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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 212367, member: 32345"] [b]Date : 31st August 2022. Market Update – August 31 – Stocks & Oil Tank, Yields Rally.[/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] [LIST] [*][B]USDIndex – [/B]remains capped at 109.00 with support at 108.20 today. Tight [B]JOLTS[/B] report adds to pressure for 75 bp next month; Fed Fund Futures now sit at 68.5%. 2yr yields traded to 15 yr highs. [B]AUD[/B] outperformed overnight. [*][B]EUR[/B] – [B]German Inflation[/B] at near 50-yr highs, pressures [B]ECB[/B] action and lifts EUR to 1.0033 [*][B]JPY[/B] holds between 139.00 & 138.00 having breached 138.00 Monday. [*][B]GBP [/B]hit pandemic era lows (March 2020) yesterday at 1.1620. Recovered to 1.1675 now. [*][B]Stocks[/B] US stocks weak again ([B]S&P500 [/B]-44.00pts (-1.10%)[B] 3986). [/B]Under 4k & 24-day low & under 50-day MA. [B]Energy[/B] & [B]Tech[/B] stocks led the decline. Futs. 4014 now. [*][B]Oil[/B] lost over 5% yesterday but has recovered; [B]API inventories[/B] better than expected. Touched $90.50 yesterday up to $92.50 now. [*][B]Gold[/B] – crashed from resistance at $1736 and trades at support ($1724[B]) now.[/B] [*][B]BTC – [/B]tested Monday’s 33-day low ($19.5k) again yesterday, back over 20k now at 20.3k. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-31_08-51-05.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-31_08-51-05.jpg[/IMG][/URL] [B]Overnight – [/B]Asian equity markets squeezed lower following weak Wall Street, European FUTS tick higher. [B]NZD[/B] Strong Building Permits [B]JPY[/B] [U]Retail data [/U]also better than expected [B]CNY [/B]PMI data beat but weaker than last month. Manufacturing (49.4) remains in contraction. [B]German[/B] Import Prices and [B]French[/B] CPI (m/m) weaker than expected. (1.4% & 0.4% respectively). [URL='https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-31_09-35-37.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-31_09-35-37.jpg[/IMG][/URL] [B]Today –[/B] German Import Prices & Unemployment, EZ CPI, Canadian GDP, US ADP & Chicago PMI, Speeches from Fed’s Mester & Bostic. [URL='https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-31_09-45-45.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/08/2022-08-31_09-45-45.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDUSD [/B](+[B]0.68%[/B]). Remains volatile, (100+ pip mover yesterday). Latest move; a rally from 0.6850 support to trade at 0.6900 resistance. MAs aligning higher, MACD histogram negative but signal line rising, RSI 56.00, H1 ATR 0.00128, Daily ATR 0.00823. [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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