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[QUOTE="HFM, post: 199186, member: 32345"] [b]Date : 10th September 2021. Market Update – September 10 – USD Slips, Asian equities rally.[/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[/B] [LIST] [*]USD ([B]USDIndex[/B] 92.45) slips from highs as risk sentiment picks up as CB keep their foot on the pump. Biden & Xi had a “productive” 90min call, their first since February. [*][B]Yields[/B] down again from highs earlier in the week, (10yr 1.299%, from 1.37%). Oxford Economics expects 10yr rate to be at 1.7% by year end. [*][B]Equities stalled again [/B]– [B]USA500[/B] -20 (-0.46%) at [B]4493[/B] (Dow -0.43% & Nasdaq -0.25%). USA500.F [B]4504.[/B] ([B]AMZN & MSFT[/B] lost over 1% yesterday). Asian stocks jump, Nikkei at 6-month high (+0.5%) & JPY weaker re: Biden/Xi & Kono to stand (likely to be next Japanese PM). [*][B]USOil[/B] fell [B]$2[/B] to $[B]67.50 [/B]after inventories yesterday, now back to $[B]68.30. [/B]EIA inventories reported a -1.5m barrel vs -5.9m/b and -7 m/b last week. [*][B]Gold[/B] found support at [B]$1788[/B] and has recovered [B]$[B]1[/B]800 [/B]now, as the USD dipped. [*][B]Yesterday – [/B] [B]ECB[/B] – no surprises on rates talked of a “moderately lower pace for PEPP” still at 20bln euro. Ms. Lagarde “We are re-calibrating PEPP, not tapering” Another non-event. – [B]CLAIMS[/B] – a pandemic record low 310k, 4 week average 350k, BUT continuing long term claims increased to 2.8 mln. [*][B]Overnight[/B] – More taper talk from Fed members, Biden said all federal employees will need to be vaccinated. German CPI flat at 3.9%, UK GDP misses (0.1% vs 0.5%) Trade balance slips another 2bln into the red, worsens, Manu. prodn misses but Ind. Production beats. [/LIST] [B]European Open[/B] – The December 10-year Bund future is up 6 ticks, outperforming versus Treasuries and signalling further gains in Eurozone bonds, which already staged a relief rally on [B]Lagarde’s dovish leaning[/B] delivery of the slight taper in PEPP purchases. Rates are back in focus as the main signalling tool for the ECB’s policy stance and with the ECB’s newly tweaked guidance on the rate outlook that affirms a very dovish stance for the foreseeable future, markets clearly can live with a slight reduction in monthly purchase volumes. Interestingly, [B]Holzmann[/B] suggested that the outlook for Fed tapering put pressure on the ECB. DAX and FTSE 100 futures are up 0.2% and 0.4% respectively, futures are also higher after a strong session in Asia overnight, suggesting that stocks also weren’t phased by the well flagged ECB announcement. Growth optimism is stabilising again and central bank policies will remain supportive for a long time to come. [B]EURUSD[/B] flat at [B]1.1825, [/B]from a 40 pip, ECB range yesterday, GBP in demand, [B]Cable [/B]has rallied to [B]1.3850 [/B]from a low at [B]1.3750 [/B]yesterday. [B]USDJPY [/B]collapsed from [B]110.25[/B] to [B]109.62[/B] yesterday, recovering to [B]109.90[/B] now. [B]Today [/B]– [B]US PPI[/B], [B]Canadian Labour Market Report[/B], ECB’s [B]Lagarde[/B], Fed’s Daly, Mester [URL='https://analysis.hotforex.com/wp-content/uploads/2021/09/2021-09-10_09-53-39.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/09/2021-09-10_09-53-39.jpg[/IMG][/URL] [B]Biggest Mover[/B] @ (06:30 GMT) [B]NZDJPY (+0.35%) [/B] rallied from week low at [B]77.80[/B] earlier to [B]78.30[/B] now as sentiment improved, equities rallied and JPY demand cooled. Faster MA’s aligned higher, MACD signal line below 0 but rising, histogram just broke over 0. RSI 62 and rising, Stochs OB zone. H1 ATR 0.112, Daily ATR 0.576. [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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