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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 205343, member: 32345"] [b]Date : 2nd March 2022. Market Update – March 2 – Risk-Off Returns.[/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] [B]Risk Off [/B]mood returned as stock markets dived and safe havens from the [B]USD[/B] to [B]US Treasuries[/B] rallied. [B]Oil[/B] & [B]GOLD[/B] markets surged, [B]Brent[/B] hit [B]$110[/B]/barrel & Gold hit [B]$1950[/B]/ounce. More Western companies (Apple, Ford & Boeing,) pull investments from Russia & US banned Russian airlines from its airspace. However, Russian Oil, Gas & Uranium exports all remain open. Asian markets moved lower (Nikkei -1.3%). [B] Biden [/B]SOU speech warns [B]“[/B]we are coming fro your ill-gotten gains” and [B]off-script[/B] says that Putin “has no idea what’s coming” [B]Overnight [/B]– [B]AUD[/B] GDP missed (3.4% vs 3.5%), [B]JPY[/B] Capital Spending was higher and [B]UK[/B] House Price Inflation jumped to 1.7% form 0.6%. [LIST] [*]USD ([B]USDIndex[/B] [B]97.60[/B]). Rallied through 97.00 most of yesterday. 97.75 next resistance. [*][B]US Yields[/B] 10-yr lower again closed at 1.73, 3 ticks lower to 1.707% now. [*][B]Equities[/B] – USA500 -67pts (-1.55%) [B]4306. [/B] US500 FUTS down at [B]4288[/B] now. [*][B]USOil[/B] – Rallied from support at $94.00, yesterday, up to [B]$107.55[/B] now. [*][B]Gold[/B] – Rallied from [B]$1905 [/B]now, trades at $1948. [*][B]Bitcoin[/B] rallied over key 40 & 42K levels to trade at $43,800. [*][B]FX markets[/B] – [B]EURUSD [/B]back under [B]1.1100, USDJPY [/B]holds [B]115.15 [/B]and [B]Cable[/B] down to [B]1.3280 [/B]now. [/LIST] [B]European Open [/B]– The March 10-year Bund future is up 36 ticks at 170.66, while U.S. futures are slightly lower. , although in cash markets the U.S. 10-year rate is down -2.0 bp at 1.707%. Investors are pricing out excessive rate hike bets and in the Eurozone the 10-year Bund yield closed at -0.80% yesterday, with negative rates not expected to go away any time soon. For today, investors are likely to remain extremely nervous, although the [B]-0.7%[/B] decline in the [B]DAX[/B] future looks modest compared to yesterday’s correction and the [B]FTSE 100[/B] future is actually up [B]0.1%. Today [/B]– German Unemployment, EZ CPI, [B]US ADP,[/B] [B]BoC Policy Announcement[/B], OPEC+, Ukraine-Russia Meeting (Time TBC), Speeches from Fed’s [B]Powell[/B], Bullard & Evans, ECB’s Lane, Schnabel, de Guindos & Nagel. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/03/2022-03-02_10-36-54.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/03/2022-03-02_10-36-54.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]GBPCAD (-0.36%) [/B]6-day collapse from [B]1.7345 [/B]continues down to [B]1.6915[/B] now. MAs aligned lower, MACD signal line & histogram below 0 line, RSI 30 & falling, OB zone, H1 ATR 0.139, Daily ATR 0.9450. [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] 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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