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[QUOTE="HFM, post: 195322, member: 32345"] [b]Date : 13th May 2021. Market Update – May 13 – Inflation jump keeps trading nervous.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2021/05/arrows2_1200x628.png.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/05/arrows2_1200x628.png-696x364.jpg[/IMG][/URL] [B]Market News Today[/B] –Despite warnings from policymakers, the jump in prices will keep trading nervous. Central bank officials remain adamant that the inflation overshoot that will likely be mirrored in the UK and if not the Eurozone then Germany, is mainly due to base effects and should be transitory, but stocks at least are not so convinced. [B]The surge in April CPI weighed heavily on Treasuries and the jump in yields knocked Wall Street sharply lower.[/B] The spike in CPI stole the show this week, though the Fed and indeed global monetary authorities have warned about rising inflationary pressures, the 0.8% jump in the headline and 0.9% surge in the core elicited heavy selling. Wall Street is on its heels with the [B]USA100[/B] falling -2.67% and the [B]USA500[/B] and [B]USA30[/B] tumbling -2.14% and -1.99%, respectively. The Treasury’s 10-year auction was very well bid, [B]though at the highest yield in over a year. Bond markets across Asia sold off[/B] in catch up trade. [B]BoJ’s Kuroda[/B] joined the chorus of central bank officials playing down the spike in inflation as mainly due to base effects, but that didn’t prevent a further sell off in Asian stock markets. [B]Asian[/B] equity markets remained under pressure after the sell off on [B]Wall Street[/B] yesterday and [B]European[/B] stock futures are also lower, with [B]GER30[/B] and [B]UK100[/B] down -0.6% and -0.8% respectively in catch up trade, after still closing higher on Wednesday. In FX markets, the [B]USDJPY[/B] is little changed at 109.68. [B]AUD[/B] and [B]NZD[/B] underperformed. [B]EURUSD[/B] and [B]Cable[/B] are little changed at currently 1.2074 and 1.4055 respectively. [B]USOIL[/B] is at the $65.37 area. [B]Bitcoin[/B] slumped and then recovered somewhat, after Elon Musk tweeted that Tesla Inc has suspended vehicle purchases using the digital currency due to environmental concerns. [B]Today[/B] – Scandi and Swiss markets are closed and many countries are either celebrating Ascension Day or end end of Ramadan, which will likely make for quiet trading conditions. On tap we have US Jobless Claims and speeches from BoC Macklem and BoE Bailey. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/05/2021-05-13_10-54-53.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/05/2021-05-13_10-54-53-1024x841.jpg[/IMG][/URL] [B]Biggest (FX) Mover @ (07:30 GMT) EURAUD[/B] (+0.29%)[B] spiked higher above R1 [/B]breaking the upper BB line and retesting the nearly 3-months Resistance, at [B]1.5700[/B]. Intraday the MAs aligned higher while RSI is at 71 but flattened and MACD is also positively configured suggesting a positive to neutral outlook. ATR (H1) at 0.00231 & ATR (D) at 0.00993. [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] Andria Pichidi 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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