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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 197518, member: 32345"] [B]Date : 16th July 2021. Market Update – July 16 – Stocks stalled.[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2021/07/2021-07-16_09-57-53.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/07/2021-07-16_09-57-53-696x579.jpg[/IMG][/URL] [B][I]Curve-flattening trades pressed longer dated Treasury rates lower again Thursday after Fed Chair Powell did not change his tune regarding the view on inflation; that it should be temporary, & that an accommodative stance is still necessary.[/I][/B] The [B]curve collapsed[/B] to 108 bps, having retreated from 116 bps early in the week. It was the [B]narrowest since February[/B] . Elsewhere [B]BoJ[/B] did the expected & kept policy settings unchanged for now, but cut back its growth forecast for this year. [B]JPN225[/B] share average dipped below the psychologically key[B] 28,000 mark [/B]as tech shares tracked declines on Wall Street overnight, while a continued surge in coronavirus infections dented investor sentiment. Weakness in chip-related shares also helped bring down USA500 & USA100. [B]European stock markets struggled yesterday, Gilts sold off & Bunds pared gains[/B] as BoE’s Saunders added to comments from Deputy Governor Ramsden[U] suggesting asset purchases may have to end earlier[/U] than previously expected. At the same time, the[B] Delta variant [/B]& concern over the fallout from recent [B]devastating floods[/B] in Germany could also weigh on the [B]GER30[/B] today. Mixed earnings, uncertainties over inflation & Covid, along with current richly priced valuations prompted some profit taking. [HR][/HR] [B][U]FX markets[/U][/B]: [B]EURUSD[/B] dropped to [B]1.1806,[/B] while [B]GBPUSD[/B] eased to 1.3810. [B]NZD[/B] [B]up 0.6% at $0.7020[/B] after consumer prices rose far faster than expected, bringing forward markets’ rate hike expectations to August. [B]USOIL[/B] stayed under pressure drifting below $71.00 barrier. [B]Gold[/B] on the other hand hit a 1-month high of $1,834.3, supported by a dovish Fed. [B][U]Today [/U][/B]– [B]Eurozone[/B] May trade & June CPI. [B]US [/B]releases include Retail Sales & Michigan Index. [B]Biggest FX Mover @ (07:00 GMT) NZDJPY (+0.88%).[/B] NZD remains the biggest mover amongst majors in the Asia session, & so far, however the rally seems to have run out of steam as fast MAs flattened along with RSI at 55. MACD’s signal line remains negative while Stochastics gives mixed signals at OB area. [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] Click [B]HERE[/B] 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 [B]HERE[/B] to register for FREE! [B]Click HERE to READ more Market news. Andria Pichidi 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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