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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 219071, member: 32345"] [B]Date : 6th April 2023. Market Update – April 6 – Eyes on Jobs.[/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] [B]While Friday’s jobs report is the near term focus, attention is already turning to CPI on April 12. USD[/B] wobbled initially and stumbled to [B]101.4[/B] on the data, but recovered to close at [B]101.75[/B]. [B]Another data miss, a further drop in bonds. Treasuries[/B] [B]rallied[/B] further after weaker [B]ISM services[/B] and [B]ADP numbers[/B] added to expectations for a slowing economy that will keep the FOMC hawks grounded, if not in May, then in June. The combination of [B]risk aversion[/B], reduced expectations for Fed tightening, short covering, and technicals all helped propel the move. [B]Wall Street[/B] was mixed all session & [B]Asian equities[/B] declined following the US lower as investors switched their focus to the prospect of a recession. [B]German industrial production surged 2.0% m/m[/B] in February, adding to signs that activity has strengthened, and that Germany will escape a technical recession![B] UK house prices rose[/B] unexpectedly in March. Overnight – [B]China & HK reopened[/B] but the regions stocks also remained heavy ahead of Easter Weekend. –[B] Chinese Services PMI[/B] grew strongly, the[B] AUD trade balance[/B] was better than expected but weighed on [B]AUD[/B] & [B]NZD.[/B] [LIST] [*][B]FX[/B] – [B]USDIndex ranging 101.11-101.29.[/B] [B]EUR and GBP are weaker but steady above 1.0900 [/B]and [B]1.2450 [/B]respectively. [B]JPY also lost some ground against USD rebounding to 131.50[/B]. [*][URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-06_09-07-36.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-06_09-07-36.jpg[/IMG][/URL] [*][B]Stocks – US100 dropped -1.07%, while the US500 fell -0.25%, with the US30 rising 0.24%. Western Alliance Bancorp [/B]shares have fallen further today, dropping some -17% following an update on its Q1 financials yesterday on a lack of details. Losses are being pared slightly after just releasing further information on its deposits, noting total deposits declined to $47.6 bln in Q1 from $53.6 bln to end Q4. It is slated to announce its earnings on April 18 after the close. [*][B]Commodities – USOil is sideways between[/B] [B]$79-$80.[/B] [*][B]Gold[/B] – prices have slipped to [B]$2012 from $2032[/B], but the contract is holding above [B]$2000[/B] after breaking that barrier yesterday (closing basis) for the first time since March 2022. [*][B]Cryptocurrencies [/B]– [B]BTC[/B] flat at [B]$28k.[/B] [*][URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-06_09-56-48.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-06_09-56-48.jpg[/IMG][/URL] [/LIST] [B]Today – US Jobless Claims, Canadian Employment data & Speech from the Fed’s key Hawk – Bullard.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-06_09-58-57.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-06_09-58-57.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NZDJPY [/B](+0.52%). On EU open rebounded from 82.42 but holds well below PP. MAs reversed but not bullishly crossed yet, while MACD & RSI remain negative. [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. ------------------------------------------------------------------------------------------------------------------------------------------------------------ [b]Date : 7th April 2023. Market Update – April 7 – Stocks & Dollar Higher Ahead of Jobs Day.[/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] Trading was cautious heading into the March jobs report and the Easter holidays. Most global markets will be closed on [B]Good Friday[/B], with much of Europe also shut for [B]Easter Monday.[/B] Wall Street will not trade today, but the Treasury market will be open for an abbreviated session due to the employment report. The [B]USD[/B] recovered from lows, [B]Stocks[/B] closed a tad higher and [B]Yields[/B] slipped again (US 10-yr at 3.288%). Gold tested down to [B]$2,000[/B] before settling a $2007.82, & [B]USOil[/B] closed at $80.70. Overnight: [B]Japan[/B] – February household spending (weaker) +1.6% vs +4.3% & Leading Indicator Index rises to 97.7 vs 96.5 last time. [LIST] [*][B]FX[/B] – [B]USDIndex [/B]slipped to 101.06 yesterday and remains below [B]102.00[/B] today at 101.50. [B]EUR[/B] slipped under [B]1.0900[/B] yesterday but trades at 1.0920 now. [B]JPY [/B]found a floor at [B]131.00[/B] this week but remains under [B]132.00 [/B]for a fourth day. [B]Sterling’s [/B]decline from the key [B]125.00 [/B]holds at 1.2440, next support 1.2425. [*][B]Stocks –[/B] US markets, closed mixed led by tech stocks yesterday (+0.76% to -0.03%) [B]#US500[/B] closed at [B]4105[/B] – [B]US500[/B] FUTS also higher at [B]4128. [/B] [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-07_09-20-53.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-07_09-20-53.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – [/B]Futures held the key $80.00 and a new equilibrium following the [B]OPEC[/B] production cut last weekend. [B]Gold –[/B] tested into [B]$2000[/B] once again, before settling a $2007.82 [*][B]Cryptocurrencies [/B]– [B]BTC[/B] continues to rotate at what is becoming the key [B]$28k[/B] again. [/LIST] [B]Today –[/B] Most trading Centres [B]closed[/B] for [B]Good Friday, US NonFarm Payrolls [/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-07_09-14-29.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-07_09-14-29.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]AUDJPY [/B](+0.31%). Broken a 3-day fall from a test of the 90.00 zone earlier in the week, recovering 88.00 today. MAs aligning higher, MACD histogram & signal line turning positive & rising, RSI 59.35 & rising, H1 ATR 0.103, Daily ATR 1.089. [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-07_09-28-23.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-07_09-28-23.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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