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Date : 8th July 2022.
Market Update – July 8 – Stocks Rise, USD holds, Johnson Resigns, Abe Shot.
![](/proxy.php?image=https%3A%2F%2Fanalysis.hfm.com%2Fwp-content%2Fuploads%2F2020%2F08%2Fdaily-market-update-696x364.png&hash=ea2bac4f87da3b5b51ffdf0889d6678a)
USDIndex tested 107.00 again following safe haven bids for USD & JPY following shooting of former Japanese PM Shinzo Abe (he remains in a critical condition). US Stocks rallied into close (NASDAQ +2.28%), lifting on hopes of less restrictive FED despite the tone of the minutes. Asian markets were positive before shooting closing flat. (Hang Seng +0.22%, Nikkei +0.1%). European FUTS positive too. Yields closed up +3.85%. Oil rallied 4.3%, Gold flat up 0.2% & BTC rallied to $22k. UK PM Johnson resigned but will remain caretaker PM for now (FTSE100 gained 1.14%, Cable recovered to 1.2000).
Today – US & Canadian Labour Market Reports, US Wholesale Inventories, Speeches from ECB’s Lagarde & Fed’s Williams.
![](/proxy.php?image=https%3A%2F%2Fanalysis.hfm.com%2Fwp-content%2Fuploads%2F2022%2F07%2F2022-07-08_10-15-33.jpg&hash=d98f541e11574e637a897e8873c7d1ee)
Biggest FX Mover @ (06:30 GMT) GBPJPY (–0.39%). JPY safe haven bid following ABE shooting stemmed the rally to 164.00 from 160.40 on Wednesday. Down to 162.80 now. MAs crossed lower, MACD histogram positive but falling, RSI 44 & falling, H1 ATR 0.319, Daily ATR 1.983.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.
Stuart Cowell
Head Market Analyst
HFMarkets
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Market Update – July 8 – Stocks Rise, USD holds, Johnson Resigns, Abe Shot.
![](/proxy.php?image=https%3A%2F%2Fanalysis.hfm.com%2Fwp-content%2Fuploads%2F2020%2F08%2Fdaily-market-update-696x364.png&hash=ea2bac4f87da3b5b51ffdf0889d6678a)
USDIndex tested 107.00 again following safe haven bids for USD & JPY following shooting of former Japanese PM Shinzo Abe (he remains in a critical condition). US Stocks rallied into close (NASDAQ +2.28%), lifting on hopes of less restrictive FED despite the tone of the minutes. Asian markets were positive before shooting closing flat. (Hang Seng +0.22%, Nikkei +0.1%). European FUTS positive too. Yields closed up +3.85%. Oil rallied 4.3%, Gold flat up 0.2% & BTC rallied to $22k. UK PM Johnson resigned but will remain caretaker PM for now (FTSE100 gained 1.14%, Cable recovered to 1.2000).
- USDIndex holds the bid at 107.00
- Equities – USA500 closed +1.50% 57.54pts (3902), US500FUTS at 3899 now.
- Yields 10-year yield higher, closed at 2.85%, trades at 3.05% now.
- Oil & Gold had volatile sessions – USOil traded up to $104 from $96.60 lows and remains over $100.00 at $102.00. Gold fell to $1742, and rotates their currently.
- Bitcoin rallied from $20K, testing $22.4K today on chatter of major investments coming.
- FX Markets – EURUSD remains pressured at 1.016, USDJPY capped by 136.00 traes at 135.50 now. Cable traded to 1.2050 at 1.2000 now.
Today – US & Canadian Labour Market Reports, US Wholesale Inventories, Speeches from ECB’s Lagarde & Fed’s Williams.
![](/proxy.php?image=https%3A%2F%2Fanalysis.hfm.com%2Fwp-content%2Fuploads%2F2022%2F07%2F2022-07-08_10-15-33.jpg&hash=d98f541e11574e637a897e8873c7d1ee)
Biggest FX Mover @ (06:30 GMT) GBPJPY (–0.39%). JPY safe haven bid following ABE shooting stemmed the rally to 164.00 from 160.40 on Wednesday. Down to 162.80 now. MAs crossed lower, MACD histogram positive but falling, RSI 44 & falling, H1 ATR 0.319, Daily ATR 1.983.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work.
Stuart Cowell
Head Market Analyst
HFMarkets
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.