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[QUOTE="HFM, post: 199878, member: 32345"] [B]Date : 29th September 2021. Market Update – September 29 – Asian shares set for their Worst Quarter.[/B] [URL='https://analysis.hotforex.com/wp-content/uploads/2018/12/uk_stock_exchange_1200x628-e1570776487295.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2018/12/uk_stock_exchange_1200x628-e1570776487295-696x305.png[/IMG][/URL] [B]Market News[/B] [LIST] [*][B]The surge in Treasury rates was a major catalyst behind the steep drop on Wall Street,[/B] though the looming debt limit and potential government shutdown on October 1, and more importantly the threat of default, weighed heavily on US assets. [*][B]China’s power crunch worsens. [/B] [*][B]Yields[/B] [B]stabilised [/B]([B]30-year[/B] closed to [B]2.10%[/B] and the [B]10-year[/B] hit[B] 1.565%[/B] before dipping late in the session as some dip buyers stepped forward). [*][B]The MSCI’s[/B] gauge of Asian stocks saw the biggest drop in almost six weeks and is set for the first quarterly slide in six. – [B]Evergrande[/B] concerns resurfaced as [B]China[/B] stepped in to buy a stake in a regional bank from the developer. Hong Kong’s central bank has reportedly asked lenders to [B]report their exposure[/B] to the Group and Fitch Ratings downgraded the developer’s rating to C from CC. [*][B]Testimony[/B] from Fed Chair Powell and Treasury Secretary Yellen did not do the markets any favors either but added to the overall uncertainties emanating from Capitol Hill. [*][B]Equities extended losses in Japan, JPN225 down -2.6%.[/B] [B]USA500 [/B]was off -2.0% at [B]4355, USA100[/B] paced the plunge in the indexes, tumbling [B]-2.8%,[/B] below [B]15,000[/B]. [B]USA30[/B] was -1.6% lower. [*][B]USOil[/B] dropped back below the $74 mark, after reaching a high of 74.87. [*][B]FX markets – GBP selling off sharply yesterday but steadied so far today [/B]– [B]USD corrected –[/B] [B]USDJPY – 110.33, Cable[/B] [B]1.3527, EURUSD 1.1677.[/B] [/LIST] [B]European Open[/B] – [B]Some stabilisation then for the beleaguered bond market and stocks are also showing signs of life,[/B] with [B]GER30[/B] and [B]UK100[/B] futures posting gains of 0.4% and 0.2% respectively, while US futures are up around 0.6%. After the sharp sell off in equity markets in recent days, [B]dip buyers were bound to emerge eventually – Will calm in bond markets last for long?[/B] – even if central bank officials will do their best to calm nerves this week. Unless the China risk escalates and spills ove,r monetary policy support is set to be phased out gradually over the next year and stocks will have to adjust to the changed outlook. [B]Today [/B]– Data releases today include UK lending data and Eurozone ESI economic confidence and there are also a number of speakers at the ECB’s conference on central bankers. Pending Home Sales from the US are also on tap. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/09/2021-09-29_09-57-57.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/09/2021-09-29_09-57-57.jpg[/IMG][/URL] [B]Asset of Interest: Cotton (+6.53% in September) [/B]Broke 101 barrier, posting a fresh record high, extending its rally for an 8th day in a row and breaking the upper daily BB line. Daily RSI at 73 while MACD line extended above 0 suggesting an increase of positive bias. [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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