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[QUOTE="HFM, post: 206998, member: 32345"] [b]Date : 13th April 2022. Market Update – April 13 – Inflation & Earnings come into focus.[/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]Yields [/B]lost their bid, [B]USD[/B] held onto gains, [B]Stocks[/B] were lifted by the hot US [B]CPI[/B] headline data, (new 40-yr high at [B]8.5%[/B]) only to close the day in the red as the [B]CORE[/B] figure missed and suggested the top for inflation may be coming sooner than expected. [B]JPY [/B](weak data) & [B]EUR[/B] (Putin saying talks at “dead-end”). [B]NZD[/B] jumped as [B]RBNZ[/B] raised rates by 50bp (largest in 22-yrs). [B]Oil[/B] recovered $100, [B]Gold[/B] moved higher again. [LIST] [*][B]Stocks[/B] closed marginally lower after strong start. Asia markets stronger ([B]Nikkei[/B] [B]+1.68%[/B]) & UK & European FUTS marginally higher [*][B]Yields[/B] rally cooled, 10-yr from top at 2.836% to close at [B]2.727%[/B] & now at [B]2.738%[/B]. [*][B]EUR[/B] fell again after Putin comments. [*][B]USD[/B] holds bid, [B]NZD[/B] broke 0.6900 briefly as [B]RBNZ[/B] said they were not changing their outlook, but just bringing forward rate hike cycle. [*][B]Oil [/B]continued to recover and holds over [B]$100 – [/B]Shanghai lockdowns ease further but record levels of new COVID infections nationwide. [/LIST] [B]Biden[/B] said Russia has committed Genocide, (additional [B]$750m[/B] military aid to Ukraine to come) [B]Putin[/B] said Russia will achieve its aims in Ukraine and that talks “have again returned to a dead-end situation for us”. [B]Johnson[/B] & [B]Sunak[/B] refuse to resign after being fined by the London Met. Police for breaking lockdown rules. More fines to come potentially. [B]Brainard, [/B](Fed Vice Chair), [B]Birkin & Bullard[/B] all agreed that aggressive rate hikes were required but disagree what happens afterwards. Brainard sees weaker inflation and a return to pre-pandemic conditions, Birkin & Bullard see inflation, particularly wage inflation, being “sticky” for much longer. [B]Overnight [/B]– [B]JPY [/B]Machine Orders & Money Supply miss significantly (-[B]9.8% [/B]vs.-1.5%). [B]China[/B] Trade Balance (surplus) more than [B]doubles, Exports [/B]beat,[B] Imports [/B]surprisingly fall. [B]UK [/B]Inflation at 30-yr high CPI, ([B]7.0%[/B]) CORE ([B]5.7%[/B]) RPI ([B]9.0%[/B]) & PPI [B]19.2% –[/B] all stronger than expected. [LIST] [*][B]USDIndex[/B] rallied to test new high [B]100.42[/B] , trades at 100.34 now. [*][B]US Yields[/B] 10-yr closed lower at [B]2.727%[/B], up again now to [B]2.824%.[/B] [*][B]Equities[/B] – [B]USA500[/B] -15.08 (-0.34%) at [B]4397. [/B](A breach of 4400)[B] – [/B] US500 FUTS [B]4418. [/B]TWTR[B] (-5.38%) [/B]– Earnings Season kicks off today. [*][B]USOil[/B] – Trades at [B]$100.30 [/B]following a rally to $102.00[B], [/B]Shanghai eases some lockdowns. [*][B]Gold[/B] – held $1950 yesterday and tested next resistance at $1975, back to [B]$1970 [/B]now. [*][B]Bitcoin[/B] continued to decline from key 45k to test 39k zone, recovered to [B]40k [/B]now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to test [B]1.0810[/B] earlier, (5-wk lows) now 1.0830. [B]USDJPY [/B]breaks [B]126.00[/B] to trade at [B]126.15[/B] and [B]Cable[/B] sinks back to test [B]1.2985 [/B]as USD bid continues and very hot inflation data weighs. [/LIST] [B]European Open [/B]– Asian stock markets mostly managed gains as markets digested US inflation data that weren’t quite as bad as feared, especially in the core reading. Mainland China bourses struggled though, as hope of easing virus restrictions faded and after trade data showed unexpected weakness in imports, which left the trade surplus higher than anticipated, but added to concern that [B]the domestic economy is struggling with the official “No-Covid” policy.[/B] The CSI 300 is currently down -0.3%, the Hang Seng up 0.6%, however, with tech stocks recovering. [B]Today [/B]– US [B]PPI[/B], New Zealand Manufacturing PMI, [B]BoC Policy Announcement[/B], IEA OMR, [B]Earnings[/B] from [B]BlackRock[/B], Delta Air Lines, [B]JPMorgan[/B]. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/04/2022-04-13_10-00-22.png'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/04/2022-04-13_10-00-22.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]EURNZD[/B] (+0.77%) Dipped to [B]1.5700 [/B]on RBNZ announcement, reversed quickly to test [B]1.5935[/B] now. Next resistance 1.5970 & 1.6000. MAs aligned higher, MACD signal line & histogram moving higher & over 0, RSI 68 & rising, H1 ATR 0.00357, Daily ATR 0.01640. [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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