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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 218328, member: 32345"] [B]Date : 8th March 2023. Market Update – Fed is prepared to “speed up”.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2021/06/NASDAQ_USA100_STOCK-2.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2021/06/NASDAQ_USA100_STOCK-2-696x340.png[/IMG][/URL] [B]USD[/B] rallied to [B]105.85[/B] during Powell’s hawkish speech and holds above [B]105.57[/B] since then. [B]Yields[/B] rose and [B]stock[/B] markets remain under pressure. The Nikkei was a notable exception overnight, with a 0.5% gain. [B]Curves are inverting further[/B] in [B]Germany[/B] and the [B]US[/B] as concern that overly aggressive central bank action will hurt the recovery returns. [B]The curve inverted to -104 bps, the most since 1981, from -93 bps. [/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-08_09-55-11.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-08_09-55-11.jpg[/IMG][/URL]A more[B] hawkish[/B] than expected stance from Fed Chair Powell saw Treasury yields spike and Wall Street sink, while the dollar firmed. Although Powell did not really say anything new as he reiterated the “higher for longer” policy mantra, he did open the door for a return to a more aggressive [B]50 bp rate hike[/B] and the markets jumped through it. [B]BlackRock sees ‘reasonable chance’ of Fed raising rates to 6%.[/B] [LIST] [*][B]USD at 105.66[/B] now. [B]Euro[/B] drifted to [B]1.0544[/B], [B]Sterling[/B] broke 4-month support to [B]1.1861, [/B]below 20-WMA. [B]Yen[/B] spiked to [B]137.54[/B] on US Dollar strength. [*][B]Stocks – US500[/B] tumbled [B]1.53%[/B] to close under the [B]4000[/B] mark. The [B]US100[/B] slid [B]-1.25%. The US30 [/B]dropped [B]-1.72%[/B] with losses accelerating after the break below [B]33,000[/B]. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-08_09-27-57.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-08_09-27-57.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – [/B]massive sell off from[B] $80.95 to $77.13 [/B]on fears that more aggressive US interest rate hikes would hit demand. API shows US crude stocks fall helped oil to find a floor, while USD rise keeps lid on oil. [B]Gold –[/B] 1-week low ([B]-1.9%[/B]) at [B]1814.22[/B]. [*][B]Cryptocurrencies – BTC [/B]– at $[B]21936.[/B] [/LIST] [B]Today – Fed Chair Powell’s Testimony to the House Finance Committee. US ADP, & BoC rate decision.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-08_09-56-52.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-08_09-56-52.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]XAUUSD [/B](-1.9%). Plummeted to [B]1809[/B]. MAs flattened, MACD histogram & signal line remain well below 0, RSI 30 & flat, H1 ATR 2.32, Daily ATR 18.25. [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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