(22 JUNE 2020)DAILY MARKET BRIEF 2:Hesitation hint at weakening risk appetite.

<p>Demand in US treasuries and the dollar remains firm as we see a pause in the rising trend across the global equity indices. The US 10-year yield stands below the 0.70% mark. The yen and the Swiss franc continue collecting the safe haven inflows. Gold shortly jumped to $1758 per oz on the back of an intense risk sell-off in Asia. If the investors sentiment deteriorates, the yellow metal could finally make the much-expected breakout to the $1800 mark. Otherwise, we should see a consolidation to $1725/1750 area. The EURUSD will likely extend weakness to 1.1160, the major Fibonacci 38.2% retracement on April – June rebound. The golden cross formation on the daily chart (50-day moving average crossing above the 200-day moving average) should boost short-term tactical long positions and throw a floor under the euro weakness. The latest CFTC data confirmed a peak in long speculative positions in euro last week, meaning that investors remain firm on their long euro view. But the latter also ca</p>