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26.5.2022 6 MARKETS Symbol Volume Value Trades High Low Open Closing Change Code Traded Traded Trades Price Price Price Price EQUITIES BOV 2,770 2,402.56 3 0.880 0.860 0.860 0.880 0.020 FIM 1,100 242.00 1 0.220 0.220 0.220 0.220 0.034 MDI 11,000 3,880.00 3 0.376 0.350 0.354 0.376 -0.004 MIA 2,000 11,900.00 1 5.950 5.950 5.950 5.950 0.050 MPC 1,100 555.50 1 0.505 0.505 0.505 0.505 0.000 SFC 14,675 121,050.35 13 9.000 8.100 8.100 8.250 0.250 GOVERNMENT STOCKS G33A 30,000 36,657.00 1 122.190 122.190 122.190 122.190 -0.340 G40A 15,200 16,454.00 2 108.250 108.250 108.250 108.250 0.370 CORPORATE BONDS AP30A 25,000 25,000.00 1 100.000 100.000 100.000 100.000 0.500 AX26A 5,000 4,995.00 1 99.900 99.900 99.900 99.900 -0.600 BD24A 5,000 5,000.50 1 100.010 100.010 100.010 100.010 -4.490 BV30A 49,300 49,594.75 2 100.750 100.500 100.750 100.500 -0.250 BV30B 20,000 19,905.00 3 99.750 99.450 99.450 99.750 1.250 BV31A 19,000 19,000.00 2 100.000 100.000 100.000 100.000 0.000 EF27A 50,000 50,035.00 2 101.000 100.000 101.000 100.000 -1.000 G332A 26,000 26,715.00 2 102.750 102.750 102.750 102.750 0.000 GO31A 38,500 38,606.90 3 100.500 100.010 100.010 100.400 0.900 HF27A 12,000 12,115.00 2 101.000 100.950 100.950 101.000 0.500 HF29A 8,000 7,948.00 1 99.350 99.350 99.350 99.350 0.000 HP25A 17,000 17,255.00 3 101.500 101.500 101.500 101.500 0.000 IH23A 30,000 30,450.00 1 101.500 101.500 101.500 101.500 0.000 IH24A 16,400 16,744.40 1 102.100 102.100 102.100 102.100 0.000 IH26B 18,000 18,000.00 3 100.000 100.000 100.000 100.000 0.000 MM26A 5,000 5,050.00 1 101.000 101.000 101.000 101.000 0.000 MO31A 7,500 7,500.00 1 100.000 100.000 100.000 100.000 0.000 MR26A 7,000 7,000.00 1 100.000 100.000 100.000 100.000 -1.000 MY31A 4,000 4,040.00 1 101.000 101.000 101.000 101.000 0.000 MY32A 30,000 30,715.00 3 102.390 102.380 102.390 102.380 0.000 ST27A 32,700 33,206.20 5 101.600 101.500 101.500 101.600 0.000 VR27A 50,000 50,015.00 2 100.030 100.030 100.030 100.030 -1.470 Malta Stock Exchange Regulated Main Market Trading Date: 25 May 2022 3.8% HLF 2029 Euro beefed up after ECB and Fed commentary pivot to new paths THE Euro mostly held onto re- cent gains as markets digest- ed ECB President Christine Lagarde's hawkish commentary at a time when the Fed ponders its path. Atlanta Federal Reserve Presi- dent Raphael Bostic laid out the conditions for the Fed to pause their rate hike cycle in Septem- ber. He re-iterated Fed Chair Pow- ell's comments that there would need to be clear evidence that inflation is slowing. He also said that a cooling in growth could be factor as it too could lower price pressures. As a result, Treasury yields went lower across the curve with the benchmark 10-year note yielding around 2.77%, down 10 basis points from yesterday. This helped to undermine the US Dollar. While the Fed appeared to be back pedalling, the RBNZ hiked by 50 basis-points and NZD/ USD rocketed higher. The mon- etary policy statement and the ensuing press conference from RBNZ Governor Adrian Orr made it clear that many more rate rises are coming. Energy commodities have climber higher again, with WTI crude oil near US$ 111.00 bbl and the Brent contract approaching US$ 115.00 bbl. Gold is steady at US$ 1,863 an ounce. The Nasdaq got smoked in the cash session, down 2.35%, but the S&P 500 and the Dow Jones held up ok. Wall Street futures are indicating a positive to start to their day. APAC equities are all flat to slightly up for the day. Ahead, there are several ECB speakers that will be crossing the wires and their remarks will watched closely for reaction to President Lagarde's comments. Germany's GDP data will be fol- lowed by numbers on US MBA mortgage applications and dura- ble goods orders. EUR/USD Technical Analysis After failing to break below the January 2017 low of 1.0340, EUR/ USD has staged a rally that has broken back above a descending trend line. This move has seen the price set up a potential island reversal. While it has so far made a moved above a break point at 1.0638, a clean break above 1.0758 is needed to confirm the potential of the reversal. Conversely, Tuesday's price close was outside the upper band of 21-day simple moving average (SMA) based Bollinger Band. A close back inside that band might see a short-term reversal lower. Support could be at 1.0638 or the previous lows of 1.0349 and 1.0340. On the topside, resist- ance might be 1.0758 and a de- scending trendline, currently in- tersecting at 1.0840.

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