Market Updates at a Glance 26/5/22 (Thursday)
☛FOMC minutes Easing Concerns Fuel Market Rally. Sentiment remains fragile on Wall Street.

➤U.S stocks rallied as FOMC meeting minutes revealed nothing new easing concerns about overly aggressive interest hike by Fed could pitch into a recession.
Dow +0.6%, S&P +0.95% & Nasdaq+1.51%.
☛On technical front: S&P-refer to my previous post on 13/5/22
-Market is trying to find its footing near Fib 38.2% & the previous downside price target of the head & shoulder pattern, near 3836 (already hit).
- A break below (not a false break pattern) indicates further weakness and will expose to the next Fibonacci level around 3495.

➤The U.S. dollar index gained 0.3% and reclaimed 102, while the 10-year treasury yield was little changed near 2.75%.

➤EUR eased to 1.0680 (-0.54%) against the USD, trading below the 50-day Moving average. GBPUSD edged slightly higher to 1.2580 (+0.39%). AUDUSD was slightly lower to 0.7087 (-0.27%). The Reserve Bank of Australia's Ellis is expecting more rate hikes by the RBA.

➤Gold retraced to $1853, with intraday low dropped to $1842 as investors locked profit before the fed minutes. Oil was flat at $114.

➤Bitcoin continued to consolidate between $28,550-$31,300 in the past two week, similarly to XRPUSD, trading in the range of 0.3817-0.45.

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