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[QUOTE="HFM, post: 194282, member: 32345"] [b]Date : 19th April 2021. Market Update – April 19 – Equities at highs, BTC hit from weekend hiatus.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2020/08/daily-market-update.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG][/URL] [B]Market News Today[/B] – [B]US Equities[/B] at new closing highs on Friday, (4 consecutive weeks for USA500), [B]USD remains weak[/B] with [B]10-yr yield[/B] now well under 1.60% at [B]1.56%[/B]. Asian markets higher and European FUTS up too. [B]JPY[/B] seeing some buying in Asia – [B]EUR[/B] weaker. [B]BTC weekend collapse[/B] (65k – 51K) reason? – US regulators preparing move on money launderers? Power cut in China’s crypto mining hub Xinjiang? (Trades down 14% at 57k now). AUD-NZD air corridor open, European Football in revolt, Biden to reduce Corp. tax demands to 25%?, $5.4tn global savings stockpile – FT [B]Week Ahead[/B] – [B]ECB,[/B] BOC, & PBOC rate decisions, more CPI data, PMIs, and more key [B]Q1 Earnings reports. – [/B]including Netflix, AT&T, Johnson & Johnson, Intel and American Express. The Dollar has remained soft in concert with heavy US Treasury yields. Ranges have been narrow, though the [B]USDIndex[/B] still edged out a one-month low at [B]91.05[/B], extending the decline from the five-month high that was seen in late March at 93.44. The 10-year Treasury note yield has at the same time settled on a [B]1.560%[/B] handle, just a couple of basis points above last week’s five-week lows. The benchmark yield remains down by nearly 20 bp from the 14-month highs that were seen in late March. Amid the dollar softening theme, which lifted [B]EURUSD[/B] beyond [B]1.2000 [/B]to seven-week highs at 1.2036, there , was a side theme of moderate yen outperformance, which aided USDJPY to a seven-week low at the key [B]108.00[/B], while EURJPY and AUDJPY printed respective 11- and five-day lows. Asia stock markets have remained underpinned, though the MSCI Asia-Pacific index remained off recent highs. S&P 500 E-mini futures was showing a 0.3% decline in early London trading, correcting after the cash version of the index closed on Wall Street at a record peak on Friday in what was its sixth consecutive weekly gain. Incoming corporate earnings will remain a focus, especially those of cyclical businesses. European stock markets are mostly higher, although the DAX is slightly lower and overall moves have been muted as investors look to the earnings season and this week’s central bank meetings for fresh catalysts. The global Covid vaccine supply capacity continues to ramp higher, and continental Europe seems to be past the point of peak pessimism, with infection rates steadying and the vaccine rollout set to accelerate in the weeks and months ahead. The sharp spike in Covid cases in India and, increasingly, Pakistan, are cause for worry, however, as it’s been driven by variant B.1.617, which has two ‘escape mutations’ that make it able to dodge antibodies. This variant has been detected in 77 cases in the UK. [B]Today[/B] – Highlights include ECB asset purchases and earnings from IBM, Coca-Cola and United Airlines. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/04/2021-04-19_09-37-34.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/04/2021-04-19_09-37-34.png[/IMG][/URL] [B]Biggest (FX) Mover @ (07:30 GMT)[/B] [B]BTCUSD[/B] ([B]-14.00%[/B]) Gapped on open – see news item above. Technically stalled at S3 [B]56,150[/B] from a close on Friday at PP [B]61,850[/B]. MAs remain aligned lower although 5 EMA now above 9 EMA, RSI OS (29 and rising), MACD histogram & signal line aligned lower and under 0 line from Friday morning. Stochs rising from OS zone. H1 ATR 970.00, Daily ATR 2860. [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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