Asian share markets slipped on Thursday after minutes from the Federal Reserve's early May meeting

showed a majority backing half-percentage-point rate hikes in June and July, and as persistent concerns over
global growth sapped confidence.

While the minutes also highlighted policymakers' faith in the strength of the U.S. economy, helping lift the
mood on Wall Street overnight, sentiment in equity markets remains fragile after weeks of volatile trade as
more global central banks continue on the path of tightening.

All participants at the Fed's May 3-4 meeting supported a half-percentage-point rate increase - the first of
that size in more than 20 years - and "most participants" judged that further hikes of that magnitude would
"likely be appropriate" at the Fed's policy meetings in June and July, according to minutes from the meeting.

The minutes reflected agreement among policymakers on the strength of the U.S. economy, tightness of the
labour market and high inflation, with global supply problems, the Ukraine war, and continued coronavirus
lockdowns in China skewing inflationary risks "to the upside".

Chinese blue-chips fell 1.11% despite another drop in daily COVID-19 cases in the country, where lockdowns
aimed at curbing the spread of the virus threaten to undermine recent economic support measures. China
will strive to achieve reasonable economic growth in the second quarter and stem rising unemployment..

The falls in Asia contrast with a more upbeat mood on Wall Street, where the Dow Jones Industrial Average
rose 0.6%, the S&P 500 gained 0.95% and the Nasdaq Composite added 1.51%.

After rising on Wednesday following the Fed minutes, the dollar was little changed in Asia trade. It was barely
changed against the yen at 127.27, while the euro gained 0.11% to 1.0692%. The dollar index, which tracks
the greenback against a basket of major peers was just 0.03% lower at 102.02. Moves in U.S. Treasury yields
were also muted. The 10-year yield edged up to 2.7577% from a close of 2.747%, and the policy-sensitive
two-year yield was flat at 2.506%.

Crude oil was steady after a cautious rally this week, with Brent crude flat at $114.03 per barrel and U.S.
crude up 0.13% at $110.47.

Spot gold was down 0.2% at $1,849.19 per ounce.

Instruments Open High Low Close Range Change % Change

Crude Oil 110.5 111.66 109.25 110.72 2.41 0.22 0.19%
Gold Futures 1865.4 1866.7 1838.7 1846.3 28 -19.1 -1.02%
Silver Futures 22.115 22.145 21.725 21.87 0.42 -0.245 -1.10%
EUR/USD 1.0735 1.074 1.0642 1.068 0.0098 -0.0055 -0.51%
GBP/USD 1.2531 1.2592 1.248 1.2564 0.0112 0.0033 0.26%
USD/JPY 126.82 127.51 126.64 127.31 0.87 0.49 0.38%
NSDQ100 11849.6 12028.8 11672.6 11888.6 356.2 39 0.32%
Dow 30 32010.9 32257 31736.3 32097.1 520.7 86.2 0.26%
S&P 500 3959.3 3999.5 3917 3971.5 82.5 12.2 0.30%
KSE 100 41950.32 42128.41 41356.02 42012.66 772.39 62.34 0.148%
DXY 101.76 102.45 101.73 102.06 0.72 0.3 0.29%

Price Ranges in Market 25th May 2022 – Wednesday

Crude Oil
Oil prices rose on Thursday, extending a cautious rally this week
on signs of tight supply while the European Union (EU) wrangles
with Hungary over plans to ban imports from Russia, the world's
second-largest crude exporter, after it invaded Ukraine. Brent
crude futures for July settlement inched up 7 cents, or 0.1%, to
$114.10 a barrel. U.S. West Texas Intermediate (WTI) crude
futures for July delivery climbed 22 cents, or 0.2%, to $110.55 a
barrel. A bigger-than-expected drawdown in U.S. crude
inventories in the week to May 20, following soaring exports,
buoyed the market on Wednesday. The inventory draw and the
prospect of an EU embargo on Russian oil, in retaliation for what
Moscow calls its "special military operation" in Ukraine, were
pushing prices higher.
Today's Technical Level
Instrument S3 S2 S1 Pivots R1 R2 R3
Crude Oil 105.72 108.13 109.43 110.54 111.84 112.95 115.36

GOLD
The price of gold is under a little bit of pressure in Asia as the US
dollar attempts to stabilize. At $1,851.94, the gold price is down
0.07% and is sticking to a range of between 41,851.63/$1,854.43 so
far. The US dollar, as measured by the DXY index, edged lower
following the Federal Reserve minutes that failed to send a message
that large rate hikes were being considered. Therefore, the move
lower in the greenback was making bullion less expensive for buyers
holding other currencies and limiting losses. Gold struggled to find
a bid amid the weak economic backdrop. The bulls had been moving
in but the price is correcting back towards the W-formation's
neckline, as forecasted.
Today's Technical Level
Instrument S3 S2 S1 Pivots R1 R2 R3
Gold 1794.57 1822.57 1834.43 1850.57 1862.43 1878.57 1906.57

SILVER
Silver (XAG/USD) remains on the back foot for the second consecutive
day, taking offers of around $21.93 during Thursday’s Asian session. In
doing so, the bright metal retreats from a three-day-old downward
sloping resistance line amid descending RSI. However, a one-week-old
bullish channel’s support, around $21.75, will challenge the XAG/USD’s
immediate downside. Even if the quote drops below $21.75, the 200-
HMA level of $21.71 and a near 50 level of RSI can keep silver buyers
hopeful. On the contrary, an upside break of the immediate resistance
line, at $22.05, becomes necessary for buyers to retake control.
Following that, the upper line of the aforementioned channel, near
$22.30, will gain the market’s attention.

Today's Technical Level

Instrument S3 S2 S1 Pivots R1 R2 R3
Silver 21.07 21.49 21.68 21.91 22.10 22.33 22.75
EUR/USD
EUR/USD pares intraday gains around 1.0700 while stepping
back from an immediate resistance line. In doing so, the major
currency pair reverses the previous day’s pullback from the
monthly high during Thursday’s Asian session. Although a
downward sloping trend line from Tuesday restricts the nearby
EUR/USD upside around 1.0710, the quote’s ability to stay
firmer past the 100-HMA and the 200-HMA keeps the buyers
hopeful of overcoming the nearby hurdle. Also favoring the
upside bias is a one-week-old ascending trend line and the
bullish MACD signals, not to forget firmer RSI (14).

Today's Technical Level

Instrument S3 S2 S1 Pivots R1 R2 R3
EUR/USD 1.0491 1.0589 1.0635 1.0687 1.0733 1.0785 1.0883

GBP/USD
The GBP/USD pair has managed to surpass the weekly resistance of
1.2600. A firmer upside move in the opening trade by the US dollar
index (DXY) has weakened the pound bulls. The pair has remained
stronger this week as the greenback was underperforming against the
pound amid a risk-on market mood. The risk appetite of the market
participants has improved significantly as the global economy has
discounted two more 50 basis points (bps) interest rate hikes, which is
likely to be announced by the Federal Reserve (Fed) this year. The DXY
has tumbled below 102.00 after printing a 19-year high of 105.00 on
May 13. The asset has erased more than 3.20% from its recent high.

Today's Technical Level

Instrument S3 S2 S1 Pivots R1 R2 R3
GBP/USD 1.2321 1.2433 1.2499 1.2545 1.2611 1.2657 1.2769

USD/JPY
The USD/JPY pair has witnessed a minor correction after failing to
cross 127.50 as investors are keeping an eye on the US Gross Domestic
Product (GDP) numbers, which are due on Thursday. The annual GDP is
seen stabled at -1.4%. The asset has remained vulnerable in the past
few trading sessions amid weakness in the US dollar index (DXY).
Consecutive 50 basis points (bps) interest rate elevation by the Federal
Reserve (Fed) in June monetary policy is the talk of the town and it
looks like investors have already priced in the extreme hawkish stance
by the Fed. Apart from the US GDP numbers, investors will also focus
on the quarterly Core Personal Consumption Expenditure (PCE), which
is also seen stabled at 7%. A higher-than-expected Core PCE figure
could force the Fed to sound more hawkish than the current usual.
Today's Technical Level
Instrument S3 S2 S1 Pivots R1 R2 R3
USD/JPY 125.41 126.28 126.80 127.15 127.67 128.02 128.89
NASDAQ 100
Wall Street closed higher Wednesday, boosted after minutes
from the Federal Reserve's latest monetary policy meeting
showed policymakers unanimously felt the U.S. economy was
very strong as they grappled with reining in inflation without
triggering a recession. Amazon.com Inc (NASDAQ:AMZN) and
Tesla (NASDAQ:TSLA) Inc provided the strongest lift to the S&P
500 and the Nasdaq, rising 2.6% and 4.9%, respectively. Shares
of Nvidia (NASDAQ:NVDA) Corp fell more than 8% in after-
hours trading after the company's second quarter revenue
forecast missed expectations, Advancing issues outnumbered
declining ones on the NYSE by a 3.56-to-1 ratio; on Nasdaq, a
2.22-to-1 ratio favored advancers.
Today's Technical Level
Instrument S3 S2 S1 Pivots R1 R2 R3
NASDAQ 100 11150.93 11507.13 11697.87 11863.33 12054.07 12219.53 12575.73

DOW JONES 30
The Dow closed higher Wednesday, after the Federal Reserve's
May meeting minutes showed the central bank was keen to move
quickly on rate hikes to allow breathing room to reassess the pace
of tightening later this year. The Dow Jones Industrial Average
gained 0.6%, or 191 points, The Personal Consumption
Expenditures (PCE) report will follow on Friday, which will provide
further clues regarding consumer spending and whether inflation
peaked in March, as other indicators have suggested. The Dow
Jones Industrial Average rose 191.66 points. Consumer
discretionary stocks did most of the heavy lifting for the broader
market after Nordstrom's quarterly results.

Today's Technical Level

Instrument S3 S2 S1 Pivots R1 R2 R3
DOWJONES 30 30988.73 31509.43 31803.27 32030.13 32323.97 32550.83 33071.53

S & P 500
After a sluggish start to the week, risk appetite improves during
the mid-Asian session on Thursday as Fed minutes underpinned
cautious optimism. Even so, headlines from China and Ukraine
test the market sentiment amid a mostly quiet Asian session.
While portraying the mood, the S&P 500 Futures print mild gains
around 3,980. Nine of the 11 major sectors in the S&P 500 rose,
with consumer discretionary stocks leading the pack with a gain
of 2.8%. The S&P 500 posted three new 52-week highs and 32
new lows.

Today's Technical Level

Instrument S3 S2 S1 Pivots R1 R2 R3
S&P 500 3797.67 3880.17 3925.83 3962.67 4008.33 4045.17 4127.67
Inflationary risks -- Inflation Risk commonly
refers to how the prices of goods and services
increase more than expected or inversely, such
situation results in the same amount of money
resulting in less purchasing power. Inflation
Risk is also known as Purchasing Power Risk.
An example of Inflation Risk is Bond Markets.

Neckline -- The neckline is a level of support

or resistance found on a head and shoulders
pattern that is used by traders to determine
strategic areas to place orders. A neckline
connects the swing lows (which occur
following the first two peaks) of the head and
shoulders topping pattern.

Personal Consumption Expenditures --

Consumer spending, or personal consumption
expenditures (PCE), is the value of the goods
and services purchased by, or on the behalf of,
U.S. residents. At the national level, BEA
publishes annual, quarterly, and monthly
estimates of consumer spending.