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Date : 10th June 2022.

Market Update ‚Äď June 10 ‚Äď Stocks Tank & Yields Rise ahead of US CPI.


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USD¬†moved higher (USDIndex¬†103.10),¬†Stocks¬†TANKED into close (NASDAQ¬†-2.75%, Dow -600 pts & S&P close to -100 pts) Futures steady.¬†ECB¬†cut growth and raised inflation forecasts, confirmed end of PEPP and 25bp rate hike in July (some wanted 50bp) & 25bp in Sept. (the caution weighed on EUR).¬†Yields¬†rallied (US 5yr & 10yr back over 3.00%, 2yr at 2.84%), Asian markets have mostly slipped, (Nikkei¬†-1.49%).¬†Yellen¬†inflation a serious problem ‚Äúwhat I am focused on‚ÄĚ.¬†Goldmans¬†&¬†Deutsche¬†now expect 2 x 50bp hikes from ECB in Sept & Oct and RTS poll sees the same from FED (bring it to 4 x 50bp hikes).¬†Oil¬†slips but holds on to gains,¬†Gold¬†remains pressured by rising yields.¬†NZD¬†bid overnight.

2022-06-10_09-35-10.png
 
  • USDIndex¬†rallied to 103.33 apost ECB and ahead of US CPI today.
  • Equities¬†‚ÄstUSA500¬†-98 (-2.38%) at¬†4017, US500FUTS at¬†4025¬†now.¬†AMZN¬†‚Äď4%¬†BABA¬†+-8.13%, NFLX -4.96%, APPL -3.60% GOOGL -2%, MRNA -9.76%
  • Yields¬†10-year yield higher (3.064% at close), trades at¬†3.055%¬†now.
  • Oil & Gold¬†had weaker sessions ‚ÄstUSOil¬†slipped but holds over $120.00 handle,¬†Gold¬†sank as Yields rallied from over $1855 to $1845 now.
  • Bitcoin¬†continues to pivot around $30K.
  • FX markets¬†‚ÄstEURUSD¬†down at 1.0630, from a spike to 1.0770,¬†USDJPY¬†tested 134.50 zone (24-yr high) and holds¬†134.00, Cable¬†trades down at 1.2500, from 1.2550.
Overnight ‚ÄstPPI in¬†Japan¬†missed (9.1% vs 9.9%) but remains high,¬†China¬†CPI missed (2.1% vs 2.2%) & PPI in line 6.4% & down from 8% last month (Shanghai lockdowns)

Today ‚Äď US CPI,¬†Canadian Jobs Report,¬†US University of Michigan (Prelim.) & Speech from ECB‚Äôs¬†Lagarde.

2022-06-10_09-56-49.png

Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.54%). Moves higher from 0.6380 to 0.6420, as NZD gets a bid in the Asian session. Next key resistance 0.6450. MAs aligning higher, MACD histogram negative but turning higher, RSI 54 & rising, H1 ATR 0.0011, Daily ATR 0.0068.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 14th June 2022.

Market Update ‚Äď June 14 ‚Äď Is the ugly Monday over?


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USD spiked (USDIndex 105.10), Stocks plummeted once again (NASDAQ -4.68%, Dow -800pts & S&P close to -151pts). Friday’s hot CPI report; low consumer sentiment; stagflation worries continued; and global uncertainty over how hard the FOMC will have to slam on the brakes to slow demand and bring down inflation. Yields higher on fears of aggressive interest rate hikes would push the world’s largest economy into recession (US 5yr & 10yr back over 3.57% & 3.48%, 2yr at 3.33%). Asian markets have sold off in catch up trade, (Nikkei -1.30%). Oil up, Gold remains pressured by rising yields.

2022-06-14_09-10-15.jpg
 
  • USDIndex¬†rallied to 105.10.
  • Equities¬†‚ÄstHang Seng¬†and¬†CSI 300¬†are up 0.3% and 0.4% respectively.¬†GER40¬†and¬†UK100¬†futures are posting gains of 1.0% and 0.8%, while a 1.6% rise in the¬†USA100¬†is leading US futures higher.
  • Oil & Gold¬†had weaker sessions ‚ÄstUSOil¬†struggles to break $122.00 handle,¬†Gold¬†is slumped on the Fed outlook and the strength in the USD, to $1809.
  • Bitcoin¬†TANKED to $20,796. ‚Äď Major cryptocurrency lending company¬†Celsius Network‚Äôs freezing¬†of withdrawals delivered the latest jolt to investors in the asset-class.
  • FX markets¬†‚ÄstEURUSD¬†down at 1.0458,¬†USDJPY¬†tested 135 zone,¬†Cable¬†trades up at 1.2200, from 1.2120.
Overnight ‚Äď ILO unemployment rate jumped to 3.8%. German HICP inflation was confirmed at 8.7% y/y, in line with the preliminary number. The national CPI rate stood at 7.9% and inflation is at the highest level since 1973, during the first oil price crisis.¬†Chaoyang kicked off a three-day mass¬†testing campaign among its roughly 3.5 million residents.

Today ‚ÄstGerman ZEW, US PPI and ECB‚Äôs Schnabel speech.

2022-06-14_10-33-38.jpg

Biggest FX Mover @ (06:30 GMT) BTCUSD (-7.02%). Drifts to 20781. Next key resistance is at 2017 peak, 19470. Intraday, MAs flattened, MACD histogram negative, RSI 23 but rising, indicating some temporary bounce but overall downtrend.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 15th June 2022.

Market Update ‚Äď June 15.


FED-US-696x364.jpg
USD¬†down (USDIndex¬†104.70),¬†Stocks¬†mixed (NASDAQ¬†+0.18%, Dow -0.5% & S&P -0.38%). A boost to¬†Australia‚Äôs minimum wage¬†and¬†RBA¬†pledge to do what is necessary to meet the inflation target fueled the jump in yields. Expectations are now for 50 bp hikes in July as well as September and Australia‚Äôs curve shifted more than 20 bp higher today. ‚ÄstYields¬†extended higher as dip buyers have thrown in the towel for now, leaving sellers in control as the market adjusts to the potential for a very hawkish FOMC. (US 5yr & 7yr rates up to 3.606% and 3.59%, 2yr at 3.43%).¬†US PPI increased 0.8% in May and the core rose 0.5% ‚Äď bearish for the markets.¬†ECB to hold emergency meeting¬†‚Äúto discuss current market conditions‚ÄĚ. A Bloomberg source story yesterday suggested that the ECB remains tight lipped on new plan to keep spreads in.
 
‚ÄúAgainst a backdrop of sky-high inflation, rising rates, and growing recession concerns, the S&P 500 has had its worst start to the year since 1962,‚ÄĚ noted analysts at Goldman Sachs.
  • USDIndex¬†pulled back to 104.78.
  • ő•ields have extended higher,¬†at the highest rates in well over a decade. The 10-year cheapened over 12 bp to 3.488%, not seen since the spring of 2011.
  • Equities¬†‚Äď Nikkei and ASX lost a further 0.9% and 1.3% respectively. Hang Seng and CSI 300 are currently up 1.6% and 2.7%.
  • Oil¬†drifted to¬†116.55¬†before settling at¬†119.58¬†‚Äď amid FED and¬†reports that US¬†Senate Finance Committee chair Ron Wyden plans to introduce legislation setting a 21% surtax on oil company profits considered excessive.
  • Golds near its lowest area in a month, now at $1,820.
  • Bitcoin¬†steady above $20K.
  • BOJ¬†offers to buy unlimited sum of JGBs with 7 years left until maturity.
  • FX markets¬†‚ÄstEURUSD¬†rebounded to 1.0498 from 1.0396,¬†USDJPY¬†back below 135 zone,¬†Cable¬†settled at 1.2040.
Today ‚ÄstThe focus will be on the ECB meeting but also on the dot plot and the terminal rate, as well as how Chair Powell assesses the outlooks of inflation, growth, and the labor market.

2022-06-15_10-42-33.jpg

Biggest FX Mover @ (06:30 GMT) USDIndex (-0.35%) down to 50-hour SMA, 104.72. Intraday, MAs aligned lower, MACD histogram neutral, RSI 41 & sloping. H1 ATR at 0.14 & Daily ATR at 0.79.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 16th June 2022.

Market Update ‚Äď June 16 ‚Äď Its all about the Banks.


BOE-696x422.jpg
FOMC hiked rates 75 bps, 10-1 vote; further increases likely appropriate. USD supported (USDIndex 104.80), Stocks higher despite Fed (NASDAQ +2.5%, Dow 1.4% & S&P +2%). Despite the Fed effecting the biggest increase in interest rates in 28 years, bonds and stocks rallied hard, underpinned by the fact Chair Powell said the 75 bps was an unusual move and would not be a common action, noting further hikes would be 50 bps or 75 bps. After hitting multi-month lows earlier this week, most regional currencies firmed on Thursday after US Bond Yields and the USD retreated from multi-year highs a day earlier as investors welcomed the Fed’s decision. It is clear that the Fed’s move will keep stagflation concerns alive. Asian markets traded mixed and US futures have pared earlier gains.
 
  • USDIndex¬†held above 104.40.
  • ő•ields 10-year¬†Treasury yield climbed 1.5 bp to¬†3.3%¬†while Australia‚Äôs bonds also moved up.
  • Equities¬†‚ÄstGER40¬†and¬†UK100¬†futures are mixed with the¬†UK100¬†down -0.2% ahead of the BoE decision, the GER40 up 0.3%.
  • Oil¬†settled to¬†115.76¬†after a steep drop, supported by tight oil supply (100k b/d highest since April 2020) and peak summer consumption, after the Fed sparked fears of slower economic growth and less fuel demand.
  • Golds at $1830 ‚Äď safe-haven demand & inflationary hedge buying VS a higher interest rate.
  • Bitcoin¬†down to $20,157.
  • FX markets¬†‚ÄstEURUSD¬†at 1.0409,¬†USDJPY¬†back above 134,¬†Cable¬†down at 1.2100 ahead of BoE.
BoE Preview:¬†The BoE is still set to deliver another 25 bps rate hike this week, but stagflation risks are looking nowhere as serious as in the UK That should prevent the central bank from joining the ‚Äú50 bp club‚ÄĚ of central banks, but for now is unlikely to stop the BoE from sticking to the tightening path. The statement may sound somewhat more cautious now. Even the BoE‚Äôs own scenario suggests a technical recession next year and the latest batch of forecasts from the OECD and others highlight that the economy is under-performing, with the fallout from Brexit, the sanctions against Russia, and political turmoil all weighing on the growth outlook. PM Johnson managed to survive a confidence vote last week, but many feel that his days are numbered. Even within his own party the threat to unilaterally step back from the Northern Ireland protocol is not very popular and rather than uniting the nation behind Brexit, the government is facing an increasingly fragmented union. Nevertheless, with inflation running far above target, the BoE has little choice but to lift rates further for now, especially as house price inflation is also still running at double digits, and wage growth is picking up in tight markets.

2022-06-16_10-39-06.jpg

Biggest FX Mover @ (06:30 GMT) GBPUSD (-0.84%) down to 1.20 area again. Intraday, MAs bearishly crossed, MACD histogram declines but holds above 0, RSI 40 & sloping. H1 ATR at 0.00377 & Daily ATR at 0.01434.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 17th June 2022.

Market Update ‚Äď June 17 ‚Äď Deeply underwater.


Stagflation-01-696x365.jpg
USD drifted (USDIndex 103.15) thanks to the hawkish SNB and BoE, and the potential for a shift from the BoJ. However, the BoJ eventually left policy on hold & maintained its ultra-low rate settings today, despite looking increasingly like the odd one out. Yen sinks. Stocks were crushed, hit by the surge in yields (NASDAQ -4.4%, Dow -2.4% & S&P -3.25%). Weakness in tech also weighed on USA100. VIX rose to an intraday high of 34.43, but dipped to 33.44 late in the day, versus Wednesday’s 29.62. Treasuries are rallying and yields are now richer (2-year declined to 3.10%, 10-year at 3.25%. They were as high as 3.39% and 3.49% on the day). European leaders back Ukraine’s bid to apply for EU membership.
 
    • US mortgage rate surged 55 bps to 5.78%, the biggest weekly jump since 1987.
    • US housing starts plunged -14.4% to 1.549 mln in May, permits fell to 1.695 mln.
    • US Philly Fed index dropped to -3.3 in June, 6-month outlook fell to -6.8.
    • US initial jobless claims slid -3k to 229k in June 11 week.
  • USDIndex¬†rebounded to 104.25 from 103.15.
  • ő•ields 10-year¬†climbed 5.5 bp to 3.25%.
  • Equities¬†‚Äď Nikkei and ASX lost -1.8% today.¬†Elon¬†Musk hints at layoffs¬†in first meeting with Twitter employees.
  • Oil¬†settled at¬†117.50 ‚ÄstOil set for weekly loss as traders weigh monetary tightening, although persisting supply tightness and¬†new sanctions on Iran¬†limited the downside.
  • Gold¬†retested¬†$1856, currently lower at¬†$1845. Platinum and palladium also set for weekly drops.
  • Bitcoin¬†steadily lower at $20k area.
  • Interest rate differentials between¬†Japan¬†and the¬†US¬†will continue to widen, which will keep pressure on the Yen, which at the start of the week was at the lowest level since¬†1998.
  • FX markets¬†‚ÄstEURUSD¬†at 1.0505,¬†USDJPY¬†back above 134.67,¬†Cable¬†at 1.2257 from 1.2405 highs.
  • Today: BoE Pill & Tenreyro speeches, EU HICP & Fed Chair Powell speech.
2022-06-17_09-53-50.jpg

Biggest FX Mover @ (06:30 GMT) CHFJPY (+1.54%) breaks 2013 peak. Intraday, MAs aligned higher, MACD lines extending northwards, RSI 76 & rising. ATR(H1) 0.0524 & ATR(D) at 1.506.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 21st June 2022.

Market Update ‚Äď Stocks & Yields Lift for Summer Solstice.


eu_update_pic_nov18-1-696x391.jpg
USD¬†holds at highs (USDIndex¬†104.16),¬†Stocks¬†closed higher in Europe (DAX¬†+1.01%,¬†FTSE100¬†+1.50%) & Asian shares opened over 1% higher and closed positively (Nikkei¬†+2.09%) US Futures +1.15%.¬†Yields¬†rallied (US 10yr 3.2976%).¬†Oil¬†ticks 2% higher, lifting¬†CAD¬†pairs, after Fridays sell-off and¬†Gold¬†&¬†BTC¬†slide sideways.¬†Yellen¬†talks of a ‚Äúprice cap‚ÄĚ and ‚Äútax‚ÄĚ for Russian oil exports and a tax ‚Äúholiday‚ÄĚ for gasoline in US to ease inflation. (Ruble¬†@ 15 mth high). Japan PM¬†Kishida &¬†FM¬†Suzuki:¬†Rapid yen weakening is a source of concern. RBA‚Äôs¬†Lowe¬†rates need to go higher in low unemployment high inflation Australia.

Week Ahead¬†‚Äď Will be dominated by Central Bank Speak topped by FED Chair¬†Powell‚Äôs¬†2-day testimony to Congress. CPI & PMI data also due this week.
 
  • USDIndex¬†tested 104.00 on Monday and holds at 104.15 today.
  • Equities¬†‚ÄstUSA500¬†closed yesterday (Friday¬†3674), US500FUTS at¬†3725¬†now.
  • Yields¬†10-year yield higher , trades at¬†3.29%¬†now.
  • Oil & Gold¬†had mixed sessions ‚ÄstUSOil¬†recovered over 2% to trade at $110.20.¬†Gold¬†could not hold $1840 and trades at $1835 now.
  • Bitcoin¬†pivots off $20K, to test $21K now.
  • FX markets¬†‚ÄstEURUSD¬†holds at 1.0525,¬†USDJPY¬†holds over 135.00 zone shy of 24-yr high 135.50 and¬†Cable¬†trades up 20 pips to 1.2260.
Overnight ‚ÄstGoldman Sachs ‚Äď US recession in the next year, @30% (was 15%)
 

Today ‚ÄstCanadian Retail Sales, US Existing Home Sales, New Zealand Trade Balance, Speeches from ECB‚Äôs Rehn, Fed‚Äôs Barkin & Mester.

2022-06-21_09-52-08.png

Biggest FX Mover @ (06:30 GMT) CADJPY (+0.30%). Continues to move higher from 101.65 test on Thursday to 104.50, as Oil recovers from sell-off. Next key resistance 104.75 & 105.00. MAs aligning higher, MACD histogram positive & turning higher, RSI 71 ,OB but still rising, H1 ATR 0.139, Daily ATR 1.343.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 22nd June 2022.

Market Update ‚Äď June 22 ‚Äď Stocks rally, USD & Yields hold, Oil & Yen sink.


daily-market-update-696x364.png
USD¬†holds at highs (USDIndex¬†104.51),¬†Stocks¬†closed up over 2% (NASDAQ¬†+2.51%) ‚Äď (1) dead cat bounce & another bear market rally or (2) signs of peak inflation and peak Fed bearishness ? (Technicals & Fundamentals still say 1). Asian shares closed lower on rapid spread of new Omicron (Hang Seng¬†-1.49%)¬†Yields¬†rheld their gains.¬†Oil¬†also slumped (Brent¬†-3.42%)¬†Gold¬†&¬†BTC¬†slide sideways.¬†Biden¬†expected to announce temp. tax reprieve on gasoline, BOJ Mins¬†confirmed they will ease further if necessary ‚Äúwithout hesitation‚Ä̬†USDJPY¬†hits new 24-year high.¬†NZD¬†hit by weak trade data.

2022-06-22_09-00-38.png
 

  • USDIndex¬†tested 103.72 on Tuesday before rallying to 104.55 now.
  • Equities¬†‚ÄstUSA500¬†closed +2.45% (3764), US500FUTS slumped to¬†3719¬†now.
  • Yields¬†10-year yield higher, closed at¬†3.26%¬†, trades at 3.29% now.
  • Oil & Gold¬†had mixed sessions ‚ÄstUSOil¬†slumped 3% to trade at $104.90. Biden & Omicron news weighed &¬†Gold¬†could not hold $1830 and trades at $1825 now on higher Yields and stronger USD.
  • Bitcoin¬†continues to pivot around¬†$20K,¬†test $22K yesterday, back to $20K now.
  • FX markets¬†‚ÄstEURUSD¬†hback under 1.0500,¬†USDJPY¬†hit new¬†24-yr highs¬†at¬†136.71¬†and¬†Cable¬†trades down to 1.2225 now, following Inflation news, from 1.2325 highs yesterday.

Overnight¬†‚Äď UK CPI¬†hits¬†9.1%¬†inline but up from 9.0% last month,¬†CORE¬†a tick lighter at¬†5.9%¬†vs 6.0% & 6.2%,¬†PPI¬†beat¬†2.1%¬†vs 1.8% & 2.7% prior and¬†RPI¬†also hotter at¬†11.7%¬†vs 11.4% & 11.1% last time.¬†NZ Trade Balance¬†less than 50% of forecast at .¬†Reuters Poll¬†Fed Path: 75bp July, 50bp Sept & Oct, and 25bp Nov. (at the earliest).¬†Japanese official¬†‚Äď FX moves against the Yen ‚Äúnot ideal‚ÄĚ
 

Today ‚ÄstCanadian CPI, EZ Consumer Confidence, Speeches from Fed‚Äôs¬†Powell,¬†Barkin, Evans & Harker, SNB‚Äôs¬†Jordan¬†ECB‚Äôs de Guindos & Elderson, BoC‚Äôs Rogers.

2022-06-22_09-50-31.png

Biggest FX Mover @ (06:30 GMT) NZDUSD (-1.18%). Collapsed from test of 0.6360 on Monday & Tuesday to 0.6250, as NZD Trade Balance missed significantly. MAs aligning lower, MACD histogram negative turning lower, RSI 21.25, OS but still falling, H1 ATR 0.00124, Daily ATR 0.00850.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Date : 23rd June 2022.

Market Update ‚Äď June 23 ‚Äď USD & Yields slip, Oil down post Powell.


eu_update_pic_nov18-1-696x391.jpg
USD¬†slips from highs (USDIndex¬†103.80),¬†Stocks¬†closed flat (NASDAQ & DJIA¬†-0.15%)¬†Yields¬†tanked (-4%) after Powell said FED were¬†‚Äústrongly committed‚Ä̬†to the inflation fight and that recession was¬†‚Äúcertainly possible‚ÄĚ.¬†Asian shares mixed (Hang Seng¬†+1.64%,¬†Nikkei¬†+0.8%, Kospi -0.7%)¬†Oil¬†slumped another¬†-2%¬†and¬†Gold¬†&¬†BTC¬†slide sideways.¬†Biden¬†announced tax reprieve on gasoline,¬†but is under increasing political pressure,¬†Johnson¬†faces two more by-election defeats today & national rail strikes on-going, (6th Anniversary of Brexit vote) and¬†Scholz¬†fears gas line shutdown and unable to speak with¬†Putin.¬†USDJPY¬†cooled from new 24-year high as¬†JPY¬†outperformed in Asian session.
 
  • USDIndex¬†tested 103.60 yesterday before recovering to 104.00 now.
  • Equities¬†‚ÄstUSA500¬†closed -4.9 (3759), US500FUTS lower at¬†3756¬†now.
  • Yields¬†10-year yield higher, closed down -479% at¬†3.156%¬†, trades at 3.18% now.
  • Oil & Gold¬†had mixed sessions ‚ÄstUSOil¬†slumped 2.2% to trade under $102 yesterday following Biden & Powell, back to $104.80 now.¬†Gold¬†spiked to $1845 and trades at $1834 now on weaker Yields and USD.
  • Bitcoin¬†continues to pivot around¬†$20K,¬†trades at $20.5K now.
  • FX markets¬†‚ÄstEURUSD¬†tested 106.00 yesterday back to 1.0560,¬†USDJPY¬†cooled from¬†136.71¬†yesterday to test 135.00 earlier & back to 135.83 now.¬†Cable¬†trades down to 1.2230 now from rally to 1.2330 yesterday .
Overnight¬†‚Äď Japanese Manu PMI¬†‚Äď miss (52.7 vs 53.5)¬†UK Public sector borrowing¬†hit¬†¬£14bn¬†last month, the third-highest May since 1993, and worse than the expected ¬£11.6bn.

Today ‚ÄstEZ, UK & US Flash PMIs, US Initial Claims, Policy Announcements from Norges Bank, CBRT & Banxico, US Bank Stress Test Results, Fed‚Äôs Chair¬†Powell¬†Speaks at the House Finance Committee.

2022-06-23_09-53-33.png

Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.68%). JPY out performs today with safe haven bid. Rallied from 93.20 earlier to 93.70, next resistance the significant 94.00. MAs aligning higher, MACD histogram negative & still turning lower, RSI 42.45, and rising, H1 ATR 0.278, Daily ATR 1.49.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 24th June 2022.

Market Update ‚Äď June 24 ‚Äď USD & Yields slips, Stocks tick higher.


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USD slips from highs (USDIndex 104.00), Stocks closed higher (NASDAQ +1.62%) Yields slipped again (-1.66%) after no new news from Powell. Asian shares stronger (Hang Seng +2.24%, Nikkei +1.23%) Oil holds at lows, Gold dipped & BTC picked up. Ukraine gained EU candidacy status. UK PM Johnson’s Conservatives lost the two by-elections, triggering resignation of Party Chairman Dowden. European Futs +1.0%. USDJPY cooled further as NZD & AUD outperformed in Asian session.
 

  • USDIndex¬†tested 104.50 yesterday before slipping back to 104.00 now.
  • Equities¬†‚ÄstUSA500¬†closed +35 (3795), US500FUTS higher at¬†3824¬†now.
  • Yields¬†10-year yield lower, closed down at¬†3.133%¬†, trades at 3.018% now.
  • Oil & Gold¬†had mixed sessions ‚ÄstUSOil¬†rallied to $106.80 before slipping back to $104.50 now.¬†Gold¬†spiked to $1845 again but trades at $1822 now on weaker Yields and USD.
  • Bitcoin¬†continues to pivot around¬†$20K,¬†trades at $20.7k now from a test of 21k.
  • FX Markets¬†‚ÄstEURUSD¬†tested 1.0500 yesterday now back to 1.0536,¬†USDJPY¬†cooled again to 134.60 now.¬†Cable¬†trades at 1.2270 now, from lows at 1.2170 yesterday, despite by-election results and weak Retail Sales data, UK recession risks are stacking up.

Overnight¬†‚Äď Japanese Core CPI¬†inline & unchanged (2.1%)¬†SPPI¬†hotter (1.8%)¬†UK Retail Sales¬†a tick better than expected (-0.5% vs -0.6%) but down significantly from 1.4% last month.

Today ‚ÄstGerman Ifo, US New Home Sales, Speeches from Fed‚Äôs Bullard & Daly, ECB‚Äôs de Cos, BoE‚Äôs Pill,

2022-06-24_09-56-18.png

Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.49%). NZD out performed today. Rallied from 0.62500 test yesterday to 0.6300 now and a key resistance. MAs aligning higher, MACD histogram positive & rising, RSI 56.58 & rising, H1 ATR 0.00127, Daily ATR 0.00843.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Date : 4th July 2022.

Market Update ‚Äď July 4 ‚Äď USD & Stocks hold gains, Yields slip.


US-Update-696x364.png
USD¬†holds around Fridays close (USDIndex¬†104.85),¬†Stocks¬†closed higher on Friday (S&P500¬†+1.06%) but FUTS have slipped and¬†Yields¬†are down again (-4.51%). Asian shares are mixed after Chinese developer Shimao defaults and Covid concerns rise again. (Hang Seng¬†-0.30%,¬†Nikkei¬†+0.84%)¬†Oil¬†ticks higher,¬†Gold¬†tests $1815 &¬†BTC¬†tests $19k. European FUTS also mixed. Russia claims victory in ‚Äúliberated‚ÄĚ Luhansk region and accuses Ukraine of shelling Belgorod. AUD outperforms in Asian session.

Week Ahead¬†‚Äď Topped by¬†NFP¬†on Friday,¬†FOMC Minutes¬†on Wednesday and¬†RBA¬†rate decision tomorrow
 
  • USDIndex¬†tested 105.36 Friday before slipping back to 104.85 now.
  • Equities¬†‚ÄstUSA500¬†closed +39 (3825), US500FUTS lower at¬†3810¬†now.
  • Yields¬†10-year yield lower, closed down at¬†2.889%¬†, trades at 2.880% now.
  • Oil & Gold¬†had mixed sessions ‚ÄstUSOil¬†has rallied to $108.70 now from $104.55 Friday.¬†Gold¬†spiked to $1815 earlier from a $1785 low on Friday.
  • Bitcoin¬†continues to trade under¬†$20K,¬†testing $19K today.
  • FX Markets¬†‚ÄstEURUSD¬†tested under 1.0400 Friday following record CPI (8.6%) now back to 1.0425,¬†USDJPY¬†cooled again to 134.75 on Friday back to 135. 40 now.¬†Cable¬†trades at 1.2110 now, from lows at 1.1975 Friday after weak PMIs.
Overnight¬†‚Äď Australian Building Approvals¬†jumped surprisingly to 9.9% vs -2.0%.¬†German Trade Balance, missed significantly, turning¬†negative¬†at -1.0b vs. 4.2b, &¬†Swiss CPI,¬†hotter at 0.7%.

Today ‚ÄstEZ PPI, Speeches from ECB‚Äôs Elderson, Nagel & de Guindos, US Independence Day holiday.

2022-07-04_09-47-18.jpg

Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.60%). AUD out performed today. Rallied from 91.40 test on Friday to 92.64 now and a key resistance. MAs aligning higher, MACD histogram negative but rising, RSI 58.3 & rising, H1 ATR 0.251, Daily ATR 1.432.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 5th July 2022.

Market Update ‚Äď July 5 ‚Äď USD Hold Gains, RBA Acts, Stocks Steady.


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USD holds at highs (USDIndex 104.85), Stocks closed higher in Europe and hold gains in Asia with US FUTS higher too. Yields are flat but off recent lows. Asian markets buoyed by positive Yellen-Liu He meeting, prospect of Chinese & Australian Fin. Min. meeting this week and better PMI data from Japan & China, all despite action from the RBA. Covid concerns continue to weigh (Hang Seng +0.07%, Nikkei +1.04%) Oil ticks to $110, Gold holds over $1800 & BTC regains $20k. JPY underperforms in Asian. RBA raises rates in line with expectations by 50bp to 1.35%.
 
  • USDIndex¬†tested 105.00 Monday before slipping back to 104.85 now.
  • Equities¬†‚ÄstUSA500¬†closed +39 (3825), Friday US500FUTS higher at¬†3854¬†now.
  • Yields¬†10-year yield lower, closed down Friday at¬†2.889%¬†, trades at 2.880% now.
  • Oil & Gold¬†had mixed sessions ‚ÄstUSOil¬†rallied to $110.40 earlier from $108.00 Monday.¬†Gold¬†holds between resistance at $1815 and support at $1800, trading at $1808 now.
  • Bitcoin¬†continues to trade around¬†$20K,¬†testing $20.3K today.
  • FX Markets¬†‚ÄstEURUSD¬†remains pressured at 1.0430,¬†USDJPY rallied¬†to 136.30 earlier from under 135.00 Monday.¬†Cable¬†trades at 1.2110 now.
Overnight¬†‚Äď China Services PMI‚Äôs better at¬†54.3 vs 47.3,¬†Japanese Service PMI¬†also improve at 54.0 vs 52 last time.

Today ‚ÄstEZ/UK Services and Composite Final PMIs, US Factory Orders, BoE Mins. & FSR, Speeches from BoE‚Äôs¬†Bailey¬†& Tenreyro.

2022-07-05_09-57-09.jpg

Biggest FX Mover @ (06:30 GMT) EURJPY (+0.54%). JPY weaker today. Rallied from under 140.00 Thursday to 142.20 now, next resistance, 142.75 & 143.00. MAs aligning higher, MACD histogram positive & rising, RSI 66.00 & rising, H1 ATR 0.212, Daily ATR 1.402.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 6th July 2022.

Market Update ‚Äď July 6 ‚Äď Dollar Dominates on Global Recession Fears.


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USD moves to 20-year highs (USDIndex 106.34), US Stocks fell 2% on open but closed positively (NASDAQ +1.75%). Global PMI data overall in line. European markets fell 2%+ & Asian markets are negative (Hang Seng -2.38%, Nikkei -1.2%). Yields closed down -2.77%. Oil tanked -8.2% trading under $100, Gold closed under $1765 & BTC rotates at $20k. EUR fell to new 20-year lows with parity in sight. Heavy fighting in Donetsk adds to the sombre mood. UK PM lost two cabinet ministers adding to woes for Johnson and Sterling.
 
  • USDIndex¬†tested 106.55 and remains on Bid at 106.25 now.
  • Equities¬†‚ÄstUSA500¬†closed +6.0 (3831), after a weak day, US500FUTS at¬†3818¬†now.
  • Yields¬†10-year yield lower, closed at¬†2.808%¬†, trades at 2.802% now.
  • Oil & Gold¬†had weak sessions ‚ÄstUSOil¬†tanked under $100.00 to $97.30 lows, back at $100 now.¬†Gold¬†fell to 1762 earlier, 1768 now.
  • Bitcoin¬†continues to trade around¬†$20K,¬†testing $20.1K today.
  • FX Markets¬†‚ÄstEURUSD¬†remains pressured at 1.0260,¬†USDJPY¬†rallied from under 135.00 to 135.80 now. Cable trades at 1.1932 now.
Overnight¬†‚Äď German Factory Orders¬†better at 0.1% from -1.8%.

Today ‚ÄstEZ Retail Sales, US ISM Services PMI,¬†FOMC Minutes, Speeches from Fed‚Äôs Williams & BoE‚Äôs Pill.

2022-07-06_09-58-46.jpg

Biggest FX Mover @ (06:30 GMT) CADJPY (-0.42%). CAD JPY weaker today. Fell from allied from under 106.00 Tuesday to 103.50 today before recovering. MAs aligning lower, MACD histogram neagtive but flat, RSI 41.00 & rising, H1 ATR 0.291, Daily ATR 1.378.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 7th July 2022.

Market Update ‚Äď July 7 ‚Äď Fed focused on Inflation, USD bid, Stocks flat, Gold tumbles.


daily-market-update-696x364.png
USD¬†moved down from new to 20-year highs at¬†107.00¬†but remains in demand (USDIndex¬†106.64), US¬†Stocks¬†flat on close (NASDAQ¬†+0.35%). FED Minutes leaned to the¬†hawkish¬†side. ‚Äst‚Äėmore restrictive‚Äô policy as likely if inflation fails to come down.¬†Asian markets are mostly positive (Hang Seng¬†-0.13%,¬†Nikkei¬†+1.4%).¬†Yields¬†closed up +3.3%.¬†Oil¬†fell another -1.0%,¬†Gold¬†plummeted again to $1735 &¬†BTC¬†rotates at $20k. UK PM Johnson has now lost over 50 members of his government but refuses to resign.¬†AUD¬†outperforms overnight.

Yesterday US ISM Service PMIs were better than expected but still at 25-mth low & JOLTS showed 11.25m job vacancies (1.9 jobs for every unemployed person).
 
  • USDIndex¬†tested 107.00 and remains on Bid at 106.65 now.
  • Equities¬†‚ÄstUSA500¬†closed +0.36% 13.69pts (3845), US500FUTS at¬†3854¬†now.
  • Yields¬†10-year yield higher, closed at¬†2.92%, trades at 2.90% now. Yield curve inverted again yesterday.
  • Oil & Gold¬†had weak sessions ‚ÄstUSOil¬†traded down to $95.10 lows and remains under $100.00 at $98.48.¬†Gold¬†fell to 1732, next support at 1725, trades at 1745 now.
  • Bitcoin¬†continues to trade around¬†$20K,¬†testing $20.3K today.
  • FX Markets¬†‚ÄstEURUSD¬†remains pressured at 1.0200,¬†USDJPY¬†rallied from under 135.00 to test 136.00 now. Cable trades at 1.1950 now.
Overnight¬†‚Äď German Industrial Output missed¬†at¬†0.2%¬†from 1.3%.¬†Australian Trade Balance¬†much better at¬†15.97b¬†vs 10.7b & 13.25b prior.

Today ‚ÄstUS¬†ADP¬†Employment & International Trade, ECB Minutes, EIA Oil Inventories, Speeches from Fed‚Äôs Waller & Bullard, ECB‚Äôs Lane & Enria, BoE‚Äôs Pill.

2022-07-07_10-00-57.jpg

Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.42%). AUD lifted by trade data. Rallied form allied from 91.50 Wednesday to 92.70 today before cooling. MAs aligning higher, MACD histogram positive & rising, RSI 55.24 & rising, H1 ATR 0.227, Daily ATR 1.398.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 8th July 2022.

Market Update ‚Äď July 8 ‚Äď Stocks Rise, USD holds, Johnson Resigns, Abe Shot.


daily-market-update-696x364.png
USDIndex tested 107.00 again following safe haven bids for USD & JPY following shooting of former Japanese PM Shinzo Abe (he remains in a critical condition). US Stocks rallied into close (NASDAQ +2.28%), lifting on hopes of less restrictive FED despite the tone of the minutes. Asian markets were positive before shooting closing flat. (Hang Seng +0.22%, Nikkei +0.1%). European FUTS positive too. Yields closed up +3.85%. Oil rallied 4.3%, Gold flat up 0.2% & BTC rallied to $22k. UK PM Johnson resigned but will remain caretaker PM for now (FTSE100 gained 1.14%, Cable recovered to 1.2000).
 
  • USDIndex¬†holds the bid at 107.00
  • Equities¬†‚ÄstUSA500¬†closed +1.50% 57.54pts (3902), US500FUTS at¬†3899¬†now.
  • Yields¬†10-year yield higher, closed at¬†2.85%, trades at 3.05% now.
  • Oil & Gold¬†had volatile sessions ‚ÄstUSOil¬†traded up to $104 from $96.60 lows and remains over $100.00 at $102.00.¬†Gold¬†fell to $1742, and rotates their currently.
  • Bitcoin¬†rallied from¬†$20K,¬†testing $22.4K today on chatter of major investments coming.
  • FX Markets¬†‚ÄstEURUSD¬†remains pressured at 1.016,¬†USDJPY¬†capped by 136.00 traes at 135.50 now. Cable traded to 1.2050 at 1.2000 now.
Overnight¬†‚ÄstA weak set of data from¬†Japan ‚ÄstHousehold spend -0.5% vs 2.2%, Econ. Watchers Sentiment 52.9 vs. 55.0

Today ‚ÄstUS & Canadian Labour Market Reports, US Wholesale Inventories, Speeches from ECB‚Äôs¬†Lagarde¬†& Fed‚Äôs Williams.

2022-07-08_10-15-33.jpg

Biggest FX Mover¬†@ (06:30 GMT)¬†GBPJPY¬†(‚Äď0.39%). JPY safe haven bid following ABE shooting stemmed the rally to 164.00 from 160.40 on Wednesday. Down to 162.80 now. MAs crossed lower, MACD histogram positive but falling, RSI 44 & falling, H1 ATR 0.319, Daily ATR 1.983.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 11th July 2022.

Market Update ‚Äď July 11 ‚Äď Stocks pressured, USD gains.


daily-market-update-696x364.png
The NFP report was slightly disappointing overall (372k June payroll gain & -74k in downward revisions). USD & Yields spiked, with USDIndex 107.59. Fed funds futures are dropping as the jobs report gives no reason for the FOMC to slow its policy trajectory, keeping a 75 bp hike at the July 26-27 FOMC intact and 50 bp move at the September 20-21 meeting. Stocks remain under pressure. Asian stocks struggled further overnight, with China bourses once again hit by lockdown concerns. Chinese CPI hotter at 2.5% vs 2.1%, but PPI cooler 6.15 vs 6.4%. COT report shows long positions on USD were reduced.

China discovered its first case of a highly transmissible Omicron subvariant in Shanghai and that new cases jumped to 63 in the country’s largest city from 52 a day earlier.
 
  • USDIndex¬†is heading for a new 20 year high ‚Äď eased a bit at¬†107.23.
  • Yields: The 2-year rate is up over 3.119%, 3-year at 3.165% & 10-year higher at 3.095%.
  • Stocks¬†:¬†USA30¬†was down -0.15%, while the¬†USA500¬†was off -0.08%. The¬†USA100¬†rose 0.12%. In Europe, the picture is not much better and¬†GER40¬†and¬†UK100¬†futures are down -1.4% and -1.0%.¬†Twitter¬†fell 5% (with more to come) after MUSK withdrew the $44bln offer. The market mood will be tested by earnings from¬†JPMorgan and Morgan Stanley¬†on Thursday, with¬†Citigroup¬†and¬†Wells¬†Fargo¬†the day after.
  • Oil¬†prices fell slightly today reversing some gains amid lockdown fear in China, i.e. concerns about tight supply. USOIL at $102.96 ‚Äď New mass COVID testing in China potentially hitting demand.
  • Gold¬†steady for a 3rd day at $1,732-$1,750.
  • FX Markets: USDJPY at 137.26 ‚Äď 24-year high.¬†Japan‚Äôs ruling conservative coalition‚Äôs strong election showing indicated¬†no change to lose monetary policies.
Today ‚ÄstFed‚Äôs Williams speech.

2022-07-11_10-54-46.jpg

Biggest FX Mover¬†@ (06:30 GMT)¬†EURUSD¬†(‚Äď0.62%) down to 1.0105. MAs aligning lower, MACD histogram negative & declining, RSI 31, H1 ATR 0.0014, Daily ATR 0.01032.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 12th July 2022.

Market Update ‚Äď July 12 -USD spiked, Oil fell & Euro closer to parity.

USD
 spiked, Oil fell and the Euro inched closer to parity. The strong haven bid rise as the prospect of further tightening by central banks, renewed COVID outbreaks in China and Europe’s energy shortages spooked investors. The Fed’s George, the dissenter in favor of a 50 bp June hike, noted concerns over aggressive policy action & the hawk Bullard still favors a 75 bp move. Recession angst again cropped up and hammered equities with weakness in megacap tech knocking the USA100 down -2.26%. USDIndex above 108.00. Wall Street’s losses have deepened. China imposing strict covid restrictions amid a rise in the subvariant BA.5 Omicron. Earnings season starts on Thursday with JPMorgan kicking it off. It could be a tough season for profits given rising costs. Bloomberg cites IBES data from Refinitive showing Q2 y/y earnings growth of 5.7% which would be the slowest since Q4 2020 and down from 6.8% from April 1.

Twitter Inc TWTR.N sent a letter to Elon Musk¬†saying his effort to abandon his $44 billion takeover is ‚Äúinvalid and wrongful‚ÄĚ and that Twitter has not breached any of its obligations, according to a regulatory filing.
 

  • USDIndex¬†broken through the¬†108.00 level,¬†currently at¬†108.32 ‚Äď highest since October 2002.
  • Yields: 10-year sector was the outperformer yesterday, back below the 3.00% level again to 2.97%.
  • Stocks: USA100¬†tumbled -2.26%. The¬†USA500¬†is off -1.15%, and the USA30 has slid -0.52%.
  • USOIL¬†down to $102.00 support.
  • Gold¬†steady for a 3rd day at $1,730.
  • FX Markets: EURUSD¬†dip to within 4 pips of parity at¬†1.0004,¬†USDJPY¬†spiked to¬†137.47.¬†The¬†AUDUSD¬†slumped and was one of the worst performers versus the USD amid growing recession angst that has overshadowed the two consecutive 50 bp hikes from the RBA.
  • Today ‚ÄstPepsiCo earnings, German ZEW, & BoE‚Äôs Governor Bailey speech

2022-07-12_10-38-35.jpg

Biggest FX Mover @ (06:30 GMT) GBPJPY (-0.25%) Fallen from a test of 164.50 on Monday, to 162.40 now, traded below 162.00 on Thursday. MA’s aligned lower, MACD histogram & signal line lower and below 0 Line, RSI 33.00 and falling. H1 ATR 0.287, Daily ATR 1.895.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Date : 14th July 2022.

Market Update ‚Äď July 14 ‚Äď Focus on PPI & Earnings.


daily-market-update-696x364.png
It was all about June CPI and the report did not disappoint. Risk was for a hot report and the Administration warned of rising pressures. The most dramatic movers were the hot CPI report and the BoC’s 100 bp hike. Those opened the door for an outsized Fed move and in turn heightened risk for a recession. A bearish curve inversion play as the data nail the coffin for a 75 bp hike on July 27, with nontrivial risk of more aggressive action, either with a 100 bp increase which the BoC just effected, or with consecutive 75 bp moves in July and September. USD sustained gains, Oil settled at 200 DMA and Stocks traded mixed. Stocks were up 0.6% and 0.4% in Japan and Australia respectively, the latter helped by a record low unemployment report (50-year low) while Chinese imports continue to linger as the country’s Covid policy keeps a lid on activity. The AUD rallied on the numbers, as traders boosted speculations for a 75 bp rate hike from the RBA in August.
 
  • USDIndex¬†held above¬†108.00 level,¬†but failed to break 3-day resistance.
  • Yields: the 10-year ended over 7 bps lower at 2.89%, reflecting credibility in the FOMC‚Äôs policy stance. Fed funds futures priced in a 54% chance for a 100 bp rate hike on July 27 with rising odds for 170 bps in hikes from here.
  • Stocks: USA100¬†tumbled -0.15%. The¬†USA500¬†is off -0.45%, and the USA30 has slid -0.67%.
  • USOIL¬†traded at $95 holding above 200-day SMA.
  • Gold¬†found a bid but gains were trimmed. Currently down to $1,706.
  • FX Markets: EURUSD¬†holds fractionally above parity at 1.0002,¬†USDJPY¬†skyrocketed to¬†139.28, Cable fell to 1.1856.¬†AUD¬†and to a lesser extent the¬†NZD¬†gained.
  • Today ‚ÄstUS calendar has jobless claims and PPI, but the earning releases are in the spotlight with JPMorgan Chase & Co., Morgan Stanley, First Republic Bank, Cintas etc.
2022-07-14_11-12-04.jpg

Biggest FX Mover @ (06:30 GMT) NZDJPY (+1.62%) breached 85.20. MAs aligned higher, MACD histogram & signal line extend further northwards, RSI above 701 but falling. H1 ATR 0.193, Daily ATR 0.975.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 15th July 2022.

Market Update ‚Äď July 15.

 
eu_update_1200x628-e1567669197104-696x339.png

Trading Leveraged Products is risky

USD steady at 108.50, Oil holds above 200 DMA, Stocks and bonds weaker on poor earnings news and bearish spillover from Europe on recession fears and political turmoil, and dove on the initial PPI print which kept the door open for a hefty 100 bp rate hike from the FOMC at the upcoming July 26-27 meeting. China bourses were under pressure after weaker than expected data that included a 0.4% y/y rise in GDP, which clearly missed expectations for a 1.0% y/y rise.

Equity Market:¬†JPMorgan and Morgan Stanley¬†missed earning forecasts. Net income at both lenders fell nearly 30% in the second quarter as work on IPOs and SPACs dried up. It was the first earnings miss from either JPMorgan ‚ÄĒ the largest US lender by assets and an industry bellwether ‚ÄĒ or¬†Morgan Stanley¬†since the start of 2020.¬†Alibaba Group Holding Ltd.¬†dragged Chinese tech shares lower as concerns about a crackdown on the sector resurfaced after company executives were reported to be facing an¬†inquiry¬†linked to the theft of a vast police database.
 
  • USDIndex¬†garnered strong early support and rose to¬†29on diverging central bank stances and political uncertainties before drifting to¬†108.55.
  • Yields: the 10-year was 2.8 bps higher at 2.961%, versus a 3.02% intraday peak.
  • Stocks:¬†In China, fresh worries of regulatory pressure are adding to a decline in tech stocks. The¬†ASX¬†also struggled and corrected -0.7%, but the¬†Nikkei¬†found a footing and lifted 0.5%, with the¬†GER40¬†gaining nearly 1%, the¬†UK1004%, and a 0.2% rise in the¬†USA100.
  • USOIL¬†traded at $95.50 holding above 200-day SMA.
  • Gold¬†near 5th consecutive weekly loss. Currently down to $1,704.73.
  • FX Markets: EURUSD¬†slumped below parity to¬†9952before it bounced to¬†1.0023,¬†USDJPY¬†is still at a very high level at¬†138.70, Cable at¬†1.1820.
  • Today ‚ÄďUS Retail Sales.¬†Earnings: UnitedHealth Group, Wells Fargo, BlackRock, Citigroup etc.
2022-07-15_10-57-36.jpg


Biggest FX Mover @ (06:30 GMT) CHFJPY (+0.56%) breached 141.66. MAs aligned higher, MACD histogram & signal line extend further northwards, RSI above 70 but falling. H1 ATR 0.212, Daily ATR 1.404.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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Date : 18th July 2022.

Market Update ‚Äď July 18 ‚Äď Stocks Rally, Dollar Dips, Biden Fist Bump.


daily-market-update-696x364.png
USDIndex¬†continued last week‚Äôs slip to test¬†107.60.¬†US data on Friday (Retail Sales, Empire State & UoM Con. Sentiment) all better than expected. Bullard talked 75bp not 100bp for July.¬†US Stocks¬†rallied into close (DOW¬†+2.15%), despite misses from Wells Fargo & BlackRock. Asian markets positive, (Hang Seng¬†+2.42%,¬†Nikkei¬†+0.43%). European FUTS positive too.¬†Yields¬†closed down -1.25% but the rate curve is still inverted.¬†Oil¬†up to $98,¬†Gold¬†up to $1714¬†BTC¬†has rallied to $22k.¬†Biden¬†fist bumped Crown Prince¬†Mohammed bin Salman¬†but got little from visit,¬†Yellen¬†pushes minimum global corporation tax,¬†IMF¬†are ‚Äúexceptionally uncertain‚ÄĚ over global growth &¬†Reuters¬†report on 12 countries on brink of default.

Week Ahead ‚ÄstECB¬†&¬†BOJ¬†Rate Decisions,¬†RBA¬†Mins, a raft of¬†CPI¬†&¬†Retail Sales¬†data and¬†Earnings Season¬†gets into full swing including Banks & IBM today, Netflix, Tesla, Twitter and Johnson & Johnson later in the week.
 
  • USDIndex¬†slides further from Thursday‚Äôs 109.00 to 107.60 now as expectations of a 100bp rate hike next week recedes.
  • Equities¬†‚ÄstUSA500¬†closed +1.92% 72.54pts (3863), US500FUTS at¬†3897¬†now. Citi BIG Earnings beat +13.2%, Wells Fargo profits fell 50% but stock closed +6.2%, United Health +5.4%, BlackRock +2%, Netflix +8.2%, BAC +7.04%.¬†35 companies have reported; 80% have beat estimates.
  • Yields¬†10-year yield higher, from close +2.92%, trades at 2.935% now.
  • Oil & Gold¬†had volatile sessions last week ‚ÄstUSOil¬†trades up back to $100 from $90.90 lows last week, following inconclusive¬†Biden¬†visit to Mid-East; OPEC next meet Aug 3.¬†Gold¬†fell under $1700, last week but back to $1714 now on weaker USD.
  • Bitcoin¬†rallied from¬†$19K,¬†testing $22.2K today on more chatter of major investments coming.
  • FX Markets¬†‚ÄstEURUSD¬†remains pressured at 1.0100 but moving up today,¬†USDJPY¬†down from 139.30 to 138.20 now. Cable trades back to 1.1900 from 1.1760 lows last week. Race to be new PM is reduced to two contenders this week. New PM Sept 5.
Overnight¬†‚Äď NZ¬†CPI hotter than expected (1.7% (32-year high at ) vs. 1.5%).¬†NZD¬†jumped too.

Today ‚ÄstLittle economic data, speech BOE‚Äôs Saunders.¬†Earnings¬†‚Äď Bank of America, IBM, Goldman Sachs & Charles Schwab.

2022-07-18_10-31-45.jpg

Biggest FX Mover @ (06:30 GMT) EURUSD (+0.68%). EUR rallying ahead of ECB this week ? From under Parity (0.9951) on Thursday to 1.01400 now. MAs aligned higher, MACD histogram positive but flat, RSI 69 & rising, H1 ATR 0.00172, Daily ATR 0.01088.

Biggest FX Mover @ (06:30 GMT) EURUSD (+0.68%). EUR rallying ahead of ECB this week ? From under Parity (0.9951) on Thursday to 1.01400 now. MAs aligned higher, MACD histogram positive but flat, RSI 69 & rising, H1 ATR 0.00172, Daily ATR 0.01088.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.


Click HERE to access the full HFM Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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