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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 218830, member: 32345"] [b]Date : 29th March 2023. Market Update – March 29 – USD continues to ease as sentiment lifts.[/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] Bank jitters continue to ease lifting sentiment & Asian markets despite [B]US stocks[/B] closing in the red. The [B]USD[/B] eased another 0.3% and [B]Yields[/B] gained with the 2-yr regaining [B]4%[/B]. [B]Alibaba[/B] surged [B]14.3%[/B] in US trading and was up 16.3% at one point in Hong Kong after it announced it will split into 6 separate entities. Other Chinese tech companies (Tencent & JD.com)) are stronger. The [B]YEN[/B] continues it’s volatile week as year end looms, [B]AUD[/B] is lower on weaker Inflation, European & US Futures are higher. [B]US[/B] Consumer Confidence was better than expected, the Fed’s [B]Barr[/B] called SVB “not well managed” and that the $142 billion of withdrawals in first week of March represented 81% of 2022 deposits. Overnight: [B]AUD[/B] CPI missed (6.8% vs. 7.2% & 7.4%) and adds to prospects of RBA pausing rate hikes at next week’s meeting. [B]German[/B] GfK Consumer Climate in-line (-29.5% vs -29.5% & -30.6%). [LIST] [*][B]FX[/B] – [B]USDIndex [/B]drifted 0.3% lower yesterday to test[B] 102.00[/B] before a bounce to 102.25. [B]EUR[/B] rallied from [B]1.0800[/B] to 1.0850 now. [B]JPY [/B]continued its volatile week back to [B]132.00[/B] now after lows of 130.40 yesterday, [B]Sterling [/B]rallied over [B]1.2300[/B] to 1.2340 and holds at 1.2325 now. [*][B]Stocks –[/B] US markets lower (-0.12% to -0.45%) Major movers outside the Chinese tech stocks were [B]OXY[/B] +4.29% & [B]LYFT[/B] -7.6%. [B]US500[/B] –0.16% (-6.26) to [B]3971,[/B] [B]US500[/B] FUTS +0.37% higher at [B]4026 [/B]now[B]. [/B] [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-29_09-05-14.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-29_09-05-14.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – [/B]Futures recovery continued again yesterday from [B]$70.00 [/B]to hold over [B]$73.00[/B] and test [B]$74.00[/B]. EIA Inventories today. [B]Gold –[/B] dipped to $1950 once again, rallied to $1975 and trades at $1960 now. [*][B]Cryptocurrencies [/B]– [B]BTC[/B] has recovered to $28k today after testing $26.5k again. [B]SBF[/B] faces new SEC charges that he tried to bribe Chinese officials with a $40 million payment. [/LIST] [B]Today – [/B]US House Financial Services Committee re. SIVB, Speeches from Fed’s Barr, BoE’s Mann, ECB’s Schnabel. [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-29_09-02-05.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-29_09-02-05.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]USDJPY [/B](+0.79%). Volatility continues. Tested down to 130.40 after weak inflation yesterday, testing [B]132.00[/B] today. MAs aligned higher, MACD histogram & signal line positive & rising, RSI 71, OB & rising, H1 ATR 0.216, Daily ATR 1.910. [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-29_09-03-58.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-29_09-03-58.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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