18 April 2022 – Daily FX Update

Market overview

Indices are seen to stay red

Crude oil gaining momentum

Gold is shinning

FOREX

Euro

Following a three-day weekend, the benchmark 10-year U.S. T-bond yield opened with a bullish gap and reached its strongest level since December 2018 2.884% during the Asian trading hours.

The European Central Bank’s (ECB) decision to leave the policy settings unchanged last week caused investors to price in a widening policy gap between the ECB and the Fed. Meanwhile, the shared currency slumped to its lowest level in nearly two years before the holiday.

Sterling pound

The markets seem convinced that the Fed will hike interest rates faster than expected to battle the high inflation. However, concerns that a prolonged Russia-Ukraine war would increase the upward pressure on commodity prices. Furthermore, the overall risk-off mindset showed additional aid to the greenback and exerted downward pressure on the sterling pound to push it below 1.3020.

Chinese Yuan

The insignificance decrease in banks reserves may reflect concern by the Chinese central bank (PBOC) over inflation and U.S. monetary tightening, making further interest rate cuts less likely. PBOC on Friday announced a 25-basis-point (bp) cut to banks’ reserve requirement ratio (RRR) from April 25, releasing about 530 billion yuan ($83.16 billion) in long-term liquidity.

Indices

U.S. indices

Wall Street closed lower last week as bond yields continued the uphill climb. Rising 10-year Treasury yields pressured growth stocks, dragging the S&P 500 and the Nasdaq deeply into negative territory, while the Dow posted a more modest loss.

The Dow Jones Industrial Average fell 113.36 points to 34,451.23, the S&P 500 lost 54 points to 4,392.59, while the Nasdaq Composite dropped 292.51 points to 13,351.08.

Metals

Gold prices rose to their highest since mid-March, as the Russia-Ukraine conflict drove investors towards the safety of bullion. China’s economy slowed in March as growth numbers weakened by COVID-19 curbs and the Ukraine war.

Spot gold was up 0.8% at $1,989.65, hitting its highest in more than a month. Meanwhile, U.S. gold futures were up 0.9% at $1,993.40.

Spot silver rose 0.7% to $25.85 per ounce, platinum gained 1.7% to $1,006.27, and palladium climbed 1.4% to $2,400.60.

Crude Oil

Oil prices steadied on Monday as worries over stalling demand in China. That drove market participants to take the earlier gains on concerns over tight supply and the deepening Ukraine crisis. Before the Easter weekend holidays, both benchmarks climbed around 2.5% as the EU might ban Russian oil imports.

Brent futures were up 0.27 to $111.97 a barrel, sliding from their highest since March 30 at $113.80. U.S. West Texas Intermediate futures rose 0.2% to $107.15 after rising as high as $108.55 earlier.

shmarkets

Share
Published by
shmarkets

Recent Posts

美国股票杠杆调整通知

尊敬的用户: 您好,为进一步提升STARTRADER的竞争力和优化客户的交易体验,从2024年11月25日起,所有美股产品的杠杆将进行调整。 调整详情如下: 产品代号 原杠杆 变更后杠杆 All US Shares美股 1:20 1:33 *所有日期均以 GMT+2 为准(MT4/MT5 服务器时间)。 强烈建议持仓客户相应管理您的仓位,因为上述工具的杠杆将于 2024…

2 days ago

双重认证(2FA):操作一小步,安全一大步

尊敬的客户 STARTRADER星迈始终把客户的利益放在首位,通过双重认证(2FA)为您的交易之旅保驾护航。您可点击此处查看启用流程,轻松完成设置。 双重认证,或称双因素认证,即2 Factor Authentication——2FA验证,是全球领先金融机构广泛使用的重要安全措施之一,用于进一步保障客户账户和支付的安全性。 迈出这关键的一步, 让双重认证(2FA)为您的交易之旅护航, 助您安全畅游交易世界,收获丰硕成果! 如果您有任何疑问或需要协助,请发送电子邮件至 info@startrader.com 或通过在线聊天 https://www.startrader.com/ 联系我们, 我们随时乐意为您提供帮助。

5 days ago

11月期货展期通知

尊敬的客户: 您好,我司期货产品十一月份的展期将至,因新旧期货合约之间存在价格差异,为规避潜在的交易风险,建议客户妥善控制仓位。 期货合约的展期时间如下: 产品代号 产品名称 展期日 FRA40ft France 40 Index Future法国CAC40指数(期货) 2024-11-14 CL-OIL Crude Oil…

2 weeks ago

11月闭市通知

尊敬的客户: 您好,受即将到来11月份假期影响,STARTRADER的交易时间将有所调整。 请参考下表了解涉及调整的产品情况: 日期 2024年11月4日 2024年11月11日 2024年11月15日 2024年11月20日 假期 万圣节 卡塔赫纳独立日 共和国日 黑人意识日 BVSPX巴西股指(圣保罗指数) 正常…

3 weeks ago

即将到来的美国夏令时调整交易时间

尊敬的客户: 请注意,由于2024年11月3日实施的美国夏令时变化,以下产品的交易时间将会调整。 产品代号 交易时间 (GMT+2) Cocoa美国可可豆现货 星期一~星期四: 11:45-20:30星期五: 11:45-20:27 Coffee阿拉比卡咖啡豆现货 星期一~星期四: 11:15-20:30星期五: 11:15-20:27 Sugar11号精糖现货 星期一~星期四:…

3 weeks ago

11月闭市通知

尊敬的客户: 您好,受即将到来11月份假期影响,STARTRADER的交易时间将有所调整。 请参考下表了解涉及调整的产品情况: 日期 2024年11月1日 假期 万圣节 USDCLP美元兑智利披索 闭市 USDINR美元兑印度卢比 闭市 *所有日期均为GMT+3(MT4/MT5服务器时间) 请注意:在市场流动性下降情况下,点差可能会较正常平均水平显著扩大,我们建议客户在交易时要妥善管理仓位、确保账户资金充足,并且进行谨慎交易。 如果您有任何疑问或需要任何帮助,请随时发送电子邮件至 info@startrader.com 或透过线上聊天 https://www.startrader.com/ 联系我们。 感谢您的支持!STARTRADER团队

3 weeks ago