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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 208089, member: 32345"] [b]Date : 10th May 2022. Market Update – May 10 – Stocks Stabilize After Huge Risk-Off Monday.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG][/URL] [B]USD[/B] cools from recent highs, [B]Stocks[/B] stall their decline after Monday rout ([B]NASDAQ -4.29%[/B]), [B]Yields[/B] hold at highs with 10-yr over [B]3.00%.[/B] [B]Gold[/B] and [B]Oil[/B] both slumped as risk-off rattled markets CB tightening and rising inflation fears continuing to spook sentiment. Asian markets weaker ([B]Nikkei -1.00%[/B]) and European Futures all weaker. [URL='https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-10_09-26-57.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-10_09-26-57.png[/IMG][/URL] [URL='https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-10_09-28-01.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-10_09-28-01.png[/IMG][/URL] [LIST] [*][B]USDIndex[/B] tested new at highs at [B]104.20[/B] yesterday back to 103.60 now. [*][B]Equities[/B] – [B]USA500[/B] -132 ([B]-3.20%[/B]) at 3991, first close below 4k since March 2021. US500FUTS at [B]4022 [/B]now. [*][B]Yields[/B] moved higher, 10-yr closed at [B]3.079%, [/B]holding key [B]3.00% [/B]level. Trades at 3.054% now [*][B]Oil & Gold [/B]both had weak & volatile session – [B]USOil[/B] tested down to [B]$100.00 [/B]before reversing to [B]$102.20[/B] now from opening trades over [B]$109.00[/B]. [B]Gold[/B] slumped from [B]$1885 [/B]zone to [B]$1850 [/B]yesterday and struggles at [B]$1860[/B] now. [*][B]Bitcoin[/B] crashed through [B]$30K [/B]struggling with $32K now. [*][B]FX markets[/B] – [B]EURUSD [/B]up from 1.0500 to [B]1.0560, USDJPY [/B]holds over [B]130.00, [/B]at [B] 130.40 and Cable[/B] continues to struggle – [B]1.2260 [/B]lows were tested yesterday, back to [B]1.2325. [/B] [B] [/B] [/LIST] [B]Overnight [/B]Fed’s [B]Kashkari[/B] : Reiterates confidence that inflation will return to Fed’s 2.0% target & Fed’s [B]Bostic:[/B] 50 bps hike was an aggressive move, Fed can stay at that pace, 75 bps rate hike is low probability. [B]Today – German ZEW,[/B] Speeches from Fed’s Williams, Waller, Bostic, Barkin, Kashkari, Mester, ECB’s de Guindos & BoE’s Saunders, Earnings from Bayer, Porsche, Norwegian Cruise Line & Warner Music. [URL='https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-10_09-50-45.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-10_09-50-45.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDJPY[/B] (+0.35%) Rallied from lows at 89.70 to over 91.20 highs (resistance) today. MAs aligning higher, MACD signal line & histogram moving higher but remain weak, RSI 44, but rising, H1 ATR 0.33, Daily ATR 1.60. [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 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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