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Daily Market Analysis from Hotforex Broker
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[QUOTE="HFM, post: 208200, member: 32345"] [B]Date : 12th May 2022. Market Update – May 12 – Tech Trounced as Inflation Possibly Peaks.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1-696x391.jpg[/IMG][/URL] [B]USD[/B] rallies to new highs following much volatility after [B]US CPI data [/B]for April was lower than March but higher than expected, rekindling concern that aggressive central bank action will weigh on growth. [B]Stocks[/B] sharply into the red, [B]Yields[/B] spiked sharply higher as talk of Treasury rout also cools with 10-yr back under [B]3.00%.[/B] [B]Oil[/B] jumped after Russia sanctioned 31 companies & on recession fears. [B]Gold[/B] slightly up, but holds below [B]$1860. Bitcoin[/B] tumbled to new 16-month low. [B]UK economy shrinks[/B] in March, grows 0.8% in Q1. Nomura estimated this week that 41 Chinese cities are in full or partial lockdowns, making up 30% of the country’s GDP. [B]Reuters[/B]: [I]“Property developer Sunac China missed a bond interest payment and will miss more as China’s real estate sector remains in the grip of a credit crunch.” [/I][B]New Zealand [/B]inflation survey steady. [LIST] [*][B]USDIndex[/B] spiked to [B]104.20[/B] & holds its bid trading at [B]104[/B] now. [*][B]Equities[/B] – [B]USA500 [/B]slid below the [B]4000[/B] level before bouncing back, into the green with the [B]USA30.[/B] But all of the indexes crashed into the close, paced by the [B]USA100’s -3.18% [/B]plunge. [B]Nikkei[/B] dropped [B]1.8[/B]%, the [B]ASX[/B] also[B] -1.8%.[/B] [*][B]Yields [/B]had jumped to 2.839% and 3.07%, respectively, in the immediate aftermath of the data. 10-year rate closed 6.5 bps lower at [B]2.920%,[/B] with the 2-year up 3 bps to [B]2.64%.[/B] [*][B]Oil b[/B]reached [B]$106.23 [/B]before reversing to [B]$103.46[/B] (PP of the day). [*][B]Bitcoin [/B]fire-sale of risky assets as rate hikes gather steam, fell 7% to [B]$26,673[/B]. [*][B]FX markets[/B] – [B]EURUSD [/B]down to [B]1.0489, USDJPY [/B]drifted further on EU open to [B]129.25[/B], & [B]Cable[/B] retests [B]1.2210. AUD[/B] & [B]NZD[/B] at 2 year lows. [/LIST] [B]Today – US PPI & Initial Claims[/B], Speeches from BOC Gravelle. [URL='https://analysis.hfm.com/wp-content/uploads/2022/05/Capture.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/05/Capture.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]ETHUSD [/B](-12.47%) Down to June 2021 low, at 1787. MAs aligning lower, MACD signal line & histogram extend lower, RSI 27 OS, H1 ATR 90.59, Daily ATR 236.65. [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]Andria Pichidi Market Analyst HFMarkets 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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