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OVERNIGHT MARKET SNAPSHOT FOR FRIDAY 1/07/22
US Indexes headed lower to end the financial year on a low note. The three main indexes gapped down on the open to follow on from weak Asian and European markets sessions. The USD held its ground around higher while bond yields edged higher as traders await the next rate hike announcement from the Fed to see if they truly will be more aggressive towards inflation. The big move came with Bitcoin and Ethereum as both continued to break lower with BTC moving below the $20K mark. There seems to be some bigger players holding bad positions that are liquidating which would mean that the pressure could continue for some time to come. Either way, there will be more flow on effects into the share markets as traders re-asses risk from a margin perspective. European CPI data out at 7pm AEST and US ISM Manufacturing PMI data at 12am AEST.
The ASX200 is expected to open DOWN 15 points after fighting back up off lows made in the European session. I do expect the ASX to be heaving into the weekend as traders remain risk off for now.
SPI200 (Sep) overnight futures up 12 pts to 6473
SP500 down 33.45 pts to 3785.38
NASDAQ Composite down 149.16 pts to 11028.73
Dow Jones down 253.88 pts to 30775.43
FTSE100 down 143.04 pts to 7169.28
DAX30 down 219.58 pts to 12783.77
GOLD futures US session (Aug) down $10.20 to $1807.30 an ounce
COPPER futures US session (Comex Sep) down $0.1002 to $3.6803 a pound
OIL futures US Session (Nymex Aug) down $4.02 to $105.76 a barrel
CRB Index down 8.20 pts to 291.15
AUDUSD trading at 0.6902
EURUSD trading at 1.0480
GBPUSD trading at 1.2175
USDJPY trading at 135.7400
USD Index US Session (ICE Sep) down 0.349 to 104.500
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