{"id":31527,"date":"2022-07-07T17:37:00","date_gmt":"2022-07-07T16:37:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=31527"},"modified":"2022-07-08T17:46:29","modified_gmt":"2022-07-08T16:46:29","slug":"midday-brief-ecb-focus","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-ecb-focus\/","title":{"rendered":"Midday Brief – ECB Focus"},"content":{"rendered":"\t\t
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Investors embraced a bit of optimism on risk assets as inflation worries eased. UK Prime Minister is expected to deliver a resignation speech in the coming hours.<\/p>

Today, the dollar<\/a> strengthened receded ahead of Fed Waller and Bullard speaks address on a rate hike for the July meeting. Investors will also be watching closely the ECB June meeting account for the policy cycle clues.<\/p>

AUDUSD<\/a> rallied by +0.92% early European session ahead of the US initial jobless claims.<\/p>

The Aussie got boosted by the record trade data released early Asian session. Australia\u2019s trade balance rose to 15.965B from the 10.725B surveyed in May. The pair bounced off a 0.67800 support to 0.6850 near-term resistance.<\/p>

Bulls may attempt to reclaim the 0.6900 if the near-term barrier fails to hold. Traders should pay attention to the US trade balance and Initial Jobless claims later today.<\/p>

EURGBP<\/a> plunged by -0.51% for the 4th session straight ahead of the ECB monetary policy minutes. The German Industrial Production figures dropped to 0.2% from a previous reading of 1.3% undermining Euro strength in the near term.<\/p>

Bears managed to break below the 0.8440 level extending targets to 0.8350 in the near term, a 6-week low. BoE MPC members Pill and Mann, and German Buba President Nagel will be speaking in the New York session.<\/p>

European stocks rise as markets brace optimism on risk assets. DAX<\/a> rallied by 1.91% on Thursday as selling pressure eases on energy stocks. The index extended gains towards the 12800 near-term resistance and a break above that level could see bulls rally towards the 13000 psychological level.<\/p>

CAC40<\/a> surged by +1.09% to 6000 near-term barrier. A break above that level could see extended gains towards the 6200 level, coinciding with the 50-day moving average on Daily Chart. A defence of the 5800 support will be key in maintaining a bullish outlook in the near term.<\/p>

FTSE100<\/a> lagged behind rising +0.44% as UK political risks make bulls very cautious. The index is trading at 7200, yesterday\u2019s low and a breach above that near-term barrier could attract buyers to target the 7330 high. The near-term support is at 7135, a daily low.<\/p>

US stock futures rise as inflation worries ease. S&P 500 futures<\/a> rose by +0.21% pre-bell as bulls managed to hold above 3800, near-term support. Upside gains are capped by the 3950 level, coinciding with a 50-day moving average on a daily chart.<\/p>

Nasdaq100 futures<\/a> surged by +0.31% despite bulls struggling to hold gains below the 12000 psychological level. A break above that level would trigger buying pressure although gains are capped by the 12200.00 level.<\/p>

Dow Jones Industrial Index<\/a> was up +0.25% claiming the 31000 psychological barrier, a breach of 31200 resistance could open room for further upside gains towards the 32000 level.<\/p>

Oil<\/a> markets took a breather after a massive 2-day sell-off. Brent<\/a> rose by +1.70% after finding near-term support at the 98.80 level, a 3-months low. Upside gains are capped by the 104.85 resistance.<\/p>

USWTI crude oil futures soared by +1.10% and bulls managed to defend the 95.15 level despite gains capped by the $100.00\/barrel. If the bulls manage to reclaim that level 102.00 will be the next possible target.<\/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":"

Investors embraced a bit of optimism on risk assets as inflation worries eased. UK Prime Minister is expected to deliver a resignation speech in the coming hours. Today, the dollar strengthened receded ahead of Fed Waller and Bullard speaks address on a rate hike for the July meeting. Investors will also be watching closely the […]<\/p>\n","protected":false},"author":4,"featured_media":31555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[535,94,154,69,87,306],"yoast_head":"\nMidday Brief - ECB Focus - 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\/midday-brief-ecb-focus\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Brief - ECB Focus Midday Brief - ECB Focus\" \/>\n<meta property=\"og:description\" content=\"Investors embraced a bit of optimism on risk assets as inflation worries eased. 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