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Date : 15th September 2022.

Market Update – September 15 – USD Holds at Highs, Stocks Flat.


Trading Leveraged Products is risky

*USDIndex – Remains bid and back to test 109.85. US Mortgages over 6%, (Highest since 2008), 2/30yr. yields most inverted since 2000. 2/10’s 45 pts inverted. INFLATION the only story in town. Key next week will be the Fed’s new forecasts, and especially the dot plot and what it suggests about the terminal rate. Fed funds futures point to about a 4.4% rate in early spring.
*EUR – Trades at 0.9964 now and remains capped by Parity 1.0000 resistance. Lane yesterday suggested that another 75 bp rate hike is not a done deal. EU is looking for $140 billion for Winter Energy support.
*JPY BOJ intervention not imminent. Katayama: Japan lacks effective means to combat Yen’s sharp falls . USDJPY back to 143.75, 145.00 remains vital resistance.
*GBP back to key 1.1500 support zone now, having rejected 1.1600 yesterday.
*Stocks US stocks held at lows and remain subdued after Tuesdays bloodbath.(S&P500 +0.34% 13pts 3946) FUTS trade at 3965. Starbucks +5.53%, TSLA +3.59%. NASDAQ best performer (+0.74%) Asian stock markets also weak and European FUTS also flat.



*USOil topped at $90.00 yesterday and trades at $88.30 now. 20-day moving average sits at $89.00.
*Gold – remains anchored under $1700 trades at key $1688 now.
*BTC – slumped to $19.5k but holds at $20k now. Ethereum PARIS Merge successful this morning.

Overnight & Today – US Philly Fed, US Retail Sales, Speech from ECB’s de Guindos.



Biggest FX Mover @ (06:30 GMT) USDJPY (+0.39%) The BOJ intervention gossip & weak data not aiding the YEN yet. Rallied from 142.50 lows yesterday to 143.70 now 145.00 remains key resistance. MAs aligning higher, MACD histogram & signal line negative but rising, RSI 57.50, H1 ATR 0.227, Daily ATR 1.632.



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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer: 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.

Date : 16th September 2022.

Market Update – September 16 – Dollar & Yields firmer, Stocks Gold & Oil weaker.


Trading Leveraged Products is risky

*USDIndex – Remains bid and back to test 109.60. Data released yesterday was mixed (positive Retail Sales and Claims, mixed Trade data and Manufacturing from Empire State & Philly Fed) but solid enough not to dissuade the Fed. A 75 bp boost is a done deal on Wednesday, with the risk for a 100 bp hike now 24%. And the Fed is likely to increase rates over the rest of the year to hit a 4.04% upper band in December and peak at 4.4% early 2023. In January the 10-yr yield was 1.77%, closed yesterday at 3.459%, just shy of June’s 3.47% high.
*EUR – Trades at 0.9978 now and remains capped by Parity 1.0000 resistance.
*JPY – More intervention chatter, Suzuki: concerned about one-sided yen weakening. USDJPY back to 143.60, 145.00 remains vital resistance.
*GBP broke below key 1.1500 support zone, 1.1420 now, as Retail Sales disappoint adding to the cost of living crisis.
*Stocks US stocks moved lower and remain pressured after Tuesdays bloodbath.(S&P500 -1.13% -44.66pts 3901) FUTS trade below key 3900 at 3892. Adobe -17%, MFST -2.70%, NFLX +5.02%. NASDAQ worst performer (-1.43%). Asian stock markets also sank (Nikkei -1.11% & Shanghai Comp. -1.97%) – Chinese property sector remains weak but strong Retails Sales and key August indicators were better-than-expected. European FUTS lower, FTSE100 FUTS – a tad higher on weaker sterling.



*USOil plunged over 4% to $84.35 lows, from a test of $90.00 on Wednesday. Trades at $85.40 now.
*Gold – also plunged below key support areas at $1688 and $1680, to $1658 (April 2020 lows) now.
*BTC – slumped to $19.4k and trades at $19.7k now. Ethereum PARIS Merge successful yesterday but he coin lost -5% and trades at $1468 today.

Overnight & Today – EU Final CPI, UoM Consumer Sentiment & Inflation Expectations, Quadruple Witching, Speeches from ECB’s Lagarde & Villeroy.



Biggest FX Mover @ (06:30 GMT) GBPUSD (-0.46%) Weak UK Retail Sales adds to Sterling’s woes. Sank under vital 1.1500 yesterday to 1.1418 now. MAs aligning lower, MACD histogram & signal line negative & falling, RSI 27.50 & OS, H1 ATR 0.00158, Daily ATR 0.01188.



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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head Market Analyst
HFMarkets

Disclaimer: 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.

Date : 19th September 2022.

Market Update – September 19 – Big central bank week; Risk of a super-sized hikes!


Trading Leveraged Products is risky

*USDIndex – Remains bid, holding above 109. The surprisingly hot August CPI report generated a sea-change in policy outlook, while housing starts and existing home sales will be tracked. The housing sector has been a major casualty of the FOMC’s tightening policies. Starts are seen rebounding slightly to a 1.450 mln clip after tumbling -9.6% to 1.446 mln in July. Existing home sales are projected dropping to a 4.685 mln rate following July’s decline to 4.810 mln. A 75 bp boost is a done deal on Wednesday.
*EUR – Trades at 0.9976. Recession risks are increasingly palpable in Europe.
*JPY – down 0.2% at 143.21 – verbal interventions effect in the yen has faded this week.Strong resistance at 145. Japan is on holiday today & Friday. BoJ is expected to maintain the accommodative stance & stick with massive stimulus .
*GBP just under the 1.14 mark. Markets are split on whether the BOE will raise rates by 50 or 75 bps on Thursday and to the government’s fiscal plans as Chancellor Kwarteng is set to unveil a “mini-budget” on September 23. The energy package aside, Kwarteng is expected to unveil cuts to National Insurance payments and the reversal of plans to increase corporation tax from 19% to 25%in April. PM Truss is also preparing a post-Brexit deregulation push and hopes that her measures will boost growth sufficiently to allow the financing of measures in the medium term.
*Stocks in red with ASX and Nikkei lost -0.3% and -1.1% respectively, while Hang Seng and CSI 300 are down -1.3% and -0.5% at the moment. Reports that the Chinese city of Chengdu reopened after lifting a two-week lockdown and a liquidity injection from the PBOC may have helped to put a floor under mainland China bourses at least. The GER40 future is fractionally lower, US futures underperforming, led by a –0.8% correction in the USA100. UK markets will remain closed today for the late Queen’s funeral.
*USOil – at $83.83 next support at $80.
*Gold – slipped on Monday, at $1661 pressured by a strong USD.
*BTC – retests 3-month low at mid $18500 area.



Overnight & Today - EU Construction Output & Japanese CPI.



Biggest FX Mover @ (06:30 GMT) BTCUSD (-4.72%) Sank to 3-month low at 18400 area. MAs aligning lower, MACD histogram & signal line negative & falling, RSI 21, H1 ATR 231.98, Daily ATR 1112.90.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 20th September 2022.

Market Update – September 20.


Trading Leveraged Products is risky

*USDIndex – steadied at 109 – 109.30, as Treasuries were weaker on the day and closed near their lows as the market awaits an all-but-done 75 bp rate boost. The 2-year US Treasury yield , which is extremely sensitive to policy expectations, rose as high as 3.970% overnight for the first time since November 2007. The 10-year yield reached a high of 3.518%, a level not seen since April 2011.
*EUR – back to parity (1.0030) after it dropped as low as $0.9864 on Sept. 6 for the first time in two decades.
*JPY – at 143.40, in a week following consolidation. The BoJ decides policy on Thursday, and is widely expected to keep its ultra-easy stimulus settings unchanged — including pinning the 10-year yield near zero — to support a fragile economic recovery.
*GBP – at 1.1445, finding some ground after the 37-year low. Consensus expectations predict a 50 bp move from the BoE, although a 75 bp move is likely to be discussed.
*Stocks: A late-day rally left the US100 up 0.76% at 11,535, while the US30 and US500 rose 0.64% and 0.69%, respectively, to 31,019 and 3899. Nikkei was up 0.45% at the close, the ASX managed a 1.29% gain, while CSI and Hang Seng are currently up 0.2% and 1.1% respectively. GER40 and UK100 futures are up 0.3% and 0.6% respectively.
*Apple rallied by 2.51% yesterday. The company announced yesterday that prices of apps and in-app purchases on its App Store will increase in several countries including Japan, Malaysia and all territories that use the euro currency, from next month. Also in a statement to Bloomberg, Apple has acknowledged the iPhone 14 Pro’s camera shaking issue and has revealed that it will release a software update to fix this. This update should be out by next week.
*USOil – at $85 area after dipping to $82. US crude oil stocks are estimated to have risen last week by around 2 million barrels in the week to Sept. 16, a preliminary Reuters poll showed on Monday. European gas prices meanwhile continue to decline with Dutch TTF at EUR 170 per megawatt hour – the lowest since July 25. European governments are intensifying efforts to ease the reliance on Russian imports and there are also efforts underway to reform the energy market as governments move to reduce energy consumption in preparation for the winter. European inventories are almost 86% full, but if Russia doesn’t resume gas deliveries via Nordstream 1 it will still be a struggle to avoid power cuts.

Overnight & Today - US Building Permits & housing Starts, Canadian Inflation and the highlight is the ECB Lagarde speech, BoC Deputy Beaudry speech and RBA Assist Gov Bullock Speech.



Biggest FX Mover @ (06:30 GMT) GBPJPY (+0.42%) rallies to 164.35 (200-hour SMA). MAs aligning higher, MACD histogram & signal line turned positive and rising. RSI 69, H1 ATR 0.225, Daily ATR 1.557.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 21st September 2022.

Market Update – September 21 – Riksbank spooked markets ahead of Fed, BoE, SNB & Norges Bank.


Trading Leveraged Products is risky

*USDIndex – extended gains to 110.26, stocks and bonds were down while the 10-year yield surged over 10 bps to hit 3.60%, but slid to finish at 3.555%. It is the first close over 3.5% since April 2011. The curve steepened to -39 bps from -45 bp.
*ECB’s Lagarde expects to raise rates further over the “next several meetings,” in her speech on Monetary Policy in the Euro Area. That and the surprisingly bold 100 bp rate boost from Sweden’s Riksbank kicked off a very heavy week of central bank decisions and got trading off on the back foot. The markets are repricing for the possibility other central banks will be in more of a rush to tighten policy.
*Putin declares partial military mobilisation to bolster Ukraine war effort.
*EUR – plummets below 0.9900.
*JPY – topped 144.00, before drifting by 60 pips on the EU open as Yen strengthened. The BoJ left its bond buying schedule unchanged and signalled ongoing focus on trying to cap yields which may have helped to soothen nerves.
*GBP – dipped to 1.1338, at 37-year lows.
*Stocks: US500 and the US30 were down just over -1%, with the US100 off -0.95%. European rates closed up over 10 bps, and bourses dropped over -1%. JPN225 and ASX closed with losses of -1.6% and -1.4% respectively yesterday, and Hang Seng and CSI 300 are currently down -1.2% and -0.3%. US and European equity futures are also in the red.
USOil – ticked up to $85.50.

Overnight – BoJ maintains bond buying program, with the focus on trying to keep a lid on yields, ahead of the policy decision later in the week. The BoJ plans to buy 150 billion yen of debt in the 5-10 year and 100 billion yen of securities with maturities of 10-25 years. That is on top of the offer of unlimited purchases of 10-year bonds at 0.25%. The 10-year rate climbed to the 0.25% upper limit of the BoJ’s tolerated range last week for the first time in three months, as officials tried to talk up the Yen.

Today – The FOMC began its 2-day meeting.



Biggest FX Mover @ (06:30 GMT) EURJPY (-0.80%) dipped to 142.00. MAs aligning lower, MACD histogram & signal line turned negative and falling. RSI 69, H1 ATR 0.271, Daily ATR 1.56.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 22nd September 2022.

Market Update – September 22.


Trading Leveraged Products is risky

*USDIndex – extended gains to 111.51, as the FOMC boosted rates by 75 bps, but it was a much more hawkish result than that. The SEP revisions were the focus and they did not disappoint, with the dots coming in much higher than expected, steepening the near-term trajectory and concluding with a higher than previously forecast terminal rate. Chair Powell also stated the policy path the Fed actually takes will be enough to get the job done.
*Yields: 2-year finally climbed through 4% to close at 4.03%, the first time with that handle since October 2007. The 10-year was 5 bps richer at 3.510% after surging to 3.624% just after the Fed’s release.
*EUR – lingering at 0.9820.
*JPY – lifted to 145.44, as Kuroda’s warning on the Yen may help to limit the move higher as it leaves markets speculating about direct intervention in forex markets, although most expect Japan to try and enlist support from the US and shy away from going it alone.
*GBP – dipped to 1.1220.
*Stocks in the red with losses of -1.79% on the US100, and -1.7% on the US30 and US500. GER40 and UK100 futures meanwhile are down -1.6% and -0.8% respectively.
*USOil – at $83.00, as supply concerns are counterbalanced by speculation that aggressive central bank action will hit the recovery.

Overnight – BoJ will continue with the easy policy settings until the 2% inflation goal is met, adding that the bank won’t hesitate to ease policy settings further if needed. FOMC boosted the rate band 75 bps as expected, from 3.0% to 3.50%. This makes a total of 300 bps in rate increases to the highest since 2008. And more hikes are on the way as the policy statement reiterated that the Committee “anticipates that ongoing increases in the target range will be appropriate.” Additionally, the dot plot showed a median funds rate at 4.4% for the end of 2022, or about 125 bps of hikes from here, keeping another 75 bp increase on the table. The median rate is at 4.6% for the end of 2023. The vote was unanimous. This is a hawkish 75 bp hike, and it’s a higher for longer stance through 2023.

Today – The SNB delivers 75 bp hike as expected. Hence focus turns to BOE announcement and US jobless claims.



Biggest FX Mover @ (06:30 GMT) CHFJPY (+1.03%) MAs aligning higher, MACD histogram & signal line turned positive and rising. RSI 78, H1 ATR 0.471, Daily ATR 1.599.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 23rd September 2022.

Market Update – September 23.


Trading Leveraged Products is risky

*USDIndex – holds above 111.
*Yields: 10-year surged 18 bps to hit 3.71% but finished at 3.69%. 2-year was 9 bps higher at 4.15% before easing off. It was an 11th straight session of losses, the longest on record (data going back to 1976), according to Bloomberg. The 10-year has sagged for 13 consecutive days. The curve inverted to -54 bps early on before rising to -42 bps late in the day.
*EUR – broke below 0.9800.
*JPY – remained supported after officials stepped in and intervened on forex markets yesterday. USDJPY is at 142.20.
*GBP – remains in the doldrums with Cable at 1.1200.
*Stocks were mired in the red, at 2 year lows, with weakness in consumer discretionary and financials. Some bargain hunting lifted the indexes off of their lows and saw the US30 edge fractionally higher temporarily, but dropped at the close to finish down -0.35%. The US100 lost -1.37%, and the US500 was off -0.85%.
*USOil – hovering at 80-82 area.

Overnight – Globally hot inflation rates have resulted in historically tough action from nearly every central bank around the world this week and over the month. Over the past 24 hours there has been a total of 250 bps in rate increases. Many emerging market central banks have been in action too, forced to keep pace with the Fed and to defend their currencies. South Africa lifted rates 75 bps, with Indonesia and the Philippines hiking 50 bps. The BoJ remained the odd man out, though it intervened in the currency market to support JPY. While the FOMC’s 75 bp hike was expected, the upward revisions in the dots to a 4.6% estimate for the terminal rate, and Chair Powell’s hawkish stance, caused much of the repricing in the markets. Additionally, Powell’s warning that there will be further pain in the housing market and that the risks for recession were on the rise exacerbated investor angst. That and the rise in yields knocked mega-tech sharply lower. Nevertheless, many doubt the FOMC will carry through with its projected policy path, while some found buying opportunities amid the downdraft in stocks.

Today – Preliminary PMIs from UK, Germany, EU, and US alongside Canadian Retail Sales and Fed’s Chair Powell.



Biggest FX Mover @ (06:30 GMT) GBPUSD (-0.63%) MAs aligning lower, MACD histogram & signal lines extend well below 0, RSI 30.62, H1 ATR 0.00175, Daily ATR 0.01282.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 26th September 2022.

Market Update – September 26 – Sterling Slumps.


Trading Leveraged Products is risky

*USDIndex – surged to 114.40 before settling at 113.64. 10-year yields jumped 5.5 bp in Australia and are currently 7.6 bp higher in the US. 2-year Treasury yields broke above 4.3% to a new 15-year high.
*EUR – The Eurozone and the wider EU are also facing the challenge of a new right-wing government in Italy, with Draghi’s likely successor not only the first woman, but one with far-right convictions that could bring her in conflict with Brussels and Frankfurt. EURUSD at 0.9635.
*JPY Japan’s Finance Minister threatened further intervention today, but the Yen was again under pressure and fell about 0.6% to the weaker side of 143.86.
*GBP dropped to an all-time low against the USD (at 1.033) as Friday’s mini-budget intensified concern about the fiscal situation. Speculation of an emergency response from the Bank of England, as confidence evaporated in Britain’s plan to borrow its way out of trouble, spooked investors piling into US Dollars. Currently settled at 1.0615.



*Stocks: Eurozone stock futures are selling off in tandem with US futures, while the UK100 future has found a footing as the slump in Sterling lends a helping hand. Across Asia the Nikkei closed -2.6% lower, the ASX declined -1.6% and Hang Seng and CSI 300 have lost -0.02% and -0.52% respectively so far.
*USOil plunged to $77.58 as recession concerns mount. Attention turns to OPEC+, on Oct. 5, after agreement to cut output modestly at their last meeting.
*Gold – drifted to $1636, with next floor at $1560.
*BTC – hovering around 2-month low at $18k area.



Overnight & Today – China steps up fight to support the Yuan. The PBOC announced today that it will impose a 20% risk reserve requirement on banks’ foreign-exchange forward sales to clients. The currency is heading for the lower end of the allowed trading band against the Dollar, despite stronger than expected fixings since August. Officials also reduced the banks’ foreign-currency reserve requirements earlier this month to boost the Yuan, but so far, the measures haven’t really halted the slide in the currency and today’s move is also not expected to do much more than slow the slide.



Biggest FX Mover @ (06:30 GMT) EURGBP (+2.19%). Topped at nearly 2-year highs at 0.9250, before correcting back to 0.9045. Intraday MAs aligning lower, MACD histogram & signal line hold positive, RSI declines to 61, H1 ATR 0.0065, Daily ATR 0.0094.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 27th September 2022.

Market Update – September 27.


Trading Leveraged Products is risky

*USDIndex – at 113.40 after hitting another new 20+ year high at 114.41, as treasuries continue to rally. 10-year yield surged over 20 bps to test 3.898%, the highest since early 2010. The 2-year was over 13 bps cheaper to 4.340%, a new 15-year peak. The 30-year bond was up only 10 bps to 3.715%, an 8-year high. The curve held in the -44 bp area.
*EUR – lifted slightly amidst a general correction in the Dollar, at 0.9652.
*JPY traded at 144.20. Resistance set at 146.00.
*GBP dropped to an all-time low of 1.035 overnight, but bounced to 1.0800 currently. BoE’s Bailey said the Bank will not hesitate to change rates as much as needed while noting he is monitoring the financial markets. That disappointed as the markets hoped to hear something firmer and more definitive on the crash in Cable. The UK100 bounced and managed a fractional gain at the end of the day.



*Stocks: Stock markets started to stabilize overnight and Nikkei and ASX managed gains of 0.5% and -0.4% respectively. Wall Street gave up early gains and closed with losses of over -1.0% on the US30 and US500, with the latter at 3655, piercing the 3666 nadir from June 16, and is the weakest since December 14, 2020. The US100 slid -0.60%.
*USOil closed yesterday below $76 (9-month low) on indications that OPEC+ may enact output cuts to avoid a further collapse in prices.
*Gold – drifted to $1621 outside daily BB.
*BTC – higher at $20,162.





Biggest FX Mover @ (06:30 GMT) NZDUSD (+1.27%). Retesting 50-hour SMA at 0.5715, Intraday fast MAs aligning higher, MACD histogram & signal line hold negative but close to 0, RSI rise to 57, H1 ATR 0.00175, Daily ATR 0.00878.

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.

Click HERE to access the full HFM 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.

Date : 28th September 2022.

Market Update – September 28 – Renewed Selling.


Trading Leveraged Products is risky

*USDIndex – breaks range and tops at 114.63. Economic data on confidence, durables, home sales, and the Richmond Fed index were stronger than expected, while home prices declined and broke a long string of gains.
*Yields: A tweet from DoubleLine Capital’s Gundlach that he was buying Treasuries provided some support along with dip-buying and safe haven demand. The 10-year Treasury yield ended over 5 bps higher, testing 3.99% after having dropped over 10 bps to a low of 3.797%.
*GBP in a renewed selling, UK bonds sold off sharply, yields on US bonds higher and US stocks to the lowest level since 2020. 10-year gilt on Tuesday rose 26% to hit a 14-year high of 4.5% after the Bank of England’s chief economist Huw Pill said the loosening of fiscal policy announced last week would “require a significant monetary response”.
*Kwarteng met the heads of companies including Aviva, Legal & General, Royal London, BlackRock, Schroders and Fidelity, to reassure them that his economic strategy would work after days of turmoil in financial markets. Later he spoke to Conservative MPs to calm fears that the government had lost control of the economic situation.
*IMF criticize Britain’s new economic strategy, saying the proposals are likely to increase inequality. Moody’s warned that unfunded tax cuts were credit negative.



*EUR – fresh low at 0.9540.
*JPY traded at 144.70.
*Stocks: closed mixed with the US100 managing a 0.25% gain, while the US30 declined -0.42%, with the US500 sliding -0.2% to 3647.
*USOil steady at $77. The energy crisis in Europe intensified as European authorities investigated what Germany, Denmark and Sweden said were attacks which had caused major leaks into the Baltic Sea from two Russian gas pipelines.
*Gold – drifted to $1619.97.
*BTC – slide back to $18K area, as stocks fell deeper into a bear market. Ether was also down by less than 1%. – “crypto winter”?



Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.77%) extends outside daily BB. Intraday fast MAs aligning lower, MACD histogram & signal line are negative, RSI at 23, H1 ATR 0.218, Daily ATR 1.166.

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Please note that times displayed based on local time zone and are from time of writing this report.

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Andria Pichidi
Market Analyst
HFMarkets

Disclaimer: 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.