Daily summary: An attempt to stop the discount in the stock market

6:45 PM 24 August 2022
  • The dollar maintains its position, today the USD strengthened most strongly against the NZD, where the movement in the evening hours reaches almost 0.5%

  • Despite the dynamic attempt at a rebound, EURUSD remains below parity

  • The yield on 10-year US bonds returned above 3%, currently 3.12%

  • On Wednesday we could observe a slight rebound on the main European indices, movements were limited, however, the German DAX gained 0.2%, while France's CAC40 added 0.39%, London's FTSE 100 closed below the bar (-0.22%)

  • The data published today on oil stocks surprised, the decline in inventories amounted to 3.28 million barrels against expectations of -1.5 million barrels, in evening hours Brent Crude oil is trading 0.2% higher, and WTI is gaining 0.45% from yesterday's closing level

  • US indices are trading on a slight upside, with the Dow Jones adding 0.1%, the S&P500 gaining 0.2%, and the Nasdaq doing best and settling in the +0.5% region

  • On cryptocurrencies, as on stock indices, we are seeing an attempt to stem the recent declines, volatility, however, remains low

  • Tomorrow begins the symposium in Jackson Hole, and the market expects the Fed to maintain its hawkish policy, but it is worth noting that nothing should surprise us tomorrow, and investors will wait for Powell's speech on Friday

US500 is trying to decelerate declines, nevertheless on the last H4 candle a large upper shadow is building, which may lead to a deepening of the discount towards the support at 4100 points. This level remains crucial in the short term, and its negation could lead to an acceleration of the downward movement. Source: xStation5

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