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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 217207, member: 32345"] [B]Date : 1st February 2023. Market Update – February 1 – US100 Posts Best January Since 2001.[/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] [B]Stocks[/B] and [B]bonds[/B] corrected higher on Tuesday as the deceleration in ECI energized short covering and boosted risk appetite.[B] Global Stock market finished with solid[/B]. [B]Earnings[/B] were mixed, but a lot of bad news has been digested, opening the door for bargain hunting.[B] Treasury yields[/B] declined, led by the front end as the market senses rate hikes are coming to an end. [B]Month-end buying also contributed[/B]. Along with ECI, the calendar included further declines in home prices, a drop in consumer confidence, and a slide in the Chicago PMI. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_09-52-20.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_09-52-20.jpg[/IMG][/URL][URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_09-52-34.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_09-52-34.jpg[/IMG][/URL] [LIST] [*][B]UK: [/B]UK house prices inflation slowing down & shop prices continue to rise & the mortgage rate surge through October; will add to the arguments of the hawks at the MPC, adds to signs that against the background of rising interest rates and falling disposable income the housing market is slowing fast. The question is how fast and how long the correction will be as the risk that thousands are stuck in situation with negative equity where loans exceed house values could exacerbate an already very difficult situation for the UK economy. [*][B]China:[/B]China Caixin manufacturing PMI signals ongoing contraction. Unlike the official PMI report, the Caixin General Manufacturing PMI remained below the 50 point no change mark and nudged only slightly higher – to 49.2 from 49.0 in December last year. [*]The [B]USD Index[/B] – slumped to 101.991 as the market saw fading prospects of an aggressive stance from the FOMC, even though many expect Chair Powell to push back against the rallies in bonds and stocks. [*][B]EUR[/B] – advances slightly to 1.0879 from 1.0800. [*][B]JPY[/B] – steady for 6 days in a row 130.00 – 130.40. [B]BOJ buys record $182 billion[/B] worth of bonds in January [*][B]GBP –[/B] drifted to 1.2300 bottom. [*][B]Stocks –[/B] [B]US100[/B] +1.67% at 12118, for a 10.68% surge on the month, [B]US500[/B] 1.46% higher and up 6.18% for January, the best monthly gain since October. And it is the first January increase since 2019. The [B]US30[/B] rose 1.09% on the day for a 2.83% monthly gain. [B]Exxon[/B] smashes Western oil majors’ profits with $56 billion in 2022. [B]AMD[/B] revenue beats targets, Wall St relieved after Intel’s grim outlook. [B]GM[/B] shoves aside recession fears with robust 2023 forecast. [B]Pfizer[/B]sees steep 2023 fall in COVID sales, aims to bolster pipeline. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_09-52-51.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_09-52-51.jpg[/IMG][/URL] [*][B]USOil – [/B]rebounded from 76.50 to 79.40 yesterday. The IMF has also lifted its global growth forecast and that should likely keep demand expectations and prices underpinned. [*][B]Gold – [/B]closed at 1928. [*][B]BTC [/B]– held above 23000 into the new month. [/LIST] [B]Today – [/B]EU prelim. HCPI, US ADP employment change, US ISM Manufacturing and FED meeting and Press Conference. Earnings: Meta, Novo, Thermo Fisher, Novartis, Sony etc. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_10-23-33.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-01_10-23-33.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]Coffee[/B] (+6.66%).Bounced to 182 from 169.40. MAs aligning higher, MACD histogram & signal line extends higher. RSI 86 but lower , H1 ATR 1.77, Daily ATR 5.48. [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 : 2nd February 2023. Market Update – February 2 – A Continued Battle of Wills.[/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] [B]Stocks[/B] surged, [B]Yields[/B] dove sharply, the [B]US Dollar[/B] slumped, on Wednesday while they are holding their gains/losses so far today as well. The FOMC delivered the 25bp rate hike as expected, reaching 4.75%, an eighth straight hike. The moderation & the lack of anything new or overly hawkish from Powell’s comments and when he acknowledged progress in the fight against inflation opened the door for bulls and a healthy short covering rally, eventhough he stressed that the labor market remains “extremely tight” and that inflation remains “well above our longer-run goal.” Markets remain convinced that a [B]widely expected recession[/B] is likely to roil markets once again sometime this year. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-02_09-17-54.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-02_09-17-54.jpg[/IMG][/URL] [LIST] [*]The [B]USD Index[/B] – was the [B]only real casualty of the markets’ dovish take[/B], having fallen to 100.65 as the continued downshift in rate hikes over the last few FOMC decisions is increasing the chances that the tightening cycle is nearing an end, which continues to support markets. [*][B]EUR[/B] – finally broke the key 1.0900 extending to 1.1000. [*][B]JPY[/B] – drift to 128.00 from 130.50. [*][B]GBP –[/B] at 1.2388, up 0.10% on the day. [*][B]Stocks –[/B] [B]US100[/B] +2% at 12,528, [B]US500[/B] 1% higher to 4,163 but the [B]US30[/B] steady at 34100. [B]Shell[/B] makes record $40 billion annual profit. [B]Meta surged nearly 19% in after-hours trade as it announced [/B]with lower costs, big buyback, upbeat sales. [B]Deutsche Bank’s[/B]fourth-quarter profit surged, exceeding expectations and contributing to a third consecutive year of profit. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-02_09-50-38.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-02_09-50-38.jpg[/IMG][/URL] [*][B]USOil –[/B] we have seen a short- leave rise 77.40 after rebounded from 76.00 bottom, after [B]US government data showed big builds[/B] in crude and oil products inventory. [B]OPEC[/B]+ agreed to cut its production target by 2 million barrels per day (bpd), about 2% of world demand, from November last year until the end of 2023 to support the market. [*][B]Gold – [/B]skyrocketed to 1959. [*][B]BTC [/B]– advanced to 24254. [/LIST] [B]Today – ECB [/B]seen raising rates by 50 basis points & [B]BoE[/B] set to lift rates to 14-year high, might hint at next moves. [B]Earnings[/B]: Apple, Amazon, Alphabet, Eli Lilly, Roche Holdings, Shell, Qualcomm etc. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-02_09-51-50.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/2023-02-02_09-51-50.jpg[/IMG][/URL][B]Biggest FX Mover[/B] @ (07:30 GMT) [B]XAGUSD [/B](+2.59%). Bounced to R1 at 24.27. MAs flattened, MACD histogram & signal remain well above 0, RSI 63 but flat suggesting , H1 ATR 1.77, Daily ATR 5.48. [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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