Forex Trading Expert Advisors (EA or automated trading system) and Custom Indicators (CI) for MetaTrader Platform.

Date : 28th March 2022.

Market Update – March 28 – Yen, Oil & Stocks Dive as BOJ Remains “Ultra Loose”.


Trading Leveraged Products is risky

BOJ announced unlimited bond buying policy, but yields still rose and YEN crashed, pulling down Asian stock & Oil markets, also hit by a strict 11-day lockdown in Shanghai (27 mill.). The US Treasury 5-to-30-yr yield curve has inverted for the first time since 2006, history suggests slowdown & possible recession. US 10-yr back over 2.5%. USD bid. APPLE talks of long-term subscription model moving away from selling products, as it reduces supply of iPhone SE & AirPods.

Biden & Blinkin “clarify” – “Putin cannot remain in power” comments, Zelensky talks of neutrality but insists on geographic integrity, walking back earlier comments. Russian & Ukrainian negotiators to meet in Istanbul later. Israel hosts 4-Arab states & Blinkin, NK tests more ICBM’s. Japan tightens FX laws and Crypto loopholes to sanction Russia.

Week Ahead – US NFP (380k), US, UK and Canada GDP and many central bankers’ speeches.

* USD (USDIndex 99.14). closed Friday 98.85. Friday’s US data weak (Pending Home Sales at 2-yr low & Consumer Sentiment at 11-yr low)
* US Yields 10-yr up to 2.53% currently & new 3-yr highs, from Friday’s close 2.492%
Equities – USA500 +22.90 (+0.51%) 4543. US500 FUTS now at 4519 now. (Closed up +1.8% last week – Nasdaq best performer last week +2.0%.
* USOil – Fell to start the new week to $108.94 now – from Friday’s close at $112.50
* Gold – slipped to $1935 now, from Fridays close at $1955.
* Bitcoin breaks up 4.4% from the 42k-45K range to $46,800 now.
* FX markets – EURUSD back to test 1.0950, unable to hold breach of 1.1000, USDJPY over 123.00 & new 7-year highs and Cable back to 1.3130 now, from over 1.3200 on Friday.

European Open-The June 10-year Bund future is down -78 ticks at 157.87, underperforming versus Treasuries. A lockdown in Shanghai weighed on the CSI overnight and left oil prices lower, while the Ukraine war’s drag on Europe’s energy costs is set to remain extremely high, with the resulting spike in the cost of living hitting consumers and consumption trends in many countries. In the UK that has already become apparent and last week’s budget offered not enough relief to soothe concerns. DAX and FTSE 100 are up 0.056% and 0.054% respectively at the moment. A cautious start for stocks then into a data heavy week that brings the final round of Eurozone confidence numbers for March and preliminary inflation reports that are likely to look ugly.

Today – ASEAN summit, US 2yr and 5yr supply, Trade Goods Balance & US Inventories. Speech from BoE Governor Bailey.



Biggest FX Mover @ (07:30 GMT) AUDJPY (-0.98%) Big move against JPY today, continues trend of weaker YEN. MAs aligned higher, MACD signal line & histogram strong but cooling, RSI 71, OB but rising, H1 ATR 0.281, Daily ATR 1.120.

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
Market Analyst
HotForex

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.

Date : 29th March 2022.

Market Update – March 29 – Yields in focus, Oil down again, TESLA rallies.


Trading Leveraged Products is risky

USD holds gains (USDJPY broke 125.00) and Treasury market fell again with US Treasury 5-to-30-yr yield curve remaining inverted suggesting economic slowdown & possible recession. US 10-yr slips back under 2.5%. Oil markets slumped (-1.0%) again on worries from Shanghai lockdown. US stocks rallied (NASDAQ +1.71%) growth stocks (TESLA +8%) gained as Banks & Energy stocks (Exxon -2.81%) fell. Asian markets higher (Nikkei & ASX +0.8%) except Chinese stocks.



BoE’s Bailey warned of a worse energy crisis than in the 70s, & highlighted that the BoE had already softened its rate guidance, even as it hiked rates again and flagged the chance of further tightening. Russian & Ukrainian negotiators meet in Istanbul later today. Limited expectations. Israel/Arab summit talked of united front to confront Iran. Biden proposed $5.79 trillion budget for next year increasing spending on Defence & raising taxes on wealthy. UK Met. Police to issue “Partygate” fines “imminently”.

Overnight – AUD Retail Sales better than expected (1.8% vs 0.9% & 1.8%)) & JPY Unemployment better (2.7% vs 2.8% & 2.8%) German GfK Consumer confidence missed -15.5 vs -14.6 & -8.1 last time).

* USD (USDIndex 99.00). Rallied to top at 99.35 yesterday.
* US Yields 10-yr up to 2.53% new 3-yr highs yesterday, now down to 2.483%
* Equities – USA500 +32.01 (+0.71%) 4575. US500 FUTS now at 4572 now. TSLA suggested another stock split and rallied over 8.0%, AMC up over +45% as the meme stocks raised their heads again.
* USOil – Fell again (over 1.1%) to $102.80 yesterday, but has recovered $105.00.
* Gold – slipped to $1916 yesterday from Friday’s close $1955. Back to $1922 now.
* Bitcoin holds onto gains over 45K to top at 48.1K, yesterday, back to 47.5k now.
* FX markets – EURUSD back to test 1.1000, now after 1.0950 test yesterday, USDJPY over 125.00 & new 7-yr highs back to 123.40 now as JP Government signals worries over weak Yen. Cable back to 1.3066 yesterday, recovered 1.3100 now.

European Open-The June 10-year Bund future is down 33 ticks, while in cash markets the 2-year Treasury yield is up 2.8 bp. Curve flattening continues as markets fret about the risk that aggressive central bank action will sap demand. DAX and FTSE 100 futures are up 0.9% and 0.6% respectively, US futures are also slightly higher, after a largely positive session across Asia, with hopes of progress in scheduled peace talks between Russia and Ukraine this week helping to underpin confidence.

Today – US JOLTS, CB Consumer Confidence & Case-Schiller Housing Index. Speeches from Fed’s Williams, Bostic & Harker, ECB’s Kazimir. EARNINGS – Micron & Lululemon.



Biggest FX Mover @ (07:30 GMT) USDJPY (-0.34%) BOJ & Japanese Government raise concerns over weak Yen, following break of 125.00. MAs turned lower, MACD signal line & histogram now cooling, RSI 49.55, OB but rising, H1 ATR 0.403, Daily ATR 1.123.

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
HotForex

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.

Date : 30th March 2022.

Market Update – March 30 – USD Dips, Stocks Rally, Yen Recovers.


Trading Leveraged Products is risky

USD & Yields dipped and Stocks & Euro rallied (NASDAQ 1.84%) following Russia-Ukraine negotiations. US data (Case-Schiller Housing Index, JOLTS & Consumer Confidence) all stronger than expected adding to high inflation and tight jobs market scenario. Yen recovered on chatter of BOJ intervention, and Oil & Gold dipped before recovering. The yield curve extended it’s inversion as 10-yr yields dipped under 2.0% before lifting. Asian markets followed US higher (Nikkei & ASX +1.0%, Shanghai 1.51%).



Overnight – JPY Retail Sales missed (-0.8%% vs -0.3% & 1.1%) German regional CPI coming in hotter than expected (i.e. North Rhine Westphalia March CPI +7.6% vs +5.3%).

* USD (USDIndex 98.16). Dipped further to 98.00 zone before recovering.
* US Yields 10-yr closed at 2.40% and under 2.0% overnight, now back to 2.36%
* Equities – USA500 +56.01 (+1.23%) 4631. US500 FUTS 4572 now. APPLE rose for an 11th consecutive day (+1.91%), HOOD up over +24% following AMC rally (+45%) the day before and GME dropped -5.11% 45% as the meme stocks raised their heads again.
* USOil – Fell again (over 1.0%) to $98.65 yesterday, but has recovered to $107.00.
* Gold – slipped to $1890 yesterday from Friday’s close at $1955. Back to $1925 now.
* Bitcoin holds onto gains over 45K to top at 48.1K, yesterday, back to 47.4k now.
* FX markets – EURUSD back to test 1.1136 now after 1.0950 test Monday, USDJPY over 125.00 & new 7-yr highs Monday back to 122.00 now as JP Government signals worries over weak Yen. Cable back to 1.3120 now.

European Open-The June 10-year Bund future is up 43 ticks, US futures are also higher, DAX and FTSE 100 futures are down -0.1% and up 0.1% respectively, as the initial euphoria over the positive headlines on the progress of Russia-Ukraine peace talks has faded. It still seems a long way to a final agreement and oil prices have backed up from lows under $100 seen in the wake of the initial headlines on the talks yesterday. Meanwhile concern that aggressive central bank action will sap the recovery is lingering. The 2-10 year part of the U.S. Treasury curve inverted yesterday for the first time since 2019, but while the 2-year has dropped back again since, 3 and 5 year rates are still holding above the 10 year. ECB chief economist Lane was out yesterday repeating that a rate hike in Q4 is not cast in stone and that rate moves will be data dependent.

Today – German CPI Prelim, US ADP & GDP (Final/Q4), Speeches from Fed’s Barkin, Bostic & George, ECB’s Lagarde, BoE’s Broadbent.



Biggest FX Mover @ (07:30 GMT) USDJPY (-0.76%) Fear of BOJ intervention lifted YEN pairs. Next support 121.00 MAs turned lower, MACD signal line & histogram now below 0 line and cooling, RSI 36, H1 ATR 0.310, Daily ATR 1.31.

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
HotForex

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.

Date : 31st March 2022.

Market Update – March 31 – Volatile Q1 Comes to a Conclusion.


Trading Leveraged Products is risky

USD, Yields & Stocks (NASDAQ -1.21%) all dipped. Oil tanked over -6% – President Biden suggested releasing 180 mln barrels from US Strategic Reserve & OPEC stand firm on no production increases. Euro & Yen continued recovery, Gold lifted on weaker USD. Yield curve extended it’s inversion. ADP in-line at 455K ahead of NFP tomorrow, but Final Q4 GDP slipped a tick to 6.9% and German Inflation much hotter (7.3%) than expected, the highest since 1981 when the German bank rate was 11.4% while the ECB hangs on to 0% currently. Asian markets traded cautiously at month-end following the weak lead from the US.

Overnight – Chinese PMIs sink in contraction for first time since 2020 – Manu. 49.5 vs. 49.9 & Services 48.4 vs. 53.2. AUD Building Approvals & JPY Housing Starts both big beats. German Retail Sales fell significantly (0.3% vs 1.4%) UK Final Q4 GDP beats at 1.3% vs 1.0% (2021 final reading 6.6%) House Price Inflation much higher than expected (1.1% vs 0.5%).

* USD (USDIndex 97.88). Dipped further to test 97.70 yesterday before recovering.
* US Yields 10-yr closed at 2.358% , now back to 2.349%.
* Equities – USA500 -29.15 (–0.63%) at 4602. US500 FUTS 4602 now too from 4622. APPLE (-0.66%) broke 11-day run looks to move into Fin. Services, use Chinese chips, HOOD –8.49% & AMC –12.77% continue meme stock volatility. Lululemon (+9.58%) following good Earnings this week.
* USOil – Touched $100.65 after Biden news broke, but has recovered to $102.40.
* Gold – rallied to $1937 yesterday, before falling back to $1922 now.
* Bitcoin holds onto gains over 45K to trade at 47.0k now.
* FX markets – EURUSD rallied to 1.1185 earlier, back to test 1.1165 now, USDJPY holds at 122.00 now from 121.30 lows yesterday as BOJ continue to defend JGB yield ceiling. Cable back to 1.3130 now.

European Open-The June 10-year Bund future is down -15 ticks at 157.01, US futures are little changed. DAX and FTSE 100 futures are fractionally higher.

Today – Month & Quarter End Balancing, German Unemployment, US Weekly Claims, PCE Price Index, OPEC+ Meeting, Speeches from Fed’s Williams, ECB’s Lane & de Guindos.



Biggest FX Mover @ (07:30 GMT) EURAUD (+0.44%) Continues to rally off 4.5 year lows at 1.4535 on Monday. Next resistance 1.5000. MAs aligned higher, MACD signal line & histogram higher but cooling, RSI 70 & rising, H1 ATR 0.0021, Daily ATR 0.152.

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
HotForex

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.

Date : 6th April 2022.

Market Update – April 6 – Treasury yields soared & FOMC Minutes ahead.


Trading Leveraged Products is risky

* USD & Treasury yields have been rising. Stock markets have been under pressure, hit by the surge in yields with the tech-heavy index (USA100) plunging -2.26% as selling picked up into the close.
* The market has priced in a lot of bearish elements, yields shot higher again on hawkish comments from Fed, RBA. Disappointing China PMI reports weighed on both bond and stock market sentiment.
* USOil up to $102.48 as West mulls further sanctions against Russia. – Saudi boosted prices by over by $2 per barrel in late March.
* US coal prices climbed over $100 a ton today for the first time in 13 years after the EU said it is mulling restricting coal imports from Russia.
* US Rates on the 5-, 7-, and 10-year maturities were up almost 17 bps to 2.7108%, 2.678%, and 2.565%, respectively. The bond was 13.5 bps higher at 2.596%, while the 2-year rose over 10 bps to 2.526%. The bear curve steepened to 4.8 bps, after having been inverted for the prior three sessions at -3 bps Monday and -8 bps Friday.
* USD (USDIndex 99.72) rallied from 98.80 yesterday.
* Equities – USA500 -72.15 (1.57%) at 4530. US500 FUTS 4547. Banks & Technology stocks led the broadbased month end decline.
* Gold – steady at $1920 low after 1947 high yesterday.
* Bitcoin closing the gap at 45370?
* FX markets – EURUSD dipped to 1.0883, USDJPY continued to struggle at 124.04, Cable back to 1.3120 now. AUD and NZD also remained supported as yields moved higher.

European Open – The German manufacturing orders came in much weaker than expected, with orders falling -2.2% m/m in February. The actual slump was a surprise that will add to concerns that the German manufacturing sector could be heading for recession as the spike in energy prices and supply chain disruptions hit Germany’s industrial core. Exports orders dropped -3.3% in February.

FOMC preview – The minutes should prove very interesting to the markets as they should provide details on the balance sheet run off. We’ll also read the various comments about the abrupt, hawkish pivot from the FOMC, although we already know that the threat of surging inflation and the likelihood that it would not prove as “transitory” as expected, along with the robust recovery and strength in the labor market, were the major factors that finally forced the Fed to shift into high gear by accelerating the pace of trimming accommodation and then eye aggressive rate hikes. The dot plot reflected the pivot, and Fedspeak since then has affirmed it. Governor Brainard’s comments Tuesday, in fact, indicated the Fed would announce the start of balance sheet reduction as soon as May. She also supported her colleagues’ views on the need for a larger and speedier pace of balance sheet runoff. We will look for details on that in the minutes. We suspect at a minimum the Fed will double the pace of that from the last cycle with $60 bln in Treasuries and $30 bln in MBS, although the still hot housing market could see a higher cap on MBS.



Biggest FX Mover @ (07:30 GMT) USDCHF (+0.37%) At 6-day highs and close to R2 at 0.9331. Next resistance 0.9376. MAs aligned higher, MACD signal line & histogram higher & over 0 line, RSI 77 & rising, H1 ATR 0.00087, Daily ATR 0.00617.

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
HotForex

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.

Date : 11th April 2022.

Market Update – Stocks & Treasuries tank, Oil down again.


Trading Leveraged Products is risky

Yields bid, Stocks sink, EUR recovers, Oil lower – Treasuries dived into close on Friday and are down again to start the week, and all other markets are taking a lead from the pronounced move. Official confirmed BOJ will maintain loose monetary policy.

* Stocks were mixed on Friday (NASDAQ -1.34%) weak in Asia (Covid & weak fixed income markets) & UK & European FUTS. down (-0.2 to 0.6%).
* Yields rally as curve steepens – US 10-yr now at 2.776%.
* EUR picked up after French Election result. USD bid elsewhere.
* USD bid especially vs. weaker JPY (over 125), AUD, CAD & NZD.
* Oil down 2% – after addition reserves released from EIA countries.

Pope calls on Russian & Ukraine leaders to observe Easter truce. Biden to meet Modi and call for no increases in Russian oil imports, Johnson met Zelenskiy in Kiev, Zelenskiy praised Scholz & Germany after meeting. Putin replaces top field General, focuses on Eastern Ukraine, reports he sees victory within 4-weeks.

Overnight – Chinese inflation leaps – CPI 1.5% vs 1.3% & 0.9% previously, PPI cools 8.3%vs. 8.1% & 8.8% previously. Weak UK GDP February m/m GDP +0.1% vs +0.3% m/m expected, other industrial data also missed, pressures Sterling.

Week Ahead – The second week of April has some key data releases topped by the rate decision from the ECB, supported by decisions & outlooks from BOC & RBNZ. Global Inflation data from China, Germany, the UK & US, US Retail Sales data and Australian Jobs data will provide more guidance on the outlook. The week also the heralds the start of the Q1 Earnings Season with the major Wall Street banks all reporting.

* USDIndex rallied to new high 100.17 since May 2020 on Friday, trades at 99.80 now.
* US Yields 10-yr closed higher again at 2.713, up again now to 2.77%.
* Equities – USA500 -12 (-0.27%) at 4488. – US500 FUTS 4476. Technology stocks & Consumer Discretionary led decline, & Energy led value stocks higher. TWTR -3.75% (ahead of Musk declining role on the board).
* USOil – Trades at $95.90 following rally to $98.00 on Friday and dip to $93.78, on Thursday. Oil markets lost over 3% last week.
* Gold – gyrated from $1937 to $1950 on Friday, back to $1945 now.
* Bitcoin continued to decline from key 45k to trade at 42k support now.
* FX markets – EURUSD back to test 1.0900 now from 1.0835 on Friday. USDJPY breaks key 125.00 to trade at 125.20 and Cable sinks back to test 1.3000 as USD bid continues.

European Open – European stocks up from early lows. European stock markets started lower, but have started to find a footing. DAX and FTSE 100 are still down -0.19% and -0.29% respectively, but the French CAC 40 is up 0.4%, against the background of easing election jitters after Macron managed to beat Le Pen in the first round of the presidential election yesterday. The two will now face each other in the final round on April 24, but with the result looking somewhat clearer than some polls had suggested French stocks are looking brighter this morning.

Today – Speeches from Fed’s Williams, Bostic and Evans.



Biggest FX Mover @ (07:30 GMT) EURJPY (+0.99%) Recovering EUR and weaker JPY combine to push pair from 134.35 lows on Friday to 136.60 now. Next resistance 137.00 MAs aligned higher, MACD signal line & histogram higher, RSI 79.50, OB & rising, H1 ATR 0.254, Daily ATR 1.54.

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
HotForex

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.

Date : 12th April 2022.

Market Update – April 12 – Yields & USD Drive On, Stocks, JPY & EUR Lower.


Trading Leveraged Products is risky

Yields remain bid, supporting USD as Stocks sink. JPY & EUR remain weak. Oil recovers, Gold holds gains. –

* Stocks tanked (NASDAQ worst again -2.18%) Weak in Asia (Nikkei -1.72%) & UK & European FUTS. lower (0.2 to 0.6%).
* Yields rally as curve steepens – US 10-yr now at 2.824%.
* EUR fell again after minor rally following French Election result. USD bid elsewhere.
* USD bid especially vs. weaker JPY (over 125.50 ), AUD, CAD & NZD.
* Oil recovered from key support, up over $4/barrel as Shanghai eases some lockdowns.

Biden told Modi that buying Russian oil is not in India’s “interest” & will help. Macron & Le Pen go on Election Blitz, Morrisson kicks off Australian Election campaign. Austrian PM meets Putin for 90 mins. New populist PM in Pakistan raises the min. wage. Zelenskiy says tens of thousands have died in Mariupol.

Overnight – JPY PPI inflation beats – 9.5% vs. 9.2% & 9.7% previously. In line UK Wages & Unemployment with Claims lower. AUD big boost for Business Confidence (16 vs 13) and German HICP at 7.6%, levels last seen in the early 1980s.

* USDIndex rallied to test new high 100.17 , trades at 100.12 now.
* US Yields 10-yr closed higher again at 2.78, up again now to 2.824%.
* Equities – USA500 -75.75 (-1.69%) at 4412. – US500 FUTS 4393. Technology stocks & Consumer Discretionary led decline, TSLA -4.85%, NVDA -5.2% AT&T +7.46%
* USOil – Trades at $97.30 following a dip to $93.00, Shanghai eases some lockdowns.
* Gold – gyrated from $1969 to $1940, yesterday , back to $1958 now.
* Bitcoin continued to decline from key 45k to trade at 39.88k now.
* FX markets – EURUSD back to test 1.0860 now from 1.0935 yesterday. USDJPY breaks key 125.50 to trade at 125.75 and Cable sinks back to test 1.3010 as USD bid continues.

European Open – The German 10-year Bund yield is up 1.5 bp at 0.82%, the 10-year Gilt rate has lifted 1.7 bp at1.86% in opening trade, alongside a 3.3 bp rise in the U.S. Treasury yield. Eurozone spreads, which narrowed yesterday, are mostly wider this morning, especially at the short end, and the US curve has flattened slightly, as the short end underperforms ahead of key US inflation data. Markets are nervous that a higher than expected figure could prompt the Fed to head for an even more aggressive tightening cycle than currently expected and in Europe, the high German inflation reading is putting pressure on the ECB ahead of Thursday’s meeting.

Today – US CPI, (1.2% m/m 8.4% y/y) – but watch the CORE figures for any sign of actual weakness. Speeches from Fed’s Barkin & Brainard.



Biggest FX Mover @ (07:30 GMT) AUDCHF (+0.47%) Recovering from 4-day decline to below 0.6900 at 0.6893 earlier to 0.6935 now. Next resistance 0.6950 & 0.6970. MAs aligned higher, MACD signal line & histogram moving higher but below 0, RSI 56.50 & rising, H1 ATR 0.00105, Daily ATR 0.00685.

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
HotForex

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.

Date : 13th April 2022.

Market Update – April 13 – Inflation & Earnings come into focus.


Trading Leveraged Products is risky

Yields lost their bid, USD held onto gains, Stocks were lifted by the hot US CPI headline data, (new 40-yr high at 8.5%) only to close the day in the red as the CORE figure missed and suggested the top for inflation may be coming sooner than expected. JPY (weak data) & EUR (Putin saying talks at “dead-end”). NZD jumped as RBNZ raised rates by 50bp (largest in 22-yrs). Oil recovered $100, Gold moved higher again.

* Stocks closed marginally lower after strong start. Asia markets stronger (Nikkei +1.68%) & UK & European FUTS marginally higher
* Yields rally cooled, 10-yr from top at 2.836% to close at 2.727% & now at 2.738%.
* EUR fell again after Putin comments.
* USD holds bid, NZD broke 0.6900 briefly as RBNZ said they were not changing their outlook, but just bringing forward rate hike cycle.
* Oil continued to recover and holds over $100 – Shanghai lockdowns ease further but record levels of new COVID infections nationwide.

Biden said Russia has committed Genocide, (additional $750m military aid to Ukraine to come) Putin said Russia will achieve its aims in Ukraine and that talks “have again returned to a dead-end situation for us”. Johnson & Sunak refuse to resign after being fined by the London Met. Police for breaking lockdown rules. More fines to come potentially. Brainard, (Fed Vice Chair), Birkin & Bullard all agreed that aggressive rate hikes were required but disagree what happens afterwards. Brainard sees weaker inflation and a return to pre-pandemic conditions, Birkin & Bullard see inflation, particularly wage inflation, being “sticky” for much longer.

Overnight – JPY Machine Orders & Money Supply miss significantly (-9.8% vs.-1.5%). China Trade Balance (surplus) more than doubles, Exports beat, Imports surprisingly fall. UK Inflation at 30-yr high CPI, (7.0%) CORE (5.7%) RPI (9.0%) & PPI 19.2% – all stronger than expected.

* USDIndex rallied to test new high 100.42 , trades at 100.34 now.
* US Yields 10-yr closed lower at 2.727%, up again now to 2.824%.
* Equities – USA500 -15.08 (-0.34%) at 4397. (A breach of 4400) – US500 FUTS 4418. TWTR (-5.38%) – Earnings Season kicks off today.
* USOil – Trades at $100.30 following a rally to $102.00, Shanghai eases some lockdowns.
* Gold – held $1950 yesterday and tested next resistance at $1975, back to $1970 now.
* Bitcoin continued to decline from key 45k to test 39k zone, recovered to 40k now.
* FX markets – EURUSD back to test 1.0810 earlier, (5-wk lows) now 1.0830. USDJPY breaks 126.00 to trade at 126.15 and Cable sinks back to test 1.2985 as USD bid continues and very hot inflation data weighs.

European Open – Asian stock markets mostly managed gains as markets digested US inflation data that weren’t quite as bad as feared, especially in the core reading. Mainland China bourses struggled though, as hope of easing virus restrictions faded and after trade data showed unexpected weakness in imports, which left the trade surplus higher than anticipated, but added to concern that the domestic economy is struggling with the official “No-Covid” policy. The CSI 300 is currently down -0.3%, the Hang Seng up 0.6%, however, with tech stocks recovering.

Today – US PPI, New Zealand Manufacturing PMI, BoC Policy Announcement, IEA OMR, Earnings from BlackRock, Delta Air Lines, JPMorgan.



Biggest FX Mover @ (07:30 GMT) EURNZD (+0.77%) Dipped to 1.5700 on RBNZ announcement, reversed quickly to test 1.5935 now. Next resistance 1.5970 & 1.6000. MAs aligned higher, MACD signal line & histogram moving higher & over 0, RSI 68 & rising, H1 ATR 0.00357, Daily ATR 0.01640.

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
HotForex

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.

Date : 14th April 2022.

Market Update – April 14 – “Peak Inflation?” & Ms. Lagarde.


Trading Leveraged Products is risky

Yields stabilized lower, USD cooled significantly and Stocks bounced back. BOC added 50 bp to their base rate and warned of more to come. USDCAD sank from 1.2675 down to sub 1.2500. USDJPY hit a 20-year high over 126.00. US PPI lifted to all-time highs (11.2%) following 40-yr highs for CPI (8.5%) on Tuesday. All 13 measures of UK Inflation were higher than expected with CPI at 30-yr highs (7.0%) and a strong CORE (ex. Fuel & Food) at 5.7%, RPI 9.0% (important for wage settlements) and PPI 19.2%.

* Stocks higher (NASDAQ +2.0%) Asia markets stronger too (Nikkei +1.18%) & UK & European FUTS also higher
* Yields rally cooled further, 10-yr closed at 2.69% & now at 2.712%.
* USDIndex cooled from 100.50 highs & trades 99.60 now.
* Equities – USA500 +49 (+1.12%) at 4446. – US500 FUTS 4452. Delta Airlines (+6.21%), AAL (+10.62%). JPM (-3.22%) a miss for Trading volumes. Big Tech bounced (AMZN +3.15%)
* Oil & Gold continued to recover and hold over $103 & $1975 respectively.
* Bitcoin recovered from 39k zone on Tuesday to 41k now.
* FX markets – EURUSD recovered from 1.0808 lows (5-wk+ lows) to now 1.0915. USDJPY cooled from 126.30 20-yr high to trade at 125.40 and Cable recovered from 1.2972 lows to 1.3140 now.

Biden announced an additional $800 million in military assistance to Ukraine, (brings total to 2.5bn). Xi says sticking to tough COVID curbs will bring victory. Markets not convinced. PBOC rate cut imminent? Japan Fin Min. says country has not emerged from deflation, & 76% of Japanese business worried about the weak YEN damaging the economy. Finland & Sweden on brink of NATO membership. Sri Lanka about to default on debt, first of many low income nations?

Overnight – More peak inflation news ?? AUD job growth missed (17.9k vs 30.0k & 77.4k last time) & Unemployment rose (4.0% vs 3.9% & 3.9%). CHF PPI missed and UK House Inflation also slipped.

ECB Preview – Record high inflation and hawkish comments from some council members have left markets positioned for at least one rate hike from the ECB later in the year. However, with no sign that the war in Ukraine will be over any time soon and the sanctions against Russia already starting to cloud over the growth outlook, we suspect that chief economist Lane will want to keep a lid on tightening expectations today. Lane already warned against an “overreaction” to the surge in inflation and that the initial inflationary pressure from a supply shock “should decline over time”. He also highlighted the “significant risks to growth” from the war in Ukraine and the sanctions against Russia, while saying that “the best way that monetary policy can navigate this uncertainty is to emphasize the principles of optionality, gradualism and flexibility“. Lane is also keeping a close eye on spreads as the end of the PEPP program last month has kept peripheral vulnerable to bouts of risk aversion and even suggested that the PEPP program could be revived if necessary. Judging by ECB data released yesterday, the ECB has already blown much of the monthly APP purchases over the first two weeks of the month, clearly also in an attempt to keep a lid on yields and Lane will likely be arguing against an overly hawkish signal today that would further fuel rate hike speculation. That means the event risk is a more balanced statement than markets currently expect. – Action Economics

Today – US Weekly Claims, Retail Sales, Business Inventories & UoM Sentiment, ECB & CBRT Policy Announcements, ECB’s Lagarde, Fed’s Harker & Mester, Earnings from Morgan Stanley, Goldman Sachs and UnitedHealth.



Biggest FX Mover @ (07:30 GMT) NZDUSD (+0.50%) Recovered from 0.6756 lows following RBNZ announcement, to close at 0.6796, testing 0.6830 now. Next resistance 0.6850 & 0.6875. MAs aligned higher, MACD signal line & histogram moving higher & over 0, RSI 64 & rising, H1 ATR 0.00099, Daily ATR 0.00703.

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
HotForex

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.

Date : 15th April 2022.

Market Update – April 15 – Stocks Sink, Yields Rally, EUR & JPY Pressured.


Trading Leveraged Products is risky

USD & Yields rallied significantly, and Stocks sank into long Easter weekend. EURUSD tanked under 1.0800 after ECB confirmed QE is set to end in Q3, but Lagarde was cagey on the actual timing and on the prospect of rate hikes. USDJPY hit a new 20-yr high over 126.50. US Claims missed (185k vs 172K), but remain historically low. Retail Sales were better (+0.5% headline, +1.1% ex-autos & big net upward revisions). UoM Consumer Sentiment surprised to the upside (65.7 vs 59.1). Trade prices beat – record-high 4.5% for exports & 11-yr high of 2.6% for imports. All 4-big banks beat earnings expectations but profits fell and shares varied from Citi +1.55% to Wells Fargo -4.51%. Musk moved to buy Twitter, markets not convinced, but he has a “Plan B” if it fails apparently.

* Stocks lower (NASDAQ +2.14%) Asia markets weaker too (Nikkei -0.31%) with UK & Europe closed today & Monday.
* Yields moved significantly higher, 10-yr moved form 2.69% to close at 2.82%
* USDIndex rallied from lows at 99.50 to highs at 100.75 & trades 100.26 now.
* Equities – USA500 -54 (-1.21%) at 4392. – US500 FUTS closed at 4388. TWTR -1.68% ( +13% pre-market when news broke) TSLA -3.66%, APPL -3.00% NVDA -4.26%, AMD -4.79%.
* Oil & Gold continued to recover and hold over $105 & $1970 respectively.
* Bitcoin sank to 39k zone again from over 41k, trades at 40k now.
* FX markets – EURUSD has recovered 1.0800 from 1.0757 lows yesterday. USDJPY trades at new 20-yr highs at 125.60 and Cable tumbled a whole big number to 1.3050 from 1.3150 yesterday.

Overnight – Mester (hawk) – Job market is “very tight” & inflation is “very elevated”. Williams (centratist) a 50 bp rate increase is a “very reasonable option,” PBOC did not cut interest rates as had been broadly expected.

Today – French CPI in-line at +1.4% m/m. Empire State Manu. Index.



Biggest FX Mover @ (07:30 GMT) USDJPY (+0.65%) Continues to rally posting new 20-yr highs over 126.60. Next resistance 126.75 & 127.00. MAs aligned higher, MACD signal line & histogram moving higher, RSI 69 & rising, H1 ATR 0.151, Daily ATR 1.71.

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
HotForex

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.

Date : 19th April 2022.

Market Update – April 19 – Markets are back.


Trading Leveraged Products is risky

Markets are back today. European as well as US stock futures are moving higher, after a mixed close across the Asia-Pacific region overnight. Heightened geopolitical risks weighed on confidence and mainland China bourses failed to get a real boost from the PBoC’s pledge to support the economy. The Ukraine war and central bank moves will remain in focus, amid further signs of weakening growth and rising inflation in particular in Europe. Hawkish IMF and World Bank meetings are a highlight this week and the World Bank already slashed its growth forecast. RBA: closer to raising interest rates for the first time in more than a decade due to accelerating inflation.

The World Bank lowered its forecast for 2022 growth. The markets also monitored a Goldman Sachs estimate of a 35% risk for a recession over the next two years. – 15-month crisis response package of around $170 bln.

* Yields – The 10-year Treasury yield is down -0.6 bp at 2.85%, while the German 10-year has lifted 2.1 bp to 0.86%, after the extended break.
* Stocks waffled between gains and losses through the session, but finally settled slightly lower with losses of -0.1% on the Dow and NASDAQ, and a -0.02% dip in the USA500. Nikkei closed 0.7% higher. China bourses underperformed and the Hang Seng plunged -2.5% after returning from the extended weekend.
* USDIndex remains on bid, at 100.99 highs.
* Oil edged up to $109.81, from an overnight low of $106 amid the continued supply-demand tug of war. Supply was more of a focal point as two Libyan ports were shut amid anti government protests and the National Oil Corporation declared a force majeure on loadings. Currently steady above $107.00.
* Bitcoin spiked to $41,223.
* FX markets – EURUSD choppy around 1.0780, Cable tumbled below 1.3000, AUDUSD +0.3% supported by RBA minutes at 0.7385.

Today – There is little on this week’s calendar data-wise and today’s slate has just the Housing Starts and Building permits from US. There is Fedspeak from Evans and SNB’s Chairman Jordan.



Biggest FX Mover @ (07:30 GMT) CADJPY (+1.40%) Breached 102.00. MAs still aligned higher, MACD signal line & histogram moving higher, RSI 91 but flattening, H1 ATR 0.197, Daily ATR 0.892.

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
HotForex

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.

Date : 20th April 2022.

Market Update – April 20 – USD slips, Stocks rally, Yields hold, Gold & Oil dive.


Trading Leveraged Products is risky

USD slipped from highs, Yields held onto gains, Stocks rallied and Gold & Oil dived. USDJPY hit a new 20-yr high at 129.40 before a sharp reverse. Kashkari (Dove) re: Inflation, Fed will “have to do more” The IMF & World Bank significantly cut global economic growth. Stocks rallied (NASDAQ +2.15%), Netflix lost 200k subscribers in Q1, (first subscriber loss in 10 years) shares dived -18% after hours having gained +3.18% at the close. Asian Markets broadly higher (Nikkei +0.86%), Chinese markets lower.

* USDIndex spiked over 101.00 & trades at 100.75 as USD cools & Yields hold up.
* Equities – USA500 +70 (+1.61%) at 4462. – Recovering 4400. US500FUTS lower at 4438. NFLX will be marked lower on open after subscriber decline and weak outlook. AAL & UAL gained +5.66% & +4.5% respectively.
* Yields moved significantly higher, 10-yr moved within a smidge of 3.00% earlier from a close at 2.913%
* Oil & Gold both tumbled from Monday highs. USOil tanked from $109.75 to under $102 and trades at $102.80 now. Gold fell from $2 short of $2000 to $1940 now.
* Bitcoin recovered from 39.5k on Monday to over 41.3k now.
* FX markets – EURUSD has recovered 1.0800 from 1.0760 lows yesterday. USDJPY cooled from decade highs to trade at 128.65 and Cable recovered from 1.2980 lows to 1.3025 now.

Overnight – Japan – big miss for Trade balance (-0.90T vs -.058T) (Imports higher due to Energy costs, Exports down due to China lockdowns), Industrial Activity missed significantly (-1.35 vs +0.3%). PBOC did not move rates again, German PPI hotter again (+4.9% vs 1.4% last month).

Today – EZ Industrial Production, Canadian CPI, US Existing Home Sales, French Election TV Debate, Speeches from Fed’s Daly & Evans. Earnings ASML (beat) Carrefour, Danone (beat), Heineken, P&G and United Airlines.



Biggest FX Mover @ (07:30 GMT) AUDUSD (+0.55%) Rallied from lows under 0.7340 yesterday to 0.7430 highs today. Next resistance 0.7450. MAs aligned higher, MACD signal line & histogram moving higher, RSI 65 & rising, Stochs in OB zone. H1 ATR 0.0015, Daily ATR 0.0071.

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
HotForex

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.

Date : 21st April 2022.

Market Update – April 21 – Yields & USD Cool, NFLX & TSLA grab the headlines.


Trading Leveraged Products is risky

USD continued to unwind, Yields dipped on profit taking and moved lower, Stocks very mixed; worst was NASDAQ -1.22%, NFLX -35%, FB -7.7%, IBM +7.10% and TSLA –4.96% (but recovered all of that after hours). Asian Markets also mixed (Nikkei +1.24%, Shanghai -1.77%). Oil & Gold tested key support areas before recovering. Fed officials Daly & Evans talk 50 bp hike necessary in May.

The West is preparing a new military aid package for Ukraine. Ukraine calls for talks on Mariupol withdrawal, Russia tests new ICBM in show of strength says Mariupol will fall on Thursday. Macron & Le-Pen TV face to face – no clear winner but Macron came out better. World faces hunger ‘catastrophe’ as food prices could rise by up to 37% from invasion. Xi, Modi & Serbia restate opposition to Russian sanctions. Johnson in India, calls dealing with Putin like dealing with a “crocodile”.

* USDIndex spikes lower to 100.20 from a test of 101.00 yesterday as USD & Yields cool.
* Equities – USA500 -2.76 (-0.06%) at 4459. – Holds 4400. US500FUTS tick higher at 4470. NFLX wipe out (down –67.7% from Nov. highs as Pandemic stay at home winners suffer.) Ackman’s Pershing Square fund sold entire stake losing $430m from January $1.1 bln investment. TSLA significantly beat EPS & Revenue, profit up $3.3bln, deliveries up 68% at 310K, & supply chains not an apparent problem. MUSK pockets $23bln on results.
* Yields moved significantly lower following 10-yr closed at 2.84% from the attempt at 3% earlier in the week. Trades at 2.87% now
* Oil & Gold both had a volatile session pressured lower. USOil tested under $100.00 and trades at $103.40 now, having tumbled from $109.40 this week. Gold fell to test $1940 zone and trades at $1950 now, having rejected $2000 this week.
* Bitcoin continued to recover from sub 38.5k on Monday to over 41.6k now.
* FX markets – EURUSD has recovered 1.0850 and now tests 1.0900 zone. USDJPY cooled from decade highs to trade at 128.00 and Cable recovered from 1.3000 lows to 1.3075 now.

Overnight – NZD – surprise miss for CPI (1.8% vs 2.0% & 1.4%) PBOC reduced Yuan to November lows after holding off Intertest rate changes.

Today – EZ CPI (Final), US Weekly Claims & Philadelphia Fed, EZ Consumer Confidence (Flash), Speeches from Fed’s Powell, ECB’s Lagarde, BoE’s Bailey & Mann. Earnings from Meggitt, Nestle (in-line), American Airlines, AT&T and Phillip Morris.



Biggest FX Mover @ (06:30 GMT) EURNZD (+0.67%) Rallied from lows under 1.5930 yesterday to 1.6055 highs today. Next resistance 1.6100. MAs aligned higher, MACD signal line & histogram moving higher, RSI 64 & rising, H1 ATR 0.0031, Daily ATR 0.01571.

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
HotForex

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.

Date : 27th April 2022.

Market Update – April 27 – Aggressive central bank moves hanging over markets.


Trading Leveraged Products is risky

Concern over aggressive tightening moves has resurfaced and Australia’s 10-year yield declined, as the short end of the curve was pressured by a jump in headline inflation which lifted to 5.1% y/y in Q1 – the highest level since the introduction of the Goods and Services Tax in the early 2000s. Stocks not surprisingly struggled, although mainland China bourses finally bounced back. Gold was back in demand temporarily and Oil prices backed up, with USOIL at $102.46 now. The Yen sold off, while the USDIndex is moving further above the 102 level. Russia halts gas supplies to Poland and Bulgaria.

* The 10-year Treasury yield is up 4.4 bp, with the curve flattening as the short end underperformed.
* Stocks – Nikkei and ASX meanwhile corrected -1.2% and -0.8% respectively with tech stocks under pressure after the weaker close on Wall Street yesterday. USA100 cratered -3.95%. The USA500 dropped -2.81% and the USA30 sunk -2.38%. GER40 and UK100 are slightly higher at the moment, but underperforming versus US futures.
* Earnings have been mixed but the advent of the key reports ahead left a very cautious environment. While a lot of reports have been better than expected, Q2 outlooks have been cut while guidance has been uncertain. Alphabet was down about 3%, GE disappointed and was the poster child for the headwinds, revealing supply chains problems, rising costs, and shortages of materials and labour.
* USDIndex remains on bid, at 102.52 highs.
* Oil spiked to 102.96, as Russia, which has been demanding payments for its gas in roubles as sanctions over its invasion of Ukraine bite, said it will halt supplies to Poland and Bulgaria from Wednesday.
* Gold back below $1900.
* FX markets – USDJPY over the 128 mark again, EURUSD extends to 1.0615, GBPUSD steady to the downside at 1.2558, USDCAD to 1.2828 highs.

Today – ECB’s President Lagarde speech, BoC’s Rogers speech, BoC’s Governor Macklem speech.



Biggest FX Mover @ (07:30 GMT) AUDJPY (+1.29%) Breached 92. MAs flattened, MACD signal line & histogram moving higher close to neutral zone, RSI at 45, all signalling a pullback. H1 ATR 0.305, Daily ATR 1.195.

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
HotForex

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.

Date : 28th April 2022.

Market Update – April 28 – USD Dominates with FX Markets in Focus.


Trading Leveraged Products is risky

USDJPY rockets higher with 130.00 in the cross-hairs as BOJ leaves main policy steady, to hold 10yr JGB ceiling at 0.25%, while JPY was clobbered across the board again. AUDJPY back to 92.00, GBPJPY 162.00, EURJPY 136.40. The markets continued to mull the implications of the stand off between the EU and Russia over payment modalities for Russian gas deliveries.

* The front on a gradual ban of Russian oil imports has hardened, as Russia upped the ante, but while the EU urged a united front on Russian demands for ruble payments, the European Commission last week seemed open to companies finding ways to tally Moscow’s demands with the EU’s sanctions against Putin and that is what many companies are doing now. In the end it seems unlikely that gas supplies to the EU will stop immediately, although governments will work even harder to become independent of Russian deliveries as soon as possible.
* The 10-year Treasury yield is down –1.1 bp to 2.82%, while JGBs were supported after the BOJ.
* Stocks – ASX lifted 1.2%, and the Hang Seng 0.5%, but the CSI 300 is currently down -0.4%, with Covid developments still in focus. US futures are also higher, with a 1.3% rise in the USA100 leading the way.
* Earnings – Strong earnings from Microsoft and Visa. Facebook owner Meta beat Wall Street forecasts and said it had eked out user growth, sending its shares up almost 20% after hours. Microsoft MSFT.O shares rallied as well. Google-parent Alphabet Inc GOOGL.O fell 3.6% as slowing YouTube ad sales pushed quarterly revenue below expectations. Boeing Co BA.N dropped 7.5% after it disclosed $1.5 billion in abnormal costs from halting 777X production.
* USDIndex the main leader, at 103.70 highs.
* Oil is currently trading at $101.08, with yesterday’s gains already erased. China’s capital Beijing closed some public spaces and stepped up checks at others on Thursday, as most of the city’s 22 million residents embarked on more COVID-19 mass testing aimed at averting a Shanghai-like lockdown.
* Gold drifts to $1885.
* FX markets – Developments are hurting the EUR, which has dropped below 1.0500, while EURGBP fell towards the 0.8394 mark. GBPUSD is also under pressure amid general Dollar strength. AUD and NZD were on the ropes as worries about a recession in Europe and a slowdown in China engulfed risky assets and overwhelmed the promise of rising interest rates at home.

Today – Inflation reports for Germany and Spain are due today, as well as confidence data for Italy.



Biggest FX Mover @ (07:30 GMT) CADJPY (+1.68%) breached 101.90. MAs pointing higher, MACD signal line & histogram moving higher, RSI at 82, all signalling further boost in the near term. H1 ATR 0.277, Daily ATR 1.15.

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
HotForex

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.

Date : 29th April 2022.

Market Update – April 29.


Trading Leveraged Products is risky

Risk appetite surged as optimism over earnings more than overshadowed concerns over the 8% pop in the y/y GDP price gauge and the -1.4% print on Q1 GDP. The contraction in growth was seen as a one-off, however, due to trade disruptions limiting supply alongside a surge in demand following the pandemic, with inventory drawdowns contributing negatively too. Stock markets remained supported overnight, with hopes of support measures in China helping to underpin sentiment, after China vowed to underpin the health of so-called platform firms. Meanwhile, the pick-up in core PCE inflation to a 5.2% y/y pace from 5.0% y/y was also seen on the light side and hence supported notions that prices may be topping out.

European Fixed Income Outlook: Bund yields are down -2.5 bp at 0.87% in early trade, with Eurozone bonds paring some of yesterday’s losses and yields coming down as the unexpected stagnation in French GDP at the start of the year highlighted that there are still reasons for the ECB to remain cautious even as inflation is going through the roof. German import price inflation jumped to 31.2% y/y in March, from 26.3% y/y in the previous month.

* Yields are coming down from yesterday’s highs. The 2-year yield rose over 5 bps to test 2.68% and the 10-year challenged 2.90% before drifting back to 2.63% and 2.85%, respectively.
* Stocks – GER40 and UK100 futures are up around 1.0%, USA100 soared 3.06% on the day, with the USA500 2.47% higher, while the USA30 climbed 1.85%, but all off of late peaks. Japan is closed for a holiday, the ASX up 1.1% at the close.
* Earnings – Meta shares surge after Facebook ekes out user growth; Qualcomm rises after it forecasts upbeat revenue; Apple Inc, the world’s most valuable company, and e-commerce giant Amazon.com Inc rallied more than 4% ahead of their quarterly reports later in the day.
* USDIndex lost some of its recent gains, currently at 103.15.
* Oil at $106.42. Oil prices meanwhile moved higher as overall confidence improved and fears over China’s Covid measures eased somewhat.
* Gold back above $1900.
* FX markets – EUR and Sterling also found some buyers, but while EURUSD and Cable are up from yesterday’s lows, they are still looking pretty weak at currently 1.0548 and 1.2530 respectively. USDJPY still held above the 130.

Today – German and Eurozone GDP are still to come and Eurozone inflation data are also due, while in the US session eyes are on PCE and Canadian GDP. Exxon and Chevron earnings on tap.



Biggest FX Mover @ (07:30 GMT) XAGEUR (+1.27%) breached 22.20. MAs pointing higher, MACD signal line & histogram turned positive, RSI at 62, all signalling further boost in the near term. H1 ATR 0.077, Daily ATR 0.509.

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
HotForex

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.

Date : 2nd May 2022.

Market Update – May 2 – USD hold gains, China data dives, Stocks tank.


Trading Leveraged Products is risky

USD continues to hold onto recent gains, Stocks crashed (NASDAQ -4.17% Friday to close a miserable April and register its biggest daily loss since September and a weekly loss of -3.9%), Asian markets weaker (many closed due to Eid holidays) and European FUTS down over 1.5%. (UK closed today). Yields jumped higher and VIX soared over 7% to 31.30. Oil & Gold both rallied and then gave up all their gains. Weekend data – Chinese Manu & Services PMI’s (47.4 vs 49.5 & 41.9 vs. 48.4) the worst in 2 yrs as lockdowns grip the economy. Berkshire Hathaway invested over $51bn in Q1 inc. Chevron (over $21bn), Occidental ($10bn), HP ($4.2bn) & Alleghany ($11.6bn). US House speaker, Pelosi visited Ukraine promising support ‘until fight is done’.

* USDIndex cooled to under 103.00 on Friday, closed at 103.18, and is back to 103.45, now. April opened at 98.29, a near 5% gain.
* Equities – USA500 -155.57 (-3.63%) at 4131. – US500FUTS at 4145 now. AMZN -14.05%, INTEL -6.94% MSFT & NFLX -4%, APPL -3.66%. Nasdaq lost -13% in April (worst since 2008 Fin. Crisis) S&P500 has lost -13% in 2022 (the worst Jan-April since 1939). 50% of S&P500 companies have reported this Earnings season and 81% have exceeded expectations (average 66%). But outlooks (partic. from AZMN & APPL) have weighed. Volatility is back too, Jan-April there were 33 days with +/- 2% daily moves, in all of 2021 there were just 24.
* Yields moved significantly higher 10-yr closed at 2.887%. Up 1.96% today, at 2.942
* Oil & Gold both had a volatile session moved higher and then reversed to trade lower today. USOil tested to $108.00 on Friday but trades at $103.85 now. Gold tested $1920 zone Friday and trades at $1885 now, below key $1900 handle.
* Bitcoin declined from $40k on Friday to sub $38k to test $39k now.
* FX markets – EURUSD down to 1.0525, USDJPY up from 129.40 to 133.30 now and Cable recovered to 1.2550 now from 1.2410 lows on Friday.

Overnight – JPY – Consumer Confidence missed 33 vs 34.9 and Final Manu PMI in line at 53.5.

Week Ahead – The focus remains on inflation and the much anticipated response from the FOMC, RBA and BOE this week, while the markets price in action from the ECB down the road. The advent of month-end, a holiday in Japan on Friday, and the UK shut today accelerated some profit taking on Wall Street after the early rally. It looks as though many are sidelined into the weekend and ahead of the FOMC where there is a lot of uncertainty over the aggressiveness of the Fed’s normalization path, and the BOE’s ambiguity. Hiking rates too much too quickly would only increase the risk of a stagflation scenario and the BOE’s current policy is already much closer to neutral than the ECB’s. The week also sees NFP, and employment data from Canada, Europe and New Zealand.

Today – German Retail Sales, US ISM Manufacturing, EU Energy Ministers meeting, (Hungary would veto sanctions on Russian energy) Earnings from Italgas, Holidays in UK, China and many Asian countries.



Biggest FX Mover @ (06:30 GMT) USDJPY (+0.49%) Rallied from lows under 1129.40 Friday to 130.45 highs today. Next resistance 130.50 MAs aligned higher, MACD signal line & histogram moving higher, RSI 54 & rising, H1 ATR 0.263, Daily ATR 1.38.

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
HotForex

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.

Date : 6th May 2022.

Market Update – May 6 – Massive U-turn ahead of NFP.


Trading Leveraged Products is risky

The markets did a big U-turn after Wednesday’s post-FOMC rally, and the pop in rates hammered Wall Street. Along with positioning, the recent massive swings in the markets and mostly bearish tones have been fostered by escalating fears over inflation, an overly aggressive tightening path from the Fed, and increasing angst over slowing growth, in other words, “stagflation.” That potential was imbedded in the Q1 productivity report that revealed near record contraction in productivity as well as unit labour costs, leaving a hollow ring to Chair Powell’s beliefs that the Fed can tame inflation and that the economy can achieve a “softish” landing with a “significant chance” of avoiding a “significant slowdown, or a big jump in unemployment.”

RBA flags further tightening ahead. The RBA said in its quarterly monetary policy report that it will need to raise interest rates further, against the background of tightening labour markets that risk triggering a wage price spiral.

* USDIndex at a 5th winning week – breached 103.95. Currently at 103.84 ahead of US jobs report that is likely to back the case for aggressive monetary policy tightening.
* Equities – was crushed by the revived hawkish outlook and the pop in yields. The USA100 dove over -5% but finished with a -4.99% decline. The USA500 tumbled -3.56%, with the USA30 -3.12% lower.
* Yields 10-year up 17 bps to 3.105%, with the 2-year up 10 bps to 2.738%.
* Oil climbed to 111.36 high, after the Biden administration outlined a plan to refill oil reserves (SPR). But it has dropped right back down to 109.34. Reportedly, the Department of Energy will put out a tender for 60 mln barrels in the fall, according to an unnamed source. But the purchases will be at some time in the future, which saw the price fall back. Having the government an assured buyer should provide some support. Meanwhile, the looming EU ban on Russian oil imports and the less hawkish than feared FOMC result have helped calm fears. There were no surprises from OPEC which stuck to its plan for a modest hike in output.
* Gold drifted back to 1866 as the USD and Treasury yields rallied.
* Bitcoin tumbled 8% overnight, hitting at 35,278.
* FX markets – EURUSD at 1.0508, USDJPY holds above the 130.50, Cable down to 1.2333. AUD turns below 0.7100.



Biggest FX Mover @ (06:30 GMT) GBPCHF (-0.73%) declined in the EU open at 1.2157, with next support to 1.2114. MAs & Stochastics bearishly crossed, and RSI is at 36 sloping lower. H1 ATR 0.00169, Daily ATR 0.01081.

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.

Date : 10th May 2022.

Market Update – May 10 – Stocks Stabilize After Huge Risk-Off Monday.


Trading Leveraged Products is risky

USD cools from recent highs, Stocks stall their decline after Monday rout (NASDAQ -4.29%), Yields hold at highs with 10-yr over 3.00%. Gold and Oil both slumped as risk-off rattled markets CB tightening and rising inflation fears continuing to spook sentiment. Asian markets weaker (Nikkei -1.00%) and European Futures all weaker.




* USDIndex tested new at highs at 104.20 yesterday back to 103.60 now.
* Equities – USA500 -132 (-3.20%) at 3991, first close below 4k since March 2021. US500FUTS at 4022 now.
* Yields moved higher, 10-yr closed at 3.079%, holding key 3.00% level. Trades at 3.054% now
* Oil & Gold both had weak & volatile session – USOil tested down to $100.00 before reversing to $102.20 now from opening trades over $109.00. Gold slumped from $1885 zone to $1850 yesterday and struggles at $1860 now.
* Bitcoin crashed through $30K struggling with $32K now.
* FX markets – EURUSD up from 1.0500 to 1.0560, USDJPY holds over 130.00, at 130.40 and Cable continues to struggle – 1.2260 lows were tested yesterday, back to 1.2325.

Overnight Fed’s Kashkari : Reiterates confidence that inflation will return to Fed’s 2.0% target & Fed’s Bostic: 50 bps hike was an aggressive move, Fed can stay at that pace, 75 bps rate hike is low probability.

Today – German ZEW, Speeches from Fed’s Williams, Waller, Bostic, Barkin, Kashkari, Mester, ECB’s de Guindos & BoE’s Saunders, Earnings from Bayer, Porsche, Norwegian Cruise Line & Warner Music.



Biggest FX Mover @ (06:30 GMT) USOIL (-2.17%) drifted to S1 at 108.15 in the EU open. MAs & Stochastics bearishly crossed, and RSI is at 41 sloping lower. H1 ATR 0.91, Daily ATR 4.43.

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.

Date : 11th May 2022.

Market Update – May 11 – All About the Inflation Outlook.


Trading Leveraged Products is risky

USD holds at highs and on standby for US CPI later, Stocks stalled their recent declines, Yields cool a tad as talk of Treasury rout also cools with 10-yr back under 3.00%. Oil paused its 9% slump on EU Oil ban and OPEC talk of capacity issues. Gold under $1850. Asian shares off 2-year lows (Nikkei +0.18%). Chinese Inflation hotter than expected, Biden supports FED actions, more Fed members talk rate hikes, NZ housing market shows signs of cooling. US House of Representatives approves $400bn support package for Ukraine as US intelligence chief talks of Putin preparing for “long war”.

* USDIndex remains under 104.00 but holds its bid trading at 103.75 now.
* Equities – USA500 +9.81 (0.25%) at 4001.05, US500FUTS at 4015 now. Peloton -8.7% @ $12.70 (ATH was $171), COIN -12.6%, TSLA +1.64%, TWTR -1.64% (Musk would allow TRUMP back). APPLE (+1.61%) retired the iPod after 21 years.
* Yields cooled -10-yr closed at 2.993%, below key 3.00% level. Trades down over 1.5% today at 2.98%.
Oil & Gold both had weak & volatile sessions – USOil tested down to $98.00 before reversing to $102.20 Gold slumped from $1865 to $1830 earlier and struggles at $1845 now. No safe-haven bid.
* Bitcoin languishes at $31K now, over 50% down from ATH and -35% YTD
* FX markets – EURUSD up from 1.0500 to 1.0545, USDJPY holds over 130.00, at 130.25 and Cable continues to struggle at 1.2335. AUD outperformed in Asia.

Overnight – CHINA CPI & PPI hotter than expected, (2.1% vs 1.5% & 8.0% vs 7.8%) respectively. JPY leading Indicators better than expected & German M/M CPI in-line at 0.8%. ECB’s Müller: Appropriate to raise rates into positive territory by year-end. Fed’s Waller & Mester more hawkish. (Mester talked of going beyond neutral)

Today – US CPI, Speeches from Fed’s Bostic, ECB’s Lagarde, Schnabel, Elderson, de Cos, Centeno, Vasle & Muller. Earnings from Ubisoft, Siemens Energy, Poste Italiane, E.ON, Continental, ITV, Compass & Beyond Meat.



Biggest FX Mover @ (06:30 GMT) AUDUSD (+0.42%) Rallied from lows at 0.6910 yesterday to 0.6970 now, next resistance 0.6980 and 0.7000 today. MAs aligning higher, MACD signal line & histogram moving higher & testing 0 line, RSI 56 & rising, H1 ATR 0.0016, Daily ATR 0.011.

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.

Date : 12th May 2022.

Market Update – May 12 – Tech Trounced as Inflation Possibly Peaks.


Trading Leveraged Products is risky

USD rallies to new highs following much volatility after US CPI data for April was lower than March but higher than expected, rekindling concern that aggressive central bank action will weigh on growth. Stocks sharply into the red, Yields spiked sharply higher as talk of Treasury rout also cools with 10-yr back under 3.00%. Oil jumped after Russia sanctioned 31 companies & on recession fears. Gold slightly up, but holds below $1860. Bitcoin tumbled to new 16-month low. UK economy shrinks in March, grows 0.8% in Q1. Nomura estimated this week that 41 Chinese cities are in full or partial lockdowns, making up 30% of the country’s GDP. Reuters: “Property developer Sunac China missed a bond interest payment and will miss more as China’s real estate sector remains in the grip of a credit crunch.” New Zealand inflation survey steady.

* USDIndex spiked to 104.20 & holds its bid trading at 104 now.
* Equities – USA500 slid below the 4000 level before bouncing back, into the green with the USA30. But all of the indexes crashed into the close, paced by the USA100’s -3.18% plunge. Nikkei dropped 1.8%, the ASX also -1.8%.
* Yields had jumped to 2.839% and 3.07%, respectively, in the immediate aftermath of the data. 10-year rate closed 6.5 bps lower at 2.920%, with the 2-year up 3 bps to 2.64%.
* Oil breached $106.23 before reversing to $103.46 (PP of the day).
* Bitcoin fire-sale of risky assets as rate hikes gather steam, fell 7% to $26,673.
* FX markets – EURUSD down to 1.0489, USDJPY drifted further on EU open to 129.25, & Cable retests 1.2210. AUD & NZD at 2 year lows.

Today – US PPI & Initial Claims, Speeches from BOC Gravelle.



Biggest FX Mover @ (06:30 GMT) ETHUSD (-12.47%) Down to June 2021 low, at 1787. MAs aligning lower, MACD signal line & histogram extend lower, RSI 27 OS, H1 ATR 90.59, Daily ATR 236.65.

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.

Date : 13th May 2022.

Market Update – May 13 – USD dominates, Stocks lick their wounds.


Trading Leveraged Products is risky

USD holds at highs following hot CPI & PPI data but with signs the peak may have been reached. Stocks stalled their recent declines, closing flat in the US and bouncing in Asian markets (Nikkei +2.6%), Yields climbed as risk appetite improved, Fed Chair Powell still flagged half-percentage point interest rate increases at the next two policy meetings, adding that the Fed is “prepared to do more!” and that stable prices are the “bedrock” of the economy but it will cause “some pain”. Oil continued to rally on supply concerns whilst Gold dipped to within $10 of $1800. Kuroda maintains dovish guidance even as Inflation moves higher, Russia threatens “technical retaliation” as Finland seeks NATO membership, Sweden to follow? Putin “humiliating himself on the world stage” – UK Foreign Sec. Truss.

* USDIndex rallied to within 5 ticks of 105.00 and remains at 20-year highs at 104.75 up from 103.60 last Friday.
* Equities – USA500 -5.10 (0.25%) at 3930, US500FUTS at 3955 now. COIN +8.9%, TSLA -0.82%, (Musk would not back TRUMP in 2024). APPLE -2.69%, GM -4.59%.
* Yields rallied, 10-yr closed at 2.817%, significantly below key 3.00% level. Trades up at 2.89%
* Oil & Gold both had weak & volatile sessions – USOil rallied to test $108.00 earlier today from $98.00 on Wednesday. Gold slump continued with a test of $1810 on open today from highs this week at $1885, struggles at $1822 now. No safe-haven bid.
* Bitcoin languishes at $30K now, but up from $26.5k. 6th consecutive week lower.
* FX markets – EURUSD up from 1.0355 to 1.0400, parity calls rising. USDJPY dived from 130.00, to 127.50 yesterday now back to 128.70 and Cable continues to struggle at 1.2335. AUD again outperformed in Asia.

Overnight – JPY Money Supply better than expected & French M/M CPI in-line at 0.4%.

Today – US Export/Imports Prices, UoM (Prelim.) data, Speeches from ECB’s Schnabel, de Guindos & Fed’s Kashkari.



Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.74%) Rallied from lows at 87.30 yesterday as risk appetite raised it’s head to 89.00 ( and next resistance) earlier. Now back to 88.55. MAs aligning higher, MACD signal line & histogram moving higher & testing 0 line, RSI 48 & rising, H1 ATR 0.346, Daily ATR 1.67.

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
HF 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.

Date : 23rd May 2022.

Market Update – May 23 – USD Dips, Stocks Pressured, Futures Higher.


Trading Leveraged Products is risky

USD slipped again, Stocks had a torrid day on Friday, but recovered in final hour, Bear market talk dominated weekend press. Asian markets rose, and US Futures up 1.6% after improvements in Shanghai covid news as isolation times were reduced, but record cases in Beijing. Biden in Tokyo, offered olive branch to Kim, says US recession “not inevitable” and is willing to us force to defend Taiwan. AUD & NZD rally on new Aussie PM.

* USDIndex down to 12-day low at 102.6 and 5th down day of last seven.
* Equities – USA500 0.57 (0.005%) at 3901, US500FUTS at 3952 now.
* Yields down 10-yr closed at 2.788%, now up at 2.79%
Oil & Gold both had positive sessions – USOil rallied to test $110.00 earlier today from $103.50 on Thursday. Gold holds $1850 today from lows at $1788 last week.
* Bitcoin rotates through $30K – Lagarde says crypto assets are ‘worth nothing.’
* FX markets – EURUSD up from 1.0355 to 1.0600, parity calls falling. USDJPY under 128.00, and Cable back to 1.2570. AUD again outperformed in Asia.

Overnight – GBP House Prices hotter than expected & RBA’s Kent says the Bank’s estimate of the neutral rate is 2 to 3%.

Today – German Ifo Survey, Speeches from BOE’s Bailey ECB’s Villeroy & Fed’s Bostic.



Biggest FX Mover @ (06:30 GMT) AUDUSD (+1.20%) Rallied from lows at 0.7000 on Friday to 0.7125 today, following new labor PM’s election. MAs aligning higher, MACD signal line & histogram moving higher line, RSI 70, OB & rising, H1 ATR 0.0020, Daily ATR 0.0111.

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
HF 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.

Date : 24th May 2022.

Market Update – May 24 – Bear Market Rally?


Trading Leveraged Products is risky

USD slipped again (USDIndex down a whole big number), Stocks rallied as Euro moved higher on rate hike expectations, Asian markets fell (Nikkei -0.97%) after Snap’s profit warning and US Futures are lower. Shanghai & Beijing tightening Covid rules, Biden no change to Taiwan policy, Ukraine is a global issue prodding neutral countries. Zelenskiy says he would meet with Putin to end the war.

* USDIndex down to 102.00 and 6th down day of last eight.
* Equities – USA500 72 (1.86%) at 3973, US500FUTS at 3914 now.
* Yields down, 10-yr closed at 2.83%, now up 2.87%
* Oil & Gold both had negative sessions – USOil down to test $108.75 Gold holds $1850 today, down from 1864.
* Bitcoin rotates through $30K – but under today at 29.8k.
* FX markets – EURUSD up to test 1.0700, parity calls falling. USDJPY under 128.00, at 127.55, Cable up to 1.2580. AUD under performed in Asia.

Overnight – JPY & AUD PMIs miss, NZD retail sales miss and hotter JPY Tokyo CPI all weighed.

Eurozone PMIs disappointed. The German composite PMI unexpectedly improved, but that wasn’t enough to lift the overall Eurozone numbers. The S&P Global Composite PMI dropped to 54.9 from 55.8, with both manufacturing and services readings coming in weaker than anticipated and flagging a renewed deceleration in the pace of expansion. The recovery continues, but at a slower pace and with the balance of risks still tilted to the downside, thanks to the threat of cut off gas deliveries from Russia.

Today – EZ, UK & US Flash PMIs, US ISM Semi-annual Economic Forecast, Speeches from Fed’s Powell, ECB’s Lagarde & Villeroy.



Biggest FX Mover @ (06:30 GMT) NZDJPY (-1.20%) Drifted to 81.79 from 82.80 highs. MAs aligning lower, MACD histogram turned negative however signal line remains above 0, RSI 29, OS & falling, H1 ATR 0.00208, Daily ATR 0.01413.

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
HF 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.

Date : 25th May 2022.

Market Update – May 25 – Stocks Volatile, USD Stable, NZD Surges.


Trading Leveraged Products is risky

USD slipped again, but is stable today (USDIndex 102.00), weak global PMI data & US data missed and Powell adding to rate hike expectations meant Stocks had another volatile session (SNAP lost -43%, and other big tech stocks hit NASDAQ -2.35%) Yields down as treasuries firmed. Asian markets mixed (Nikkei -0.26%) RBNZ raised by 50bps & Gov. Orr had more hawkish outlook than expected (rates to 4%?) NZD surged. NK tested a range of missiles as Biden left Asia, Zelenskiy says Donbas situation critical.

* USDIndex down to 101.64 yesterday back to 102.00
* Equities – USA500 -32 (0.81%) at 3941, US500FUTS at 3962 now. Snap lead some huge declines.
Yields down, 10-yr closed at 2.76%, now 2.77%
* Oil & Gold both had positive sessions – USOil back up to test $111 Gold holds $1860 today, down from $1870.
* Bitcoin rotates through $30K – but under today at $29.8k.
* FX markets – EURUSD up to test 1.0750, holds 1.0700, USDJPY down to 127.00, Cable up to 1.2540. NZD off 5-week low at 0.6515

Overnight – Hawkish RBNZ, German Gfk missed, French Consumer Confidence missed.

Today US Durable Goods, FOMC Minutes, ECB Financial Stability Review, Speeches from ECB’s Lagarde, Lane, Panetta, Fed’s Brainard.

Today – US Durable Goods, FOMC Minutes, ECB Financial Stability Review, Speeches from ECB’s Lagarde, Lane, Panetta, Fed’s Brainard.



Biggest FX Mover @ (06:30 GMT) EURNZD (-1.02%) Tanked from 1.6650 to 1.6425 on Hawkish RBNZ. MAs aligning lower, MACD histogram turned negative crashing signal line RSI 29, OS & falling, H1 ATR 0.0043, Daily ATR 0.01413.

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
HF 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.

Date : 26th May 2022.

Market Update – May 26 – FOMC 100bp by July, USD Stable.


Trading Leveraged Products is risky

USD stable today (USDIndex holds 102.00) following FOMC minutes that showed agreement by “most participants” that 50 bp hikes in June & July would “likely be appropriate”, Stocks had a positive session (NASDAQ +1.50%) and Yields ticked up as treasuries slipped. Asian markets mixed (Nikkei -0.27%) Shanghai reopening gradually (Port is 95% operational & schools from June 6).

* USDIndex rotates at 102.00
*Equities – USA500 +37 (0.95%) at 3978, US500FUTS at 3967 now. NVDA +5% at close but lowered outlook following Earnings announcement, -6.82% after hours.
Yields 10-year yield edged up to 2.781% and the policy-sensitive two-year yield was flat at 2.502%.
*Oil & Gold had mixed sessions – USOil steady after a cautious rally this week back up to $110, Gold is weaker – broke below $1850, down to $1846.
*Bitcoin rotates under $30K – at $29.6k, having touched $28.6k yesterday.
*FX markets – EURUSD up to test 1.0670, breach of 1.0700 limited, USDJPY back over 127.00, at 127.25 Cable up to 1.2550.

Overnight – RBNZ Orr – will move on rates quickly, JPY PPI beats at 1.7% vs 1.5%, World Bank says Russian invasion of Ukraine could cause “global recession”.

Today Today – US GDP (2nd), US IJC, Canadian Retail Sales, UK Chancellor Sunak, Fed’s Brainard. Earnings from Alibaba, Baidu. Ascension Day holidays – Germany, France, Switzerland, Denmark, Sweden, & Norway all closed.



Biggest FX Mover @ (06:30 GMT) EURNZD (-1.02%) Tanked from 1.6650 to 1.6425 on Hawkish RBNZ. MAs aligning lower, MACD histogram turned negative crashing signal line RSI 29, OS & falling, H1 ATR 0.0043, Daily ATR 0.01413.

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
HF 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.

Date : 27th May 2022.

Market Update – May 27 – USD 1-month low, Stocks Rally, Yields Ease.


Trading Leveraged Products is risky

USD sinks to 1-month low (USDIndex 101.43) as CB easing pressures absorbed, despite GDP slipping to -1.5% from -1.3% & Pending Home sales at -3.9% from -1.6%. Stocks had a very strong day on weaker USD (NASDAQ +2.68%) and Yields slipped. Asian markets followed US lead (Nikkei +0.66%, Hang Seng +2.07%) and European FUTS are higher. BOJ’s Kuroda & PM Kishida, talk up YEN and want it stabilized, see core CPI at 2% for next 12-months.

* USDIndex sinks further to 4-week lows trades at 101.55. (-1.5% this week, after -1.37% last week)
* Equities – USA500 +79 (1.99%) at 4057, US500FUTS at 4050 now. Discount Retailers lead markets higher on good Earnings – Dollar Tree +21.87%, Macy’s +19%, Dollar General +13% TSLA +7% NVDA +5%
* Yields 10-year yield edged lower to 2.75% at close and trades at 2.76% now.
* Oil & Gold had mixed sessions – USOil rallied after a cautious week back to test over $114, trades at $13.70 now, Gold is holding over $1850 at $1854.
* Bitcoin continues to weaken under $30K at $28.6k, having touched $27.9k yesterday.
* FX markets – EURUSD up to test 1.0750, breaching 1.0700 again, USDJPY capped under 127.00, having tested 126.50 Cable to 1.2625, from 1.2540 yesterday.

Overnight – JPY – Tokyo Core CPI in line, (1.9%) AUD Retail Sales in line (0.9%)

Today US PCE Price Index, Personal Income & Consumption, Speech from ECB’s Lane.



Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.51%) gave up yesterday’s declines to 0.6450 and retook 0.6500 today, trades at 0.6512 (16-day high). MAs aligning higher, MACD histogram positive & holds 0 line, RSI 65 & rising, H1 ATR 0.0010, Daily ATR 0.0077.

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
HF 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.

Date : 30th May 2022.

Market Update – May 30 – Month-end Rebalancing.


Trading Leveraged Products is risky

Risk appetite continued to surge with Wall Street closing sharply higher on Friday ahead of the long Memorial Day weekend. Worries that an aggressive FOMC policy posture with officials intent on destroying growth to curb inflation have been dissipating. USD down from Friday’s highs (USDIndex 101.39) as Fed bets ease. Today, Stocks had a very strong start to the day as concern over aggressive tightening in the US and China’s virus lockdowns eased somewhat. (NASDAQ +1.4%, Nikkei +2.2%). Shanghai said on Sunday “unreasonable” curbs on businesses will be removed from June 1, while Beijing reopened parts of its public transport as well as some malls. US markets will remain closed for a holiday today, but across the Eurozone Yields are rising as confidence improves and the German 10-year has lifted 4.7 bp to 1.00% in early trade. The Swedish economy contracted -0.8% q/q in Q1, a much weaker than expected result. Spanish HICP inflation hit 8.5% in May, and German import price inflation came in at 31.7% in April readings, up from 31.2% y/y.

* USDIndex extends declines and trades at 101.39. Chair Powell confirming that a 75 bp hike is not on the table for now has helped stabilize investor sentiment and encourage bargain hunters.
* Equities – Nikkei up 1.8% at 27,263.37, a level not seen since April 21, Topix was up 1.59% at 1,916.88. Shares of shipping firms such as ISHIP.T fell 4.3 which was the worst performer. GER40 and UK100 are up 0.9% and 0.4%.
* Yields – German 10-year has lifted 4.7 bp to 1.00% in early trade.
* Oil & Gold up – USOil rallied to $115.80, and Gold retested the $1863 barrier, holding over $1850 at $1854. Markets waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine.
* Bitcoin holds on the back foot – below 31K.
* FX markets – EURUSD up to test 1.0770, USDJPY retests up to 127.34, Cable pull back to 1.2634 from 1.2656 this morning.

Today German HICP, Fed’s Waller speech, New Zealand building permits and Japanese labor data and retail trade.



Biggest FX Mover @ (08:00 GMT) CADCHF (+0.39%) jumped to 0.7550 on EU open, and retook a place above the 50-day SMA. In the 1-hour chart, MAs aligning higher, MACD histogram positive & holds 0 line, RSI 64 & rising, H1 ATR 0.00099, Daily ATR 0.00747.

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
HF 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.

Date : 31st May 2022.

Market Update – May 31.


Trading Leveraged Products is risky

Stock markets traded mixed. Overnight Chinese data showed a slowdown in the pace of contraction in the manufacturing sector. Beijing’s new policy support, which includes cash handouts for hiring graduates and support for internet companies’ offshore listings, supported the sentiment a bit. In the rest of the world though, inflation jitters returned and yields spiked, with Australia’s 10-year up 8.5 bp and the German Bund yield lifting 1.0 bp to 1.06%. US Dollar stabilized as Treasury yields spiked.

European open: Swiss economy stronger than expected at the start of the year. Official GDP numbers beat expectations and showed a quarterly growth rate of 0.5% q/q up from 0.3% q/q in Q4 last year. Services were still held back at the start of the quarter by virus restrictions, and the impact of Russia’s invasion of Ukraine won’t show in these numbers yet. SNB head Jordan warned that the fallout from the war and sanctions against Russia could mean stagflation risks globally, but still, with these numbers, the SNB’s negative interest rate environment will also be challenged.

* USDIndex recovered slightly to 101.79.
* Equities – Nikkei and ASX meanwhile closed with losses of -0.3% and -1.0% respectively as inflation jitters returned and yields spiked. GER40 and UK100 up 0.9% and 0.4%.
* Yields – US 10-year rate has jumped 9.4 bp to 2.83% as markets return from yesterday’s holiday.
* Oil – USOil spiked to $119.20 per barrel as demand expectations pick up and EU leaders agreed a partial ban on Russian oil.
* Bitcoin extended gains above 20-day SMA for the first time since April 7.
* FX markets – USDJPY lifted to 127.33, EURUSD down to 1.0734, Cable below the 1.26 mark.

Today GDP from Switzerland and Canada for Q1, German unemployment, Eurozone HICP. US housing index, Chicago index and Consumer Confidence. The Biden-Powell meeting is also on tap.



Biggest FX Mover @ (08:00 GMT) EURUSD (-0.39%) declined to 1.0730 due to USD strength. MAs aligning lower, MACD histogram zeroed, RSI 35 & falling, H1 ATR 0.00117, Daily ATR 0.00942.

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
HF 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.

Date : 1st June 2022.

Market Update – June 01 – European stocks advance despite data.


Trading Leveraged Products is risky

Wall Street was generally lower, but off its worst levels. Bond and stock bears returned refreshed from the Memorial Day holiday and got right to work, pushing Treasury yields higher and Wall Street lower. Treasuries underperformed globally after comments from Fed Governor Waller on Monday where he supported several more 50 bp rate hikes to curb inflation. Additionally, record high Eurozone inflation and hawkish ECB speak from Villeroy and Visco added to the concerns over central bank tightening. US data were mixed with ongoing record strength in home prices but worsening in consumer sentiment. Today, European stock futures are advancing as Bunds move higher at the open, despite the plunge in German retail sales data at the start of the session, which flagged the impact of rising inflation on consumption trends.

Overnight: President Biden stressed he would not interfere with the Fed’s independence, in comments after meeting with Chair Powell and Treasury Secretary Yellen. Biden said his plan to address inflation “starts with a simple proposition, respect the Fed’s independence.” He also said Powell has noted he has a “laser focus on addressing inflation.” So as expected this was largely a photo op for the president as he tried to assure that he and Chair Powell are addressing inflation.

* USDIndex at 101.97, after 102.17 highs. The buck found renewed strength after comments from Fed Governor Waller who said on Monday, he favored several more half point rate hikes until the inflation rate is brought back toward the 2% target.
* Equities – The USA30 and USA500 closed down -0.67% and -0.63%, respectively, while the USA100 fell -0.41%. DAX and FTSE 100 futures are posting gains of 0.43% and 0.36%.
* Yields – 10-year rate spiked 13 bps to a high of 2.88%, and the 2-year climbed 10 bps to test 2.58%.
* Oil – USOil drifted to 114.05 from 120.45. Oil prices rallied on the economic hopes and news the EU would ban some Russian imports, but then collapsed into the close on reports OPEC+ was considering exempting Russia from production quotas, thus opening the door for increased output from the likes of Saudi and UAE.
* Bitcoin steady at 31,550.
* FX markets – USDJPY spiked to 129.35, with EURUSD at 1.0716, and GBPUSD has dropped below 1.2600, although Sterling is nudging higher against the EUR.

Today Eurozone unemployment rate, ECB Lagarde speech, ISM Manufacturing Index & PMI, BOC Rate Decision and Statement and lots of Fed speeches.



Biggest FX Mover @ (08:00 GMT) XAUUSD (-0.70%) broke the 20- and 200-day SMA. Intraday MAs flattened, MACD histogram & signal line well below 0, RSI 34 but flattening, H1 ATR 3.16, Daily ATR 21.92.

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
HF 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.

Date : 2nd June 2022.

Market Update – June 2 – USD Ticks Higher, Stocks Slip Yields Firmer.


Trading Leveraged Products is risky

USD moved higher (USDIndex 102.43) Stocks had a weak US session (NASDAQ -0.72%) and Yields rallied to 2.931%. Asian markets followed US lower (Nikkei -0.16%, Hang Seng -1.10%) with China closed today. European FUTS are lower (Italy, Spain & France closed & UK closed until Monday). Central bank outlooks and China’s virus lockdowns remain in focus (Shanghai open but zero policy still in place) amid concern that aggressive monetary policy tightening will weigh on growth outlook. BOC increased rates by 50bp & Bullard remained very hawkish, both expected. Oil prices bounced ahead of OPEC+ today – Saudi Arabia ready to boost output should Russian production fall.

* USDIndex rallied to 102.72 from 101.28 & one-month lows on Monday. Back to 102.40 now.
* Equities – USA500 -31 (-0.75%) at 4101, US500FUTS at 4100 now. Walmart & Meta -2.49% (Sheryl Sandberg to leave Meta after 14 yrs as COO)
* Yields 10-year yield higher (2.931% at close), trades at 2.91% now.
Oil & Gold had mixed sessions – USOil sank to $111.60 before correcting to $113 now following SA news ahead of OPEC+ meeting, Gold rallied over $1850 to $1852 from $1830 yesterday.
* Bitcoin slipped back under $30K after 3-day move north. Trades at $29.8K now.
* FX markets – EURUSD down under 1.0700 again to 1.0670, USDJPY breaks over 130.00, Cable trades at 1.2500, from 1.2450 yesterday.

Overnight – AUD Trade Balance significantly better than expected.

Today ADP Employment, Weekly Claims, Weekly Oil Inventories, OPEC+ Meeting, Speeches from Mester & NY Fed’s Logan.



Biggest FX Mover @ (06:30 GMT) USDCHF (-0.54%) A surprise spike in Swiss CPI puts pressure on SNB to act. Pair dived from 0.9640 to 0.9575. MAs aligning lower, MACD histogram negative & breaks 0 line, RSI 35 & falling, H1 ATR 0.0013, Daily ATR 0.0070.

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 HF 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.

Date : 3rd June 2022.

Market Update – June 3 – Wild Swings Continued.


Trading Leveraged Products is risky

Trading is rather directionless this morning in the lead up to the jobs data. USD moved lower (USDIndex 101.70). Stocks extended gains overnight (NASDAQ +2.69%) and Treasuries bounced from red to green and back again. Asian markets managed pretty broad gains, with tech stocks still outperforming after they led yesterday’s rally on Wall Street (Nikkei +1.2%, ASX +0.9%) with China & HK closed today. European FUTS are lower (Italy, Spain & France closed & UK closed until Monday). Treasury announced a $96 bln package of coupon auctions for next week. Yesterday’s data showed strength in jobless claims and weakness in ADP private payrolls and factory orders.

* USDIndex pulled back to 101.70, reverting all the gains from Wednesday.
* Equities – USA500 (+1.84%) at 4189, while the USA30 was 1.33% firmer. The GER40 future is up 0.8% while US futures are looking more cautious as key US payroll numbers come into view.
* Yields 10-year rate was up 0.5 bps to 2.91%, with the 2-year 0.2 bps lower at 2.64%.
* Oil – USOil spiked to $116.27 before correcting to $114.60 now, following the bullish EIA inventory report that overshadowed the boost in production announced by OPEC+ in July and August, only to tumble on reports OPEC+ was considering excluding Russia from production quotas which suggested increased output from Saudi and the UAE to make up for the loss.
* Gold rallied to $1874.
* Bitcoin back above $30k.
* FX markets – USDIndex is slightly lower, EURUSD managed to move up to 1.0755, USDJPY is still holding close to 130.00, Cable is at 1.2574.

NOTE: NFP is unlikely to make any difference in terms of the Fed – but the labor market into Q3 will be an important determinant for the FOMC. Meanwhile, the markets continue to vacillate on risk-on, risk-off flows, and waver on inflation/growth uncertainties, as well as the outlook for the responses from key central banks, while volatility in energy and the ongoing distortions from supply chains also continue to impact.

Today EU Retail Sales, US NFP, ISM Services PMI and Speech from Biden.



Biggest FX Mover @ (06:30 GMT) Cocoa (-1.55%) dipped to 50-period SMA at 2470 from 2537. MAs aligning lower, MACD lines decline but hold above 0, RSI 46 but pointing higher, H1 ATR 19.07, Daily ATR 51.92.

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
HF 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.

Date : 6th June 2022.

Market Update – June 6 – USD & Stocks steady inflation worries still loom.


Trading Leveraged Products is risky

USD remained steady (USDIndex 102.10) Stocks recover a tad from Friday’s post NFP sell off (NASDAQ -2.47%) and Yields also hold onto gains (2.957%). Asian markets mixed in thin trading today (AUD & NZD closed along with many EZ countries). Central bank outlooks, China’s virus lockdowns and inflation data remain in focus – NFP showed a tight jobs market and Earnings holding up, so FED may need to act again in September, Saudi Arabia has increased oil prices & US will allow two companies to import Venezuelan oil into Europe. Musk predicted a gloomy US economy (following Dimon’s comments) and suggested TESLA needed to shrink its workforce by 10% (only to then withdraw the comment), US to pause, for 24mths, tariffs on Solar Panel imports, Kuroda “Japan will not tighten monetary policy”.

* USDIndex rallied to 102.25, back to 102.00 now.
* Equities – USA500 -68 (–1.63%) at 4108, US500FUTS at 4131 now. Worries about a more aggressive FEd during the Autumn weighed on stocks.
* Yields 10-year yield higher (2.957% at close), trades at 2.950% now.
* Oil & Gold had mixed sessions – USOil rallied to $120.86 following Saudi news before slipping under $120, Gold sank from over $1874 on Friday to $1852 now.
* Bitcoin rallied from under $30K on Friday to trade at $31.2K now.
* FX markets – EURUSD under 1.0725 again, USDJPY tested 131.00 brand holds 130.50, Cable trades over 1.2500, a no confidence vote in PM Johnson will take place later today by his own elected MPs.

Overnight CNY Caixin Services PMI missed significantly 41.4 vs. 46.1.

Today A light calendar with Holiday Closures in many parts of Europe and no econ. news scheduled for NA session. All eyes on RBA, ECB & US CPI data later this week.



Biggest FX Mover @ (06:30 GMT) GBPAUD (-0.44%). Rallies from sub 1.7300 on Friday to 1.7400 today following Johnson news. MAs aligning higher, MACD histogram positive & breaks 0 line, RSI 65 & rising, H1 ATR 0.0024, Daily ATR 0.0050.

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 HF 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.

Date : 7th June 2022.

Market Update – June 7 – RBA Surprises, Yields Rocket, Yen Dives.


Trading Leveraged Products is risky

USD moved higher (USDIndex 102.78), Stocks also higher into close (NASDAQ 0.40%) but Futures rocked (-0.60%) by a surprise 50 bps hike from the RBA (25-40 bp expected) and noises that there will be more to come. Yields rallied (US 10yr over 3.00%), Asian markets have mostly slipped, (Nikkei +0.10%) and YEN has tanked (USDJPY at new 20-year high). UK PM Johnson survives no confidence vote (211 vs 118) 41.2% of his own MPs want him out UK Gilts rally GBP sinks. Oil slips but holds on to gains, Gold pressured by rising yields.

* USDIndex rallied to 102.82 ahead of ECB on Thursday & US CPI on Friday.
* Equities – USA500 -12 (-0.31%) at 4121, US500FUTS at 4096 now. More worries, following aggressive RBA, TWTR -1.5% after MUSK suggested he could walk away from the deal, AMZN +2% after 20 for 1 stock split. DIDI +23% & BABA +6%, Chinese regulators are reported to have concluded DIDI investigation.
* Yields 10-year yield higher (2.987% at close), trades at 3.064% now.
* Oil & Gold had weaker sessions – USOil slipped from $120.00 handle to $119.36, Gold sank as Yields rallied from over $1858 to $1840 now.
* Bitcoin rally over $30K was short lived, from $31.8K yesterday to trade at $29.4K now.
* FX markets – EURUSD at 1.0680, under 1.0700 again, USDJPY tested 133.00 zone and holds 132.60, Cable trades down at 1.2430,following political upheaval in UK.

Overnight Mixed data from Japan, Weak UK Housing data and German factory orders missed significantly (-2.7% vs -0.4%).

Today UK Composite/Services PMI (Final), Canadian Trade Balance.



Biggest FX Mover @ (06:30 GMT) USDJPY (+0.67%). Rallies to new 20-yr highs and within a smidge of 133.00 from sub 130.00 on Friday. Next key resistance 134.00 form the Weekly Chart. MAs aligning higher, MACD histogram positive, RSI 77, OB & rising, H1 ATR 0.233, Daily ATR 1.18.

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 HF 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.

Date : 8th June 2022.

Market Update – June 8 – Wait & See Mode Ahead of US Inflation.


Trading Leveraged Products is risky

USD moved lower at close but is currently retaking the 102.50 level. Stocks also higher into close (NASDAQ over 1%) on retailers and energy stocks, Yields cooled (10yr below 3%), Oil rallied over 1% to 13-week high on tight supply from private inventories. Yellen persistent high inflation “Unacceptable”. Demand for the safety of Treasuries picked up after the World Bank slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now face recession. In Asia, a rally in Chinese tech stocks that followed a batch of game approvals helped to keep stock market sentiment supported overnight, and the Hang Seng has gained nearly 2% so far. The CSI 300 is up 0.4%, while ASX and Nikkei lifted 0.4% and 1.0% respectively.

Overnight – JPY GDP beat (-0.1% vs. -0.3%) & Economic Watchers Sentiment better (54.0 vs 51.9), CHF Unemployment in line (2.2%) but German Industrial Production missed significantly (0.7% vs 1.3%).

* USDIndex dipped to 102.24 after Target Corp warned about excess inventory and said it would cut prices, offering some relief to those who think inflation may be peaking.
* Equities – CSI 300 is up 0.4%, while ASX and Nikkei lifted 0.4% and 1.0% respectively. GER40 and UK100 futures are posting gains of 0.3% and 0.2% respectively.
* Yields 10-year yield below the 3% mark helped extend the drop in yields.
* USOIL spiked to $120.35 – low oil inventories, Goldman Sacks – “we now forecast that Brent prices will need to average $135/bbl in 2H22-1H23 (up $10/bbl vs. prior forecast) for inventories to finally normalize by late 2023, the binding constraint to prices in our view. This represents summer retail prices reaching levels normally associated with $160/bbl crude prices”. The CEO of global commodities trader Trafigura said oil prices could soon hit $150 a barrel and go higher this year, with demand destruction likely by the end of the year.
* Bitcoin down to $30320 area now.
* FX markets – USD is continuing its ascent and USDJPY is above 133.53. EURUSD is slightly below 1.07 and Cable is at 1.2560.

Today EU GDP and Employment change, US Wholesale Inventories and EIA Crude Oil Stocks change.



Biggest FX Mover @ (06:30 GMT) Sugar (-3%). Dipped below 20- and 50-day SMA. Next key support at 18.60 from the Weekly Chart. H1 MAs aligning lower, MACD histogram sharply down, RSI 24, OS & declining, H1 ATR 0.12, Daily ATR 0.38.

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.

Date : 9th June 2022.

Market Update – June 9 – European Futures Down Ahead of ECB.


Trading Leveraged Products is risky

USDIndex steady at 102.50 but overall USD on bid. Stocks traded mostly lower, with China bourses hit by news suggesting that virus restrictions in part of Shanghai are already being tightened again amid a rise in case numbers, shortly after Covid lockdowns were lifted. Shanghai will lock down the Minhang district on Saturday morning for mass COVID-19 testing, according to Bloomberg. Hang Seng -0.9%, US stocks closed down over 1% (INTEL -5.28%), Yields back up (10-yr over 3% again), JPY pressured, Brent & WTI rose over 2.5% on tight supply and China opening up. Yellen says some China tariffs still warranted. Bonds are under pressure, with a 6 bp jump in Australia leading the way overnight.

Overnight – China trade surplus widened as exports rebound.

* USDIndex dipped to 102.24.
* Equities – Hang Seng and CSI300 are currently down -0.9% and -0.8% respectively. JPN225 moved sideways, but the ASX lost 1.5%. GER40 and UK100 are both down -0.6% and US futures are also in the red. USA500 finished off -1.08%, while the USA30 was off -0.81% and the USA100 was -0.73% lower.
* Intel rethinks near-term spending plans amid economic uncertainty – freezes some hiring.
* Yields 10-year rose over 6 bps to test 3.045%. The 2-year was 4 bps higher at 2.77%. The 10-year Bund yield is up 0.4 bp at 1.35%.
* USOIL up to $123.13 after stronger-than-expected Chinese exports in May, but found a ceiling amid new Shanghai lockdown restrictions. Gold weaker again below 1850.
* NATGAS futures jump 25% this morning on US LNG outage.
* FX markets – Yen found some support in the near term. USDJPY is above 133.90. EURUSD found some buyers ahead of the ECB meeting, leaving EURUSD at 1.0712, while Cable dropped to 1.2516 and Sterling also declined against the EUR. Turkish lira slid to beyond 17.2.

Today ECB Rate Decision and Statement and US jobless claims.

ECB Preview: Markets are eagerly awaiting today’s press conference. Rate settings are expected to be held steady for now, and while there are some members who see the urgency to act sooner rather than later as inflation goes through the roof, the ECB’s timetable for the phasing out of stimulus effectively excludes a move on rates this week. Net asset purchases need to end first and Lagarde is expected to confirm that this will happen early in July, which would pave the way for a rate hike in July. Lagarde has already mapped out two moves in July and September and the basic scenario is for “gradual” 25 bp steps, although the discussion on a bolder kick off with a 50 bp boost in July has already started. We suspect that Lagarde will stick with a focus on “gradualism” for now. But she will not rule out a 50 bp step as the need to maintain credibility and assert the Bank’s commitment to price stability and the 2% inflation target seem increasingly urgent.



Biggest Mover @ (06:30 GMT) Platinum (-1.92%). Next key support at 970.00. H1 MAs aligning lower, MACD histogram sharply down, RSI 28, OS & declining, H1 ATR 3.91, Daily ATR 24.51.

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.

Date : 10th June 2022.

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


Trading Leveraged Products is risky

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 “what I am focused on”. 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.



* USDIndex rallied to 103.33 apost ECB and ahead of US CPI today.
* Equities – USA500 -98 (-2.38%) at 4017, US500FUTS at 4025 now. AMZN –4% 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 – USOil 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 – EURUSD 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 – PPI 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 US CPI, Canadian Jobs Report, US University of Michigan (Prelim.) & Speech from ECB’s Lagarde.



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.

Date : 14th June 2022.

Market Update – June 14 – Is the ugly Monday over?


Trading Leveraged Products is risky

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.



* USDIndex rallied to 105.10.
* Equities – Hang 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 – USOil 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. – Major cryptocurrency lending company Celsius Network’s freezing of withdrawals delivered the latest jolt to investors in the asset-class.
* FX markets – EURUSD down at 1.0458, USDJPY tested 135 zone, Cable trades up at 1.2200, from 1.2120.

Overnight – 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 German ZEW, US PPI and ECB’s Schnabel speech.



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.

Date : 15th June 2022.

Market Update – June 15.


Trading Leveraged Products is risky

USD down (USDIndex 104.70), Stocks mixed (NASDAQ +0.18%, Dow -0.5% & S&P -0.38%). A boost to Australia’s 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’s curve shifted more than 20 bp higher today. – Yields 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% – bearish for the markets. ECB to hold emergency meeting “to discuss current market conditions”. A Bloomberg source story yesterday suggested that the ECB remains tight lipped on new plan to keep spreads in.



* USDIndex pulled back to 104.78.
* Υields 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 – 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 – 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 – EURUSD rebounded to 1.0498 from 1.0396, USDJPY back below 135 zone, Cable settled at 1.2040.

Today The 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.



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.

Date : 16th June 2022.

Market Update – June 16 – Its all about the Banks.


Trading Leveraged Products is risky

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.

“Against 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,” noted analysts at Goldman Sachs.

* USDIndex held above 104.40.
* Υields 10-year Treasury yield climbed 1.5 bp to 3.3% while Australia’s bonds also moved up.
* Equities – GER40 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 – safe-haven demand & inflationary hedge buying VS a higher interest rate.
* Bitcoin down to $20,157.
* FX markets – EURUSD 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 “50 bp club” 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’s 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.



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.

Date : 17th June 2022.

Market Update – June 17 – Deeply underwater.


Trading Leveraged Products is risky

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.
* Υields 10-year climbed 5.5 bp to 3.25%.
* Equities – Nikkei and ASX lost -1.8% today. Elon Musk hints at layoffs in first meeting with Twitter employees.
* Oil settled at 117.50 – Oil 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 – EURUSD 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.



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.

Date : 21st June 2022.

Market Update – Stocks & Yields Lift for Summer Solstice.


Trading Leveraged Products is risky

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 “price cap” and “tax” for Russian oil exports and a tax “holiday” 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’s Lowe rates need to go higher in low unemployment high inflation Australia.

Week Ahead – Will be dominated by Central Bank Speak topped by FED Chair Powell’s 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 – USA500 closed yesterday (Friday 3674), US500FUTS at 3725 now.
*Yields 10-year yield higher , trades at 3.29% now.
*Oil & Gold had mixed sessions – USOil 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 – EURUSD 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 - BoE Pill & Tenreyro speeches, EU HICP & Fed Chair Powell speech.

Today - Canadian Retail Sales, US Existing Home Sales, New Zealand Trade Balance, Speeches from ECB’s Rehn, Fed’s Barkin & Mester.



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.

Date : 22nd June 2022.

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


Trading Leveraged Products is risky

USD holds at highs (USDIndex 104.51), Stocks closed up over 2% (NASDAQ +2.51%) – (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 “without hesitation” USDJPY hits new 24-year high. NZD hit by weak trade data.



*USDIndex tested 103.72 on Tuesday before rallying to 104.55 now.
*Equities – USA500 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 – USOil 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 – EURUSD 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 - 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 – FX moves against the Yen “not ideal”.

Today - Canadian CPI, EZ Consumer Confidence, Speeches from Fed’s Powell, Barkin, Evans & Harker, SNB’s Jordan ECB’s de Guindos & Elderson, BoC’s Rogers.



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.

Date : 23rd June 2022.

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


Trading Leveraged Products is risky

USD slips from highs (USDIndex 103.80), Stocks closed flat (NASDAQ & DJIA -0.15%) Yields tanked (-4%) after Powell said FED were “strongly committed” to the inflation fight and that recession was “certainly possible”. 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 – USA500 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 – USOil 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 – EURUSD 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 - Japanese Manu PMI – 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 - EZ, UK & US Flash PMIs, US Initial Claims, Policy Announcements from Norges Bank, CBRT & Banxico, US Bank Stress Test Results, Fed’s Chair Powell Speaks at the House Finance Committee.



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.

Date : 24th June 2022.

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


Trading Leveraged Products is risky

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 – USA500 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 – USOil 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 – EURUSD 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 - 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 - German Ifo, US New Home Sales, Speeches from Fed’s Bullard & Daly, ECB’s de Cos, BoE’s Pill.



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.

Date : 4th July 2022.

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


Trading Leveraged Products is risky

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 “liberated” Luhansk region and accuses Ukraine of shelling Belgorod. AUD outperforms in Asian session.

Week Ahead – 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 – USA500 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 – USOil 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 – EURUSD 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 - 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 - EZ PPI, Speeches from ECB’s Elderson, Nagel & de Guindos, US Independence Day holiday.



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.

Date : 5th July 2022.

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


Trading Leveraged Products is risky

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 – USA500 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 – USOil 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 – EURUSD remains pressured at 1.0430, USDJPY rallied to 136.30 earlier from under 135.00 Monday. Cable trades at 1.2110 now.

Overnight - China Services PMI’s better at 54.3 vs 47.3, Japanese Service PMI also improve at 54.0 vs 52 last time.

Today - EZ/UK Services and Composite Final PMIs, US Factory Orders, BoE Mins. & FSR, Speeches from BoE’s Bailey & Tenreyro.



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.

Date : 6th July 2022.

Market Update – July 6 – Dollar Dominates on Global Recession Fears.


Trading Leveraged Products is risky

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 – USA500 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 – USOil 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 – EURUSD remains pressured at 1.0260, USDJPY rallied from under 135.00 to 135.80 now. Cable trades at 1.1932 now.

Overnight - German Factory Orders better at 0.1% from -1.8%.

Today - EZ Retail Sales, US ISM Services PMI, FOMC Minutes, Speeches from Fed’s Williams & BoE’s Pill.



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.

Date : 7th July 2022.

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


Trading Leveraged Products is risky

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. – ‘more restrictive’ 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 – USA500 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 – USOil 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 – EURUSD remains pressured at 1.0200, USDJPY rallied from under 135.00 to test 136.00 now. Cable trades at 1.1950 now.

Overnight - 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 - US ADP Employment & International Trade, ECB Minutes, EIA Oil Inventories, Speeches from Fed’s Waller & Bullard, ECB’s Lane & Enria, BoE’s Pill.



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.

Date : 8th July 2022.

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


Trading Leveraged Products is risky

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 – USA500 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 – USOil 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 – EURUSD 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 - A weak set of data from Japan – Household spend -0.5% vs 2.2%, Econ. Watchers Sentiment 52.9 vs. 55.0.

Today - US & Canadian Labour Market Reports, US Wholesale Inventories, Speeches from ECB’s Lagarde & Fed’s Williams.



Biggest FX Mover @ (06:30 GMT) GBPJPY (–0.39%). 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.

Date : 11th July 2022.

Market Update – July 11 – Stocks pressured, USD gains.


Trading Leveraged Products is risky

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 – 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 – 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 – 24-year high. Japan’s ruling conservative coalition’s strong election showing indicated no change to lose monetary policies.

Today - Fed’s Williams speech.



Biggest FX Mover @ (06:30 GMT) EURUSD (–0.62%) 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.

Date : 12th July 2022.

Market Update – 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 “invalid and wrongful” 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 – 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 – PepsiCo earnings, German ZEW, & BoE’s Governor Bailey speech



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.

Date : 14th July 2022.

Market Update – July 14 – Focus on PPI & Earnings.


Trading Leveraged Products is risky

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’s 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 – US 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.



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.

Date : 15th July 2022.

Market Update – July 15.


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 — the largest US lender by assets and an industry bellwether — 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 –US Retail Sales. Earnings: UnitedHealth Group, Wells Fargo, BlackRock, Citigroup etc.



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.

Date : 18th July 2022.

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


Trading Leveraged Products is risky

USDIndex continued last week’s 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 “exceptionally uncertain” over global growth & Reuters report on 12 countries on brink of default.

Week Ahead – ECB & 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’s 109.00 to 107.60 now as expectations of a 100bp rate hike next week recedes.
* Equities – USA500 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 – USOil 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 – EURUSD 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 – NZ CPI hotter than expected (1.7% (32-year high at ) vs. 1.5%). NZD jumped too.

Today – Little economic data, speech BOE’s Saunders. Earnings – Bank of America, IBM, Goldman Sachs & Charles Schwab.



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.

Date : 19th July 2022.

Market Update – July 19 – USD & Stocks Cool Ahead of Central Banks.


Trading Leveraged Products is risky

USDIndex continued last week’s slip and tested 106.80, before recovering. US Stocks dropped into close following +1% on open (NASDAQ -0.81%) after a plunge in the NAHB home builder index. Goldmans & Bank Of America, beat expectations but saw profits down -47% & -37%, respectively. IBM beat after hours, but shares fell -4.32%. Reports that Apple (-2.06%) is to freeze hiring weighed. Asian markets are choppy, (Hang Seng -0.82%, Nikkei +0.70%). European FUTS also mixed. Yields are up +1.72% & the rate curve is still inverted. Oil holds $100, Gold down to $1710 BTC holds at $22k. Gazprom warnings of European supply issues and 700 new Covid cases reported in China, weigh on sentiment.

Week Ahead – ECB & BOJ Rate Decisions, RBA Mins, a raft of CPI & Retail Sales data and Earnings Season still has more Banks, Johnson & Johnson and Netflix today,with Tesla, Twitter & Snap later in the week.

* USDIndex slides further to test 106.80 and rotates around 107.00 now as expectations of a 100bp rate hike next week evaporate. AUD outperforms in Asian session.
* Equities – USA500 closed -0.84%, 32.31pts (3830), US500FUTS at 3850 now. A strong +1% opening rally was wiped out following weak Housing data and the Apple news.
* Yields 10-year yield higher, into close at 2.986%, trades at 2.96% now.
* Oil & Gold had volatile sessions last week – USOil trades up back under $100 now from a test of $102.00 yesterday. Gold tested to $1724 yesterday but back to $1707 now.
* Bitcoin rallied to $22.8K yesterday and holds $22k now, on more chatter of major investments coming.
* FX Markets – EURUSD remains pressured but tested 1.0200 yesterday & back to 1.016 now and USDJPY is down again to 137.85 now. Cable tested back to 1.2000 from 1.1760 lows last week. Race to be new PM is reduced to two contenders this week. New PM Sept 5.
Overnight – NZ CPI hotter than expected (1.7% (32-year high at ) vs. 1.5%). NZD jumped too.

Overnight – RBA Minutes – “committed to doing what is necessary on inflation” no new insight, UK Earnings (6.2% vs. 6.8%) & Payrolls are weaker and CHF Trade Balance lifted 70 bln CHF.

Today – LEZ CPI (Final), Speech from BoE’s Bailey. Earnings – J&J, Lockheed & Netflix.



Biggest FX Mover @ (06:30 GMT) AUDUSD (+0.60%). AUD continues to recover from last weeks 0.6680 low and no surprises today from RBA Minutes. Next resistance 0.6850 & 0.6900. MAs aligned higher, MACD histogram & signal line higher, RSI 67 & rising, H1 ATR 0.00124, Daily ATR 0.00908.

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.

Date : 20th July 2022.

Market Update – July 20 – Stocks rallied; USD down.


Trading Leveraged Products is risky

USDIndex down to 106.52. US Stocks continued to rally overnight, after European and US markets posted broad gains yesterday (NASDAQ +3.11%) amid strong earnings and the expected resumption of Russian gas supply to Europe helping lift risk-on sentiment and ease fears of a recession. UK CPI inflation lifted to 9.4% y/y in June from 9.1% y/y in the previous month. Core inflation eased slightly, but at 5.8% y/y still remains far, far above target. German PPI inflation eased slightly.

Earnings: Netflix shares jumped after earnings beat; it lost fewer subscribers than expected and says cheaper ad tier is coming in early 2023. Boeing rose on deal to sell jets to 777 Partners, Johnson & Johnson and IBM fell on dollar impact warning, Halliburton, Hasbro & Truist rose after profit beat. Johnson & Johnson beat analysts’ estimates on strength in its pharmaceuticals unit, even as the company cut its full-year adjusted profit forecast due to a stronger Dollar. Twitter Inc. and Elon Musk will go to trial in October over whether the billionaire must complete his $44 billion acquisition of the social media company, a Delaware judge ruled on Tuesday. Amazon.com filed a lawsuit against the leaders of more than 10,000 Facebook groups it accused of publishing fake reviews on the e-commerce site, the company announced on Tuesday.

* USDIndex is mired at two-week lows to 106.52. It has fallen 2 handles in two days from a 20+ year high of 108.54 last Thursday.
* Equities – USA500 climbed 2.76%, USA100 surged 3.11% followed by a 2.43% jump in the USA30. JPN225 gained 2.7%, the ASX 1.7% and Hang Seng and CSI lifted 1.6% and 0.2% respectively.
* Yields 10-year Treasury yield is up 0.2 bp at 3.02%.
* Oil down to 98.70 & Gold steady at $1707.
* FX Markets – EURUSD has climbed to 1.0233 ahead of Thursday’s ECB meeting. USDJPY has corrected to 137.52. Cable at 1.2008.

Today – Canadian CPI. Earnings – Tesla, ASML Holding, Abbott Laboratories etc. For Europe the day of reckoning will come tomorrow when the ECB meeting coincides with the day the Nordstream 1 pipeline is supposed to re-open after scheduled maintenance work. If Russia doesn’t re-open and the ECB announcement disappoints Eurozone stocks and the EUR are likely to sell off in tandem with Eurozone peripherals.



Biggest FX Mover @ (06:30 GMT) US100 (+3.10%). Spiked to 12,356. Next resistance 12,600 & 12,945. MAs aligned, turning lower in 1-hour chart, MACD histogram & signal line hold higher, RSI 66 but falling.

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.

Date : 21st July 2022.

Market Update – July 21.


Trading Leveraged Products is risky

USDIndex down to 106.62. BoJ stuck to its ultra-accommodative policy stance. Asian markets traded mixed. European and US futures are higher now after paring earlier losses in the wake of reports that the Nordstream 1 pipeline was re-opened as planned. (NASDAQ +1.58%). European markets will wait for the ECB and news on the new anti-fragmentation tool, which may be needed quickly after Italian PM Draghi lost the confidence vote yesterday, with three of his coalition partners withdrawing support. Draghi is likely to resign this morning.

Earnings: Tesla reported adjusted earnings of $2.27 per share on $16.93 billion in revenue in Q2 2022 (+42% revenue). Automotive margins decreased from last quarter and a year ago, impacted by inflation and more competition for EV components. Shares of Alcoa and CSX jumped in extended trading after the companies beat expectations. United Airlines (-6% stock price) reported that it returned to profitability during the second quarter, but results came in below expectations. Shares of Carnival were under pressure after the cruise company announced that it was selling an additional $1 billion of stock.

ECB Preview: There is a lot riding on today’s ECB meeting, where Lagarde is not just expected to finally lift rates, but also to unveil details of a new “Transmission Protection Mechanism”. There were source stories this week confirming what the minutes to the last meeting and comments since then have made pretty clear, namely that the hawks at the council will be pushing for a 50 bp move.

* USDIndex has dropped to 106.62.
* Equities – USA100 climbed 1.58%, while the USA500 and USA30 rose 0.59% and 0.15%, respectively. Nikkei and ASX managed gains of 0.37% and 0.5% respectively.
* Yields 10-year Treasury yield meanwhile is up 2.6 bp at 3.05%.
* Oil consolidating between $98-$100. US crude stocks dip, gasoline builds as demand slackens – EIA, Libya’s NOC say production resumes at several oilfields. Canada Keystone export pipeline at reduced rates for third day.
* Gold drifts at $1685.
* FX Markets – EURUSD got a boost from news of gas deliveries to 1.0230. USDJPY has lifted to 138.62. Cable at 1.1960. NZD is looking weak.



Biggest FX Mover @ (06:30 GMT) EURGBP (+0.56%) retests 3-day high at 0.8540. MAs aligned higher, MACD histogram & signal line at 0, RSI 61 and rising.

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.

Date : 22nd July 2022.

Market Update – July 22 – ECB Goes Large.


Trading Leveraged Products is risky

USDIndex continued to decline testing 106.25, ECB surprised with Hawkish 50bp rate hike lifting rates above 0 (first hike since 2011) and lifting Euro. US Stocks had another positive day (NASDAQ +1.36%) TSLA +9.78%, SNAP +5.42% but dropped -24% after hours on Earnings miss AT&T -7.42% & United Airlines -10.17%. Asian markets are mostly positive. (Hang Seng -0.01%, Nikkei +0.40%). European FUTS also mixed. Yields are down -4.78%. Oil bounced from $95.00 trades at $98.00, Gold up $1720, BTC holds over $22k. Gazprom turns the gas back on but Europe remains nervous as solidarity is tested, Biden tests Covid positive.

* USDIndex slides further to test 106.25 before bouncing to 107.25 support as EURO rally cools.
* Equities – USA500 closed +0.99%, 39.00pts (3998), US500FUTS at 3884 now.
* Yields 10-year yield lower into close at 2.91, trades at 2.915% now.
* Oil & Gold had volatile sessions last week – USOil trades up from $95 to test $98.00. Gold tests $1720 now from $1680.
* Bitcoin rallied to $23.8K yesterday and holds $22k now, on more chatter of major investments coming.
* FX Markets – EURUSD remains pressured but tested 1.0280 yesterday & back to 1.0142 now and USDJPY is down again to 137.58 now. Cable tested back to 1.2000 & back down ti 1.1913. Race to be new PM is reduced to two contenders this week. New PM Sept 5.

Overnight – UK Retail Sales and PMIs from Europe, Germany, UK and US.

Today: UK & US Flash PMIs, UK Retail Sales, ECB SPF & CBR Policy Announcement, Earnings from American Express, Verizon.



Biggest FX Mover @ (06:30 GMT) AUDUSD (+0.60%). AUD continues to recover from last week’s 0.6680 low and no surprises today from RBA Minutes. Next resistance 0.6850 & 0.6900. MAs aligned higher, MACD histogram & signal line higher, RSI 67 & rising, H1 ATR 0.00124, Daily ATR 0.00908.

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.

Date : 25th July 2022.

Market Update – July 25 – FED & Tech Giant Earnings Week.


Trading Leveraged Products is risky

USDIndex pushed under 106.00 on Friday (closed at 106.50) as the US Services sector contracted for first time in 2 years. US Stocks sank into close (NASDAQ -1.87%), big declines for tech companies, led by a -39% for SNAP. Asian markets also negative to start the week, (Hang Seng -1.18%, Nikkei -0.79%). European FUTS lower too. Yields tanked to closed down -4.74%. Oil under $94, Gold under $1725 and BTC under $22k. High Inflation, rising Interest Rates and weak Consumer and Business Confidence continue to weigh on sentiment. The CME “FedWatch Tool”¹ still has a 21.3% chance of a 100bp rate hike on Wednesday. Russia & Ukraine signed agreement to allow grain exports to start but then Russia shelled Odessa, UK PM race is getting increasingly bitter and Lavrov is on a tour of Africa.



Week Ahead – FED Rate Decision, US GDP and Earnings Season sees the technology giants (APPL, AMZN, MSFT, GOOGL & META) plus many more companies all reporting Q2 data.

* USDIndex up from lows at 105.96 on Friday (US Services PMIs big miss and into contraction at 47.00 vs 52.7) now trades at 106.60.
* Equities – USA500 closed -0.93% -37pts (3961), (week +2.4%). US500FUTS at 3958 now. SNAP +39.04%, TWTR +0.8%, (Earnings not as bad as expected), AMEX +1.9% (Earnings beat & increased Revenue forecast) Verizon -6.8% (Profits cut) META -7.6%, GOOGL -5.6%.
* 106 companies have reported; 75.5% have beat estimates (average for last 4 quarters 80% beat.) Strong Dollar hindering.
* Yields 10-year yield significantly lower at 2.783%, trades lower again at 2.75% now.
* Oil & Gold had volatile & weak sessions last week – USOil traded from over $102 support down to $94.15 lows, and is lower again today at $93.00. OPEC next meet Aug 3. Gold fell to $1680 lows last week but recovered $1700 and trades back to $1725 now.
* Bitcoin rallied to $24K, last week, breaking away from the $20k level but is back to $21.8K today
* FX Markets – EURUSD remains pressured but rotates at 1.0200, USDJPY down to test 135.50 last week – now 136.30. Cable breached the key 1.2000 last week, trades at 1.1990 now.

Overnight – UK Retail Sales and PMIs from Europe, Germany, UK and US.

Today: German Ifo Survey, UK CBI Trends, US National Activity Index, Earnings from Ryanair, Philips, Vodafone, Infosys, Newmont and NXP Semiconductor.



Biggest FX Mover @ (06:30 GMT) AUDUSD (+0.60%). AUD continues to recover from last week’s 0.6680 low and no surprises today from RBA Minutes. Next resistance 0.6850 & 0.6900. MAs aligned higher, MACD histogram & signal line higher, RSI 67 & rising, H1 ATR 0.00124, Daily ATR 0.00908.

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.