Daily Market Reflection 27June 2022

Market Outlook
The U.S. dollar slipped on Friday and posted its first weekly
decline this month, as traders pared back bets on where Fundamental News
interest rates may peak and brought forward their outlook on
the timing of rate cuts to counter a possible recession. A
 U.S. new home sales rebound in
significant factor this week has been the fall in oil and
May; consumer sentiment at
commodity prices, which has eased inflation fears and allowed
record low
equity markets to rebound. This has eroded the safe-haven bid
that has been boosting the dollar against major currencies. U.S.  German business sentiment
fed funds futures on Friday priced in a 73% probability of a 75 clouds over but no sign of
basis-point increase at the July meeting. But for September the recession –Ifo
market has fully factored in just a 50-bps rise.
 Spanish Q1 economic growth
Britain, the United States, Japan and Canada will ban new slows to 0.2% q/q, 6.3% y/y.
imports of Russian gold as part of efforts to tighten the
sanctions squeeze on Moscow for its invasion of Ukraine, the 
British government said on Sunday. The ban will come into
INTRADAY SUPER STAR PREMIUM
force shortly and apply to newly mined or refined gold, the
government statement said ahead of a meeting of Group of
Seven leaders in Germany on Sunday. The move will not affect Date Currency Entry Exit Target/SL
previously exported Russian-origin gold, it added. The latest 24/06 AUDJPY(S) 92.99 92.79 TARGET
initiative follows the LBMA March suspension of accreditation
for six Russian precious metals refiners.
Date Commodity Entry Exit Target/SL
24/06 XAUUSD(L) 1834 - UNEXE
Global Markets
The European Central Bank will hold its annual retreat in
Index of the Week
Portugal, where President Christine Lagarde, along with
FTSE 100
Federal Reserve Chair Jerome Powell and Bank of England
Markets are still digesting the higher re-pricing of
Governor Andrew Bailey will appear at a panel discussion on
Fed rate expectations, and global risk assets may
Wednesday. The first half of what has been an exceptionally
struggle to show any sustainable rebound for now.
turbulent year in markets is ending, with investors
Things to Note
wondering whether the next six months could bring some
The focus on the path for interest rates and
respite or more volatility. The economic calendar features the
inflation is likely to dominate markets this
PCE price index - an inflation gauge watched by the Fed -
week.too.
along with the latest inflation data out of the Eurozone.
Global Currencies International Markets
Currencies Close Previous % Chg Index Value Change %
Change
DOW 31500.68 +823.32 +2.68%
GBPUSD 1.2272 1.2260 +0.10% NASDAQ 11607.62 +375.43 +3.34%
EURUSD 1.0554 1.0523 +0.29%
DAX 13118.13 +205.54 +1.59%
USDJPY 135.23 134.93 +0.22%
FTSE 7208.81 +188.36 +2.68%
EURJPY 142.71 142.00 +0.50%
NIKKEI 26491.97 +320.72 +1.23%
GBPJPY 165.85 165.42 +0.26%
SHANGHAI 3349.75 +29.60 +0.89%
GBPCHF 1.1762 1.1783 -0.17%
HANG SENG 21719.06 +445.19 +2.09%
USDCHF 0.9579 0.9611 -0.33%
USDCAD 1.2891 1.2994 -0.79%
EURGBP 0.8600 0.8581 +0.22% COMEX
CHFJPY 141.12 140.33 +0.56% COMMODITY DATE DATE %
EURCHF 1.0114 1.0115 -0.01% 24/06/22 23/06/22 CHANGE
AUDUSD 0.6944 0.6889 +0.80% XAUUSD 1827.53 1822.71 +0.26%
EURAUD 1.5194 1.5272 -0.51% XAGUSD 21.14 20.95 +0.88%
GBPAUD 1.7665 1.7791 -0.71% CRUDE 107.06 104.27 +2.68%

Event Calendar (27th June 2022, Monday)

Time Currency Event Forecast Previous
Day 2 All G7 Meetings - -
6:00 pm USD Core Durable Goods Orders m/m 0.5% 0.4%
6:00 pm USD Durable Goods Orders m/m 0.1% 0.5%
7:30 pm USD Pending Home Sales m/m -3.5% -3.9%
- - - - -
- - - - -
- - - - -
OVERVIEW
XAUUSD

XAUUSD hovered near the

important support of 1820 for
most part of the session and
even surpassed but did not
sustain below it and close
above it. If it sustains above
1835 then it may further lead
R1 R2 S1 S2 towards 1850.
1840 1850 1817 1810

XAGUSD

XAGUSDcontinued the weak

trend which it is following
since previous few sessions.
Closing on weekly charts
below the major support of
21.40 indicates 20.60-20.40 as
the support range whereas
21.70 is seen as resistance.
R1 R2 S1 S2
21.40 21.70 20.60 20.30
 EURUSD

EURUSD showed choppy

movements throughout the
session. On hourly charts, the
currency pair has been constantly
taking support of the up sloping
trend line. If it sustains below
1.0500 then it may further drop
towards deeper support while
1.0600 is major resistance. R1 R2 S1 S2
1.0590 1.0620 1.0510 1.0460

GBPUSD

GBPUSD has been exhibiting

symmetrical triangle pattern on
hourly charts which indicates that
the breakout will decide the
further trend for the currency pair.
Weakness will occur if it sustains
below 1.2200 whereas positive
breakout will be seen if it crosses
resistance of 1.2320.
R1 R2 S1 S2
1.2350 1.2390 1.2200 1.2150
INTRADAY SUPER STAR(PREMIUM)

AUDCAD hovered around the support

levels on hourly charts.

SELL BELOW 0.8950 TARGETS

0.8930/0.8910 SL ABOVE 0.8970.

XAUUSD closed near the support level

on hourly charts and so is expected to
continue the weakness.
SILVER is observed consolidating
in BELOW
SELL a pattern1820
expected to move
TARGETS up
1815/1810
SL ABOVE from the drawn level.
1825.
BUY ABOVE 22.78 TARGETS
22.93 SL BELOW 22.63
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