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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 206952, member: 32345"] [B]Date : 12th April 2022. Market Update – April 12 – Yields & USD Drive On, Stocks, JPY & EUR Lower.[/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]Yields [/B]remain bid, supporting [B]USD[/B] as [B]Stocks[/B] sink. [B]JPY[/B] & [B]EUR[/B] remain weak.[B] Oil[/B] recovers, [B]Gold[/B] holds gains. – [LIST] [*][B]Stocks[/B] tanked (NASDAQ worst again [B]-2.18%[/B]) Weak in Asia (Nikkei [B]-1.72%[/B]) & UK & European FUTS. lower ([B]0.2 to 0.6%[/B]). [*][B]Yields[/B] rally as curve steepens – US 10-yr now at [B]2.824%[/B]. [*][B]EUR[/B] fell again after minor rally following French Election result. USD bid elsewhere. [*][B]USD[/B] bid especially vs. weaker [B]JPY[/B] (over 125.50 ), AUD, CAD & NZD. [*][B]Oil [/B]recovered from key support, up over $4/barrel as Shanghai eases some lockdowns. [/LIST] [B]Biden[/B] told [B]Modi[/B] that buying Russian oil is not in India’s “interest” & will help. [B]Macron & Le Pen[/B] go on Election Blitz, [B]Morrisson[/B] kicks off Australian Election campaign. [B] Austrian PM[/B] meets [B]Putin[/B] for 90 mins. New populist PM in [B]Pakistan[/B] raises the min. wage. [B]Zelenskiy[/B] says tens of thousands have died in Mariupol. [B]Overnight [/B]– [B]JPY [/B]PPI inflation beats – [B]9.5% [/B]vs. 9.2% & 9.7% previously. In line [B]UK [/B]Wages & Unemployment with Claims lower. [B]AUD [/B]big boost for Business Confidence ([B]16[/B] vs 13) and [B]German[/B] HICP at [B]7.6%[/B], levels last seen in the early 1980s. [LIST] [*][B]USDIndex[/B] rallied to test new high [B]100.17[/B] , trades at 100.12 now. [*][B]US Yields[/B] 10-yr closed higher again at [B]2.78[/B], up again now to [B]2.824%.[/B] [*][B]Equities[/B] – [B]USA500[/B] -75.75 (-1.69[B]%[/B]) at [B]4412. – [/B] US500 FUTS [B]4393. [/B]Technology stocks & Consumer Discretionary led decline, TSLA -4.85%, NVDA -5.2% AT&T +7.46% [*][B]USOil[/B] – Trades at [B]$97.30 [/B]following a dip to $93.00[B], [/B]Shanghai eases some lockdowns. [*][B]Gold[/B] – gyrated from $1969 to $1940, yesterday , back to [B]$1958 [/B]now. [*][B]Bitcoin[/B] continued to decline from key 45k to trade at [B]39.88k [/B]now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to test [B]1.0860[/B] now from 1.0935 yesterday. [B]USDJPY [/B]breaks key 125.50 to trade at [B]125.75[/B] and [B]Cable[/B] sinks back to test [B]1.3010 [/B]as USD bid continues. [/LIST] [B]European Open [/B]– The German 10-year Bund yield is up 1.5 bp at 0.82%, the 10-year Gilt rate has lifted 1.7 bp at1.86% in opening trade, alongside a 3.3 bp rise in the U.S. Treasury yield. Eurozone spreads, which narrowed yesterday, are mostly wider this morning, especially at the short end, and the US curve has flattened slightly, as the short end underperforms ahead of key US inflation data. Markets are nervous that a higher than expected figure could prompt the Fed to head for an even more aggressive tightening cycle than currently expected and in Europe, the high German inflation reading is putting pressure on the ECB ahead of Thursday’s meeting. [B]Today [/B]– US [B]CPI[/B], (1.2% m/m 8.4% y/y) – but watch the CORE figures for any sign of actual weakness. Speeches from Fed’s Barkin & Brainard. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/04/2022-04-12_10-47-24.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/04/2022-04-12_10-47-24.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]AUDCHF (+0.47%) [/B]Recovering from 4-day decline to below [B]0.6900[/B] at 0.6893 earlier to [B]0.6935 [/B]now[B]. [/B]Next resistance 0.6950 & 0.6970. MAs aligned higher, MACD signal line & histogram moving higher but below 0, RSI 56.50 & rising, H1 ATR 0.00105, Daily ATR 0.00685. [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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