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[QUOTE="HFM, post: 197328, member: 32345"] [b]Date : 12th July 2021. Market Update – July 12 – A cautious start for equities.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1-696x391.jpg[/IMG][/URL] [B][U]Market News Today[/U] – [/B]Wall Street ended the week in a positive mood & investors continue to [U]buy equities at the start of this week.[/U] [B]Hopes of ongoing central bank support are supporting the long end as virus developments see investors trim growth & inflation expectations.[/B] China’s central bank cut the reserve requirement ratio, as flagged in advance last week. The[U] liquidity sensitive ChiNext saw the highest level since June 2015[/U] & the offshore yuan nudged higher. Japanese markets outperformed; JPN225 gained 2.2%. [B]Japan core machine orders jumped 7.8% m/m[/B] in May, much more than anticipated & the third straight month of improvement, despite tightening virus restrictions. Virus developments continue to impact the annual rate, but the sharp acceleration in the monthly rate compared to the 0.6% m/m rise in April is encouraging. The 10-year Bund is swinging between gains & losses, while peripheral bonds are moving higher & spreads narrow. [U]Curves are flattening as the long end outperforms.[/U] Equities meanwhile are finding a footing & [B]GER30[/B] is fractionally higher after paring earlier losses. [B]UK100[/B] is still in the red but up from earlier lows, [B]USA100[/B] future is also marginally higher, indicating that investor appetite has already turned cautious again as markets keep a very close eye on virus developments [B]as the Delta variant spreads through Europe[/B]. The [B]latest surge started in the UK[/B], which continues to see very high daily infection numbers & now also a pick up in hospitalisations. [B]Germany’s numbers remain much, much lower,[/B] but have also started to creep higher amid concern that developments will derail plans to[B] re-open much of Europe for the summer[/B]. [B][U]Overall, we don’t expect the recovery to be derailed & that should see yields creeping higher at some point, even if central banks remain very cautious for now[/U][/B]. [B][U]Today [/U][/B]– It will be a slow start to the week, with a lack of key releases and likely focus on virus developments. The [B]earnings season[/B] also kicks off with [B]JPMorgan, Goldman, Citigroup[/B] and [B]Wells Fargo[/B]. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/07/2021-07-12_09-56-42.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/07/2021-07-12_09-56-42-1024x654.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:00 GMT) XAUUSD (-0.40%). Gold prices eased on Monday as a slightly stronger dollar and buoyant equities dimmed the safe-haven metal’s appeal. [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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