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[QUOTE="HFM, post: 200562, member: 32345"] [b]Date : 18th October 2021. Market Update – October 18 – China Slows – Risk-Off to start the week.[/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] [LIST] [*]USD ([B]USDIndex 94.10[/B]) holds at highs, [B]Weak data from China[/B] (Q3 [B]GDP 0.2%[/B] vs 0.5% & Ind. Production [B]3.1%[/B] vs 4.5%) Big misses, [B]Risk-Off tone to start the week.[/B] [B]Oil[/B] continues to move higher testing key technicals – [B]Yields the driver[/B] (again) US [B]10yr[/B] at [B]1.6%. NZD[/B] moves higher[B] –[/B] (CPI [B]2.2%[/B] vs. 1.4% & [B]Services PMI’s[/B] [B]46.9[/B] vs 35.6) Auckland lockdown extended. [*]PBOC breaks silence on [B]Evergrande -“[/B]can contain contagion”: Risks are (1) other Real Estate Co’s & (2) Wider Economy. [*][B]US Yields[/B] (10yr closed [B]1.576%[/B]) now at [B]1.60% [/B]in Asian trades. [*][B]Equities moved strongly higher into close. USA500[/B] +33.0 (+0.75%) at [B]4471 (Dow [/B]+1.0%) – Big movers AMZN & MasterCard +3.3%, TSLA +3.0% & BAC +2.8%, FB -1.15%, MRNA -2.31%. USA500.F dips to [B]4446.[/B] Asian equities lower on China news. [B]VIX[/B] closed -2.56% at [B]17.00 [/B](8 week low) – trades up at [B]17.35[/B] now. [*][B]USOil[/B] back to test new [B]7-yr highs[/B], trades at [B]$82.75.[/B] [*][B]Gold[/B] slipped on higher yields down to [B]$1763[/B] now from Thursday’s test of [B]$1800.[/B] [*][B]FX markets USD remains bid[/B] – [B]EURUSD[/B] [B]1.1573 Cable[/B] holds [B]1.3720 [/B]([B]Bailey[/B] ‘will have to act’ to curb inflation) & [B]USDJPY[/B] higher again at [B]114.25[/B]. [/LIST] [B]Week Ahead – Inflation[/B] and [B]PMI data[/B] dominate the economic releases, [B]Earnings[/B] highlights include: Johnson & Johnson, Procter & Gamble, [B]Netflix[/B], (Squid Games to add $900m in Revenue?) Verizon, IBM, Intel, [B]Tesla[/B], (Musk joined 200+ VW exec’s over weekend) & AT&T. [B]European Open[/B] – The December 10-year Bund future is down -53 ticks at 169.05, underperforming versus Treasury futures and pointing to another sharp rise in cash yields at the start of the session. Comments from BoE’s [B]Bailey[/B], will add to pressure in the European part of the session. UK money markets are [B][I]increasingly pricing in a move from the BoE this year,[/I][/B] which is leaving bond market traders worrying about stagflation risks. [B]DAX and FTSE[/B] [B]100[/B] futures are currently down -0.1%. [B]Today [/B]– US Industrial Production, Fed’s Quarles, BoC’s Lane, & BOE’s Cunliffe. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/10/2021-10-18_09-54-14.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/10/2021-10-18_09-54-14.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]USDCAD (+0.28%) [/B]Rallied from [B]1.2335 [/B]lows on Friday to test[B] 1.2400 [/B]now.[B] [/B]Faster MAs aligned higher, MACD signal line & histogram trending higher & over 0 line, RSI 64.00 & moving higher, Stochs. 95 and OB. H1 ATR 0.0012, Daily ATR 0.00826. [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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