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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 210458, member: 32345"] [b]Date : 11th July 2022. Market Update – July 11 – Stocks pressured, USD gains.[/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]The NFP report was slightly disappointing overall[/B] (372k June payroll gain & -74k in downward revisions). USD & Yields spiked, with USDIndex [B]107.59[/B]. [B]Fed funds futures are dropping[/B] as the jobs report gives no reason for the FOMC to slow its policy trajectory, keeping a [B]75 bp hike at the July 26-27 FOMC intact[/B] and 50 bp move at the September 20-21 meeting. [B]Stocks remain under pressure.[/B] Asian stocks struggled further overnight, with China bourses once again hit by lockdown concerns. Chinese CPI hotter at 2.5% vs 2.1%, but PPI cooler 6.15 vs 6.4%. COT report shows long positions on USD were reduced. [B]China[/B] discovered its first case of a highly transmissible Omicron subvariant in Shanghai and that new cases jumped to 63 in the country’s largest city from 52 a day earlier. [LIST] [*][B]USDIndex[/B] is heading for a new 20 year high – eased a bit at [B]107.23[/B]. [*][B]Yields[/B]: The 2-year rate is up over 3.119%, 3-year at 3.165% & 10-year higher at 3.095%. [*][B]Stocks[/B] : [B]USA30[/B] was down -0.15%, while the [B]USA500[/B] was off -0.08%. The [B]USA100[/B] rose 0.12%. In Europe, the picture is not much better and [B]GER40[/B] and [B]UK100[/B] futures are down -1.4% and -1.0%. [URL='https://www.bbc.com/news/business-62102821'][B]Twitter[/B][/URL] fell 5% (with more to come) after MUSK withdrew the $44bln offer. The market mood will be tested by earnings from [B]JPMorgan and Morgan Stanley[/B] on Thursday, with [B]Citigroup[/B] and [B]Wells[/B] [B]Fargo[/B] the day after. [*][B]Oil[/B] prices fell slightly today reversing some gains amid lockdown fear in China, i.e. concerns about tight supply. USOIL at $102.96 – New mass COVID testing in China potentially hitting demand. [*][B]Gold[/B] steady for a 3rd day at $1,732-$1,750. [*][B]FX Markets: USDJPY at 137.26 – 24-year high. [/B]Japan’s ruling conservative coalition’s strong election showing indicated [B][U]no change to lose monetary policies[/U][/B]. [/LIST] [B]Today – [/B]Fed’s Williams speech. [URL='https://analysis.hfm.com/wp-content/uploads/2022/07/2022-07-11_10-54-46.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/07/2022-07-11_10-54-46.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]EURUSD [/B](–[B]0.62%[/B]) down to 1.0105. MAs aligning lower, MACD histogram negative & declining, RSI 31, H1 ATR 0.0014, Daily ATR 0.01032. [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.hfm.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] to access the full HFM 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.hfm.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hfm.com/][b]Click HERE to READ more Market news.[/b][/url] [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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