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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 217893, member: 32345"] [B]Date : 22nd February 2023. Market Update – February 22 – It has gotten ugly out there![/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]US Stocks[/B] recorded their worst day in two months, [B]Yields [/B]soared with 10-year Treasuries hitting three-month peak.[B] Vix index[/B], a measure of stock market volatility and often dubbed Wall Street’s “fear gauge”, rose above[B] 23, its second highest level of the year.[/B] Fears over a more [B]hawkish FOMC stance[/B] for a longer period of time continued to weigh on the markets. More strong data added further to the hawkish Fed case as well with the [B]S&P Global PMIs[/B] climbing more than expected, with the [B]services[/B] and [B]composite[/B] indexes rising back into expansionary territory. [B]US housing market weakened[/B] in January for the 12th straight month as continued high mortgage rates kept buyers on the sidelines. [B]RBNZ[/B] delivered 50bp hike as expected. [LIST] [*][B]USD Index slightly below 104,[/B] hovering around 23%. The market has fully priced in further rates hikes with a 25 bp increase on March 22, and another 25 bp on May 3. [*][B]EUR[/B]– retests [B]1.06[/B] area once again as markets keep pricing in ECB lifting rates to all-time high. [*][B]Stocks –[/B] Wall Street slumped. [B]US100[/B] ([B]-2.50%[/B]), [B]US500[/B] ([B]-2%[/B]), [B]US30[/B] ([B]-2.06%[/B]). Stocks were also hurt by the disappointing guidance from [B]Walmart (+0.61%)[/B] and [B]Home[/B] [B]Depot (-7.06%)[/B], as well as fears from [B]increased competition from China as it reopens[/B], with some indications of easing restrictions on tech.[B] Tesla (-5.25%), Coinbase (-4.80%).[/B][URL='https://analysis.hfm.com/wp-content/uploads/2023/02/Screenshot-2023-02-22-090348.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/Screenshot-2023-02-22-090348.png[/IMG][/URL] [/LIST] [LIST] [*][B]Lithium crashed by 30% – Could affect EV manufacturers![/B] [*][B]Commodities – USOil [/B]dropped to [B]$75.55.[/B] [*][B]Gold –[/B] steady at $[B]1838[/B]. [*][B]Cryptocurrencies – BTC [/B]– Slightly lower to $[B]24,050.[/B] [*][B]Coinbase (-4.80%) [/B]beat earnings but net income of $605 million while net income was a loss of $557 million. Coinbase shares, which lost about two-thirds of their value over the last year, have rallied sharply since the start of 2023, up roughly 80%. (Boost from [B]BTC rally.)[/B] [/LIST] [B]Today – [/B]FOMC Meeting Minutes in the spotlight. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/Screenshot-2023-02-22-091026.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/Screenshot-2023-02-22-091026.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]US100. [/B]Retests 12000. MAs extend lower, MACD histogram & signal line negative, RSI 29.88. [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 : 23rd February 2023. Market Update – February 23 – On Pins & Needles For Nothing.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2019/08/geopolitcs.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2019/08/geopolitcs-696x364.jpg[/IMG][/URL] [B]US Stocks[/B] held lower but pause the decline, [B]US Dollar[/B] spiked to 104,50 and [B]Yields [/B]richened on short covering following the recent rout, but ended off of the day’s lows as [B]FOMC minutes[/B] fail to provide fresh clues to alter expectations on the path. The 10-year was down 3.7 bps to 3.916%. [B]FOMC minutes solidified views for further hikes[/B] and a higher funds rate through the year. Fed funds futures are suggesting some increased risk for a 50 bp increase at the March 21-22 meeting with the implied rate at 4.878%. May is showing a 5.132% rate, with June at 5.30%. The peak is still seen in July at 5.358%. One notable factor in the market, however, is a 5.02% rate is now priced in for January 2024. [LIST] [*][B]USD Index slightly below 104.51,[/B] hovering around 23%. The market has fully priced in further rates hikes with a 25 bp increase on March 22, and another 25 bp on May 3. [*][B]JPY[/B] – hovering around 134.70-134.90. [*][B]Stocks –[/B] wavered narrowly through the session before closing either side of unchanged with the [B]US100 (0.13%[/B]), [B]US500[/B] ([B]-0.16%[/B]), [B]US30[/B] ([B]-0.26%[/B]). [*][B]Mixed earnings news: Pioneer Natural Resources Co. (#PXD.s)[/B] reported $7.8bn record profits in 2022 — more than triple its previous record of $2.1bn the previous year. Pioneer is becoming the latest oil producer to reap the rewards of high oil prices in the wake of Russia’s invasion of Ukraine. [B]ExxonMobil (#XOM.s) [/B]brought in a record $56bn. [B]Rolls-Royce[/B] beats forecasts with 57% profit rise. [B]BIDU -2.63%[/B] hopes its own artificial intelligence-powered chatbot will put the company back on the path to growth. [B]Baidu stock is up 26% so far in 2023. Nvidia [/B]surged almost [B]9%[/B] after the bell. [*][B]Bank of Korea[/B] holds interest rates steady for first time in a year. [*][B]Commodities – USOil [/B]dropped to [B]$73.80[/B] as IEA Europe’s energy war with Russia is not over, warns IEA. Also on geopolitics as Biden meets eastern european leaders, stresses unity, Chinese diplomat lauds Russia ties in Putin meeting. [B]Brent[/B] crude posted its biggest single-day loss in 7 weeks. [B]Markets reassess position[/B]s after the US Federal Reserve stoked worries about the economy by suggesting further rate hikes ahead. [*][B]Gold –[/B] steady above $[B]1817 [/B]for more than a week. [*][B]Cryptocurrencies – BTC [/B]– rebounded to $[B]24,350.[/B] [/LIST] [B]Today – [/B]Europe and Japan are to release annual inflation data, US Prelim GDP and unemployment claims, while [B]Alibaba[/B] will also release its earnings. [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/Screenshot-2023-02-23-103030.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/Screenshot-2023-02-23-103030.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]Palladium[/B] drifts to[B]1450[/B]. MAs extend lower, MACD histogram & signal line negative, RSI 30. [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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