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HFblogNews
  • Posts: 1167
  • Joined: 28/05/2017
Date : 30th September 2022.

Market Update – September 30 – Quarter End.

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*USDIndex – has dropped back to 112.00, as bonds and stocks remained very jittery into quarter end, month end and week end. The US Q2 chain price indexes accelerated to 9.0% for the headline, and 4.7% for the core. Credibility issues are keeping also buyers sidelined as the central banks are seen having waited too long to address rising price pressures, with worries now that they are overdoing rate hikes and will push the world into recession.
*Yields: The German 10-year rate is down -3.2 bp in early trade, the US rate -4.1 bp.
*UK PM Liz Truss will stick to her plan to reignite economic growth, breaking her silence after nearly a week of financial market chaos.
*German Chancellor Olaf Scholz – set out $196 billion “defensive shield”, including a gas price brake and a cut in sales tax for the fuel, to protect companies and households from the impact of soaring energy prices. That came after the 10.9% German Inflation figure for September.

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*Stocks were headed for their worst month! Nikkei still closed with a loss of -1.8%, the ASX was down -1.2% by end of trade while CSI 300 and Hang Seng are down -0.3% and up 0.1% respectively. However, markets seem to be finding a footing and European and US futures are mostly managing slight gains.
*Japan’s factories ramped up output in August and China’s factory activity returned to growth this month, data showed.
*GBP – has lifted above 1.10
*EUR – is at 0.98.
*JPY – traded at 144.57.
*USOil – steady at $81.
*Gold – rebounded to $1670.
*BTC – steady at 19410
*VIX index has been on the rise and hit 33.46 earlier, just shy of the 34.75 May high, though has yet to really test the 40 area last seen in late 2020.

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Biggest FX Mover @ (06:30 GMT) USA100 back to 11333. Intraday fast MAs aligning higher, MACD histogram & signal line are turning higher but still in negative area, RSI at 54.76, H1 ATR 58.36, Daily ATR 354.98.

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.
HFblogNews
  • Posts: 1167
  • Joined: 28/05/2017
Date : 3rd October 2022.

Market Update – October 3 – New Week, Month & Quarter.

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*USDIndex – Holds Friday’s range at 111.80. Dollar remains in demand following a weak 3rd quarter, HOT CORE CPE inflation on Friday and an emergency FOMC meeting behind closed doors today. Asian stock markets struggle in key Holiday week, risk appetite remains fragile ahead of more rate hikes and US jobs on Friday. The JPY underperforms in the Asian session.
*EUR – Trades at 0.9820 now, capped by an 8-day high at 0.9900 but off last weeks 0.9550 low. Alternative gas supplies began to flow over weekend for Greece, Bulgaria & Poland.
*JPY – Remains weighed as 145.00 is tested once more. Fin. Min. Suzuki – Japan stands ready for “decisive” steps in the foreign exchange market if excessive Yen moves persist.
*GBP – Continued to recover following mini-budget inspired collapse last week. Capped at 1.1200 so far today ahead of Fin Min Kwarteng’s speech. Rumours swirl of U-turns on tax cuts.
*Stocks US stocks moved lower again on Friday remain pressured. Third consecutive Quarterly fall, largest percentage fall for Q3 in the S&P500 in 20 years, 3rd consecutive week lower and 2nd consecutive month lower. The first 9-months of 2022 has been the worst since 2008. APPL, MSFT led tech lower on Friday, biggest losers Nike -12.8% & Carnival -23.3% both following warnings regarding margins due to inflation. Q3 Earnings now expected to be +4.5% down from 11.1% on July 1.

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*USOil rallied over 3% to test $82.00 after weekend reports of OPEC+ cutting production “up to 1.5 million barrels per day”.
*Gold – holds at $1665 but remains capped at $1675.
*BTC – rejected $20.0k on Friday and trades at $19.2k now.

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Today EZ, UK & US Final Manufacturing PMI, US ISM Manufacturing, Speeches from Fed’s Bostic, Barkin, George & Williams, BoE’s Mann & UK Chancellor Kwarteng.

Week Ahead – US Services, RBA & RBNZ Rate decisions, ADP & CAD & US (NFP) Jobs.

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Biggest FX Mover @ (06:30 GMT) NZDJPY (+0.82%) Rallied from Friday’s collapse from 83.00 to 81.00, to test 82.00 today. MAs now aligning higher, MACD histogram & signal line negative but rising, RSI 52.05 & rising, H1 ATR 0.253, Daily ATR 1.233.

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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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