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[QUOTE="HFM, post: 201425, member: 32345"] [b]Date : 11th November 2021. Market Update – November 11 – Boom goes the Greenback.[/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 94.86[/B]) spiked to 94.96 (July 2020 high). [B]US Inflation at 30-yr high[/B] – [B]USD & Gold[/B] rocket, [B]Yields[/B] rise and [B]stocks[/B] sink. Weekly Claims in-line at pandemic lows. Musk has sold $5bln of [B]#TSLA[/B] stock this week, (3% of the 10%) TSLA closed +4.34% yesterday. [B]US & China[/B] agree surprise pact at [B]COP26, Biden[/B] has a plan to “reduce high energy costs”. Overnight – [B]AUD[/B] jobs & [B]GBP[/B] [B]GDP[/B] both missed & UK Industrial & manu. data also weak. [*][B]Evergrande $148m[/B] interest payment was [B]PAID[/B] – avoiding immediate default. Next payment due December 28 – [B]$255m. [/B]They have total debts of [B]$300bln[/B] ($19bln due outside of China). [*][B]US Yields[/B] (10yr rallied to close up at [B]1.56%, [/B]a 7-week high, from the a 6-week low at [B]1.4150 [/B]Tuesday. [B]Treasury markets closed today for Veterans Day. [/B] [*][B]Equities[/B] down in worse day in a month. [B]USA500[/B] -38.5 (-0.82%) at [B]4646[/B] – Big movers; TSLA +4.34%, PFE +3.64%, Ford -3.78% GOOGL -2.03%. [B]Disney[/B] missed (DIS+ subscriptions & Theme parks) – 4.5% after hours. [B]USA500.F[/B] trades lower at [B]4650[/B]. Asian equities weaker ([B]ASX[/B] worst – [B]Nikkei[/B] actually +ve on weak JPY) . [*][B]USOil[/B] – off 7-year highs on Biden’s comments – Inventories – a smaller build than expected 1.0 m vs 1.6m & 3.3m last week – USOil fell to [B]79.50. [/B]Trades at [B]$80.00 [/B]now. [*][B]Gold[/B] recovers further testing as high as [B]$1870 [/B]yesterday (5-mth high) as Inflation hedge trade builds, back to [B]$1856[/B] now. [*]FX markets – [B]EURUSD [/B]down to [B]1.1470[/B], [B]USDJPY[/B] back over [B]114.00, [/B]& [B]Cable [/B]back to [B]1.3385[/B]. [B]AUD & NZD[/B] at 5-wk low. [/LIST] [B]European Open[/B] – December 10-yr Bund future is down -31 ticks at 170.38; That will leave European markets to continue to digest yesterday’s hot US inflation number & continue to adjust [B]rate hike expectations, which have come back with a vengeance.[/B] The spike in bond market volatility over the past month highlights that central bankers need to adjust their communication policy as the rate cycle turns & that repeating the mantra that inflation pressures will be temporary are no longer enough to soothe nerves. [B]DAX & FTSE 100 futures[/B] currently down -0.2% and up 0.1% respectively. [B]Today [/B]– OPEC MOMR, ECB’s Lane, Schnabel,- [B]US & CAD Veterans Day[/B] (Bond markets & Banks closed). [URL='https://analysis.hotforex.com/wp-content/uploads/2021/11/2021-11-11_09-59-56.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/11/2021-11-11_09-59-56.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NZDUSD (-0.36%) [/B] Collapsed from [B]0.7100[/B] to [B]0.7030 [/B]so far. Faster MAs aligned lower, MACD signal line & histogram falling & under 0 line, RSI 25 & still falling. H1 ATR 0.0011, Daily ATR 0.0062. [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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