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[QUOTE="HFM, post: 195692, member: 32345"] [b]Date : 24th May 2021. Market Update May 24 – Fear dominates.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2019/06/bitcoin_1200x628_2.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2019/06/bitcoin_1200x628_2-696x364.png[/IMG][/URL] [B]Market News Today[/B] – Consolidation generally ruled the day in bonds and stocks after some big swings in recent sessions. The focus remains on the robust recovery, the rise in inflation, virus spikes and widening distribution of vaccines, and the varying dimensions of all left the markets in limbo. Traders kept a close eye on volatile cryptocurrencies as [B]China[/B] reiterated its commitment to curb mining and trading. Bitcoin was savaged and is currently at $36.5k, after it was hurt in part by China’s crackdown on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks. China’s intensifying efforts to cool raw material prices were also in the mix, as were ongoing inflation concerns, which in turn fuelled lingering taper talk. Treasuries traded narrowly around unchanged levels with the 10-year yield either side of 1.625%. Wall Street continued to meander in back-and-forth action as investors mulled growth versus value positions. [B]GER30[/B] and [B]UK100[/B] futures are up 0.2% and 0.3% respectively, and US futures are also fractionally higher, after a pretty steady session in Asia. In FX markets the [B]Yen[/B] strengthened and [B]USDJPY[/B] dropped back to 108.70, while the Dollar was pretty steady against most other currencies. The [B]EUR[/B] and [B]GBP[/B] both steadied at [B]1.2190[/B] and [B]1.4150. [/B]The AUD traded near the lower end of its 5-week range as the country’s central bank is seen lagging global peers in tightening monetary policy despite a strong economic recovery. It is currently at 0.7735. [B]USOIL[/B] meanwhile is trading at USD [B]64.05[/B] per barrel. [B]Today[/B] – Whit Monday/Pentecost holidays in parts of the continent will likely weigh on activity. [B]The only key events of the day are Gov. Kuroda and Gov. Bailey speeches.[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2021/05/Untitled-6.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/05/Untitled-6.png[/IMG][/URL] [B]Biggest FX Mover @ (07:30 GMT) USDJPY[/B] (-0.51%) declined from [B]109.00 [/B]to 108.70. Faster MAs remain aligned lower, RSI 38 pointing lower, MACD histogram turned negative but signal line holds positive, suggesting that there is still some negative bias in the near term. H1 ATR 0.0665, Daily ATR 0.5566. [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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