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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 209026, member: 32345"] [b]Date : 2nd June 2022. Market Update – June 2 – USD Ticks Higher, Stocks Slip Yields Firmer.[/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] moved higher ([B]USDIndex[/B] 102.43) [B]Stocks[/B] had a weak US session ([B]NASDAQ[/B] -0.72%) and [B]Yields rallied to 2.931%. [/B]Asian markets followed US lower ([B]Nikkei[/B] -0.16%, [B]Hang Seng [/B]-1.10%) with China closed today. European FUTS are lower (Italy, Spain & France closed & UK closed until Monday). Central bank outlooks and China’s virus lockdowns remain in focus (Shanghai open but zero policy still in place) amid concern that aggressive monetary policy tightening will weigh on growth outlook. BOC increased rates by 50bp & Bullard remained very hawkish, both expected. Oil prices bounced ahead of OPEC+ today – Saudi Arabia ready to boost output should Russian production fall. [LIST] [*][B]USDIndex[/B] rallied to 102.72 from 101.28 & one-month lows on Monday. Back to 102.40 now. [*][B]Equities[/B] – [B]USA500[/B] -31 (-[B]0.75%[/B]) at [B]4101[/B], US500FUTS at [B]4100 [/B]now. Walmart & Meta -2.49% (Sheryl Sandberg to leave Meta after 14 yrs as COO) [*][B]Yields[/B] 10-year yield higher ([B]2.931%[/B] at close), trades at [B]2.91%[/B] now. [*][B]Oil & Gold [/B]had mixed sessions – [B]USOil[/B] sank to $111.60 before correcting to $113 now following SA news ahead of OPEC+ meeting, [B]Gold[/B] rallied over $1850 to $1852 from $1830 yesterday. [*][B]Bitcoin slipped back [/B]under [B]$30K [/B]after 3-day move north. Trades at $29.8K now. [*][B]FX markets[/B] – [B]EURUSD [/B]down under 1.0700 again to 1.0670, [B]USDJPY [/B]breaks over [B]130.00, Cable[/B] trades at [B]1.2500, [/B]from [B]1.2450[/B] yesterday. [/LIST] [B]Overnight – [/B] [B]AUD[/B] Trade Balance significantly better than expected. [B]Today – ADP[/B] Employment, Weekly Claims, Weekly Oil Inventories, [B]OPEC+ Meeting,[/B] Speeches from Mester & NY Fed’s Logan. [URL='https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-02_10-41-01.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-02_10-41-01.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]USDCHF[/B] (-0.54%) A surprise spike in Swiss CPI puts pressure on SNB to act. Pair dived from 0.9640 to 0.9575. MAs aligning lower, MACD histogram negative & breaks 0 line, RSI 35 & falling, H1 ATR 0.0013, Daily ATR 0.0070. [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 HF 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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