{"id":55035,"date":"2022-06-20T18:17:56","date_gmt":"2022-06-20T08:17:56","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=55035"},"modified":"2022-06-20T18:17:56","modified_gmt":"2022-06-20T08:17:56","slug":"20th-june-2022-monday-markets-continue-to-trade-lower-as-central-banks-in-hawkish-chorus","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/20th-june-2022-monday-markets-continue-to-trade-lower-as-central-banks-in-hawkish-chorus\/","title":{"rendered":"20th June 2022 Monday: Markets continue to trade lower as central banks in hawkish chorus"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">\u00a0Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Nikkei down 0.74%, Shanghai Composite down 0.04%, Hang Seng up 0.36%, ASX down 0.64%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1841.65 (+0.06%), Silver at $21.57 (-0.09%), Brent Oil at $113.06 (-0.05%), WTI Oil at $108.14 (+0.14%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.231, UK 10-year yield at 2.530, Germany 10-year yield at 1.671<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) German PPI m\/m 1.60% vs 1.50% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) Rightmove HPI m\/m 0.30% vs 2.10% previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(NZD) BusinessNZ Services Index 55.2 vs 52.2 previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) CB Leading Index m\/m -0.40% vs -0.40% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Industrial Production m\/m 0.20% vs 0.40% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Capacity Utilization Rate 79.00% vs 79.20% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian stock markets are trading mostly lower on Monday, following the mixed cues from Wall Street on Friday, dragged by materials and energy stocks amid tumbling crude oil prices, Traders also remain concerned that aggressive monetary tightening by major central banks to cool inflation could lead to a slowdown in global growth. Meanwhile, U.S. President Joe Biden stated that a U.S. recession isn&#8217;t inevitable and that the country was &#8220;in a stronger position than any nation in the world to overcome inflation.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Japanese stock market is sharply lower on Monday with the Nikkei 225 staying above the 25,600 level, with materials, technology and energy stocks leading the declines, even as traders continue to be worried about the economic impact of aggressive monetary policy tightening. The Shanghai Composite in mainland China closed mildly lower. Hong Kong\u2019s Hang Seng index climbed 0.4%, , with shares of life insurer AIA gaining 1.4%. The Australian stock market is modestly lower in choppy trading, with weakness across most sectors, particularly technology and energy stocks amid tumbling crude oil prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Crude oil prices fell sharply Friday on mounting fears about a possible global economic recession following severe tightening of policies by several central banks. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 104.373 after a recent bounce from levels below 104. Bitcoin slipped 3% to $19,897, having bounced sharply over the weekend amid talk of a single large buyer. The strength in the dollar has kept gold in a tight sideways pattern for the past month or so and it was last stuck at $1,841 an ounce.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Monday, June 20, 2022\u00a0\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:00 PM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">04:45 PM GMT &#8211; (USD) FOMC Member Bullard Speaks<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tuesday, June 21, 2022\u00a0\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:00 AM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 AM GMT &#8211; (AUD) Monetary Policy Meeting Minutes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Retail Sales m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 PM GMT &#8211; (USD) Existing Home Sales<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Wednesday, June 22, 2022\u00a0\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:00 AM GMT &#8211; (GBP) CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) CPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thursday, June 23, 2022\u00a0\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:15 AM GMT &#8211; (EUR) French Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:30 AM GMT &#8211; (EUR) German Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:30 AM GMT &#8211; (GBP) Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:30 AM GMT &#8211; (GBP) Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Unemployment Claims<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:45 PM GMT &#8211; (USD) Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:45 PM GMT &#8211; (USD) Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Friday, June 24, 2022\u00a0\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:00 AM GMT &#8211; (GBP) Retail Sales m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:00 AM GMT &#8211; (EUR) German ifo Business Climate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">11:30 AM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">11:30 AM GMT &#8211; (USD) FOMC Member Bullard Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 PM GMT &#8211; (USD) Revised UoM Consumer Sentiment<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices fell sharply Friday on mounting fears about a possible global economic recession following severe tightening of policies by several central banks. <\/p>\n","protected":false},"author":8,"featured_media":55036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[215,339],"tags":[],"class_list":["post-55035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/55035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/comments?post=55035"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/55035\/revisions"}],"predecessor-version":[{"id":55037,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/55035\/revisions\/55037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/55036"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=55035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=55035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=55035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}