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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 204471, member: 32345"] [b]Date : 8th February 2022. Market Update – February 8 – USD rebounds ahead of US inflation.[/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]Treasury yields were mixed[/B] inside a narrow range as the market consolidated, coming to grips with the hawkish stance from the FOMC and other core central banks, while they found some[B] support from EGBs. ECB’s Lagarde stressed rate hikes will not begin until after asset purchases are ended. Trading was also slowed[/B] as the CPI report looms Thursday. The front end outperformed slightly as shorts covered, paring some of the selling from Friday. [B]Wall Street was mixed and rather directionless, despite earnings.[/B] After finding a small bid into the afternoon, the indexes slumped into the close. Oil drops on progress in US-Iran talks. [LIST] [*]USD ([B]USDIndex[/B] [B]95.61[/B]) steady. [*][B]US Yields[/B] 2-year rate slid 2 bps to [B]1.288%[/B] after having surged to test [B]1.32%[/B] on Friday. However, the 10-year was fractionally underwater and rose to [B]1.945%[/B], a new high since late 2019. [*][B]Equities[/B] – [B]USA500[/B] ( -0.37%) [B]4487[/B], [B]USA100[/B] (-0.58% )recovered to [B]14605[/B]. ([B]Meta[/B] shares fell more than 5%, [B]Peloton[/B] jumped over 20% on media reports of interest from potential buyers including [B]Amazon, Tyson Foods firmed on upbeat quarterly results, Nvidia rose 1.7% [/B],[B]Alibaba[/B] fell about 6% after it registered an additional 1 billion American depositary shares.) [B]JPN225 [/B]and ASX are up 1.1% and 0.1%. [B]GER40 and UK100[/B] futures are up 0.1% and 0.2%. [*][B]USOil[/B] – flattened around [B]$90.00 amid [/B]concerns over tight supply. [*][B]Gold[/B] – jumped to [B]$1823 [/B]above 20-day SMA. Gold rose 1.2% last week and posted its strongest weekly gain since November. Yields have been ebbing from overnight highs, while the USD is a little weaker, to provide some support to gold. Geopolitical risks are also underpinning. [*][B]Bitcoin extended to [/B] [B]$45,485.[/B] – Bitcoin and the Australian Dollar had posted gains as equity markets rallied in Europe. [*][B]FX markets[/B] – [B]EURUSD [/B]up to [B]1.1405, USDJPY [/B]up to [B]115.48 [/B]& [B]Cable[/B] to [B]1.3520 [/B] [/LIST] Overnight[B] – ASX [/B]outperforming, helped by a jump in iron ore prices, which boosted miners. Talk of more companies being added to the[B] list of companies that may[/B] [B]need extra permits to[URL='https://www.reuters.com/business/exclusive-us-calls-concrete-action-china-meet-phase-1-purchase-commitments-2022-02-07/'] buy from US entities[/URL][/B] weighed on th[B]e Hang Seng[/B] in particular and the index is currently down -0.99%. [B] [URL='https://www.eastwestbank.com/ReachFurther/en/News/Article/US-China-Market-Watch-Trade-Talks']WTO lets China[/URL] impose $645 million tariffs on US[/B]. [B]European Open[/B] – The March 10-year Bund future is down 8 ticks, slightly outperforming versus Treasury futures, as yields continue to rise in cash markets. Lagarde failed to push back against speculation of an early end to net asset purchases and swift start to rate hikes yesterday and Eurozone peripherals in particular are likely to continue to struggle. [B]Today [/B]– Today’s calendar is thin and should have no impact on expectations. The [B]December trade report [/B]is due. The earnings calendar features reports from Pfizer, BP, S&P, Fiserv, Thomson Reuters, Coinbase, Centene, KKR, Chipotle, DuPont, Sysco, Yum! Brands, Transdigm, Cenovus Energy, Warner Music, FleetCor, Incyte, and FMC. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/02/Screenshot-2022-02-08-093928.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/02/Screenshot-2022-02-08-093928.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NDZJPY (+0.46%) [/B]Rallied to [B]76.75[/B] retesting the 20 DMA for a 4th day. MAs aligned however started turning lower, MACD signal line & histogram levelling off but well over 0 line, RSI at 57 in a pullback. [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 [url=https://www.hotforex.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] 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 [url=https://www.hotforex.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hotforex.com/][b]Click HERE to READ more Market news.[/b][/url] [b] 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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