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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 209235, member: 32345"] [b]Date : 7th June 2022. Market Update – June 7 – RBA Surprises, Yields Rocket, Yen Dives.[/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] 102.78), [B]Stocks[/B] also higher into close ([B]NASDAQ[/B] 0.40%) but Futures rocked (-0.60%) by a surprise 50 bps hike from the [B]RBA[/B] (25-40 bp expected) and noises that there will be more to come. [B]Yields [/B]rallied (US 10yr over 3.00%), Asian markets have mostly slipped, ([B]Nikkei[/B] +0.10%) and [B]YEN[/B] has tanked ([B]USDJPY[/B] at new 20-year high). UK PM Johnson survives no confidence vote (211 vs 118) 41.2% of his own MPs want him out UK Gilts rally GBP sinks. Oil slips but holds on to gains, Gold pressured by rising yields. [LIST] [*][B]USDIndex[/B] rallied to 102.82 ahead of ECB on Thursday & US CPI on Friday. [*][B]Equities[/B] – [B]USA500[/B] -12 (-0.31[B]%[/B]) at [B]4121[/B], US500FUTS at [B]4096 [/B]now. More worries, following aggressive RBA, [B]TWTR[/B] -1.5% after [B]MUSK[/B] suggested he could walk away from the deal, [B]AMZN[/B] +2% after 20 for 1 stock split. [B]DIDI[/B] +23% & [B]BABA[/B] +6%, Chinese regulators are reported to have concluded DIDI investigation. [*][B]Yields[/B] 10-year yield higher (2.987% at close), trades at [B]3.064%[/B] now. [*][B]Oil & Gold [/B]had weaker sessions – [B]USOil[/B] slipped from $120.00 handle to $119.36, [B]Gold[/B] sank as Yields rallied from over $1858 to $1840 now. [*][B]Bitcoin [/B]rally over $30K was short lived, from $31.8K yesterday to trade at $29.4K now. [*][B]FX markets[/B] – [B]EURUSD [/B]at 1.0680, under 1.0700 again, [B]USDJPY [/B]tested[B] 133.00 [/B]zone and holds [B]132.60, Cable[/B] trades down at 1.2430,following political upheaval in UK.[B] [/B] [/LIST] [B]Overnight – [/B] Mixed data from [B]Japan,[/B] Weak [B]UK[/B] Housing data and [B]German[/B] factory orders missed significantly (-2.7% vs -0.4%) [B]Today – [/B]UK Composite/Services PMI (Final), Canadian Trade Balance [URL='https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-07_09-57-29.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-07_09-57-29.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]USDJPY[/B] (+0.67%). Rallies to new 20-yr highs and within a smidge of 133.00 from sub 130.00 on Friday. Next key resistance 134.00 form the Weekly Chart. MAs aligning higher, MACD histogram positive, RSI 77, OB & rising, H1 ATR 0.233, Daily ATR 1.18. [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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