Technical Analysis:Your Daily Dose of Market Insights, June 8, 2023

Brief Highlights:

- Global bonds slump as central banks surprise with interest rate hikes, signalling continued efforts to combat inflation.

- Bank of Canada raises rates to a 22-year high, with expectations for further increases to cool an overheating economy.

- Asian shares slip on concerns of prolonged higher rates and hawkish Federal Reserve stance.

- Bitcoin experiences a price contraction following regulatory actions against Coinbase and Binance, raising concerns of potential year-to-date lows.

- U.S. trade deficit widens as imports rebound and energy exports decline, potentially impacting economic growth.

- Tech shares lead to declines in U.S. equities, while Asian markets face weakness in Chinese stocks.

- Key upcoming events include Eurozone GDP, rate decisions in India and Peru, U.S. wholesale inventories and initial jobless claims, and China's PPI and CPI data.

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Dollar Index (DXY) Intraday:

Pivot Level: 104.02

Gold Intraday:

Pivot Level: 1949.90

USD/JPY Intraday

Pivot: 139.81

.

AUD/USD Intraday:

Pivot: 0.6670

Crude Oil (WTI)‎ Intraday

Pivot: 72.58

USD/CAD Intraday:

Pivot: 1.3374

EUR/USD Intraday:

Pivot: 1.070

GBP/USD Intraday:

Pivot: 1.245

EUR/GBP Intraday:

Pivot: 0.8599

Nasdaq 100 Intraday:

Pivot: 14411.00

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