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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 218077, member: 32345"] [b]Date : 1st March 2023. Market Update – March 1 – USD Holds at highs, PMI’s in Focus.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2018/12/eu_update_1200x628-e1567669197104.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2018/12/eu_update_1200x628-e1567669197104-696x339.png[/IMG][/URL] Trading Leveraged Products is risky The [B]USD[/B] held at recent highs to close the month, [B]stocks[/B] were lower, weighed by weak US data and inflation in Europe surprisingly spiked in France and Spain. Overnight: [B]Chinese PMI [/B]data showed manufacturing growing the fastest in 10-years and Services surging (56.3). [B]Australian [/B]CPI sank significantly to 7.4% but GDP missed (0.5% vs 0.8%) pulling down the AUD. Upbeat Chinese data has lifted European Futures[B]. Gold[/B] and [B]Oil[/B] both had strong closes to a weak month. [LIST] [*][B]FX[/B] – [B]USD Index [/B]tested back to [B]105.00 [/B]before declining to 104.65 now. [B]EUR [/B]holds over [B]1.0600, [/B]from 1.0570 & capped by 1.0620 today. [B]JPY [/B]topped at 136.70 yesterday tested below [B]136.00[/B] & trades at 136.606 now. [B]Sterling [/B]enthusiasm stalled at 1.2145 before declining to test the key [B]1.2000[/B] zone again. Back to 1.2070 now. [*][B]Stocks –[/B] The US markets slipped again (-0.10% to -0.71%). Movers – [B]#NVAX [/B]+6.8% & [B]META [/B]+3.19%. [B]GS[/B] -3.19% after problems in their consumer unit. [B]#TSLA[/B] day today. [B]US500[/B] –0.30% (-12.90) [B]3970, [/B] [B]US500[/B] FUTS [B]3983 [/B]now[B]. [/B] [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-01_09-02-27.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-01_09-02-27.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – [/B]Futures tested to $77.60 yesterday, dipped a $1.10 and are back to $77.60 now. [B]Gold –[/B] tested below the support level at $1805 yesterday before a significant last day of the month rally to $1830. Trades at $1835 now. [*][B]Cryptocurrencies – BTC [/B]– Back to test $[B]23k[/B] support yesterday and holds $23.7k now. [/LIST] [B]Today – [/B]EZ/UK/US [B]Final PMIs[/B], German [B]CPI[/B] (Prelim.), [B]US ISM Manufacturing PMI[/B], New Zealand Export/Import Prices, Speeches from BoE’s [B]Bailey[/B] & Fed’s Kashkari. [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-01_09-03-45.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-01_09-03-45.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NZDJPY [/B](+0.80%). Rallied from 83.75 yesterday to 84.85 now, with next resistance at 85.00. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 72.30 & in the OB zone, H1 ATR 0.158, Daily ATR 0.00637. [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-01_09-06-30.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-01_09-06-30.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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