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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 219001, member: 32345"] [b]Date : 4th April 2023. Market Update – April 4 – RBA watered down its tightening bias![/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 [B]USD[/B] drifted, returning end of quarter gains on[B] more signs of slowing in manufacturing activity, which had [/B]boosted Treasuries yields but after the data reversed the selloff. Implied Fed funds futures dipping too as the market reduced slightly the risk for a May rate hike. [B]US Stock markets[/B] closed higher except US100. [B]European[/B] futures are slightly higher. [B]Oil[/B] held gains above [B]$80[/B] led by [B]OPEC+[/B] and [B]Saudi’s pledge of its own of 500k reduction (“Saudi First”)[/B], which was the main driver across assets. Overnight: [B]RBA [/B]– held rates unchanged VS expectations – The bank has not ruled out a resumption of rate rises in the future. [B]Fed’s Bullard (nonvoter)[/B] expects funds rate over 5% to achieve inflation target.[B] ECB hawk Holzmann[/B] suggested that another 50 bp hike in May is not out of the question. [LIST] [*][B]FX[/B] – [B]USDIndex [/B]sagged to a low of 101.98 on the growth outlook and less hawkish Fed view, but the index finished the day at 102.03. [B]EUR[/B] lifted to [B]1.0916[/B]. [B]JPY [/B]underperformed as traders weighed in the impact of higher oil prices on Japan’s manufacturing sector. Currently back up to 132.80 amid wider weakness in the Yen. [B]Sterling[/B] boosted to 1.2400, amid USD weakness and as UK March manufacturing PMI revised down. [*][URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-04_09-19-02.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-04_09-19-02.jpg[/IMG][/URL][URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-04_09-16-47.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-04_09-16-47.jpg[/IMG][/URL] [*][B]Stocks –[/B] The [B]US30 [/B]rallied 0.98%, led by the jump in energy. The [B]US500 [/B] was 0.37% in the green, while the [B]US100[/B] slipped -0.27%. [B]Nikkei[/B] and [B]ASX[/B] managing slight gains, but China bourses trading narrowly mixed. The Hang Seng underperformed after the [B]US100[/B] closed in the red, with the tech sector not benefiting hugely from the more cautious tone of central banks. [*][B]Commodities – USOil – Saudi’s pledge of its own of 500k reduction[/B] was the main driver across assets. USOIL ended with a 6.28% pop to [B]$80.42[/B], up over $80 for the first time since March 6 (just before SVB went under), and the contract is up 10% since last Wednesday. [*][B]Gold[/B] – at 5-day support, [B]$1976.[/B] [*][B]Cryptocurrencies [/B]– [B]BTC[/B] holds [B]$27.4k.[/B] [/LIST] [B]Today – European PPI, Canadian Building permits, US Jolts and Factory Orders.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-04_09-57-37.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-04_09-57-37.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]USDRUB [/B](+5.02%). Rallied to 78.50 this morning. MAs aligned higher, MACD histogram & signal line positive & rising but RSI flat and Stochastic posted a bearish cross. H1 ATR 0.4139, Daily ATR 0.9496. [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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