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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 213579, member: 32345"] [B]Date : 3rd October 2022. Market Update – October 3 – New Week, Month & Quarter.[/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]Holds Friday’s range at [B]111.80. [/B]Dollar remains in demand following a weak 3rd quarter, HOT CORE CPE inflation on Friday and an emergency FOMC meeting behind closed doors today. Asian stock markets struggle in key Holiday week, risk appetite remains fragile ahead of more rate hikes and US jobs on Friday. The [B]JPY[/B] underperforms in the Asian session. [*][B]EUR[/B] – Trades at 0.9820 now, capped by an 8-day high at 0.9900 but off last weeks 0.9550 low. Alternative gas supplies began to flow over weekend for Greece, Bulgaria & Poland. [*][B]JPY[/B] – Remains weighed as [B]145.00[/B] is tested once more. Fin. Min. [B]Suzuki – [/B]Japan stands ready for[B] “decisive”[/B] steps in the foreign exchange market if excessive Yen moves persist. [*][B]GBP – [/B]Continued to recover following mini-budget inspired collapse last week. Capped at [B]1.1200 [/B]so far today ahead of Fin Min Kwarteng’s speech. Rumours swirl of U-turns on tax cuts. [*][B]Stocks[/B] US stocks moved lower again on Friday remain pressured. Third consecutive Quarterly fall, largest percentage fall for Q3 in the S&P500 in 20 years, 3rd consecutive week lower and 2nd consecutive month lower. The first 9-months of 2022 has been the worst since 2008. [B]APPL,[/B] [B]MSFT[/B] led tech lower on Friday, biggest losers [B]Nike[/B] -12.8% & [B]Carnival[/B] -23.3% both following warnings regarding margins due to inflation. Q3 Earnings now expected to be +4.5% down from 11.1% on July 1. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2022/10/2022-10-03_08-43-56.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/10/2022-10-03_08-43-56.jpg[/IMG][/URL] [LIST] [*][B]USOil[/B] rallied over 3% to test $82.00 after weekend reports of OPEC+ cutting production “up to 1.5 million barrels per day”. [*][B]Gold[/B] – holds at $1665 but remains capped at $1675. [*][B]BTC – [/B]rejected $20.0k on Friday and trades at $19.2k now. [/LIST] [B]Today [/B]EZ, UK & US Final Manufacturing PMI, [B]US ISM Manufacturing[/B], Speeches from Fed’s Bostic, Barkin, George & Williams, BoE’s Mann & UK Chancellor Kwarteng. [U]Week Ahead [/U][B]– [/B]US Services, RBA & RBNZ Rate decisions, ADP & CAD & US (NFP) Jobs. [URL='https://analysis.hfm.com/wp-content/uploads/2022/10/2022-10-03_08-48-13.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/10/2022-10-03_08-48-13.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]NZDJPY [/B](+0.82%) Rallied from Friday’s collapse from 83.00 to 81.00, to test 82.00 today. MAs now aligning higher, MACD histogram & signal line negative but rising, RSI 52.05 & rising, H1 ATR 0.253, Daily ATR 1.233. [B][URL='https://analysis.hfm.com/wp-content/uploads/2022/10/2022-10-03_08-50-43.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/10/2022-10-03_08-50-43.jpg[/IMG][/URL] 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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