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Technical Analysis: Your Daily Dose of Market Insights, June 23, 2023

Morning Brief:


1. Global Stocks on Course for Worst Week Since March: Central bank rate hikes and rising bond yields contribute to a significant decline in global stocks, marking the worst week in over three months.


2. Market Volatility in Asia: Japanese shares fall 1.5%, raising concerns about Tokyo's rally. South Korea's benchmark and Hong Kong experience substantial losses.


3. US Dollar Strength and Currency Market Movements: The US dollar strengthens, while commodity currencies weaken. Speculation arises regarding possible verbal intervention on the yen.


4. Impact on Commodities: Slumping oil prices overshadow a drop in US crude inventories. Gold faces significant weekly decline.


5. Key Data and Expectations: Today's release of purchasing managers index surveys and British retail sales figures provide insights into economic performance and consumer sentiment.


Key events today:

  • Eurozone S&P Global Eurozone Manufacturing PMI, S&P Global Eurozone Services PMI.

  • US S&P Global Manufacturing PMI.

  • Fed Bank of St. Louis President James Bullard speaks.

 

Dollar Index (DXY) Intraday:


Pivot Level: 102.26


Dollar Index DXY Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Gold Intraday:


Pivot Level: 1919.99


Gold XAU/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

USD/JPY Intraday:


Pivot: 142.65


USD/JPY Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

AUD/USD Intraday:


Pivot: 0.6769


AUD/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Crude Oil (WTI)‎ Intraday:


Pivot: 69.83

WTI Crude oil, Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

USD/CAD Intraday:


Pivot: 1.3157


USD/CAD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

EUR/USD Intraday:


Pivot: 1.097


EUR/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

GBP/USD Intraday:


Pivot: 1.277


GBP/USD Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

EUR/GBP Intraday:


Pivot: 0.8603


EUR/GBP Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.

Nasdaq 100 Intraday:


Pivot: 14,960.00

Nasdaq 100 stock index Bar chart showing forex and commodities prices, green/red candles depict daily trading trends. Includes moving average, Bollinger bands, and RSI.


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