Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Advertisements
Advertisements
HotForex: New market analysis services.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="HFM, post: 192904, member: 32345"] [b]Date : 17th March 2021. Yields nudged higher – Cautious ahead of FOMC.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2021/03/2021-03-17_10-48-47.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/03/2021-03-17_10-48-47-696x605.jpg[/IMG][/URL] [B]Action remains mixed and subdued ahead of today’ s FOMC results.[/B] The Treasury yield has lifted 1.2 bp to 1.63% as [B]markets position for the FOMC announcement, which will take centre stage today[/B]. Markets are preparing for a less dovish tone against the background of a rapidly proceeding vaccination program and the prospect of a swift re-opening of the economy. In Europe the [B]BoE is set to announce its policy decision tomorrow[/B] and while Governor Bailey is expected to offer some reassurance on policy, he seemed pretty sanguine on the trend higher in yields in comments from Monday. In the Eurozone meanwhile investors saw little evidence that the ECB has actually stepped up asset purchases in Monday’s data and seem to be testing the central bank’s resolve to keep spreads in. [B]Headlines:[/B] [LIST] [*]Slow progress of the vaccination program is adding [B]pressure to the sentiment,[/B] as the temporary suspension of the AstraZeneca vaccine clearly isn’t helping. Officials may feel they have the need to act on even the slightest suspicion of problems, but the move could well backfire and play into the hands of the anti-vaccine movement, rather than offering reassurance that officials are keeping to very strict health guidelines. [*][B]Australia[/B] (Queensland state) reports [B]4 severe reactions[/B] to AstraZeneca vaccination. [*]Stock markets traded within a narrow range ahead of the FOMC. – [B]GER30[/B] and [B]UK100[/B] futures are currently down -0.06% and -0.04%, with US futures also marginally lower. [*]A sharp narrowing in Japan’s trade surplus thanks to a slump in exports underpinned JGBs and saw the [B]JPN225[/B] close with a -0.2% loss. [*]Reports of[B] supply shortages from companies such as Samsung and [URL='https://www.reuters.com/article/us-honda-production-exclusive/exclusive-honda-temporary-cutting-some-production-at-all-u-s-canada-plants-idUSKBN2B9042']Honda[/URL][/B] added to the cautious tone in stock markets. [*]US Secretary of State Antony Blinken has released a [URL='https://finance.yahoo.com/news/blinken-says-report-shows-china-024256920.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZm9yZXhsaXZlLmNvbS8&guce_referrer_sig=AQAAAGmGP43Ab_KJaFDn7nGlMzsu0yzuErBVDS9T8wHa35XwUfW0y1OUSA5LJ53CqEvY5fDttYWzTWVljiJoAfZ1gIYegFrwDOvSAjeJS5MZaN13HLfjQyU5L2gIlGSonV-xiAJwFgVuLN9zUcQ2AIPwvr6ExarsC6Yl1-3TiRo4vOMH']report identifying[/URL] 24 China and Hong Kong officials whose actions have reduced Hong Kong’s autonomy. [*][B]Japan[/B] will raise tariffs on US beef imports for 30 days. [*][URL='https://news.trust.org/item/20210316200535-oe9yp/']Iran[/URL] [URL='https://news.trust.org/item/20210316200535-oe9yp/']enriching[/URL] uranium with new advanced machine type at underground plant – IAEA. [/LIST] [B][U]Forex Market[/U] JPY –[/B] lifted to 109.20, unable to break 4-day resistance. [B]EUR – [/B]4th day dropped currently at 1.1892. [B]GBP [/B]– steadied to 1.3877-1.3930 area. [B]AUD –[/B] steadied to low 0.77 area. [B]CAD & USOil[/B] –fell to a fresh three year low at 1.2437 even as WTI crude oil gyrated between $64 and $65 after pulling back from $66.38 yesterday. [B]VIX[/B] – Appreciated by more than 20% in the open, just a breath below 20-day SMA. [B]Today: Today’s data calendar is pretty quiet, with only the final reading for Eurozone February inflation. The Fed concludes its meeting today and announces its decision and releases its quarterly forecasts at 18:00 GMT. FOMC preview: [/B]The meeting will be followed by Fed Chair Powell’s press conference at 14:30 ET. The focus will be on the new views on the recovery and of course policy as reflected in the SEP and dot plot. The statement should show an improved outlook on the economy, but a still cautious stance on the labor market. Look for reiteration that inflation continues to run below target. In his press conference Chair Powell will acknowledge the run up in prices but will again say it’s expected to be a transitory blip. We suspect he will try to discourage worries that the run up in yields will initiate the start to tapering sooner than later. Remember the Fed has indicated it will begin trimming QE before it begins boosting rates. So it could be a difficult dance if the dots show more rate hikes in 2022 than the 1 from December as the markets would quickly price in Fed action for later this year. [b]Please note that times displayed based on local time zone and are from time of writing this report.[/b] Click [url=https://www.hotforex.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] to access the full HotForex 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.hotforex.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hotforex.com/][b]Click HERE to READ more Market news.[/b][/url] [b] Stuart Cowell Head Market Analyst HotForex 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]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…