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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 213543, member: 32345"] [B]Date : 29th September 2022. Market Update – September 29 – Sterling & Stocks drift as BoE boost fades.[/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] tumbled at 112.43 after the BoE’s actions ( worst session in 2.5 years). Today it found some ground edging towards 113.35, buoyed by renewed pressure on the pound. [*][B]Yields:[/B] UBoE’s announcement that it will buy up to GBP 5 bln a day for 13 days in a bid to stabilise markets bruised by the government’s mini-budget may have helped Gilts and wider bond markets to recover somewhat yesterday, but while Australia and New Zealand bonds rallied in catch up trade, yields are already rising again in Europe and the US. [B]Record surge in Gilts where the 30-year rate plunged an historic 105 bps to 3.913%[/B], unwinding the better than 130 bp selloff to a 5.135% high. The [B]10-year Gilt crashed 50 bps[/B], the most since [B]1992[/B], to 3.999%. [/LIST] [B]While intervention supported Gilts, Treasuries rallied on haven demand amid global investor jitters, bargain hunting, a solid 7-year auction, and a month-end bid.[/B] [LIST] [*][B]GBP[/B] remains volatile as BoE presses panic button. Sterling rallied on the BoE’s initial announcement of bond purchases, but [B]Cable[/B] has since settled at [B]1.08[/B] area as the rapid switch from scheduled asset sales to “temporary” bond purchases has not really helped to instil[B]l confidence in the currency.[/B] [*][B]EUR[/B] – returned to [B]0.9665[/B]. [*][B]JPY[/B] traded at [B]144.70[/B]. [*][B]Stocks:[/B] The 1.96% bounce to 3718 in the [B]US500[/B] snapped a six-day string of losses, the worst since February 2020, as the index climbed off of Tuesday’s 3647, a new 2022 low. Strength was broadbased with energy climbing over 4%. The [B]US100[/B] jumped 2.05% to 11,051, and the [B]US30[/B] rose 1.88% to 29,683. [*][B]USOil up to $81.[/B] [B]Goldman Sachs[/B] cut its 2023 oil price forecast, citing expectations of weaker demand and a stronger USD. [B]China’s travel[/B] during the upcoming week-long national holiday is set to hit the lowest level in years as Beijing’s persistent zero-COVID rules prompt people to stay at home and economic woes dampen spending. [B]Citi[/B] economists have lowered their [B]China GDP[/B] forecast from 5% year-on-year growth to 4.6% for the fourth quarter of 2022. [*][B]Gold[/B] – after some buying retreats to [B]$1647.[/B] [*][B]BTC – at 19375.[/B] [*][B]Today:[/B] German Inflation, ECB’s Panetta, de Guindos, Elderson and Lane speech, US GDP and Jobless claims. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-28_09-57-53-1.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-28_09-57-53-1.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]NZDUSD [/B](-1.05%) back to 0.5655. Intraday fast MAs aligning lower, MACD histogram & signal line are turnign to 0, RSI at 2342, H1 ATR 0.00173, Daily ATR 0.00953. [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. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- [B]Date : 30th September 2022. Market Update – September 30 – Quarter End.[/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] has dropped back to [B]112.00[/B], as bonds and stocks remained very jittery into quarter end, month end and week end. The US Q2 chain price indexes accelerated to 9.0% for the headline, and 4.7% for the core.[B] Credibility issues[/B] are keeping also buyers sidelined as the central banks are seen having waited too long to address rising price pressures, with worries now that [B]they are overdoing rate hikes[/B] and will push [B]the world into recession[/B]. [*][B]Yields:[/B] The German 10-year rate is down -3.2 bp in early trade, the US rate -4.1 bp. [*][B]UK PM Liz Truss[/B] will stick to her plan to reignite economic growth, breaking her silence after nearly a week of financial market chaos. [*][B]German Chancellor Olaf Scholz[/B] – set out $196 billion “defensive shield”, including a gas price brake and a cut in sales tax for the fuel, to protect companies and households from the impact of soaring energy prices. That came after the[B] 10.9% German Inflation[/B] figure for September. [*][URL='https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-30_10-17-36.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-30_10-17-36.jpg[/IMG][/URL] [*][B]Stocks were headed for their worst month! [/B]Nikkei still closed with a loss of -1.8%, the ASX was down -1.2% by end of trade while CSI 300 and Hang Seng are down -0.3% and up 0.1% respectively. However, markets seem to be finding a footing and European and US futures are mostly managing slight gains. [*][B]Japan’s factories[/B] ramped up output in August and [B]China’s factory[/B] activity returned to growth this month, data showed. [*][B]GBP[/B] – has lifted above [B]1.10[/B] [*][B]EUR[/B] – is at [B]0.98[/B]. [*][B]JPY –[/B] traded at [B]144.57[/B]. [*][B]USOil – steady at $81.[/B] [*][B]Gold[/B] – rebounded to [B]$1670.[/B] [*][B]BTC – steady at 19410[/B] [*][B]VIX[/B] index has been on the rise and hit 33.46 earlier, just shy of the 34.75 May high, though has yet to really test the 40 area last seen in late 2020. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-30_10-18-44.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/09/2022-09-30_10-18-44.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]USA100 [/B]back to 11333. Intraday fast MAs aligning higher, MACD histogram & signal line are turning higher but still in negative area, RSI at 54.76, H1 ATR 58.36, Daily ATR 354.98. [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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