HFMarkets (hfm.com): Market analysis services.

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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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 : 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.

Date : 27th July 2022.

Market Update – July 27 – Big Tech lifts the mood on Fed Day.


Trading Leveraged Products is risky

USDIndex ticked up to 107.00, as EUR slipped over 1% before recovering following the Russian announcement of further cuts to European gas supplies. FX markets subdued ahead of FED later today. US Stocks declined (NASDAQ -1.87%), Walmart -7.6% (profits warning) [censored] -21% AMZN -5.23% Shopify -14%. However, after hours GOOGL & MSFT were up 5% & 4% after Earnings. Unilever, Coke & McDonald’s all warned of higher prices. Asian markets mixed  (Hang Seng -1.2%, Nikkei +0.23%). European FUTS higher. Yields up again +0.56%, but 2/10yr curve remains inverted. Oil holds $95, Gold slipped to lower and BTC holds under $22k.

* USDIndex up, to resistance at 107.00 – holds at 106.80.
* Equities – USA500 closed -45.79 pts (-1.15%) (3921), US500FUTS at 3957 now. 4th 8%+ rally of the year, previous 3 have resulted in lower lows..is the bottom in or is it a dead cat bounce?
* Yields 10-year yield recovered to close at 2.787%, trades higher again at 2.8068% now.
* Oil – in–focus rallied to $98 on news from Russia, since declined to $95.
* Gold had another weak session – $1727 to $1714, now up to $1718.
* Bitcoin sank again to trade at $21.1K now.
* FX Markets – EURUSD remains pressured came within 7 pips of 1.0100 and trades at 1.0225, USDJPY tests to 137.00 now. Cable holds over the key 1.2000, capped at 1.2080.

Overnight – AUD CPI in-line (21-yr high) at 1.8% & German GfK missed -30.6 vs -27.7.

Today: US Durable Goods, FOMC announcement and Chair Powell’s press conference Earnings from Airbus, BASF, Deutsche Bank, Equinor, BATS, GSK, Lloyds, Rio Tinto, Credit Suisse, Meta, T-Mobile, Boeing.



Biggest FX Mover @ (06:30 GMT) AUDCAD (-0.30%). Rejected 0.8950 again earlier and tested to 0.8900 a key support. MAs aligned lower, MACD histogram negative & falling, RSI 38 & falling,  H1 ATR 0.00127, Daily ATR 0.00697.

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 : 29th July 2022.

Market Update – July 29 – Stocks up, USD lower on final trading day of the month.


Trading Leveraged Products is risky

USDIndex sinks again tanked to 105.75, from 106.80.  The US is in a technical recession (2 consecutive quarters of contraction) after Q2 GDP -0.9% & (Q1 -1.6%), and GDP Inflation rose to 8.7% from 8.0%) but Unemployment remains very low and job creation (Claims fell to 256K from 261k) and wage growth are strong.  US Stocks rallied another 1%+ on expectations of slower rate hikes. AMZN +1.08% & APPL+0.36%, both beat Earnings after hours, shares were up 3% & 12%, respectively. Meta -5.2% & QCOM -4.54%.  Asian markets mixed (Hang Seng -2.02%, Nikkei -0.03%). European FUTS higher. Yields continue to see-saw, today -1.94%, Oil under $97, Gold breached $1760  and BTC moved up to $24k.

Biden & Xi meeting skirted Taiwan talk, Ukrainian forces plan counterattacks in the South, Russia shells Kiev.

* USDIndex weakens further to 105.45 now. YEN outperforms again in Asian session.
* Equities – USA500 closed higher +48.8 pts (+1.21%) (4072), US500FUTS at 4105 now. Bears being squeezed, 10 days north of 20-day MA. 4175 next key resistance
* Yields 10-year yield dived into close 2.681%, down again to 2.67% now.
* Oil – peaked at $99.80 yesterday down to test $96.00 before recovering to $97.00 now.
* Gold – breached & broke key 20-day MA ($1745) and $1750. Trades at $1765 now.
* Bitcoin also rallied on weaker USD to trade at $24.1K now.
* FX Markets – EURUSD rallied to test 1.0250 on EZ news, USDJPY dived 1% under 133.00 to 132.75. Cable broke 1.2200 and trades at 1.2225.

Overnight – JPY Tokyo Inflation hotter, Retail Sales, Housing Starts & Consumer Confidence weaker, AUD PPI inline, French GDP better, German Import Prices in line.

Today: German Flash GDP & Unemployment, EZ Flash CPI and Flash Q2 GDP, US Jun PCE, US Chicago PMI, Canadian GDP.



Biggest FX Mover @ (06:30 GMT) USDJPY (-1.13%). Breached key technical level at 133.00 today and tests 132.50. MAs aligned lower, MACD histogram negative & falling, RSI 19.77, OS & falling,  H1 ATR 0.365, Daily ATR 1.230.

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 : 2nd August 2022.

Market Update – August 2 – Pelosi Taiwan Visit Saps Sentiment.


Trading Leveraged Products is risky

USDIndex sinks again to 105.00, dragged lower by falling Yields (10yr -2.88% to 2.54%). US Stocks lower following record July. HSBC +6.5% Boeing +5.96% Pearson +12.66% BBBY +14.77%. Asian markets pressured lower by Pelosi’s proposed visit to Taiwan and China promising “countermeasures” including “military actions”. (Hang Seng -2.68%, Nikkei -1.44%). European FUTS also lower. (-0.6%).  Oil tanks under $93, Gold spiked to  $1780  and BTC down under $23k.

RBA raised rates 50bp, as expected, (3rd consecutive month & fastest rate hike cycle since 1994) – BUT cooled forward guidance – will raise rates in months ahead, but “not on a pre-set path” #AUDUSD falls from 0.7030, to 0.6950, #AUDJPY -1.66%.

Biden announces US have killed head of Al-Qaeda, Zawahiri in Kabul drone strike.

* USDIndex weakens further to test under 105.00 now. YEN & CHF outperform again in Asian session.
* Equities – USA500 closed lower -11.66pts (-0.28%) (4118), US500FUTS at 4100 now.  4175 remains next key resistance
* Yields 10-year yield dived into close 2.60%, down again to 2.54% now.
* Oil – tanked to $93.00 from $101.80 highs on Friday.
* Gold – spiked to $1780 before cooling to $1773 now. Support at $1770 & $1766.
* Bitcoin also weaker trades at $22.8K now, from as high as $24.4K.
* FX Markets – EURUSD rallied to test 1.0300 zone, USDJPY dived under 131.00 to 130.40 lows. Cable holds over 1.2200 and tests key 1.2260 resistance area.

Today – AUD Building Approvals better than expected (-0.7% vs. -5.3%), Commodity prices lower (14.1% vs. 24.3%) UK House inflation a tick lower at 0.1% m/m.

Today – Canadian Manufacturing PMI, New Zealand Unemployment, US JOLTS Report, Speeches from Fed’s Bullard, Evans & Mester. Earnings BP (out – EPS exceed by +26%, profits a monster £6.95bn), CAT, UBER, AirBnB, AMD, PayPal, Starbucks, Gilead, Marriott.



Biggest FX Mover @ (06:30 GMT) AUDJPY (-1.66%). Dovish RBA and Taiwan tensions hit the key most risk sensitive pair. Collapses from 92.500 to 90.75 lows. MAs aligned lower, MACD histogram negative & falling, RSI 22.5, OS & falling,  H1 ATR 0.294, Daily ATR 1.198.

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 August 2022.

Market Update – August 4 – BOE Day!


Trading Leveraged Products is risky

USDIndex firmed to 106.82 on Fed outlook and solid data before sliding to 106.38 at the close. Yields spiked on top of the heavy losses Tuesday (10yr 2.51%), then slipped again on strong factory orders data, with an eye on Friday’s NFP which will partly determine the magnitude of Fed tightening (10yr 2.7191%). US Stocks supported by good earnings news, and gains accelerated after solid data, shrugging off the jump in bond yields as the Fed funds futures market repriced for a 50-50 potential for a 75 bp September rate hike. European FUTS also higher. Oil dipped to $90.35 after OPEC+ disappointed and agreed to a “very small increase” in September output of 100k barrels per day – the smallest output increase in its history.  Gold holds at $1770. Today – BOE expected to hike by 50 bp but stresses data dependency of further tightening moves.

Overnight: US ISM-NMI services index rise to 56.7 from a 2-year low, US factory orders beat estimates climbed 2.0%. The rise joins big declines for the ISM, Chicago PMI, Dallas Fed and Philly Fed, but gains for the Richmond Fed and Empire State, to leave an 8-month producer sentiment pull-back from robust November peaks. Surging interest rates and a flattening in real household spending as prices rise are aggravating the downtrend, though sentiment also faces support as businesses continue to restock.

* USDIndex is holding above 106 at currently 106.30.
* Equities – USA30 rose 1.29% (32.74K), USA500 rallied to 1.59% (4.15K) and USA100 surged 2.59%.
* Yields 10-year lifted 2.5 bp to 2.73% and rates are also higher in Japan and Australia. The 10-year Bund yield is down -0.5 bp at 0.863% though after another contraction in German manufacturing orders flagged recession risks for the region.
* Oil – dips to at $90.35. OPEC+ dissapointed and agreed to a “very small increase” in September output of 100k barrels per day – the smallest ouput increase in its history.
* Gold – supprted by pullback in yields at $1770.
* FX Markets – EURUSD dip to looks weak at 1.0163 and Cable is at 1.2147. USDJPY has lifted to 134.20 as recent haven flows into the yen recede. AUD and NZD regained some ground as global risk sentiment improved a little and a record Australian trade surplus underlined the natural inflows supporting the currency.

Today – The BoE expected to hike by 50 bp but with a stress on the data dependency of further tightening moves. Front loading the tightening cycle also may also make sense in light of the leadership contest, with Liz Truss, the favorite to succeed Johnson mulling a shake up of the BoE. Investors are also waiting for details on the BoE’s plans for gilt sales. Governor Bailey previously indicated that the balance sheet will shrink at a pace of GBP 50-100 bln in the first year – including redemptions.



Biggest FX Mover @ (06:30 GMT) NZDJPY (+0.99%) reverted week’s losses and currently at 84.47. MAs aligned higher, MACD lines rising, RSI 76. H1 ATR 0.202, Daily ATR 0.993.

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 : 9th August 2022.

Market Update – August 9 – USD & Stocks Dip.


Trading Leveraged Products is risky

USDIndex slipped to test 106.00, before recovering to 106.20. US Stocks opened positively but closed flat for the day. NVDA –6.3%, Novavax -5.01%, AMC +8.03%, GM +4.16%. Asian markets mixed (Hang Seng flat,  Nikkei -0.88%). European FUTS also mixed. Yields fell into close (10yr 2.7657%),  Oil bounces close to 2% to recoup the $90 handle, Gold rallied over 1% from $1770 support and BTC moved up to test key $24K area.

China continues exercises around Taiwan for 6th day, Russia installs more troops around captured key Ukrainian nuclear power plant, as US promises Ukraine another $1 billion in military aid.

Week Ahead: Highlight of the week is US CPI tomorrow which is expected to decline to 0.2% m/m and  8.7% y/y.

* USDIndex tested down to 106.00 after blockbuster NFP on Friday and holds 106.20 now. AUD & NZD underperformed in Asian session.
* Equities – USA500 closed flat -5.13pts (-0.12%) (4140), tested & rejected 4175 resistance intraday. US500FUTS at 4144 now. 100 MA at 4100.
* Yields 10-year yield fell into close as Treasuries eased with USD. The 2/10yr. yield curve moved as much as 44bp inverted yesterday. 10yr closed 2.765%, trades at   2.76% now.
* Oil – rallied from 6-month lows under $87.00 again to test last weeks support at $90.70,  holds at $90.00.
* Gold – rallied from $1770, support to $1788 highs now. 20-day MA $1757.
* Bitcoin surged to $24.2K Monday, before trading at  $23.7k now.
* FX Markets – EURUSD back over 1.02000, USDJPY rejected 135.50 Monday back to 135.00 now. Cable tested up to 1.2130 back to 1.2080 support now.

Overnight - Highlight of the week is US CPI tomorrow which is expected to decline to 0.2% m/m and  8.7% y/y.

Today – EIA STEO, Supply from UK, Germany & US.



Biggest FX Mover @ (06:30 GMT) EURAUD (+0.36%). Bounced from 1.4580 support on Monday after declining from 1.4775 highs on Friday. MAs aligning higher,  MACD histogram negative but signal line rising, RSI 53.62 & rising, H1 ATR 0.00161, Daily ATR 0.0134.

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 August 2022.

Market Update – August 11 – USD & Yields tank, Stocks rally as US CPI cools.


Trading Leveraged Products is risky

USDIndex tanked to 104.50 from 106.20, before recovering, Yields & the VIX dropped to 4 mth lows and Stocks rallied (NASDAQ +2.89%, now +20% from June lows). Cooler US CPI was the catalyst and expectations the FED is less likely to have to raise rates by 75 bp in September. Asian markets followed through too, (Hang Seng +2.08%,  Nikkei closed). European FUTS also higher. Oil pushed up to the $92 handle, Gold sank to $1786 and BTC moved higher again to breach $24K area.

Fedspeak – voiced caution – Kashkari now a BIG HAWK talked of being “far, far away from declaring victory over inflation” and wants at least another 140 bp this year and sees rates topping at 4.4% in 2023, Evans (centrist  sees rates at 3.4% by December and Daly “not anywhere near done with inflation battle”. Cleveland Fed – “inflationary pressures remain broad based”.

* USDIndex plunged -1.6% as broad based USD selling took hold. More hawkish Fed comments helped lift the index to 105.20 now. AUD underperformed in Asian session.
* Equities – USA500 closed up 87.77pts (+2.13%) (4210), US500FUTS at 4227 now. DIS Big beat, Disney+ bigger than NETFLIX! & will raise prices from December – Shares up 3.98% on Wednesday & 6.85% after hours. Big tech all closed up 2%+.
* Yields 10-year yield sank but recovered to 2.78% at close. The 2/10yr. yield curve also remained firmly inverted at 43.8 bp. 
* Oil – rallied to test 200-hr MA at $92.00, holds the zone now. 
* Gold – rallied & spiked to $1800 resistance again before declining back under to support at $1788, 20-day MA now $1766.
* Bitcoin has surged to $24.5K now from $22.6k lows yesterday.
* FX Markets – EURUSD breached 1.0350 trades at 1.0300, USDJPY tanked from 135.00 pivot to 132.00 back to 132.70 now and Cable did the same rallying from 1.2080, pivot to 1.2260 resistance & back to 1.2215 now.

Today – US Weekly Claims & PPI, IEA OMR, OPEC MOMR, Banxico Policy Announcement.



Biggest FX Mover @ (06:30 GMT) NZDCHF (+0.51%). Recovery from spike lower yesterday continues, back to 0.6040 now from 0.5945.  MAs aligning higher,  MACD histogram now positive & signal line neutral, RSI 61.57 & rising, H1 ATR 0.00080, Daily ATR 0.00558.

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 August 2022.

Market Update – August 24 – USD Holds at Highs, Stocks Slip, Oil Rallies.


Trading Leveraged Products is risky

* USDIndex – volatile day – new 20-yr highs at 109.20 declined to 108.00 after weak PMI & Housing Data before Kashkari “biggest fear is inflation will be more persistent”.
* EUR – Weighed by weak PMI & energy crisis and 3 day shutdown of Nord Stream 1, 3rd day under Parity (1.000) at 0.9940.
* JPY holds between 137.00 & 136.00
* GBP also weighed by weak PMI data, energy crisis, weak government & widening strike action.Trades at 1.1800
* Stocks US stocks flat into close. (S&P500 -9.26pts (-0.22%) 4128) – Biggest movers – Oil stocks +4-6%, TWTR -7.32%.
* Oil continued to rally, moved +4% Tuesday to $94.00 following Saudi “CUTTING production” comments.
* Gold – support at $1736 trades at $1745
* BTC – ranging between 21k & 21.5K.



Overnight – Asian equity markets fell for an eighth straight day. European FUTS also lower.

Today – US Durable Goods.





Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.45%). Rejected 94.80 again yesterday and trades under 94.40 now. MAs aligning lower,  MACD histogram negative & signal line falling, RSI 40.36 & falling, H1 ATR 0.153, Daily ATR 0.96.

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 : 26th August 2022.

Market Update – August 26.


Trading Leveraged Products is risky

* USDIndex – back in demand ahead of Powell at Jackson Hole and as markets speculated on 100 bps in ECB hikes by October, though it recovered some to finish at 108.64.
* EUR – Remains under parity. German GfK consumer confidence plunged to -36.5, which could keep Euro underpinned.
* JPY has lifted to 137.00, GBP steady below 1.1800.
* AUD fell 0.4% below the psychological level of $0.7 & NZD fell 0.5%, giving up some of the strong gains in the previous day. The AUD has been performing better against the battered European currencies.
* Stocks: US stocks are in the red with concern over aggressive tightening and a rise in yields capping gains (USA100 rallied 0.41%, with the USA500 up 0.29%, and the USA30 0.18% higher). Nikkei and ASX are up 0.8% and 0.5% after a strong close on Wall Street. GER40 and UK100 futures have lifted 0.4% and 0.3% respectively.
* Oil slumped by about $2 a barrel on the possible return of sanctioned Iranian oil exports and on worries about the impact on fuel demand from rising USinterest rates. Down to $92.08.
* Gold – bounced from support at $1751.80  to $1758.70.



Today – US PCE, Michigan Consumer Sentiment, Jackson Hole Symposium and Fed Chair Powell Speech.



Biggest FX Mover @ (06:30 GMT) NZDUSD (–0.45%). Dropped to 0.6195 from 0.6250. MAs aligning lower, MACD histogram negative & signal line falling, RSI 36.74 & dropping, H1 ATR 0.00089.

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 : 30th August 2022.

Daily Market update: 30 August 2022.


Trading Leveraged Products is risky

Dollar pulls back off fresh 20-year highs as market prices in a more hawkish ECB.   

Dollar Index

Monday’s London session proved to be a battleground won by the Dollar as it added to Friday’s gains, hitting levels last traded in September 2002. A Key driver in this exuberance is the ever-increasing probability of a 75-basis point rate hike as opposed to a 50-basis point rate hike at the next FED meeting in September. This in turn has caused yields to rise, with the 2-year yield hitting fresh 5-year highs near 3.5% and ultimately gave the dollar its appeal to continue its upward trajectory.



Technical Analysis: H4

In terms of market structure, last week saw the completion of the larger bullish continuation pattern in the form of the falling wedge type structure that found support from the 104.00 level and produced an impulsive wave that went on to revisit the 109.00 area last week Friday before setting a new high just under 109.50.

Intra-day Overview: Current price action in Monday’s trading session broke through the previous high and created fresh 20-year highs before retreating into the range finding support within the 108.00 range. Henceforth buyers could push the index to continue its bull run, or on the flipside, sellers could be well positioned at the fresh 20-year highs set in Monday morning’s London session and could challenge buy pressure.

Stocks
At the time of writing, US Stocks have continued to sell off since Friday’s hawkish comments signalled a longer period of sustained higher interest rates.

*Dow Jones: Reacted by adding to the losses from last week by 0.07%.
*S&P 500: Pressure continued and added to losses from last week by 0.11%.
*Nasdaq: Was down on Monday by 0.49%.

Currencies

*Euro: Intraday overview: Price was buoyed by a pullback in the Dollar on Monday morning, which gave the Euro some impetus to claw back some of the losses made on Friday, retesting the upper end of the range at the 1.00291 area in the current bearish continuation structure.
*Pound: Intraday overview: The 1.16481 area was the floor that supported a pullback on Monday morning, as the Pound clawed back some of the losses from Friday. The Intraday high was set around the 1.17432 area.

Commodities

*Gold: Intraday overview: The $1 720 area was the floor that supported a pullback on Monday morning, helping Gold claw back some of the losses seen on Friday. The intraday high was set around $1 745.

*Oil: On the back of the Saudis’ comments around their inclination towards slowing down production, the price of Brent hit $100 and shows the possibility of geopolitical factors supporting the bullish momentum for now, while the current economic outlook, and central banks’ monetary policies, are supporting a bearish sentiment.

Bitcoin

In the wake of Bitcoin falling below the psychological $20 000 level, there could be more support around the corner as crypto adoption seems to be getting “a shot in the arm” with the Monetary Authority of Singapore considering implementing certain regulations around leverage when it comes to cryptocurrencies. This initiative is aimed to protect inexperienced consumers as opposed to banning the crypto market altogether.



Biggest FX Mover @ (06:30 GMT) NASDAQ (-3.9%). Dropped to 12387$ from 13206$.

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.

Ofentse Waisi
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 September 2022.

Market Update – September 1 – New Month Same Story – Dollar Bid.


Trading Leveraged Products is risky

*USDIndex – holds at 109.00 highs from a test of 108.50 support. Yields rallied again, Dollar on the frontfoot ahead of NFP & Labor Day Holiday, ADP (following revisions to calculation) big miss 132k vs 300k).  Chengdu (120 million) in new lockdown.
*EUR – Record Inflation (9.1%) pressures ECB action (40% chance of 75bp rise next week) – EUR holds at 1.0018.
*JPY rallies again (new 24 yr highs) eyes key 140.00 & trades; 139.50 BOJ holding accommodative policy line. 
*GBP new pandemic era lows under 1.1600 now, to 1.1568 lows. 
*Stocks US stocks weak again (S&P500 -31.00pts (-0.78%) 3955).  Energy & Tech stocks led the decline again as weak news from Nvidia, Tencent & AMD weighed. Futs. -1% at 3930 now.
*Oil down again on weake outlook, under $90.00 and trades at $88.90 now.
*Gold – also down and within $1.50 of $1700 earlier, trades at $1707 now.
*BTC – under 20k again today.



Overnight – CNY Manufacturing PMI data missed (49.5) and returns to contraction. German Retail Sales better than expected (1.9% vs. 0.0%).



Today – EZ, UK & US Manufacturing PMIs, German Retail Sales, Swiss CPI, EZ Unemployment, US ISM Manufacturing, Construction Spending, Speech from Fed’s Bostic.



Biggest FX Mover (06:30 GMT) EURCHF (-0.48%). Rejected 0.9830 today following 5-day rally from 0.9559, trades at 0.9786. MAs aligning higher,  MACD histogram positive but signal line falling, RSI 43.00,  H1 ATR 0.00132, Daily ATR 0.000723.

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 September 2022.

Market Update – September 5.


Trading Leveraged Products is risky

*USDIndex – holds at 110.25 highs. Yields plunged after NFP and as the curve bull steepened. Asian markets struggled after Wall Street closed in negative territory following news that Russia won’t be re-opening gas deliveries to Europe via Nord Stream 1 as scheduled.
*EUR – 20-year lows – tumbled back below parity, today’s low at 0.9876 as the standoff with Russia continues.
*JPY holds at 140 area.
*GBP fell to 1.1442, the weakest since March 1985.
*Stocks – US closed for Labour Day today. GER40 & UK100 are down -3% and -1% respectively this morning, with recession concerns deepening. ASX and Nikkei closed narrowly mixed. Major stock markets are posting 1-month declines from nearly -2% (TSX) to over -8% (NASDAQ).
*Oil got a boost from the jump in gas prices as traders look ahead to the OPEC+ meeting. USOIL is at $88.45 from $85.70.
*Gold – also down and within $1.50 of $1700 earlier, trades at $1707 now.
*BTC – 19.4K-20.5K.

Weekend – Gazprom announced on Friday that the main pipeline to Germany would remain closed indefinitely, against expectations of a restart on Saturday after three days of maintenance work.

Today - Today – All eyes will be on the monetary policy decisions from the ECB, BoC, RBA.Final readings for Eurozone and UK Services and Composite PMs are due today. In the UK the Conservative Party is set to announce that Liz Truss won the leadership contest and will succeed Boris Johnson as the next Prime Minister for the UK.



Biggest FX Mover @ (06:30 GMT) EURUSD(-0.48%) found a near term support at 0.9877. MAs aligning lower, MACD lines extend southwards, RSI 38,  H1 ATR 0.00199, Daily ATR 0.00996.

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 : 7th September 2022.

Market Update – September 7 – King Dollar; Yen crushed.


Trading Leveraged Products is risky

*USDIndex – remains above 110 and the ongoing strength of the dollar, fueled by aggressive Fed hikes and the firm push back against inflation continues to weigh on stock markets, as traders assess recession risks amid Europe the escalating energy crisis in Europe.
*Bonds sold off hard with yields surging double digits and Wall Street stumbled amid renewed concerns over inflation, the FOMC’s hawkish response, and the concomitant threat to growth – amid a deluge of corporate debt offerings and as ISM services index increase to 56.9 further presser yields higher.
*20 companies slated bond offerings totaling an estimated $30 billion to $40 billion.
*EUR – break 0.9900 area than expected German orders numbers at the start of the session, only added to signs that Europe is heading for a recession but EUR trades at 0.9957 now. –  German industrial production contracted – less than feared and at the same time the June number was revised up.
*JPY crushed! USDJPY at 144.35.
*GBP – 1.1490. Eyes to parliamentary testimony from the Bank of England governor.
*Stocks – Asian stocks fell to 2-year low on the back of disappointing Chinese trade number (China’s exports slowed in August). US100 fell -0.74% and the US30 and US500 slid -0.55% and -0.41%, respectively.
*Oil at $85.60
*Gold – extends for a 2nd day below $1700

Corporate bond update: there has been a flood of issuance to kick off September. It looks like corporations are jumping in while the going still looks relatively good and before rates go up further. Nestle plans a hefty 5-part sale with 3-, 5-, 7-, 10-, and 30-year coupons. Walmart announced a $5 bln 4-part deal to include a $1.75 bln 3-year, a $1 bln 5-year, a $1.25 bln 10-year and a $1 bln 30-year. Lowe’s plans a $4.75 bln 4-tranche deal with 3-, 10-, 30-, and 40-year tranches. MUFG has a $4.4 bln 4-parter including 3NC2 fixed and FRN, a 6NC5, and an 11NC10. John Deere Capital is selling $2.25 bln in 3-, 5-, and 10-year notes. There is a $2.3 bln 4-parter from Dollar General with 2-, 4-, 10-, and 30-year tranches. McDonald’s announced a $1.5 bln 10- and 30-year. Target has a $1 bln 10-year. ORIX has a $1 bln 2-oarter. And this is not even the full list. The explosion of offerings has added to the selling pressures on Treasuries. Rates are up double digits with the 10-year 15 bps cheaper at 3.34%.

Today - Attention will be on the BOC’s rate decision and BOE Monetary Policy Report Hearings along with BOE Governor Bailey testimony. Of importance will be remarks from VC Brainard, Michael Barr who will discuss financial systems. Barkin and Mester speak at an MIT event and the US trade deficit will also be important for what it says about global activity.



Biggest FX Mover @ (06:30 GMT) CHFJPY (+0.97%) at record highs, 146.48. MAs aligning higher, MACD histogram positive & signal line rising, RSI 83, H1 ATR 0.284, Daily ATR 1.116.

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 : 9th September 2022.

Market Update – September 9 – USD Sinks, Yen & BTC Rally.


Trading Leveraged Products is risky

*USDIndex – Slumps as YEN & EUR spike. A brief rally back to 110.00, faded following ECB’s hawkish 75bp hike and similarly Hawkish comments from both Lagarde and Powell. Trades at 108.90. Comments from Japanese officials lift the YEN and weak Chinese inflation data exposes demand weakness.
*EUR – ECB moved by 75bp and suggested more significant hikes to come. EUR rallied back to through Parity and trades at 1.0065 now.
*JPY having rejected 145.00, combined comments from Suzuki, Matsuno & Kuroda lifts the YEN and the pair trades at 142.90. 
*GBP 1.1500 support held yesterday and a follow through move today takes Cable to 1.1600 resistance.
*Stocks US stocks moved higher again as Dollar & Yields cooled (S&P500 4006) FUTS trade at 4011. Asian stock markets have rallied, and European FUTS are little changed, the FTSE100 up 0.3%.



*USOil recovered from $81.40 lows to $83.50 now on chatter of more supply issues. 20-day moving average sits at $90.00.
*Gold – also rallied to $1725 and holds the key $1700 at $1721 now.
*BTC – rallied higher as the ETH merge (offering a 99.9% reduction in power consumption!!). Spiked from $18.5k on Wednesday to $20.6k now.

Overnight & Today – Canadian jobs report, EU energy meeting, Speeches from ECB’s Lagarde, Fed’s Evans, Waller & George.



Biggest FX Mover @ (06:30 GMT) AUDUSD (+1.31%). Continues to rally from a test of  0.6700 on Wednesday, trades at 0.6850 now. MAs aligning higher, MACD histogram negative & signal line positive & rising, RSI 79.22 & OB,  H1 ATR 0.00142, 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.