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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 211548, member: 32345"] [b]Date : 8th August 2022. Market Update – August 8 – USD holds post NFP bid.[/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]held onto NFP inspired bid trades at [B]106.40, [/B]from 106.80. NFP big [B]beat[/B] across the board; headline more than double expectations at 528K, June revised 26K higher, Unemployment fell (3.5%) and Earnings rose (5.2%) = pressure back on Fed for 75bp hike in Sept. Recession – what Recession? [B]US Stocks [/B]slipped led by tech. [B]TSLA –[/B]6.6% (3-1 stock split 25/8), [B]TWTR[/B] +3.56%, [B]META –[/B]2.00%, [B]LYFT[/B] +16.8% ($1bn profit expected 2024), [B]AMZN[/B] -1.2% (to buy [B]iRobot[/B] $1.7bn) Asian markets mixed ([B]Hang Seng[/B] -1.02%, [B]Nikkei[/B] +0.29%). European FUTS also mixed. [B]Yields [/B]rallied (10yr 2.8287%) [B]Oil[/B] under $90, [B]Gold[/B] under $1770 and [B]BTC[/B] moved up to $23.5k. [B]Berkshire Hathaway[/B] posted $43.8 bn loss on stock market declines. [B]MUSK[/B] wants [B]TWTR[/B] deal to go ahead if they can prove the % of real accounts, wants public debate with TWTR CEO. FED’s [B]Bowman[/B] expects “more 75bp hikes”. [B]CFTC[/B] Net Longs in USD[B] reduced[/B] last week. [B]Chinese[/B] exports hit record 5- mth high Trade balance back over $101 bn. [B]Biden [/B]gets his $430bn Climate, Healthcare & Tax Bill through the Senate, [B]China[/B] [B]continues[/B] exercises around Taiwan for 5th day. [B]Week Ahead[/B] – Highlight will be [B]US CPI[/B] on Wednesday which is expected to decline to 0.2% m/m and [B]8.7%[/B] y/y. [LIST] [*][B]USDIndex[/B] rallied to 106.80 post NFP holds at 106.45 now. [B]YEN[/B] underperformed in Asian session. [*][B]Equities[/B] – [B]USA500[/B] closed lower -6.75 pts (+-0.16%) ([B]4145)[/B], US500FUTS at [B]4150 [/B]now. [I]4175 key resistance remains. [/I][B]S&P500[/B] gained +0.4% for the week, [B]NASDAQ[/B] +2.2%. [*][B]Yields[/B] 10-year yield rallied into close. [B]The 2/10yr. yield curve is now 40bp[/B] inverted. 30yr back over 3.00%. [*][B]Oil – [/B]declined to $86.96 Friday back to $89.60 now and remains under $90.00. [*][B]Gold – [/B]topped at $1794 (50 day MA) in early Friday trades before tanking to under $1770. Trades at $1775 now, 20-day MA $1757. [*][B]Bitcoin [/B]dipped to $22.7K Friday, before strong weekend rally, trades at $23.7k now. [*][B]FX Markets[/B] – [B]EURUSD [/B]down to [B]1.0177[/B], [B]USDJPY [/B]rallied 1.57% on Friday – trades at [B]135.50[/B] now. [B]Cable[/B] tested to important [B]1.2000[/B] zone on Friday – recovered to 1.2080 now. [/LIST] Overnight[B] – JPY [/B]Bank Lending better than expected, but Econ. Sentiment sank to 43.8 from 52.9. [B]NZD [/B]Inflation Expectations slipped to 3.07% from 3.29% & [B]CHF[/B] Unemployment in-line at 2.2%. [B]Today – [/B]EZ Sentix Investor Confidence, [B]Earnings[/B] from BioNTech, Barrick Gold, Porsche & Siemens Energy. [URL='https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-08_09-41-43.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-08_09-41-43.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDJPY [/B]([B]+0.68%[/B]). Bounced from 92.50 support on Friday to test key resistance and 7-day high today at 94.00. MAs aligned higher, MACD histogram positive and signal line rising, RSI 69.44 rising & testing OB, H1 ATR 0.192, Daily ATR 1.218. [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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