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[QUOTE="HFM, post: 202404, member: 32345"] [b]Date : 7th December 2021. Market Update – December 7 – Equities and currencies gain as Omicron worries wane.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2021/11/covid2_1200x628.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/11/covid2_1200x628-696x364.jpg[/IMG][/URL] [LIST] [*]USD ([B]USDIndex 96.15[/B]) steady, as [B]Treasuries rose [/B]sharply on the improvement in risk appetite on expectations for an acceleration in QE tapering to be announced at next week’s FOMC meeting, and as the market set up for this week’s[B] $112 bln in coupon[/B] supply.[B] Stock market sentiment strengthened[/B] further overnight and the [B]GER30[/B] and [B]UK100[/B] are posting gains of 0.6% and 0.2% respectively, while a 0.7% rise in the [B]USA100[/B] is leading US futures higher. [*]The [B]RBA[/B] left policy settings unchanged, but sounded relatively optimistic on the virus front, which for some signalled that an [B]early exit from QE is on the cards.[/B] [*]Growing confidence that Omicron[B] won’t derail the global recovery[/B], but that also means that central banks remain on course to rein in stimulus as new virus restrictions will likely add to inflation pressures. [*]Today’s released[B] UK BRC retail sales were stronger[/B] than expected, but may be distorted by warnings that consumers should bring forward Christmas shopping in the light of supply chain disruptions, which could worsen over the winter. [*][B]US Yields[/B] 10-year rate lifted 1.7 bp to 1.45% overnight, [B]JGB[/B] rates are up 1.7 bp at 0.051% as stock market sentiment continued to improve. [B]Australia’s[/B] 10-year jumped 6.5 bp to 1.64%. [*][B]USOil[/B] – higher above 200-DMA at [B]$70.60 [/B]– [URL='https://www.reuters.com/markets/commodities/oil-extends-gains-easing-omicron-fears-iran-delay-2021-12-07/']concerns about the impact of the Omicron[/URL] variant on global fuel demand eased, while Iran nuclear talks stalled, delaying the return of Iranian crude. [*][B]FX markets[/B] – [B]EURUSD[/B] remains below the 1.13 mark, while [B]Cable[/B] is still below 1.33 as the FOMC decision comes into view. [B]USDJPY[/B] lifted to 113.72, but currently 113.58. [/LIST] [B]European Open[/B] – The March 10-year Bund future is down -50 ticks, [B]underperforming versus Treasuries[/B] and leaving[B] Bund yields to jump sharply[/B] in catch up trade, after Treasury yields continued to move higher through the Asian session. [B]Today [/B]– The calendar has Eurozone detailed GDP numbers for Q3, but the focus will be on German ZEW investor confidence. In the US session, we have US trade and productivity and Canadian Ivey PMI. [URL='https://analysis.hotforex.com/wp-content/uploads/2021/12/2021-12-07_09-53-24.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2021/12/2021-12-07_09-53-24.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]EURAUD (-0.41%) [/B]Currently MAs are aligned lower, MACD signal line & histogram below 0 and dipping, RSI sloping to 26, Stochastic declines. H1 ATR 0.00226, Daily 0.01442. [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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