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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 217135, member: 32345"] [b]Date : 31st January 2023. Market Update – January 31 -Stocks Lower; Techs Lead Drop.[/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] Global [B]Stocks extend lower[/B],[B] USD[/B] [B]steady[/B] and [B]Yields[/B] [B]picked[/B] [B]up[/B] across the curve with the short end underperforming in a bear flattener given the Fed views. The curve flattened to -72 bps before unwinding to -70 bps. The looming [B]FOMC[/B] decision on Wednesday and expectations for a hawkish trimming in the rate path left [B]bonds and stocks heavy with buyers sidelined.[/B] Concerns over upcoming earnings from Apple, Amazon, Alphabet, and Meta also weighed. The [B]US100[/B] slumped -1.96%. European bonds and stocks were mostly lower too ahead of [B]ECB[/B] and [B]BoE[/B] rate decisions. [B]Elsewhere:[/B] [LIST] [*][B]China: [/B] domestic orders and consumption and manufacturing PMI drove higher (>50). A rebound in non-manufacturing activity was more decisive than expected by economists – but helped by a seasonal surge in spending for the Lunar New Year holiday. [*][B]Japan[/B] Dec factory output inches down, retail sales beat forecasts [*][B]German[/B] retail sales down 5.3% m/m in December & December import prices -1.6% m/m, +12.6% y/y. [*]The [B]USD Index[/B] – firmed, however, rising to 102.32 assuming the Fed reiterates a higher for longer stance. [*][B]EUR[/B] – drifts to 1.0827. [*][B]JPY[/B] – rise slightly at 20-DMA i.e. 130.4. [*][B]GBP –[/B] struggling to break 1.2450. [*][B]Stocks –[/B] [B]US100[/B] -1.96% at 11929[B], US500 [/B]off -1.30% and the [B]US30[/B] -0.77%.[B] Losses were broadbased. [/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/01/2023-01-31_09-55-05.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/01/2023-01-31_09-55-05.jpg[/IMG][/URL] [*][B]USOil – [/B]down to $77.60, below 50-day SMA as the threat of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. OPEC+ panel is likely to recommend keeping the oil producer group’s current output policy unchanged when it meets tomorrow. [*][B]Gold –[/B] at its 4th day lower, but still set for gain of 5% in January. Silver, platinum palladium are set for a monthly decline. [*][B]BTC [/B]– held support at $22,400. [/LIST] [B]Today – [/B]German unemployment, EU prelim GDP, US CB and NZ employment data; [B]Earnings: [/B]AMD, Exxon, Pfizer, General Motors, Mc Donald’s, Marathon Petroleum etc. [URL='https://analysis.hfm.com/wp-content/uploads/2023/01/2023-01-31_09-57-19.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/01/2023-01-31_09-57-19.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]GBPAUD [/B](+0.56%). Up to R2 of the day, i.e. 1.7586. MAs aligning higher, MACD histogram & signal line extends higher. RSI 71 & neutral, H1 ATR 0.00254, Daily ATR 0.01533. [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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