{"id":30293,"date":"2022-06-14T17:57:00","date_gmt":"2022-06-14T16:57:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=30293"},"modified":"2022-06-16T01:17:34","modified_gmt":"2022-06-16T00:17:34","slug":"market-brief-us-ppi-in-focus-as-the-global-market-rattle-with-soaring-inflation","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-brief-us-ppi-in-focus-as-the-global-market-rattle-with-soaring-inflation\/","title":{"rendered":"Market Brief – US PPI in focus as the global market rattle with soaring inflation"},"content":{"rendered":"\t\t
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Markets were mixed as inflation worries took centre stage. Wall Street bets on a 100bps rate hike by the Fed while other investors are pricing in a 75bps as the Fed policy meeting begins today. UK real wages dropped to a 21-year low as the labour market shrinks. German\u2019s May inflation data soars to 0.9% against the 0.00% surveyed. Fear grabs the markets as the stock market closes in bear territory.<\/p>

USDCAD<\/a> soared by +0.22% for the fifth day ahead of the US PPI data. The US PPI is expected to surge to 0.8% from the previous 0.5% reading boosting dollar strength. The pair broke above a 4-week resistance at 1.2900 and bulls are capped by the 1.2980 and 1.3070 barriers in the near term. Traders should watch out for the CAD Manufacturing Sales (April).<\/p>

NZDJPY<\/a> plunged by -0.45% as investors shifted their focus to New Zealand\u2019s Current Account Data. The Current Account YoY is expected to drop to -22.50B against the -20.23B previous reading. Upside gains are capped by the 84.80 resistance and support at 82.80 if it manages to break below the 83.50 level.<\/p>

EURGBP<\/a> extended gains by +0.44% as UK real wages dropped to a 21-year low. Average Earnings Index dropped to 6.8% from 7.6% surveyed while Claimant Count Change for May dropped to -19.7K from a forecast of -49.4K. The pair rallied to 0.8620 high, a 20-months resistance. The next possible target is 0.8700 if the near-term high is breached. Investors should watch out for the ECB speakers.<\/p>

European stocks continued with a sell-off as inflation jitters heightens. FTSE100<\/a> dropped by -0.40% as bears break below the 7200 psychological level. The next critical support is the 7156, a 12-week low and a break below that may cause selling pressure towards the 7000 level.<\/p>

DAX<\/a> extended its plunge by -0.43% and is sitting at a 13370 support and a break below that level could cause bears to target the 13000 psychological level. CAC40<\/a> slumped by -1.03% breaching the 6000 level although bears are challenged by the 5875 and 5800 support.<\/p>

US stock futures took a breather after a massive slump as the dollar recedes ahead of the US PPI data. S&P 500 futures<\/a> struggle to hold +0.36% gains as it broke into a bearish territory on Monday. Upside gains are capped by the 3800 resistance and the next target is the 3500 and 3200 levels.<\/p>

Nasdaq 100 futures<\/a> rebounded by +0.36% although gains are capped by the 11500-level coinciding with a 19-months low and bears may target 10800. DJIA index<\/a> trimmed gains to +0.14% after closing below 31000, a 15-months low. The next critical support to watch is the 30000 and 29500 levels.<\/p>

Gold<\/a> ticked up by +0.12% as aggressive fed rate hikes cap gains. The yellow metal is supported by the 1800 level and a break below this near-term support could open the possibility of the 1760 level. Gains are capped by 1840and 1880 resistances.<\/p>

US10-year treasury yields<\/a> trimmed Monday gains by -2% after a strong rally to 3.44%, making a fresh 11-year high. Investors are already pricing a Fed hike between the 75bps to 100bps on Wednesday\u2019s meeting.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Markets were mixed as inflation worries took centre stage. Wall Street bets on a 100bps rate hike by the Fed while other investors are pricing in a 75bps as the Fed policy meeting begins today. UK real wages dropped to a 21-year low as the labour market shrinks. German\u2019s May inflation data soars to 0.9% […]<\/p>\n","protected":false},"author":5,"featured_media":30295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[176,666,14,605,381,620],"yoast_head":"\nMarket Brief - US PPI in focus as the global market rattle with soaring inflation - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-brief-us-ppi-in-focus-as-the-global-market-rattle-with-soaring-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Brief - US PPI in focus as the global market rattle with soaring inflation Market Brief - US PPI in focus as the global market rattle with soaring inflation\" \/>\n<meta property=\"og:description\" content=\"Markets were mixed as inflation worries took centre stage. 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