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  • Representatives
Date : 1st March 2023.

Market Update ‚Äď March 1 ‚Äď USD Holds at highs, PMI‚Äôs in Focus.


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Trading Leveraged Products is risky

The USD held at recent highs to close the month, stocks were lower, weighed by weak US data and inflation in Europe surprisingly spiked in France and Spain. Overnight: Chinese PMI data showed manufacturing growing the fastest in 10-years and Services surging (56.3). Australian CPI sank significantly to 7.4% but GDP missed (0.5% vs 0.8%) pulling down the AUD. Upbeat Chinese data has lifted European Futures. Gold and Oil both had strong closes to a weak month.
 
  • FX¬†‚ÄstUSD Index¬†tested back to¬†105.00¬†before declining to 104.65 now.¬†EUR¬†holds over¬†1.0600,¬†from 1.0570 & capped by 1.0620 today.¬†JPY¬†topped at 136.70 yesterday tested below¬†136.00¬†& trades at 136.606 now.¬†Sterling¬†enthusiasm stalled at 1.2145 before declining to test the key¬†1.2000¬†zone again. Back to 1.2070 now.
  • Stocks ‚ÄstThe US markets slipped again (-0.10% to -0.71%). Movers ‚Äst#NVAX¬†+6.8% &¬†META¬†+3.19%.¬†GS¬†-3.19% after problems in their consumer unit.¬†#TSLA¬†day today.¬†US500¬†‚Äď0.30% (-12.90)¬†3970,¬†US500¬†FUTS¬†3983¬†now.
2023-03-01_09-02-27.jpg
 
  • Commodities ‚Äď USOil ‚ÄstFutures tested to $77.60 yesterday, dipped a $1.10 and are back to $77.60 now.¬†Gold ‚Ästtested below the support level at $1805 yesterday before a significant last day of the month rally to $1830. Trades at $1835 now.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď Back to test $23k¬†support yesterday and holds $23.7k now.
Today ‚ÄstEZ/UK/US¬†Final PMIs, German¬†CPI¬†(Prelim.),¬†US ISM Manufacturing PMI, New Zealand Export/Import Prices, Speeches from BoE‚Äôs¬†Bailey¬†& Fed‚Äôs Kashkari.

2023-03-01_09-03-45.jpg



Biggest FX Mover @ (07:30 GMT) NZDJPY (+0.80%). Rallied from 83.75 yesterday to 84.85 now, with next resistance at 85.00. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 72.30 & in the OB zone, H1 ATR 0.158, Daily ATR 0.00637.

2023-03-01_09-06-30.jpg

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 2nd March 2023.

Market Update ‚Äď March 2 ‚Äď ISM Price Hikes & Higher Yields dent sentiment.


eu_update_1200x628-e1567669197104-696x339.png
Trading Leveraged Products is risky

The USD continues to hold onto recent gains despite US10yr Yields hitting to a four-month top of 4.018% and ISM Manu. prices spiking to 51.3, a five-month high, from 44.5 in January. US Stocks closed lower and this has rippled into Asian markets. TSLA day disappointed with no new vehicle announcements, #TSLA shares fell -5.6% after hours. Kashkari was as Hawkish as ever & Fed Fund Futures now have a 50 bp hike at 33% & a terminal rate in the 5.50%-5.75% range. Overnight: Japanese Capital Spending fell less than anticipated and Consumer Confidence failed to meet expectations but remains at 5-month highs too. Australian building approvals collapsed -27.6% from +15.3%.
 
  • FX¬†‚ÄstUSD Index¬†tested back to¬†104.00¬†before recovering to 104.70 now.¬†EUR¬†holds over¬†1.0600,¬†but rejected an advance to 1.0700, holds at 1.0635 today.¬†JPY¬†is back to Tuesday‚Äôs top at¬†136.80¬†from a test below 135.50.¬†Sterling¬†enthusiasm continued to evaporate breaching and breaking the key¬†1.2000¬†zone again today, trading at 1.1970 now.
  • Stocks ‚ÄstThe US markets slipped again (+0.02% to -0.66%). Movers ‚Äst#NVAX¬†-25.92%,¬†CAT¬†+3.81% &¬†HAL¬†-3.53%.¬†US500¬†‚Äď0.47% (-18.76)¬†3951, US500¬†FUTS lower again at¬†3928¬†now.
2023-03-02_08-56-21.jpg
 
  • Commodities ‚Äď USOil ‚ÄstFutures tested to $77.70 yesterday and again today before dipping to $77.35 now.¬†Gold ‚Ästrallied again yesterday to $1844 but trades at $1830 support now.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď Tested to $24k¬†resistance yesterday and holds $23.3k now.
Today ‚Äď EZ CPI¬†(Flash) & Unemployment Rate,¬†US Weekly Claims,¬†Japanese CPI, BoE DMP & ECB Minutes, Speeches from Fed‚Äôs Waller & Kashkari, ECB‚Äôs Schnabel, BoE‚Äôs Pill.

2023-03-02_09-50-39.jpg 2023-03-02_09-51-03.jpg

Biggest FX Mover @ (07:30 GMT) USDJPY (+0.50%). Rallied from 135.50 yesterday to 136.80 now, as US Yields rally and JPY weakens, next resistance at 137.00. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 69.30 & rising, H1 ATR 0.168, Daily ATR 1.210.

2023-03-02_09-49-27.jpg

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 3rd March 2023.

Market Update ‚Äď USD & Yields Dip from Highs & Stocks Recover.


daily-market-update-696x364.png
The¬†USD¬†slipped from recent highs but holds at 104.75.¬†Yields¬†cooled, but the 2/10 yr¬†yield curve¬†remains inverted by 83 bp as the 2-year yield eyed 5% yesterday. US¬†Stocks¬†closed positive¬†(DOW¬†+1.05%) which has helped lift Asian markets (Nikkei +1.56%) along with a positive spin on the¬†new Chinese economic targets¬†that are due to be announced on Sunday. Sentiment also got a lift from ‚ÄúDovish‚ÄĚ Fedspeak from¬†Bostic¬†who prefers¬†‚Äúslow & steady‚Ä̬†25 bp rate hikes to limit recession risks. Overnight: NAB CEO says 3 more¬†RBA¬†rate hikes are possible and¬†Kashkari¬†&¬†Waller¬†continued to press the Hawkish stance. Japanese¬†Unemployment¬†declined to 2.4% and Tokyo area CPI slipped to 3.3% from 3.4%. Chinese Services PMI beat significantly at 55.00 from 52.9 last time.
 
  • FX¬†‚ÄstUSDIndex¬†rallied to over¬†105.00¬†to 105.13, but has cooled to 104.70 now.¬†EUR¬†holds over¬†1.0600,¬†but declined yesterday to 1.0575 following a hot EZ CPI reading and US Claims.¬†JPY¬†breached¬†137.00¬†but has declined to 136.40 now and flat for the week so far.¬†Sterling¬†was a weak performer yesterday declining into Monday‚Äôs low at 1.1925 and remains below the key¬†1.2000¬†trading at 1.1980 now.
  • Stocks ‚ÄstThe US markets rallied yesterday (+0.73% to +1.05%). Movers ‚Äst#SI¬†-57.72%,¬†TSLA¬†‚Äď5.85% &¬†CRM¬†+11.50%.¬†US500¬†+0.76% (+29.96)¬†3981,¬†US500¬†FUTS lower at¬†3975¬†now.
2023-03-03_09-16-50.jpg
 
  • Commodities ‚Äď USOil ‚ÄstFutures tested to $78.50 yesterday and holds at¬†$78.00¬†now, and up over 3.00 for the week.¬†Gold ‚Ästrallied again yesterday from $1830 support and trades at $1843 now.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď tanked overnight by as much as -6% as¬†Coinbase¬†(-1.5%) declined payments to or from¬†Silvergate Capital¬†(-57.72%). Tested under $22k¬†today to $21.85k before recovering to $22.3k now.
Today ‚Äď EZ/UK/US Composite & Services PMIs,¬†US ISM Services, Speeches from Fed‚Äôs Logan, Bostic, Bowman, Barkin & ECB‚Äôs de Guindos.

2023-03-03_09-21-01.jpg 2023-03-03_09-21-37.jpg

Biggest FX Mover
 @ (07:30 GMT) AUDUSD (+0.36%). Rallied from a test into the 0.6700 zone yesterday to 0.6760 now. Wednesday’s 0.6780 high is next key resistance. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 59.30 & rising, H1 ATR 0.00112, Daily ATR 0.00752.

2023-03-03_09-19-24.jpg


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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

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

Date : 6th March 2023.

Market Update ‚Äď Risk Apettite ahead of a massive week!


daily-market-update-696x364.png
China set a modest target for economic growth this year of around 5% on Sunday, and is poised to implement the biggest government shake-up in a decade. Disappointing the markets! USD under pressure. Yields decline and Stocks extend rally today after Friday’s strong close. Stronger than expected data releases have revived tightening speculation and kept a lid on local stocks.

Rate‚Äďsensitive tech shares outperformed in Japan, just like in the US, after comments from Richardmond Fed President¬†Thomas Barkin¬†that inflation is ‚Äúlikely past peak,‚ÄĚ which helped to rein in long-term Treasury yields from multi-month highs. A day earlier, Atlanta Fed chief¬†Raphael Bostic¬†hinted that a peak in rates may come in summer.

74f8cc2eefd80a720321b151b9eb117f.png
 

  • USD¬†under pressure retested¬†104.34¬†low.¬†EUR¬†extends to¬†1.0640, for a 2nd day in a row.¬†JPY¬†dipped¬†135.30¬†but has inclined to¬†135.70¬†now.¬†Sterling¬†jumped to¬†1.2040¬†but failed to exit February‚Äôs range.
  • Stocks ‚ÄstThe US markets rallied amid overtightening comments from FED officials. Movers ‚ÄstUS500¬†+0.76%¬†4054,¬†US100¬†+0.76%¬†12341, US30¬†+0.76%¬†33408, GER40¬†up 0.2%,¬†UK100¬†futures are flat.

2023-03-06_08-52-52.jpg
 

  • Commodities ‚Äď USOil ‚Äď holds gains above¬†$78.80 from EIA small supply gain seen last week and as markets weigh prospects for China demand after latest economic data.¬†Gold ‚Ästhad its best week since mid-January amid soft USD. Currently at $1858.20.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď tanked on Friday to¬†21,858¬†amid Silvergate Failure (Silvergate¬†Halts Crypto Payments After Suffering $1 Billion Loss). Currently recovering above $22k.

Today ‚ÄstEurozone January retail sales, February S&P Global PMIs for Germany, France and Eurozone, Canadian Ivey PMI and US Factory Orders.

2023-03-06_09-52-54.jpg

Biggest FX Mover @ (07:30 GMT) GBPCHF (-0.49%). Dipped to 1.2128 on EU open. MA’s aligned lower, MACD histogram turn negative & signal line is at 0, RSI 29 & falling, H1 ATR 0.00116, Daily ATR 0.00776.

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

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

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  • Representatives
Date : 7th March 2023.

Market Update ‚Äď Buoyed investor sentiment ahead of Powell.


Powell-696x461.jpg
USD¬†under pressure,¬†Yields¬†slightly higher buoyed by investor sentiment which also boosted¬†Stocks¬†after they sagged through US session. (Reuters) ‚ÄstChina‚Äôs exports & imports¬†dropping for January-February pointed to continued weakness in demand for the country‚Äôs products & foreign demand, backing government concerns that a global slowdown will be felt at home.¬†RBA raised rates to 3.60% from 3.35%¬†the highest in more than a decade but suggested it¬†might be nearly done¬†tightening as consumer spending was slowing and there was less risk of a wages-driven inflation blow-out.¬†The bid fell out of the markets as trading turned more cautious post weak trade data which weighed on Chinese stocks and ahead of Fed Chair Powell‚Äôs Testimony.
 
  • Futures traders are pricing in a 76%¬†probability the Fed will raise rates by 25 basis points at its March 21 to 22 meeting and a 24% likelihood of a 50 bp increase.
  • USD holds¬†at 10-day low area at¬†104.12¬†now.¬†Euro¬†retests¬†1.07,¬†Sterling¬†jumped to¬†1.2062¬†above 20-DMA.¬†Aussie¬†at a more than 2-month low of¬†0.6690.
  • Stocks ‚ÄstJPN225¬†+0.25% at 28,309 ‚ÄstUS500 at¬†4058,¬†US100¬†+1% at¬†12348, US30¬†+0.12%¬†33487.META¬†will cut thousands of jobs as soon as this week in a fresh round of layoffs.
2023-03-07_08-33-38.jpg
 
  • Commodities ‚Äď USOil ‚Äď jumped to¬†$80.93. China‚Äôs crude oil imports fell 1.3% in the first two months of 2023 from a year earlier, data showed on Tuesday, but analysts pointed to accelerating imports in February as a sign that fuel demand was rebounding after Beijing scrapped COVID-19 controls.¬†Gold ‚Ästslightly higher at $1850.98.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď steady at $22k.
Today ‚Äď Fed Chair Powell‚Äôs Testimony first to the Senate Banking Committee, and then to the House Finance Committee tomorrow. He is expected to reiterate the Fed‚Äôs hawkish stance of higher for longer rates.

2023-03-07_09-45-43.jpg

Biggest FX Mover @ (07:30 GMT) GBPAUD (+0.50%). Rallied to 1.7982. MAs aligned higher, MACD histogram & signal line extend higher, RSI 75 & rising, H1 ATR 0.00271, Daily ATR 0.01426.

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 8th March 2023.

Market Update ‚Äď Fed is prepared to ‚Äúspeed up‚ÄĚ.


NASDAQ_USA100_STOCK-2-696x340.png
USD rallied to 105.85 during Powell’s hawkish speech and holds above 105.57 since then. Yields rose and stock markets remain under pressure. The Nikkei was a notable exception overnight, with a 0.5% gain. Curves are inverting further in Germany and the US as concern that overly aggressive central bank action will hurt the recovery returns. The curve inverted to -104 bps, the most since 1981, from -93 bps.

2023-03-08_09-55-11.jpg¬†A more¬†hawkish¬†than expected stance from Fed Chair Powell saw Treasury yields spike and Wall Street sink, while the dollar firmed. Although Powell did not really say anything new as he reiterated the ‚Äúhigher for longer‚ÄĚ policy mantra, he did open the door for a return to a more aggressive¬†50 bp rate hike¬†and the markets jumped through it.¬†BlackRock sees ‚Äėreasonable chance‚Äô of Fed raising rates to 6%.
 
  • USD at 105.66¬†now.¬†Euro¬†drifted to¬†1.0544,¬†Sterling¬†broke 4-month support to¬†1.1861,¬†below 20-WMA.¬†Yen¬†spiked to¬†137.54¬†on US Dollar strength.
  • Stocks ‚Äď US500¬†tumbled¬†1.53%¬†to close under the¬†4000¬†mark. The¬†US100¬†slid¬†-1.25%. The US30¬†dropped¬†-1.72%¬†with losses accelerating after the break below¬†33,000.
2023-03-08_09-27-57.jpg
 
  • Commodities ‚Äď USOil ‚Ästmassive sell off from¬†$80.95 to $77.13¬†on fears that more aggressive US interest rate hikes would hit demand. API shows US crude stocks fall helped oil to find a floor, while USD rise keeps lid on oil.¬†Gold ‚Äst1-week low (-1.9%) at¬†1814.22.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď at $21936.
Today ‚Äď Fed Chair Powell‚Äôs Testimony to the House Finance Committee. US ADP, & BoC rate decision.

2023-03-08_09-56-52.jpg

Biggest FX Mover @ (07:30 GMT) XAUUSD (-1.9%). Plummeted to 1809. MAs flattened, MACD histogram & signal line remain well below 0, RSI 30 & flat, H1 ATR 2.32, Daily ATR 18.25.

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 9th March 2023.

Market Update ‚Äď The DAMAGE has been done!


fear_1200x628-696x364.png
The damage from the Fed has been done and fears of an upshift to a faster pace of rate hikes this month, along with an even higher terminal rate and for a longer period of time, saw yields cheapen further. ADP and JOLTS showed a still hot labor market. USD steady at 105.60, Treasury yields nudged higher overnight, as did JGB rates ahead of the current BoJ meeting.The curve inverted further to -108 bps from -104.8 bps Tuesday, the most inverted since 1981. BOC left the policy rate unchanged at 4.50%, a tie for the highest rate since 2007 and indicated it would continue its quantitative tightening strategy.

Overnight: China’s Feb consumer inflation slowed (1.0% from 2.1%), Producer deflation deepened. In Japan Kazuo Ueda nomination as the next central bank governor was approved, signing off on a new leadership that will be tasked with steering a smooth exit from ultra-loose monetary policy.
 
  • USD hovers near 3-month high at 105.66¬†now.¬†Euro¬†held¬†1.0520 floor,¬†Sterling¬†at¬†1.1850.¬†Yen¬†gained some ground against USD, pullback to¬†136.60. The¬†Loonie lost some ground, but is recovering with¬†USDCAD¬†at¬†1.3820 (4-month high)
  • Stocks ‚Äď US100¬†rose by¬†0.40%¬†to close¬†to 12,252. The¬†US500¬†+0.14%. The US30¬†dropped¬†-0.18,¬†slid to¬†32,740 today.¬†2023-03-09_09-05-30.jpg
  • Commodities ‚Äď USOil ‚Äď extended losses to $76.19.¬†Steady today below PP at¬†$76.70,¬†as US crude stocks fell 1.7 million barrels (more than expected) and hopes for China demand (China‚Äôs crude oil imports fell 1.3%) contended with worries that more aggressive US interest rate rises would slow economic growth and dent oil consumption.
  • Gold ‚Ästin a tight range at $1811-$1816.¬†Ahead of Jobs Gold may bounce to¬†$1,825¬†before falling towards Feb. 28 low.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď below 50-DMA, retests at $21,536.¬†Key supports at Feb low at¬†21,280¬†and year‚Äôs gap¬†(19,888-20,350).
Today ‚Äď US Initial Jobless claims.

2023-03-09_09-34-16.jpg

Biggest FX Mover @ (07:30 GMT) CADJPY (-0.49%). Plummeted to 98.99. MAs aligned lower, MACD histogram & signal line remain well below 0 and falling RSI 35 but flat, H1 ATR 0.137, Daily ATR 0.729.

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 10th March 2023.

Market Update ‚Äď Stock Tumbled!
Blame is on Banks!


daily-market-update-696x364.png

It is not only the Fed this time but also the US Banks and more precisely the SVB Financial Group SIVB which drifted by -60.41% yesterday. Shares of SVB, the parent of Silicon Valley Bank, disclosed the loss and sought to raise $2.25 billion in fresh capital by selling new shares. The 4 biggest US banks lost $47 bln in Market Value! (BoA, Citi, JP Morgan, Wells Fargo). Jobless Claims unexpectedly ticked up. Germany February final CPI remains sticky at +8.7% vs +8.7% y/y prelim. UK January monthly GDP +0.3% vs +0.1% m/m expected.

2023-03-10_09-25-18.jpg 2023-03-10_09-50-50.jpg

Overnight: BoJ left policy unchanged, as universally anticipated, in Governor Kuroda’s final meeting. The policy rate was left steady at -0.1%, along with a 0.5% cap on the 10-year JGB yield (YCC).The vote was a unanimous 9-0. JGB & Nikkei (-1.67%) sinks overnight, the Kuroda swansong maintains Yield Curve Control with no tweaks and outlook remains as Dovish as ever. China’s Xi Jinping takes third term as President with eye on US.
 
  • USDIndex¬†gapped down to 104.62 low.
  • VIX¬†climbed¬†18%,¬†the biggest jump since June, to¬†22.42.
  • Euro¬†jumped to¬†1.0590, Sterling¬†up at¬†1.1950.¬†Yen¬†jumped to¬†136.96 from 135.80.¬†USDCAD¬†at¬†1.3850 high.
  • Treasury yields plunged¬†Thursday, first richening on the cooling in weekly jobless claims, then extending lower as¬†Wall Street slumped sharply.¬†Technical buying¬†also supported the¬†rally¬†in¬†Treasuries.
  • Stocks ‚Äď US100¬†dove by¬†-2.05%. The¬†US500¬†-1.85%. The US30¬†dropped¬†-1.66%. Russell¬†slid -3%, Topix Banks¬†-5.83%. PacWest Bancorp¬†fell 25%, and¬†First Republic Bank¬†lost 17%.¬†Charles Schwab Corp. fell 13%, while¬†US Bancorp¬†lost 7%.¬†America‚Äôs biggest bank,¬†JPMorgan Chase & Co., fell 5.4%.¬†Twitter¬†and¬†Elon Musk¬†face legal risks in FTC Probe.¬†Tesla¬†(-4.99%).¬†2023-03-10_09-51-19.jpg
  • USOil ‚Äď dips to $74.93.
  • Gold ‚Ästrebounds to $1834.79¬†but looks to be capped around here by the hawkish Fed outlook.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď below $20K, filled January‚Äôs gap! Next supports at 2022 bottom!
Today ‚Äď NFP and Canadian Labor data!

2023-03-10_10-22-17.jpg

Biggest FX Mover @ (07:30 GMT) VIX(+18%). Spiked to 22.42. MAs are now flat, MACD histogram & signal line remain well above 0, RSI 79 but flat, Stochastics falling, H1 ATR 0.36, Daily ATR 1.24.

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 13th March 2023.

Market Update ‚Äď Futures illiquid & sensitive to news!

 
banking-696x364.png


Another Bank failed over the weekend! Along with SVB, the Fed also closed Signature Bank. The Fed announced a new funding facility on Sunday, the Bank Term Funding Program (BTFP), to stave off a possible fire sale and subsequent liquidity crisis and a run on banks when the markets reopened today following the failure of the two banks.

US equity futures rose and the USD declined so far in today’s trading after regulators weighed in to shore up the banking system and said depositors of collapsed tech sector lender Silicon Valley Bank would be fully repaid.

2023-03-13_09-55-32.jpg

2023-03-13_09-55-52.jpg

The Fed also announced the Discount Window is open and will apply the same margins as the new BTFP facility. Fed, FDIC, and Treasury officials also said customers of SVB will have access to all their funds, even those in excess of the $250k FDIC limit, on Monday. These quick actions significantly reduce systemic risks across the financial system and should significantly calm fears. Also First Republic Gets Additional Funding From Fed, (JPMorgan).
  • USDIndex¬†drifted to 103.43 low as rate outlook now is very uncertain.¬†Could the Fed protect small US banks & hold back on raising rates at the next meeting?
  • Goldman Sachs¬†economists said late Sunday they no longer expected the Fed to increase rates on March 22, its next meeting.
  • VIX¬†climbed to¬†27.05¬†before retracing to¬†22.37.
  • Euro (+0.84%)¬†jumped to¬†1.0733, Sterling¬†up at¬†1.2113¬†retesting 50-DMA.¬†Yen¬†declines with¬†USDJPY¬†to¬†134.50 from 133.50.¬†USDCAD¬†down to¬†1.3320 from 1.3860 high.
  • The¬†yield¬†on the 10-year US Treasury rose to 3.704%, while the yield on the 2-year note fell 0.15% to 4.435 per cent.¬†Yields move inversely to price.
  • Stocks ‚Äď US100¬†up by +1.65%,¬†US500¬†+1.53%, US30¬†dropped¬†+1.09%

2023-03-13_10-29-23.jpg 2023-03-13_09-57-49.jpg
 
  • USOil ‚Äď up to $77.18, rising 0.65%.
  • Gold ‚Ästrebounds to $1875 on a flight to safety¬†.
  • Cryptocurrencies ‚Äď BTC¬†‚Äď up by 9.1% rallied to $22.5K! (key neckline). Cryptocurrency prices rallied after US regulators said depositors of Silicon Valley Bank and Signature Bank, a major bank for crypto companies,¬†would get their money back.
    • Ether¬†also climbed 9% to $1,611.
2023-03-13_10-31-08.jpg

Biggest FX Mover @ (07:30 GMT) BTCUSD (+9.1%). Spiked to 22566. Next Resistance at 23000-23090.

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 14th March 2023.

Market Update ‚Äď Markets brace ahead of Inflation!


inflation_1200x628_2-696x364.png
The fallout from the failure of SVB and Signature Bank has been far and wide, rattling global markets. Much of the focus now is on upcoming central bank actions and whether policymakers will be hesitant to add to market volatility with additional rate hikes.

Wall Street was all over the board and finished mixed. Equities opened on the backfoot after steep declines overnight and amid losses of -2% in European bourses. Stocks slumped in Asia. Major US regional bank stocks suffered their largest decline in three years, FRC -61.83%, Credit Suisse fell by 15% (withdrew $120 billion in the three months to Dec. 31).

With the creation of the new ‚ÄúBTFP‚ÄĚ to backstop the financial system,¬†Treasuries¬†garnered a¬†very strong flight to safety bid, and especially at the front end of the curve. The markets also repriced Fed rate hike expectations, taking out the prospects for further aggressive action, and pricing in rate cuts later in the year.¬†US Dollar¬†was generally weaker through the session.

2023-03-14_09-04-29.jpg Investors bet against the 2-year Treasury en masse, expecting its yield to continue climbing. That was the worst three-day rout since the days after Black Monday in 1987 eventhough it was not maintained.
 
  • USDIndex fell to 103.48 with losses against its G10 peers. Today slightly higher.
  • Yields ‚ÄstThe 2-year had its¬†biggest slide since 2008, to a low of¬†3.935%.¬†It closed at 3.984%, the lowest since mid-September and is 113 bps richer just from Wednesday‚Äôs 5.07% peak, which was the highest since 2007. The 10-year closed at¬†3.568%.
  • VIX¬†climbed to¬†28.35¬†before retracing to¬†24.47.
  • Euro¬†settled slightly below¬†1.07, Sterling¬†held gains at¬†1.2160¬†(no impact from tight labor data).¬†Yen¬†picked up a strong haven bid to¬†133.00.
  • Stocks ‚Äď US100¬†posted a +0.45%¬†gain,¬†US500¬†-0.15% lower, US30¬†closed in red¬†-0.28%.

2023-03-14_08-22-49.jpg 2023-03-14_08-23-19.jpg
  • USOil ‚Ästheld losses ahead of key inflation data as the biggest US bank collapse since 2008 continued to ripple through financial markets. It is at¬†$74 rising 0.65%.
  • Gold ‚Ästsurges lower after 5% rally to $1914.¬†Currently at¬†$1909.
  • Cryptocurrencies ‚Äď BTC surges by 12% spiking to $24,815.
    • Ether¬†also climbed 6% to $1,693.
Today: US CPI report could give the FOMC the chance to remain sidelined, or at least decide on a 25 bp hike versus the 50 bps that was firmly priced in last Wednesday.

2023-03-14_09-07-56.jpg

Biggest FX Mover @ (07:30 GMT) VIX (+6.94%). Spiked to 28.55 before settling below PP at 24.47.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 15th March 2023.

Market Update ‚Äď March 15 ‚Äď Can the bounce back hold?


daily-market-update-696x364.png
The¬†USD¬†tested into 20-day lows again as¬†Stock markets¬†recovered (NASDAQ¬†+2.14%) from 3 big down days following the SVB shock.¬†US CPI¬†cooled to¬†6%¬†from 6.4% (as expected), however the CORE figure for February actually rose and demonstrates the ‚Äústickiness‚ÄĚ of Services inflation in particular. Fed Funds Futures see an 81.2% chance of a 25bp hike next week from the FED. Overnight: The¬†BOJ Mins.¬†confirmed commitment to super easy policy noting a rising inflation picture, Chinese¬†Unemployment¬†surprisingly increased to 5.6% as Retail Sales recovered strongly to 3.5% from ‚Äď1.8%.
 
  • FX¬†‚ÄstUSDIndex¬†has dipped again to test the¬†103.00¬†zone today, last Wednesday it was at 105.85.¬†EUR¬†holds over¬†1.0700¬†and has breached 1.0750 today.¬†JPY¬†holds over¬†134.00¬†but remains capped by¬†135.00¬†today.¬†Sterling¬†ahead of the¬†UK Budget¬†today holds at 1.2150 after testing¬†1.2200¬†highs on Monday & Tuesday.
  • Stocks ‚ÄstThe US markets rallied yesterday (+1.06% to +2.14%) as tech companies recovered and Banks bounced. Movers:¬†FRC¬†+27%,¬†SCHW¬†+9.19%,¬†META¬†+7.25%, (another 10k job losses)¬†TSLA¬†+5.03%.¬†BANCORP¬†-3.43%, AMC -5.20%.¬†US500¬†+1.68% (+29.96) to recover¬†3900¬†to close at¬†3920,¬†US500¬†FUTS higher at¬†3925¬†now.
2023-03-15_09-23-30.jpg
 
  • Commodities ‚Äď USOil ‚ÄstFutures collapsed some¬†‚Äď4% yesterday, posting¬†new 2023 & 2022 lows¬†at¬†$70.72. It has since recovered +1.35% to recent support levels at¬†$72.20,¬†which could now act as resistance.¬†Gold ‚Ästholds the key psychological¬†$1900¬†level, up some $90 an ounce from tests of $1809 last week.
  • Cryptocurrencies ‚Äď BTC¬†breached both¬†$25 & $26K¬†yesterday to test a 9-mth high at $26.3k. Currently it trades below¬†$25k¬†at $24.8k.
Today ‚ÄstEZ Industrial Production, US NY Fed, PPI &¬†Retail Sales,¬†UK Spring Budget, IEA OMR,¬†NZ GDP.

2023-03-15_08-56-26.jpg

Biggest FX Mover @ (07:30 GMT) EURJPY (+0.59%). Continued the rally today from Monday’s low under 141.500 back to test 145.00 now. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 71.53, OB & rising, H1 ATR 0.222, Daily ATR 1.377.

2023-03-15_09-54-24.jpg

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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 16th March 2023.

Market Update ‚Äď March 16 ‚Äď all Eyes on Zurich‚Ķand Frankfurt.


eu_update_1200x628-e1567669197104-696x339.png
Trading Leveraged Products is risky

Concerns over Credit Suisse added to the fallout from the collapse of SVB, Signature Bank and Silvergate. And though there have been problems at the big Swiss bank for years, fears of a global contagion exacerbated investor jitters. The Bank was down -30% at one point ‚Äď closed -14%. The Swiss authorities will offer a loan of $54bn to try to prevent collapse and the stock is +35% pre-market. A risk off mood has raced around the World and holds for now.

USD, CHF, JPY & Gold had safe haven bids and the short end of the yield curve collapsed with the 2-yr falling the fastest in decades. Stock markets recovered from 2023 lows into close after heavy losses on open (NASDAQ +0.05%). Asian markets lower (-0.80% to -2.12%), US PPI & Retail Sales both undershot expectations, and the UK Budget focused on pensions and childcare as millions of workers continued to strike. Overnight: Japanese Machine Orders and the Trade Balance were both much better than expected and in Australia Unemployment dropped to 3.5% as jobs soared to 65K from a decline of 11k last month. NZD GDP missed at -0.6% q/q vs. -0.2% and 2.2% y/y vs. 3.3%.
 
  • FX¬†‚ÄstUSDIndex¬†rallied over 150 pts to¬†104.70¬†yesterday and has eased to 104.20 now.¬†EUR¬†tanked from over¬†1.0750¬†to under 1.0520 before recovering¬†1.0600¬†today.¬†JPY¬†holds over¬†133.00¬†now but ranged from 135.00 to 132.40 yesterday.¬†Sterling¬†tanked from 1.2150 to test the key¬†1.2000¬†yesterday and trades at 1.2070 now.
  • Stocks ‚ÄstThe US markets opened 1-2% lower but recovered into close (-0.87% to +0.05%) Movers:¬†SCHW¬†+5.06%,¬†XOM¬†-4.97%,¬†CVX¬†-4.33%.¬†US500¬†-0.70% (-27.36) to¬†3892,¬†US500¬†FUTS +0.95% higher at¬†3930¬†now.
2023-03-16_09-32-38.jpg
 
  • Commodities ‚Äď USOil ‚ÄstFutures collapsed some¬†-6% again yesterday, following a -4% fall on Tuesday to touch¬†$65.70¬†lows last touched December 2021. It has since recovered to¬†$67.80.¬†Gold ‚Ästholds the key psychological¬†$1900¬†level, at $1920 down from yesterday‚Äôs 6-week $1935 high.
  • Cryptocurrencies ‚Äď BTC¬†dipped to¬†$24k¬†from¬†$25K¬†yesterday and trades at $24.5k now.
Today ‚ÄstUS Building Permits/Housing Starts, Export/Import Prices, Weekly Claims,¬†ECB Policy Announcement¬†& Press Conference.

2023-03-16_09-35-05.jpg


Biggest FX Mover @ (07:30 GMT) AUDUSD (+0.60%). Continued the rally today from yesterday’s low under 0.6600 back to test 0.6660 now. MA’s aligned higher, MACD histogram & signal line negative but rising, RSI 59.56 & rising, H1 ATR 0.00154, Daily ATR 0.00782.

2023-03-16_09-42-57.jpg


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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 17th March 2023.

Market Update ‚Äď March 17 ‚Äď Another day another bank bailout.


daily-market-update-696x364.png

A private ($30 bln) ‚Äúrescue‚ÄĚ of¬†First Republic Bank¬†by a consortium of 11 big banks helped ease concerns over a full blown financial crisis. Their efforts were rewarded yesterday, as risk appetite improved and investors returned to Wall Street, lifting the major indexes sharply.¬†USA100¬†jump 2.48% and is up¬†7.95%¬†from Monday‚Äôs nadir, the¬†US500¬†advance 1.76%, and the¬†USA30¬†was 1.17% firmer. A risk off mood that raced around the world this week has cooled.¬†Asian markets¬†are firmer too (Hang Seng¬†leads at +1.44%) and¬†European FUTS¬†are also in positive territory.

USD & Treasuries have cooled as yields recover. The 2-year jumped 27 bp to 4.155% and the 10-year was up 12 bp to 3.569%, back over the 4.00% and 3.5% levels, respectively. The curve bear flattened to -59 bp from -44 bp on Wednesday and versus -108 bp a week ago.

ECB delivered a 50 bp rate hike, and stuck to its guns, despite the turmoil in financial markets this week. The guidance on future moves was not surprisingly dropped though and the ECB stressed that future decisions will be data dependent. Ms. Lagarde’s Press Conference emphasised the data dependency approach.

US Data & Overnight: US Weekly Claims fell again (192k vs. 212k) and the Housing Data was also better than expected. Japanese Tertiary Industrial Activity rose significantly too (0.95 vs -0.4% last month).
 
  • FX¬†‚ÄstUSDIndex¬†has dipped to test¬†103.50¬†today from 104.70 highs on Wednesday.¬†EUR¬†tanked to 1.0550 lows as the ECB announcement was digested, before rallying to¬†1.0660¬†now. The 1.0600-1.0700 range remains key.¬†JPY spiked below 132.00,¬†rallied to 133.75 and is back to¬†133.00¬†now.¬†Sterling¬†rallied over¬†1.2100¬†yesterday and trades at 1.2160 now.
  • Stocks ‚ÄstThe US markets rallied (+1.17% to +2.48%) Movers:¬†SCHW -2.80%,¬†FRC¬†rallied +10% (but lost ‚Äď17% after hours). Tech giants gained over¬†4%¬†MSFT, AMZN & GOOG¬†.¬†US500¬†+1.67% (+68) to¬†3960,¬†US500¬†FUTS higher too¬†4000¬†now.
2023-03-17_09-23-04.jpg

 
  • Commodities ‚Äď USOil ‚ÄstFutures tested the 15-mth low at¬†$65.70¬†again yesterday before recovering to¬†$69.00.¬†Gold ‚Ästholds the key psychological¬†$1900¬†level, at $1930 down from yesterday‚Äôs 6-week $1935 high.
  • Cryptocurrencies¬†‚ÄstBTC¬†has again rallied over¬†$25K¬†&¬†$26k¬†to¬†$26.5k now.
Today ‚ÄstEZ HICP (Final), US Industrial Production, Leading Index Change,¬†Univ. of Michigan (Prelim.)¬†and¬†Quad Witching.

2023-03-17_10-27-19.jpg

Biggest FX Mover @ (07:30 GMT) NZDUSD (+0.95%). Continued the rally today from yesterday’s low under 0.6150 back to test 0.6250 now. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 71.00, OB & rising, H1 ATR 0.00128, Daily ATR 0.00766.

2023-03-17_10-35-41.jpg


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

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


Click HERE to access the full HFM Economic calendar.

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

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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  • Representatives
Date : 20th March 2023.

Market Update ‚Äď March 20 ‚Äď CS sends shockwaves through the market!


risk-696x364.png
UBS to buy Credit Suisse in a more than $3 bln share deal, pushed into the biggest banking deal in years! The Swiss government will provide more than $9 billion to backstop some losses that UBS may incur by taking over Credit Suisse, while $17.3 billion of the so-called additional tier 1 bonds will be completely written down. Last Thursday, CS also took a $54 billion lifeline from the Swiss National Bank.

Credit Suisse’s takeover by UBS marks the end of the bank’s 167 years as an independent institution.

Global central banks announce enhanced USD liquidity arrangement.¬†The¬†Fed, the¬†Bank of Canada, the ECB, the BoE, the Bank of Japan and the SNB¬†on Sunday announced, ‚Äúcoordinated action to enhance the provision of liquidity, via the standing US dollar liquidity swap line arrangements‚ÄĚ. The frequency of the 7-day maturity operations will be enhanced from weekly to daily as of March 20 until at least through the end of April ‚Äúto support smooth functioning of US dollar funding-markets‚ÄĚ.
 
  • Insignificant Exposure in China:¬†The Swiss bank‚Äôs Hong Kong branch has assets equivalent to around $12.7 billion, less than 0.5% of the overall banking system.
  • Bancorp‚Äôs Flagstar Bank will take on nearly all of Signature Bridge Bank‚Äôs deposits.
  • In¬†2019, the Fed issued a warning to SVB over its risk-management systems.
  • Stocks ‚Äď Stock markets are selling off! USA100¬†down to¬†12580,¬†the¬†US500¬†dipped to¬†3912, and the¬†USA30¬†at¬†31,760.¬†Nikkei¬†and¬†ASX¬†closed with losses of¬†-1.4%, the Hang Seng is down¬†-3.1%¬†and European and US futures are also sharply lower.
2023-03-20_09-45-03.jpg
 
  • FX¬†‚ÄstUSDIndex¬†is at¬†103.40¬†today.¬†EUR¬†slightly down to 1.0636, but holds the upchannel since last Wednesday!¬†JPY spiked below 131.00,¬†retested S1 at¬†130.70.¬†Sterling¬†steady around¬†1.2190.
  • Commodities ‚Äď USOil ‚Ästdragged down with stocks, at¬†$64.70¬†low.
  • Gold ‚Ästup 2% today, breaching 3 year high territory at¬†$2009¬†level.
  • Cryptocurrencies¬†‚ÄstBTC¬†in a rally to¬†$28,262¬†since Asia open, up more than¬†3%.
Today ‚ÄstECB Lagarde speech, Import & Exports from New Zealand.

2023-03-20_09-45-57.jpg

Biggest FX Mover @ (07:30 GMT) GOLD (+0.95%). Breached $2009! MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 78 OB & rising, H1 ATR 10.05, Daily ATR 31.41.

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.


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Stuart Cowell
Head Market Analyst
HFMarkets

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