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[QUOTE="HFM, post: 195572, member: 32345"] [b]Date : 20th May 2021. Market Update May 20 – USD gets reprieve, BTC Bounces.[/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]USD gets a reprieve from surprise FOMC minutes. [/B]Minutes showed “taper talk” was discussed much more than any participant held implied since the meeting. [B]USDIndex[/B] back over [B]90.00[/B]. Equities closed down -0.29%, [B]USA500[/B] [B]4115, [/B]despite robust earnings from [B]Lowes & Target, CISCO [/B]disappointed, after hours. Asian markets follow lower. [B]Overnight –[/B] [B]AUD[/B] unemployment mixed, JPY machine Orders better, trade flat. [B]This week [/B]– Economic data slim, [B]FOMC Minutes[/B], [B]Earnings[/B] from Walmart (Beat), Vodafone (in-line), Home Depot (beat), Target (beat), Lowes (beat) Cisco (miss). Still to come today – Applied Materials & Ralph Lauren. [B]EUR –[/B] down from 3-mth highs at [B]1.2240 [/B]under 1.2200 to 1.2185, [B]JPY[/B] still struggles at [B]109.00[/B], [B]Cable[/B] back under [B]1.4200 and 14100 [/B]now. [B]AUD[/B] back to [B]0.7750, CAD [/B]up from 6-year lows to [B]1.2100. USOIL[/B] edges back up after yesterdays sell-off from under $62.50 to [B]$63.50[/B], [B]Gold –[/B] rallied to 3.5 mth high to test key resistance at [B] $1875,[/B] again trades at $1874. Commodities cooled but remain robust. [B]BTC [/B]sank under[B] $30,000, [/B](& lost -54% from peak last month) – back to [B]$40k[/B] now. All from Musk & “China banned its financial institutions from offering cryptocurrency registration, trading, clearing, and settlement in a blow to investors who were betting that digital assets will gain mainstream status.” Reuters. [B] European Open[/B] – The June 10-year Bund future is down -15 ticks, underperforming versus U.S. futures, which have moved slightly higher, while in cash markets the 10-year Treasury rate is down -0.2 bp at [B]1.67%[/B]. The reading is up from overnight lows though, as stock market sentiment started to stabilise during the Asian part of the session and DAX and FTSE 100 futures are posting gains of 0.6% and 0.9% respectively. U.S. futures have moved sideways after a weaker close on Wall Street and against the background of the Fed minutes, which suggested that some policy markets have at least started to think about tapering “some point”. For now though [B]the official line at central banks is that the uptick in inflation is transitory[/B] and ECB’s Schnabel, who predicted a German CPI rate of over 3% later in the year, said that inflation is likely to recede again in 2022. [B]Today[/B] – [B]US Initial Job Claims[/B], [B]Philadelphia Fed[/B] Business Index, [B]SARB rate decision[/B], ECB’s Lane, [B]Lagarde[/B], BoE’s Cunliffe, Fed’s Kaplan, [B]Earnings[/B] from [B]Applied Materials & Ralph Lauren[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2021/05/2021-05-20_09-59-03.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/05/2021-05-20_09-59-03.png[/IMG][/URL] [B]Biggest FX Mover @ (07:30 GMT)[/B] [B]AUDCHF [/B](+0.34%) rallied from under [B]0.6961, [/B]yesterday to[B] over 0.7005 [/B]now. Faster MAs remain aligned higher, RSI 60 & moving higher, MACD histogram & signal line aligned higher having broke 0 line earlier. Stochs rising and in OB zone from earlier. H1 ATR 0.0011, Daily ATR 0.0051. [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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