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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 200174, member: 32345"] [B]Date : 7th October 2021. Market Update – October 7 – Stocks Recover, USD Holds, Oil dips.[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2020/08/daily-market-update.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG][/URL] [LIST] [*]USD ([B]USDIndex 94.25[/B]) holds at highs, Stocks recover and ADP beat as debt ceiling is likely to be extended to December. Biden & Xi to hold summit before year end, Oil dipped after surprise build in inventories. [*][B]Yields[/B] [B]eased a tad[/B] (10yr closed [B]1.5240%[/B]) now at [B]1.54% [/B]in Asian trades – Yields very much “on notice” following [B]RBNZ[/B]. (30-yr at [B]2.14%[/B]). China remains closed. [B]Evergrande[/B] news – investor to go private , clock ticking. [*][B]Equities moved higher into close. [/B] [B]USA500[/B] +17.0 (+0.41%) at [B]4363 [/B](but remains weak) USA500.F higher for 3rd day [B]4375.[/B] Asian equities mixed. [B]VIX[/B] closed at 21.20 – trades lower at [B]20.87[/B] now. [*][B]USOil[/B] down from record highs [B]$78.95[/B] to [B]$76.50[/B] as inventories surprisingly rose by 2.3 million barrels. [*][B]Gold[/B] slips on higher yields down to [B]$1745[/B] now back to [B]$1760; [/B]20-day MA [B]$1765. [/B] [*][B]FX markets USD bid[/B] – [B]EURUSD[/B] [B]1.1565 [/B]from[B] 1.1525, Cable[/B] holds [B]1.3600,[/B] & [B]USDJPY[/B] higher again at [B]111.35 [/B]from [B]111.85 [/B]yesterday. [/LIST] [B]European Open[/B] – The December 10-year Bund future is down -14 ticks, US futures are also lower. There was also some relief on the energy crunch in Europe and DAX and FTSE 100 futures are posting gains of more than [B]1%,[/B] outperforming versus US futures, which are also moving higher though, led by a 0.6% rise in the NASDAQ as tech-stocks are back in demand. [B]Today [/B]– US Weekly Claims, Challenger Job Cuts, ECB Mins & BOC’s Macklem, Fed’s Wiliams. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/10/2021-10-07_10-01-09.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/10/2021-10-07_10-01-09.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDUSD (+0.33%) [/B]Rallied from [B]0.7225[/B] lows yesterday to test [B]0.7300[/B] now. Faster MAs aligned higher, MACD signal line & histogram trending higher & over 0 line, RSI 63 & moving higher. H1 ATR 0.0010, Daily ATR 0.0068. [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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