Daily summary: Profit taking on US technology stocks; crypto extends sell-off!

7:01 PM 7 June 2023
  • The trading session in Europe ended mixed; in Asia, investors' attention was primarily drawn to the Nikkei index, which lost 1.82% during today's session.
  • Technology stocks came under selling pressure today, with the Nasdaq 100 index losing more than 1%
  • FAA grounds all flights At NYC's LaGuardia and Newark due To Canadian wildfire smoke
  • The Bank of Canada made an unexpected decision to raise interest rates by 25 bps to 4.75% from 4.5% previously.
  • This is the second unexpected hike this week. The Bank of Australia also decided to raise interest rates at yesterday's RBA meeting.
  • In the FX market, all attention is focused on the Turkish lira, which is massively oversold. At the moment, the USDTRY pair is trading close to 7% higher.
  • The FX market is seeing weakness in the New Zealand dollar today, which can be linked to a discount in the precious metals market, the NZDUSD currency pair is off 0.7%
  • Yuan tumbles to 2023 low after Chinese exports collapse amid speculation unrigged numbers are far weaker
  • The major currency pair, on the other hand, is trading mixed, with the start of the day seeing gains, but the dollar erased losses in the afternoon, leaving EURUSD just below the $1.07 level
  • Precious metals made gains in the first half of the day, but sentiment changed after 3pm BST
  • Silver rebounded dynamically from the resistance zone at the round $24 level and fell to daily lows
  • Gold reacted to resistance heights at the $1968 level, with losses on GOLD reaching over 1% in the evening hours
  • Crude oil trades higher after mixed US inventory data
  • The crypto market continues its massive sell-off. Binancoin in particular is under pressure, losing on a wave of withdrawals of many trading pairs and OTC trading offered by Binance US.

The correction on US100 is progressing. The quotation is approaching the support resulting from the 1:1 system. In the event of a downward breakout, the average EMA 100 (14150 points) and then the level of 13960 points should be considered as the next supports. US100 H4 interval. Source: xStation 5

Xtb logo

Join over 1 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
userBranchSymbol cc 2 March 2024
test_cookie cc 25 January 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
_gid cc 9 September 2022
_gat_UA-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 30 May 2024
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
__hstc cc 7 March 2023

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence