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[QUOTE="HFM, post: 204331, member: 32345"] [b]Date : 3rd February 2022. Market Update – February 3 – Stocks gain, FX awaits BoE & ECB.[/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] Stock markets closed higher after a weak start (S&P500 +0.94%) Mixed [B]PMI[/B] data, a huge miss (-301k) for [B]ADP[/B] & record [B]CPI[/B] (5.1%) in Europe hung on sentiment. Asia markets struggled too. Weak earnings from Meta, Spotify and a -24% decline for PayPal. [B]USD[/B] & [B]Yields consolidate, Oil [/B]holds on to gains & [B]Gold[/B] holds over $1800. Biden ordered 3000 troops to Eastern Europe. China, Hong Kong and other markets remained closed for the Lunar (Tiger) New Year holidays. [LIST] [*]USD ([B]USDIndex[/B] [B]96.10[/B]) up from 95.77 low, 96.00 remains a key level [*][B]US Yields[/B] 10-yr closed at [B]1.766 [/B]& trades at [B]1.766%. [/B] [*][B]Equities[/B] – USA500 +43 (+0.94%) [B]4589[/B] – ([B]PYPL[/B] -24.59%, [B]GOOG[/B] +7.45%) [B]USA500[/B] FUTS slip [B]4538[/B]. META lost +20% after hours, [*][B]USOil[/B] – Spiked over $88.00 on OPEC+ maintaining 400k/day output. Now [B]$86.32 [/B]after inventory drawdown [*][B]Gold[/B] – topped at [B]$1810 [/B]back to [B]$1802 [/B]now. [*][B]Bitcoin[/B] remains under [B]$40,000[/B] back to test [B]$37,000[/B] [*][B]FX markets[/B] – [B]EURUSD [/B]up to [B]1.1295 USDJPY [/B]up to [B]114.60 [/B]& [B]Cable[/B] to [B]1.3550 [/B] [/LIST] Overnight[B] – Japan [/B]Services PMI missed, Large rise in[B] AUD [/B]Imports, & Building Approvals. [B]European Open[/B] – The December 10-year Bund future is up 6 ticks at 168.72, slightly outperforming versus Treasury futures, as risk aversion picks up again amid disappointing reports from tech bellwethers that weighed on stock market sentiment. [B]DAX and FTSE 100[/B] futures are down -0.4% and -0.3% and a -2.3% sell off in the [B]NASDAQ[/B] is leading US futures lower. European markets closed mixed though yesterday, after another record setting inflation report for the Eurozone put pressure on the ECB ahead of today’s announcement. Final services PMIs for the Eurozone and the UK are likely to highlight that virus developments continued to weigh on the sector at the start of the year, but officials are increasingly optimistic that economies will bounce back quickly from the most recent virus variant. Against that background, the [B]spike in inflation[/B] is starting to look worrying, especially as labour markets continue to tighten. The [B]BoE[/B] is widely expected to deliver another rate hike today, while the [B]ECB[/B] could well sound more hawkish than some expect. [B]Today [/B]– EZ, UK & US Services PMI, Weekly Initial Claims, Factory Orders & ISM Services PMI, [B]BoE[/B] & [B]ECB[/B] [B]Earnings[/B] [B]Amazon[/B], Eli Lilly, Biogen, ConocoPhillips, Penn, [B]BT, Shell[/B], Nokia, [B]ING[/B], Infineon. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/02/2022-02-03_10-27-05.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/02/2022-02-03_10-27-05.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NZDCAD (+0.30%) [/B]Rallied from key [B]0.8380[/B] to [B]0.8415 [/B]now. MAs aligned higher, MACD signal line & histogram rising but under 0 line, RSI 58 & rising, H1 ATR 0.0012 Daily ATR 0.0059. [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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