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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 211369, member: 32345"] [b]Date : 2nd August 2022. Market Update – August 2 – Pelosi Taiwan Visit Saps Sentiment.[/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]USDIndex [/B]sinks again to [B]105.00, [/B]dragged lower by falling [B]Yields [/B](10yr -2.88% to 2.54%). [B]US Stocks [/B]lower following record July[B]. HSBC [/B]+6.5% [B]Boeing [/B]+5.96% [B]Pearson[/B] +12.66%[B] BBBY [/B]+14.77%. Asian markets pressured lower by [B]Pelosi’s[/B] proposed visit to [B]Taiwan[/B] and [B]China[/B] promising [I]“countermeasures”[/I] including “[I]military actions”.[/I] ([B]Hang Seng[/B] -2.68%, [B]Nikkei[/B] -1.44%). European FUTS also lower. (-0.6%). [B]Oil[/B] tanks under $93, [B]Gold[/B] spiked to $1780 and [B]BTC[/B] down under $23k. [B]RBA[/B] raised rates 50bp, as expected, (3rd consecutive month & fastest rate hike cycle since 1994) – BUT [B]cooled forward guidance – [/B]will raise rates in months ahead, but [B]“not on a pre-set path”[/B] [B]#AUDUSD[/B] falls from 0.7030, to 0.6950, [B]#AUDJPY[/B] -1.66%. [B]Biden [/B]announces US have killed head of Al-Qaeda, Zawahiri in Kabul drone strike. [LIST] [*][B]USDIndex[/B] weakens further to test under 105.00 now. [B]YEN[/B] & [B]CHF[/B] outperform again in Asian session. [*][B]Equities[/B] – [B]USA500[/B] closed lower -11.66pts (-0.28%) ([B]4118)[/B], US500FUTS at [B]4100 [/B]now. [I] 4175 remains next key resistance [/I] [*][B]Yields[/B] 10-year yield dived into close 2.60%, down again to 2.54% now. [*][B]Oil – [/B]tanked to $93.00 from $101.80 highs on Friday. [*][B]Gold –[/B] spiked to $1780 before cooling to $1773 now. Support at $1770 & $1766. [*][B]Bitcoin [/B]also weaker trades at $22.8K now, from as high as $24.4K. [*][B]FX Markets[/B] – [B]EURUSD [/B]rallied to test 1.0300 zone, [B]USDJPY [/B]dived under 131.00 to 130.40 lows. Cable holds over 1.2200 and tests key 1.2260 resistance area. [/LIST] Overnight[B] – AUD [/B]Building Approvals better than expected (-0.7% vs. -5.3%), Commodity prices lower (14.1% vs. 24.3%) [B]UK[/B] House inflation a tick lower at 0.1% m/m. [B]Today – [/B]Canadian Manufacturing PMI, New Zealand Unemployment, US [B]JOLTS[/B] Report, Speeches from Fed’s [B]Bullard, Evans & Mester[/B]. [B]Earnings BP[/B] (out – EPS exceed by +26%, profits a monster £6.95bn), [B]CAT[/B], UBER, AirBnB, [B]AMD[/B], PayPal, Starbucks, Gilead, Marriott. [URL='https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-02_09-51-17.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-02_09-51-17.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDJPY [/B]([B]-1.66%[/B]). Dovish RBA and Taiwan tensions hit the key most risk sensitive pair. Collapses from 92.500 to 90.75 lows. MAs aligned lower, MACD histogram negative & falling, RSI 22.5, OS & falling, H1 ATR 0.294, Daily ATR 1.198. [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] 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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