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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 218972, member: 32345"] [b]Date : 3rd April 2023. Market Update – April 3 – Q2 kicks off with Easter 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] [B]Q2 kicks off with Easter Week, meaning many markets around the world will be closed, likely making for a slower, quieter pace of trading after the whiplash in Q1. USD[/B] strengthened today and extends Friday’s gains with the help of diminished bank fears and the improved outlook on the economy. [B]US Stock markets[/B] closed out Q1 firmly with solid gains and some quarter-end flows. The major indexes are higher for the year-to-date, paced by the [B]US100[/B]‘s [B]16.8%[/B] pop. Asian markets are higher into the new quarter, US futures are mostly lower but European are mixed. [B]Australian[/B] national home values rose 0.6% in March from February, breaking a 10-month streak of falls, according to property research group [B]CoreLogic[/B]. [B]Oil[/B] jumped $5+/barrel today as [B]OPEC announced a surprise output cut.[URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-03_09-25-39.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-03_09-25-39.jpg[/IMG][/URL][/B] Overnight: [B]Japan[/B] – Tankan Large All Industry Capital Expenditure missed significantly (3.2% vs 9.9%), China – Caixin PMI (50 vs 51.7), Australian Building Permits (4% vs -2.6%). [LIST] [*][B]FX[/B] – [B]USDIndex [/B]rallied to 12.58, [B]EUR[/B] dipped to [B]1.0780[/B] having traded to 1.0930 last week. [B]CHF [/B]topped to 0.9195 but currently gains some ground against USD after Swiss CPI inflation dropped more than anticipated. [B]JPY [/B]continued spiking to 133.80 as Japanese data missed significantly. [B]Sterling[/B] retests 1.2300. [*][B]Stocks –[/B] US markets closed the Quarter higher and today holding some gains with [B]US30 [/B]holding above 33,450, [B]US500[/B] also higher at 4120 and US100 slightly lower but above 13,190.[B] [/B] [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-03_09-59-21.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-03_09-59-21.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – [/B]Futures rallied again on the weaker USD to hold over [B]$78.88[/B] at [B]$81.47.[/B] [URL='https://edition.cnn.com/2023/04/02/business/opec-production-cuts/index.html']Saudi[/URL] [URL='https://edition.cnn.com/2023/04/02/business/opec-production-cuts/index.html']Arabia[/URL] and other [URL='https://edition.cnn.com/2023/04/02/business/opec-production-cuts/index.html']OPEC[/URL]+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move. [*][B]Gold –[/B] pullbacked to $1949.65 once again, holding 1-week’s support. [*][B]Cryptocurrencies [/B]– [B]BTC[/B] holds [B]$27.4k.[/B] [/LIST] [B]Today – ISM Manufacturing PMI & BOC Business Outlook Survey.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-03_09-42-36.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-03_09-42-36.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]USOIL [/B](+5.02%). Rallied to 81.43 this morning but currently sits at 78.91. MAs steady, MACD histogram & signal line positive & rising, RSI 70.72, H1 ATR 0.82, Daily ATR 3.35. [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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