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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 206447, member: 32345"] [B]Date : 30th March 2022. Market Update – March 30 – USD Dips, Stocks Rally, Yen Recovers.[/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]USD & Yields dipped[/B] and[B] Stocks & Euro [/B]rallied ([B]NASDAQ[/B] [B]1.84%[/B]) following Russia-Ukraine negotiations. US data (Case-Schiller Housing Index, JOLTS & Consumer Confidence) all stronger than expected adding to high inflation and tight jobs market scenario. [B]Yen[/B] recovered on chatter of BOJ intervention, and [B]Oil[/B] & [B]Gold[/B] dipped before recovering. The [B]yield curve[/B] extended it’s [B]inversion[/B] as 10-yr yields dipped under 2.0% before lifting. Asian markets followed US higher (Nikkei & ASX [B]+1.0%,[/B] Shanghai [B]1.51%).[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2022/03/2022-03-30_09-44-50.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/03/2022-03-30_09-44-50.png[/IMG][/URL] [B]Overnight [/B] – [B]JPY[/B] Retail Sales missed (-0.8%% vs -0.3% & 1.1%) [B]German [/B]regional CPI coming in hotter than expected (i.e. North Rhine Westphalia March CPI [B]+7.6%[/B] vs +5.3%). [LIST] [*]USD ([B]USDIndex[/B] [B]98.16[/B]). Dipped further to 98.00 zone before recovering. [*][B]US Yields[/B] 10-yr closed at [B]2.40%[/B] and under 2.0% overnight, now back to [B]2.36%[/B] [*][B]Equities[/B] – [B]USA500[/B] +56.01 ([B]+1.23%[/B]) [B]4631. [/B]US500 FUTS [B]4572 [/B]now. [B]APPLE[/B] rose for an 11th consecutive day ([B]+1.91%[/B]), [B]HOOD[/B] up over [B]+24%[/B] following [B]AMC[/B] rally ([B]+45%[/B]) the day before and [B]GME [/B]dropped[B] -5.11% [/B]45% as the [B]meme stocks raised their heads again[/B]. [*][B]USOil[/B] – Fell again (over 1.0%) to [B]$98.65[/B] yesterday, but has recovered to [B]$107.00[/B]. [B] [/B] [*][B]Gold[/B] – slipped to [B]$1890[/B] yesterday from Friday’s close at $1955. Back to [B]$1925[/B] now. [*][B]Bitcoin[/B] holds onto gains over 45K to top at 48.1K, yesterday, back to[B] 47.4k [/B]now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to test [B]1.1136 [/B]now after [B]1.0950[/B] test Monday, [B]USDJPY [/B]over [B]125.00 [/B]& new 7-yr highs Monday back to [B]122.00[/B] now as JP Government signals worries over weak Yen. [B]Cable[/B] back to [B]1.3120 [/B]now. [/LIST] [B]European Open [/B]– The June 10-year Bund future is up 43 ticks, US futures are also higher, [B]DAX and FTSE 100[/B] futures are down [B]-0.1% [/B]and up[B] 0.1%[/B] respectively, as the initial euphoria over the positive headlines on the progress of Russia-Ukraine peace talks has faded. It still seems a long way to a final agreement and oil prices have backed up from lows under [B]$100[/B] seen in the wake of the initial headlines on the talks yesterday. Meanwhile concern that aggressive central bank action will sap the recovery is lingering. The [B]2-10 year part[/B] of the U.S. Treasury curve [B]inverted[/B] yesterday for the first time since 2019, but while the 2-year has dropped back again since, 3 and 5 year rates are still holding above the 10 year. ECB chief economist [B]Lane[/B] was out yesterday repeating that a rate hike in Q4 is not cast in stone and that rate moves will be data dependent. [B]Today [/B]– German [B]CPI[/B] Prelim, US [B]ADP[/B] & [B]GDP[/B] (Final/Q4), Speeches from Fed’s Barkin, Bostic & George, ECB’s [B]Lagarde[/B], BoE’s Broadbent [URL='https://analysis.hotforex.com/wp-content/uploads/2022/03/2022-03-30_08-50-21.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/03/2022-03-30_08-50-21.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]USDJPY (-0.76%) [/B]Fear of BOJ intervention lifted YEN pairs. Next support 121.00 MAs turned lower, MACD signal line & histogram now below 0 line and cooling, RSI 36, H1 ATR 0.310, Daily ATR 1.31. [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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