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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 203806, member: 32345"] [b]Date : 19th January 2022. Market Update – January 19 – Stocks tank, Yields higher, Inflation weighs.[/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] Stock markets sank (Nasdaq -2.6% as the VIX pushed higher +5.22%). Financials and Pharma companies led the slide, [B]USD[/B] firmer supported by high [B]Yields – [/B]the main market driver. US 10-yr 1.85%, German 10-yr to May 2019 highs as Inflation in UK & Germany hits 30-year highs. [B]Oil[/B] higher again, [B]Gold[/B] continues to gyrate. Pressure on UK PM grows. [LIST] [*]USD ([B]USDIndex[/B] [B]95.65[/B]) holds on to gains. [*][B]US Yields[/B] 10-yr moved higher – closed at [B]1.865%[/B] & trades at [B]1.883%. [/B] [*][B]Equities[/B] – USA500 -85 (-1.84%) [B]4577[/B] (GS -6.97%, BAC -3.44%, FB -4.0%, SONY -7.0%. Nikkei -0.27% – [B]USA500[/B] FUTS lower again at [B]4539[/B]. [*][B]USOil[/B] – Spiked over [B]$87.00[/B] as very tight supply, Saudi’s retaliation on Sanaa and NK continued firing of missiles continues to unsettle sentiment. [*][B]Gold[/B] – holds at [B]$1812 [/B]from a test of [B]$1820 [/B]& spike to[B] $1806[/B]. [*][B]Bitcoin[/B] tested to [B]$42,400[/B], back to 41,200 now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to [B]1.1336[/B], [B]USDJPY [/B]now [B]114.40 [/B]tested 115.00 yesterday, [B] Cable[/B] back to [B]1.3600, [/B]from 1.3570 lows yesterday. [/LIST] Overnight[B] – UK CPI – [/B]2 ticks higher at [B]5.4%[/B] vs 5.2% CORE 3 ticks higher at 4.2%, [B]RPI[/B] up to [B]7.5%[/B] from 7.1% & new 30-year highs. [B]German CPI[/B] in line at [B]5.3% [/B]and [B]HICP [/B]at[B] 5.7%. European Open[/B] – The 10-year Bund yield has lifted 2.4 bp to 0.002% in early trade with high readings for German and U.K. December CPI adding to pressure. Global equity markets are struggling with the sharp rise in yields and intensifying tightening expectations, leaving [B]DAX and FTSE 100 futures down -0.8% and -0.6%[/B] respectively. The Euro Stoxx 50 has lost -0.7% so far and a -0.8% correction in the NASDAQ is leading US futures lower. Pretty much the same picture as yesterday, with markets at risk of running way with tightening concerns, and central banks increasingly under pressure. [B]Today [/B]– Canadian CPI, IEA OMR, US Building Permits, Housing Starts, supply from Germany & the US. [B]Earnings[/B] from Bank of America, MS, UnitedHealth. DAVOS continues. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/01/2022-01-19_09-57-12.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/01/2022-01-19_09-57-12.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NZDCAD (+0.35%) [/B]Rallied from 3-day decline to [B]0.8455[/B] to [B]0.8495[/B] now. MAs aligned higher, MACD signal line & histogram higher & testing 0 line. RSI 56 & rising, H1 ATR 0.0011 Daily ATR 0.0056. [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. Click [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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