Market Updates at a Glance 17/6/22 (Friday)
☛Risky Assets Continue to Meltdown with Recession Fears

➤U.S stocks continued lower on Thursday with a high Vix (fear index) of nearly 33, Dow -2.42%, S&P -3.25% & Nasdaq -4.08% after investors digested the FOMC with FED raised the benchmark rate by 75 bp on Wednesday.

➤The U.S. dollar index continued to pull back but still trading above the 20-day Moving average at 103.81 with lower Treasury yields across the curve. The 10-year treasury yield retraced to nearly 3.2%.

➤EUR, GBP & AUD were advanced on weaker USD. AUD closed at 0.7048 (+0.62%), EUR ended higher at 1.055 (+1%), while GBP jumped to 1.2352 (+1.49%) after BoE rate hike by 25bps to 1.25%. This is a fifth consecutive hike by the Bank of England to tame inflation. CHF soared 3% against dollar after SNB unexpectedly delivered a 50 bp hike. USDJPY was down to 132.23 on Wednesday ahead of BoJ (Bank of Japan) policy announcement, but jumping to 134.23 as of writing.

➤Oil (Brent) edged lower to $119.10 with weakening economic forecast and demand uncertainty. While Gold prices gained 1.22% to $1856. The precious metal is in sideways movement $1827-$1874 over the past three weeks.

➤Crypto selloff resumed one day after FED raised the benchmark rate. BTC fell toward $20,000, ETH at $1070, XRP at $0.32.

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