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[QUOTE="HFM, post: 203474, member: 32345"] [b]Date : 7th January 2022. Market Update – January 7 – Yields dominate sentiment.[/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]Risk aversion recedes – Stocks[/B] stabilize but it’s all about the [B]Yields[/B] & sharp rise in short-term 2-yr in particular. USD softer again, Oil rallies, Gold & BTC sink again. Key FED hawk [B]Bullard,[/B] talked of actual [B]rate hikes[/B] as early as[B] March[/B] & that inflation will remain over 3% for all of 2022. Claims missed a tad at 207k vs 200k but remain in strong downtrend, but Services PMI’s missed significantly (62 vs. 67 & 69.1 prior). Another Chinese real estate developer ([B]Shimao[/B]) missed bond payments. [LIST] [*]USD ([B]USDIndex[/B] [B]96.20[/B]) slips but holds gains supported by higher yields – pressuring the commodity complex in particular. [*][B]US Yields[/B] 10-yr rocked up AGAIN to close at [B]1.733% [/B]trades at [B]1.72%[/B] now. [*][B]Equities[/B] – [B]USA500[/B] -4.53 (-0.10%) at [B]4696 [/B]as value & cyclical stocks gained and growth stocks pressured. [B]USA500[/B] FUTS now [B]4700[/B]. [*][B]USOil[/B] – has spiked over [B]$79.00[/B] trades at [B]$79.75 – [/B]3 key drivers [B]– [/B](i) further unrest in [B]Kazakhstan[/B] (Govt removed cap on fuel & heating oils on Jan 1 – prices have rocketed & Russia have sent troops! (ii) Supply cuts in Libya & shutdowns in Canada (iii) Tight inventories. [*][B]Gold[/B] – down under [B]$1800 [/B]again to test support at [B]$1788[/B]. [*][B]Bitcoin[/B] sinks to test next support at [B]42,000[/B] now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to [B]1.1300[/B], [B]USDJPY [/B]under [B]116.00[/B] at 115.85,[B] Cable[/B] back to 1.3545 from [B]1.3500.[/B] [/LIST] [B]Overnight – JPY data – weaker, German Industrial Production missed European Open[/B] – The March 10-year Bund future is fractionally higher as are US Treasury futures. [B]DAX and FTSE 100 futures are posting gains of 0.04% and 0.16%[/B] respectively. Markets are waiting for key US payroll numbers in the afternoon, which will be an important piece of the puzzle for the increasingly hawkish Fed. In Europe the calendar is also pretty busy with trade and production numbers for Germany, consumer spending data for France and preliminary inflation numbers and the latest ESI economic sentiment reading for the Eurozone. Overall the data is likely to support the [B]hawkish camp at the ECB[/B] and after Lagarde committed to keep net asset purchases going for most of this year, it will likely become clear that the ECB is falling behind the curve, as Omicron is unlikely to derail the global recovery. [B]Today [/B]– UK Construction PMI, EZ CPI (Flash), Economic Sentiment, [B]US[/B] & Canadian [B]Labour Market Reports[/B], Fed’s Barkin, Bostic & Daly. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/01/2022-01-07_10-30-58.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/01/2022-01-07_10-30-58.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]GBPAUD (+0.18%) [/B]Rallied from [B]1.8640[/B] lows on Wednesday to [B]1.8940[/B] now. MAs aligned higher, MACD signal line & histogram lower but well above 0 line. RSI 73 OB but still rising, H1 ATR 0.00198 Daily ATR 0.01000. [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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