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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 153762, member: 32345"] [FONT=Georgia][COLOR=rgb(20, 20, 20)][B]Date : 11th October 2018. MACRO EVENTS & NEWS OF 10th October 2018.[/B] [IMG]https://analysis.hotforex.com/wp-content/uploads/2018/10/2018-10-11_09-36-02.jpg[/IMG] [B]FX News Today[/B] [B]European Fixed Income Outlook:[/B] 10-year Bund yields are down -5.5 bp at 0.495% in opening trade, French yields down -4.6 bp and most peripheral yields are also down as the stock market rout deepened during the Asian session. Italian BTPs are once again the exception and the 10-year yield backed up 2.3 bp to 3.523% amid ongoing fiscal concerns. Elsewhere bond markets are being supported though as investors dump equities amid growing concerns about earnings and the global outlook as trade tensions increasingly show up in earnings reports. European stock futures are down 1.4-1.9% in early trade, underperforming versus US futures, which are down 0.7-0.8% at the moment. Italy and Brexit developments will remain in focus today, while the data calendar focuses on inflation data out of France, Spain, Sweden. Released overnight, the UK RICS house price balance fell back to 2% from 1% in the previous month. [B]FX Action: [/B]USDJPY has posted a 3-week low at 111.97, and EURJPY and AUDJPY have both seen 1-month lows. Yen outperformance, although relatively moderate, drove the moves amid a backdrop of plunging stock markets, which has seen the Japanese currency pick up safe haven demand. Wall Street saw its worst day in over eight months yesterday, with the USA500 closing with a 3.3% loss, and USA500 futures have extended lower by a further 1% in overnight trading with Asian markets hit hard. Japan’s Nikkei is down 4.4% heading into the Tokyo close while the Shanghai Composite is off by 4.6% in the first hour of trading after the lunch break. The rise in US and global yields over the last week, which has come amid signs that inflation is making a return, is getting principal blame in market narratives (while Trump blamed the “crazy” Fed), in what seems like a post-financial crises watershed. The consequences of trade protectionism is also in the mix. [SIZE=4][B]Charts of the Day[/B][/SIZE] [IMG]https://analysis.hotforex.com/wp-content/uploads/2018/10/2018-10-11_09-42-34-1024x560.jpg[/IMG][/COLOR][/FONT] [FONT=Georgia][COLOR=rgb(20, 20, 20)][SIZE=4][B][B]Main Macro Events Today[/B][/B][/SIZE] [LIST] [*][B]BOE’s Governor Carney & MPC Member Vlieghe speeches[/B] [/LIST] [LIST] [*][B]ECB Monetary Policy Meeting Accounts – [/B]In-depth insights into the economic conditions that influenced ECB’s decision on regarding the interest rates. [/LIST] [LIST] [*][B]US Consumer Price Index and Core – Expectations –[/B]September CPI is expected to post increases of 0.2% for both the headline and core, after respective gains of 0.2% and 0.1% in August. [/LIST] [LIST] [*][B]Canadian New housing Price Index – Expectations – [/B]The new housing price index is projected to improve 0.1% in August after the 0.1% gain in July. [/LIST] [B]Always trade with strict risk management. Your capital is the single most important aspect of your trading business.[/B] [B]Please note that times displayed based on local time zone and are from time of writing this report.[/B] 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. [B] Andria Pichidi Market Analyst HotForex [/B] [B]Disclaimer:[/B] This material is provided as a general marketing communication for information pThis 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.[/COLOR][/FONT] [/QUOTE]
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