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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 218240, member: 32345"] [b]Date : 6th March 2023. Market Update – Risk Apettite ahead of a massive week![/b] [URL='https://analysis.hfm.com/wp-content/uploads/2023/02/daily-market-update.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/02/daily-market-update-696x364.png[/IMG][/URL] China set a modest target for economic growth this year of [B]around 5% on Sunday[/B], and is poised to implement the biggest government shake-up in a decade. Disappointing the markets! [B]USD[/B] under pressure. [B]Yields[/B] decline and [B]Stocks[/B] extend rally today after Friday’s strong close. Stronger than expected data releases have revived tightening speculation and kept a lid on local stocks. [B]Rate[/B]–[B]sensitive tech shares outperformed in Japan[/B], just like in the US, after comments from Richardmond Fed President [B]Thomas Barkin[/B] that inflation is “[B]likely past peak,[/B]” which helped to rein in long-term Treasury yields from multi-month highs. A day earlier, Atlanta Fed chief [B]Raphael Bostic[/B] hinted that a peak in rates may come in summer. [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/74f8cc2eefd80a720321b151b9eb117f.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/74f8cc2eefd80a720321b151b9eb117f.png[/IMG][/URL] [LIST] [*][B]USD [/B]under pressure retested [B]104.34 [/B]low. [B]EUR[/B] extends to [B]1.0640[/B], for a 2nd day in a row. [B]JPY[/B] dipped [B]135.30[/B] but has inclined to [B]135.70[/B] now. [B]Sterling[/B] jumped to [B]1.2040 [/B]but failed to exit February’s range. [*][B]Stocks –[/B] The US markets rallied amid overtightening comments from FED officials. Movers – [B]US500[/B] +0.76% [B]4054,[/B] [B]US100[/B] +0.76% [B]12341, US30[/B] +0.76% [B][B]33408, GER40 [/B][/B]up 0.2%, [B]UK100[/B] futures are flat. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-06_08-52-52.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-06_08-52-52.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – holds gains above [/B]$78.80 from EIA small supply gain seen last week and as markets weigh prospects for China demand after latest economic data. [B]Gold –[/B] had its best week since mid-January amid soft USD. Currently at $1858.20. [*][B]Cryptocurrencies – BTC [/B]– tanked on Friday to [B]21,858[/B] amid Silvergate Failure ([URL='https://bitcoinist.com/silvergate-halts-crypto-payments/']Silvergate[/URL] Halts Crypto Payments After Suffering $1 Billion Loss). Currently recovering above $[B]22k.[/B] [/LIST] [B]Today – [/B]Eurozone January retail sales, February S&P Global PMIs for Germany, France and Eurozone, Canadian Ivey PMI and US Factory Orders. [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-06_09-52-54.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-06_09-52-54.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]GBPCHF [/B](-0.49%). Dipped to 1.2128 on EU open. MA’s aligned lower, MACD histogram turn negative & signal line is at 0, RSI 29 & falling, H1 ATR 0.00116, Daily ATR 0.00776. [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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