| 
February 22, 2023
After closing the previous trading day at $105.52, iShares iBoxx $ Investment Grade Corporate Bond ETF is up to $106.06, which makes for a move of 0.51%/54 cents today.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
Meanwhile, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. IShares iBoxx $ Investment Grade Corporate Bond ETF could be slowing down soon; it is getting close to the resistance line and is now at $106.52, only 46 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Examining the technical analysis landscape, iShares iBoxx $ Investment Grade Corporate Bond ETF is likely to reverse course and start pointing downward in the short term.
At the same time, after ending yesterday's session at $75.38, Rio Tinto lost $3.31 and is trading around $72.07. BHP Billiton is down to $63.8, losing $2.47, after closing at $66.27 in the preceding trading session. Exxon Mobil falls 2.17% to trade around $108.76.
Furthermore, the market is looking at United States Crude Oil Inventories expected to decline to 1.17 million while its preceding data was 16.28 million, data will be available tomorrow at 16:00 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 200,000 while previous data was 194,000; data will be released tomorrow at 13:30 UTC.
Elsewhere, United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.
Having set a significant high of $124.97 11 months ago, iShares iBoxx $ Investment Grade Corporate Bond ETF is trading 15.56% lower.
