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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 196564, member: 32345"] [B]Date : 18th June 2021. Market Update – June 18 – The FED still dominates.[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2018/12/eu_update_1200x628-e1567669197104.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2018/12/eu_update_1200x628-e1567669197104-696x339.png[/IMG][/URL] Trading Leveraged Products is risky [B]Market News Today[/B] – [B]USD holds on to gains[/B] (USDIndex test 92.00) [B]US Equities mixed[/B] – (USA100 +0.87% & new ATH, USA30 -0.62%). [B]BoJ [/B]left [B]policy unchanged[/B] and stuck to its ultra-accommodative policy setting & [B]extended COVID funding.[/B] JPY Inflation came in better than expected to with the CORE reading turning positive (just) for the first time since April 2020. Asian shares up but closing lower for the week. Round Number Friday – [B]EUR [/B]down to[B]1.1900[/B],[B] JPY 110.00 [/B]and[B] Cable 1.3900[/B]. 10 yr Yields [B]1.51%[/B] but the spreads between US Corporate debt and US Government debt is at a 10-year low¹ – and could explain the tech rally yesterday following the Hawkish FED. [B]Gold[/B] dived to [B]$1770[/B] (open the week at $1875; -5.6%) trades at $1785 now. [B]USOil Overnight[/B] – Big beat for [B]German[/B] [B]PPI[/B] ([B]1.5% [/B]vs 0.7%, & 0.8% prev.) and big miss for[B] UK[/B] [B]Retail Sales[/B] ([B]-1.4%[/B] vs 1.5%, & prev: 9.2%) [B]European Open[/B] – The September 10-year Bund future is slightly lower and in cash markets Eurozone bonds are also finding some support, although the U.S. 10-year rate has lifted 0.7 bp to 1.51% overnight. Stocks traded narrowly mixed across Asia and DAX and FTSE 100 futures are also little changed, while US futures are slightly higher, led by a 0.3% rise in the NASDAQ. With growth stabilising the tide is slowly turning, although [I][B]it is clear that central banks will be taking a very, very cautious approach on tapering, with policy set to remain extremely accommodative for a long time to come.[/B][/I] It seems unlikely that the BoE will break the line when it meets next week. – Action Economics [B]Today[/B] – Little new news today – EU Econ Ministers meeting & Fed’s Kashkari, its also [B]Quadruple Witching[/B] Friday (Quarterly Index & Stock Options and Futures Contracts all expire – 3rd Friday of the Quarter) [URL='https://analysis.hotforex.com/wp-content/uploads/2021/06/2021-06-18_09-51-08.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/06/2021-06-18_09-51-08.jpg[/IMG][/URL] [B]Biggest FX Mover @ (06:30 GMT) NZDJPY [/B]([B]-0.59%[/B]) turned lower again, has been under 20-day moving average since June 3 from [B]78.76[/B]. Breached [B]78.00[/B] yesterday and [B]77.00[/B] today. Faster MAs remain aligned lower, RSI 24 & OB, MACD signal line and histogram falling and significantly below 0 line. H1 ATR 0.130 Daily ATR 0.620. [B]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.[/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]Stuart Cowell Head Market Analyst HotForex Disclaimer:[/B] 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. [/QUOTE]
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