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[QUOTE="HFM, post: 207634, member: 32345"] [b]Date : 29th April 2022. Market Update – April 29.[/b] [URL='https://analysis.hotforex.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1-696x391.jpg[/IMG][/URL] [B]Risk appetite surged as optimism over earnings more than overshadowed concerns over the 8% pop in the y/y GDP price gauge and the -1.4% print on Q1 GDP. The contraction in growth was seen as a one-off, however, due to trade disruptions limiting supply alongside a surge in demand following the pandemic, with inventory drawdowns contributing negatively too. Stock markets remained supported overnight,[/B] with hopes of support measures in China helping to underpin sentiment, after China vowed to underpin the health of so-called platform firms. Meanwhile, the pick-up in core [B]PCE inflation[/B] to a 5.2% y/y pace from 5.0% y/y was also seen on the light side and hence supported notions that prices may be topping out. [B]European Fixed Income Outlook:[/B] Bund yields are down -2.5 bp at 0.87% in early trade, with Eurozone bonds paring some of yesterday’s losses and yields coming down as the unexpected stagnation in French GDP at the start of the year highlighted that there are still reasons for the ECB to remain cautious even as inflation is going through the roof. [B]German import price inflation jumped to 31.2% y/y[/B] in March, from 26.3% y/y in the previous month. [LIST] [*][B]Yields[/B] are coming down from yesterday’s highs. The [B]2-year[/B] yield rose over 5 bps to test 2.68% and the [B]10-year[/B] challenged 2.90% before drifting back to 2.63% and 2.85%, respectively. [*][B]Stocks[/B] – [B]GER40[/B] and [B]UK100[/B] futures are up around 1.0%, [B]USA100[/B] soared 3.06% on the day, with the [B]USA500[/B] 2.47% higher, while the USA30 climbed 1.85%, but all off of late peaks. [B] Japan is closed for a holiday[/B], the ASX up 1.1% at the close. [*][B]Earnings[/B] – Meta shares surge after Facebook ekes out user growth; Qualcomm rises after it forecasts upbeat revenue; Apple Inc, the world’s most valuable company, and e-commerce giant Amazon.com Inc rallied more than 4% ahead of their quarterly reports later in the day. [*][B]USDIndex[/B] lost some of its recent gains, currently at [B]103.15[/B]. [*][B]Oil at $106.42. [/B]Oil prices meanwhile moved higher as overall confidence improved and fears over China’s Covid measures eased somewhat. [*][B]Gold [/B]back above [B]$1900.[/B] [*][B]FX markets[/B] – [B]EUR[/B] and [B]Sterling[/B] also found some buyers, but while [B]EURUSD[/B] and [B]Cable[/B] are up from yesterday’s lows, they are still looking pretty weak at currently [B]1.0548[/B] and [B]1.2530[/B] respectively. [B]USDJPY[/B] still held above the [B]130.[/B] [/LIST] [B]Today [/B]– German and Eurozone GDP are still to come and Eurozone inflation data are also due, while in the US session eyes are on PCE and Canadian GDP. Exxon and Chevron earnings on tap. [URL='https://analysis.hotforex.com/wp-content/uploads/2022/04/2022-04-29_10-01-41.jpg'][IMG]https://analysis.hotforex.com/wp-content/uploads/2022/04/2022-04-29_10-01-41.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]XAGEUR [/B](+1.27%) breached [B]22.20.[/B] MAs pointing higher, MACD signal line & histogram turned positive, RSI at 62, all signalling further boost in the near term. H1 ATR 0.077, Daily ATR 0.509. [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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