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[QUOTE="HFM, post: 193966, member: 32345"] [B]Date : 9th April 2021. Market Update – April 9 – USD & Yields heading for Weekly loss. Market News Today[/B] – US Equities higher (USA500 hit new intra-day ATH 4098) USD weakness continues as 10-yr yields dip to 1.632%. Powell talked of “brighter outlook”, Bullard & Kashkari: “Fed in no rush to raise rates”. Daly – Bullish on recovery but Fed “we have to see substantial progress”. Unemployment claims missed again (744k vs 680k), counter to the big NFP beat last week. Gold rallied over $1750 and USOil under $60.00. Nikkei +0.5%. Overnight – Chinese PPI beat and at 2-year highs, AUD & NZD weaker, CHF Unemployment drops significantly but German Ind Prod. & Trade Balance both missed expectations. The [B]Dollar[/B] has steadied after printing fresh lows yesterday, which has been concomitant with the 10-year U.S. Treasury yield lifting back above 1.650% after yesterday posting a two-week low just under the 1.630% mark. The [B]USDIndex[/B] has lifted to around 90.30 from the 17-day low that was logged at [B]92.0[/B]. [B]EURUSD[/B] has concurrently ebbed back under 1.1900 from a 17-day peak at [B]1.1928[/B], while [B]USDJPY[/B] has recouped to the [B]mid 109.00s[/B] from a 15-day low at 109.00. [B]Cable[/B], meanwhile, has dropped to a new two-week low at [B]1.3671[/B]. The Pound has at the same time sank, to a fresh six-week high versus the euro and a two-week low in the case against the yen. Some narratives have been linking the UK currency’s notable underperformance this week to the blot-clotting concerns of the Oxford AstraZeneca Covid vaccine, though the yield correction in Gilts has been more pronounced than in some peers, including Bund and JGB yields, which is likely a stronger reason for sterling’s fall out of favour. The 10-year Gilt yield is at prevailing levels showing a 1 bp bigger decline from last week’s highs compared to even the US 10-year yield. The [B]Australian dollar[/B] has dropped quite steeply, by 0.8% in making an eight-day low versus the greenback at [B]0.7588[/B], breaking through the lows of the choppy range that’s been seen this week. Softness in base metal prices and a sputtering price action across Asian stock markets have been weighing on cyclical currencies, such as the Aussie. Regarding stock markets, the MSCI All Country World index edged out a new record high during the early part of the Asia-Pacific session before drifting back. Chinese markets led equity markets lower in Asia, with perkier than expected inflation data out of China raising investor concerns of policy tightening. [B]Today[/B] – [B]US PPI[/B], [B]Canadian labour market report[/B], ECB’s de Guindos, Fed’s Kaplan. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/04/2021-04-09_09-50-03.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/04/2021-04-09_09-50-03.png[/IMG][/URL] [B]Biggest (FX) Mover[/B] @ (07:30 GMT) [B]AUDUSD[/B] (-0.79%) stalled at [B]0.7660[/B] earlier from yesterday’s rally. Reversed significantly back under PP, S1 and [B]0.7600[/B], S2 0.7580. MAs remain aligned lower, RSI 26, OS but still falling, MACD histogram & signal line aligned lower and under 0 line in this current hour. Stochs in OS zone and falling. H1 ATR 0.0011, Daily ATR 0.0067. [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.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]
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