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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 214770, member: 32345"] [b]Date : 8th November 2022. Market Update – November 8 – US Midterms Election Day.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1-696x391.jpg[/IMG][/URL] [LIST] [*]The [B]USD Index[/B] slipped further to test 110.00 yesterday, a -2.65% decline from Thursday’s high at 113.00, trades at 110.25 today. [B]Stocks[/B] rallied another +1.00%, [B]Yields [/B]moved higher again (10-yr 4.163%) and the [B]Commodity Complex[/B] cooled from Fridays rally as Beijing reaffirmed its strict pandemic rules. Overnight the [B]Crypto Complex[/B] has tanked with [B]BTCUSD[/B] down from $21k to under $19.5k. [/LIST] Markets are pricing in a “lame-duck” President [B]Biden[/B] for the final 2-yrs of his administration as Republicans are likely to take control of the House of Representatives, with likely curbs on the debt ceiling, spending cuts and action to support energy companies, as inflation bites into businesses and households. A loss of the Senate too for President Biden would completely restrict any political actions regarding immigration, additional support for Ukraine and environmental policies. [B]TRUMP[/B] “Big announcement” November 15. [LIST] [*][B]EUR[/B] – continued to rally yesterday and breached the hugely psychological parity [B]1.0000[/B] level. [*][B]JPY[/B] – dipped to 146.10 lows from 147.50 and remains capped by[B] 147.00[/B] today. [*][B]GBP – [/B]Sterling rallied over 200 pips again yesterday from [B]1.1300[/B] to over 1.1540, but has since sunk below [B]1.1500.[/B] [*][B]Stocks – [/B]Wall Street closed higher, tech led again [B]META[/B] +6.53%, (job cuts) [B]GOOG[/B] & [B]MFST[/B] over +2.2% and [B]TSLA –[/B]5.01%. [B]US500 [/B]closed +36.25 (+0.96%) at [B]3806, [/B] FUTS trades at [B]3808[/B] now. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2022/11/2022-11-08_08-38-37.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/11/2022-11-08_08-38-37.jpg[/IMG][/URL] [LIST] [*][B]USOil –[/B] spiked over $93.00, yesterday before slipping to close at $92.00 and lower again now at $91.40. [*][B]Gold – [/B]once again tested Friday’s close at $1680 before drifting to $1675 into close and $1670 now. [*][B]BTC – [/B]drifted from $21.2k, top Monday to $20.5k at close, before tankingto $19.3k lows today as [B]FTX[/B] CEO Sam Bankman-Fried and [B]Binance[/B] CEO Changpeng Zhao trade allegations. It traces back to FTT coin, which is FTX’s token and a report from CoinDesk that says Bankman-Fried’s trading company Alameda Research has about $6 billion of its $14.6 billion assets in the coin, which his other company created.¹ [/LIST] [B]Today – [/B]EZ Retail Sales, [B]US Midterms[/B], Speeches from BoE’s Pill (x2), Fed’s Williams, ECB’s Nagel & SNB’s [B]Jordan.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2022/11/2022-11-08_09-05-05.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/11/2022-11-08_09-05-05.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]NZDUSD [/B](-0.47%) rallied yesterday from an initial dip, beyond Friday’s high to 0.5952, to [B]0.5900[/B] now. MAs aligned lower, MACD histogram & signal line positive but falling, RSI 41.42 & falling, H1 ATR 0.00114, Daily ATR 0.01091.[B] [/B] [URL='https://analysis.hfm.com/wp-content/uploads/2022/11/2022-11-08_09-49-27.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/11/2022-11-08_09-49-27.jpg[/IMG][/URL] [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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