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Hotforex.com - Market Analysis and News.

This is a discussion on Hotforex.com - Market Analysis and News. within the Analytics and News forums, part of the Trading Forum category; Date: 8th May 2024. Market News – Stocks mixed; Yen support still on; Eyes on NFP & Apple tonight Trading ...

      
   
  1. #511
    Junior Member HFblogNews's Avatar
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    Date: 8th May 2024.

    Market News – Stocks mixed; Yen support still on; Eyes on NFP & Apple tonight


    Trading Leveraged Products is Risky

    Economic Indicators & Central Banks:

    * As the Fed maintained a “high-for-longer” stance, stocks gave up their gains with attention turning back to earnings.
    * Chair Powell and the Fed were not as hawkish as feared and the markets reacted immediately and in textbook fashion to the still dovish policy stance.
    * The Fed flagged that recent disappointing inflation readings could make rate cuts a while in coming, but Fed chief Jerome Powell characterized the risk of more hikes as “unlikely,” giving some solace to markets.
    * Stocks traded mixed across Asia, while in Europe, DAX and FTSE futures are finding buyers and US futures are also in demand, after the Fed’s message.
    * Yen: Another suspected intervention by authorities, this time in late New York trading, ran into resistance from traders keen to keep selling the currency.
    * Swiss CPI lifted to 1.4% y/y in April from 1.0% y/y in the previous month. Headline numbers are still at low levels and base effects play a role, with the different timing of Easter this year also likely to distort the picture. That said, the numbers may not question the SNB’s decision to cut rates, but they do not support another rate cut in June.



    Financial Markets Performance:

    * The USDIndex has corrected to 105.58, but USDJPY is already inching higher again, after a sharp drop to a low of 153.04 on Tuesday that sparked fresh intervention speculation. The pair is currently trading at 155.38.
    * Treasury yields plunged and were down over double digits before profit taking set in.
    * USOIL finished with a -3.6% loss to $79.00, the lowest since March 12. Currently it is as $79.53.
    * Gold was up 1.4% to $2319.55 per ounce, reclaiming the $2300 level.

    Market Trends:

    * Wall Street climbed initially with gains of 1.4% on the NASDAQ, 1.2% on the Dow, and 0.96% on the S&P500. The NASDAQ and S&P500 closed with losses of -0.3%, while the Dow was 0.23% firmer.
    * The Hang Seng rallied more than 2%, and the ASX also posting slight gains, while CSI 300 and Nikkei declined.
    * Apple’s earnings report is due after the US market closes today, will give investors a better sense of how the iPhone maker is weathering a sales slump, due in part to a sluggish China market.

    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
    HMarkets

    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.

  2. #512
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    Date: 9th May 2024.

    Market Insights: The BOE’s Potential Dovish Pivot and Current Indications.


    Trading Leveraged Products is risky

    *The Bank of England is in focus as the regulator will confirm their rate decision and how their future monetary policy path may look.
    *The GBP trades sideways but the FTSE100 continues to trade higher. Economists are contemplating if the market is pricing a dovish tilt by the BOE.
    *The Dow Jones was Wednesday’s best performing index, rising 0.48%. The DJIA’s best performing stock was Amgen which rose 2.33%.
    *Federal Reserve members continue to apply further pressure on the market’s sentiment with more indications that inflation is too high.

    GBPUSD – Investors Focusing on A Potential Upcoming Dovish Pivot!

    The GBPUSD trades sideways and did not form a significant trend the day before. This morning the price trades slightly in favour of the US Dollar, however most institutions are waiting for confirmation from the Bank of England on monetary policy adjustment. The price movement will depend on the future guidance of the Governor and the Monetary Policy Committee’s votes.



    The market is expecting the interest rate to remain at 5.25%. However, there’s anticipation that regulators may hint at upcoming monetary policy easing, potentially impacting the Pound. Analysts anticipate a shift to a “dovish” policy this year but differ on timing. Most foresee changes in June or August, possibly with two 25-point rate cuts. The price of the GBP will depend on when the BOE will indicate a rate cut is likely. If 1 or 2 members of the MPC vote for a cut and the Governor advises they are now considering a cut, then the GBP potentially could decline based on a June rate cut.

    Market participants are anticipating a dovish indication due to inflation declining for 3 consecutive months and declining to a 32-month low. In addition to this, the UK’s employment change has weakened for 2 consecutive months as has the UK GDP growth. Traders can see the market is pricing a dovish indication due to the GBP’s decline over the past 3 days as well as the bullish price movement seen on the FTSE100.

    USA30 – When Will The Buy Signal Again Become Active?

    The Dow Jones was the best-performing US index as investors increased their exposure due to its connection with defensive stocks. 70% of the Dow Jones’ components rose in value and the best performing stocks were Amgen, Boeing and JP Morgan which all rose more than 2.00%.

    The next influential earnings report for the Dow will come from Home Depot next Tuesday morning. Investors are expecting a 23% rise in earnings compared to the previous quarter. In addition to this, analysts expect revenue to rise, and traders should note the company has beaten expectations over the past 4 reports. Home Depot stocks hold a weight within the Dow Jones of 5.78%.



    The price of the index continues to trade above the 75-Bar EMA and above the “neutral” point on the RSI. These factors indicate buyers are controlling the market. However, this morning the price is retracing, therefore a buy signal will not be active unless the price rises above $39,091 which is the breakout level, or at least forms a bullish crossover (8-bar EMA & 18-bar SMA).

    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.

    Michalis Efthymiou
    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.

  3. #513
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    Date: 10th May 2024.

    The BoE To Cut Rates In September. US Employment Data Falters!


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    * The UK economy experiences its strongest growth since August 2023, with Monthly GDP increasing 0.4%, four times higher than expectations.
    * The Bank of England saw 2 out of 9 members vote for an interest rate cut. The dovish members of the BoE are Dr Swati and Sir Ramsden.
    * The BOE Governor, Mr Bailey, said two rate cuts are likely in 2024 as “one cut will keep us in restrictive territory”. However, he advises there is a higher chance the first cut will come in September.
    * The UK’s FTSE100 declines close to 0.20% as the UK’s GDP reading indicates an interest cut is less likely to take place in June 2024.

    GBPUSD – The UK Economy Moves Out of a Technical Recession!

    The GBPUSD over the past 24-hours has been influenced by three factors: the monetary committee’s votes, the Governor’s guidance and the UK’s latest GDP figure. The GBPUSD first fell to a 2-week low due to the higher number of votes for an interest rate cute. However, the GBPUSD has since risen 0.77%. Therefore, how can traders view the price movement and the latest developments?



    A large factor influencing the pricing is whether the regulator is likely to adjust its policy in June or September. A rate cut in September would support the GBP as it would keep rates higher for longer compared to the Eurozone and other competitors. The Monetary Policy Committee votes indicates the BoE is almost ready to cut rates. The Governor also said they wish to steadily move away from a restrictive policy. In the UK a restrictive monetary policy is 5.00% and above.

    The reason for the price increase is the Governor indicating that there is a higher possibility the regulator will cut in September not June. In addition to this, the strong economic growth confirmed this morning further lowers the possibility of a cut in June. This is because there is less pressure on the BoE to support a stagnated economy. Therefore, a rate cut is now likely to take place in September 2024, which is on par with the Federal Reserve’s guidance for its own policy.

    The Federal Reserve and The US Dollar

    The US Dollar on Thursday evening was considerably pressured by the Weekly Unemployment Claims, which normally has a limited affect. The US Unemployment Claims rose to 231,000, higher than predictions of 212,000 and the highest since November 2023. Therefore, the US has seen lower NFP data, higher unemployment rate and now higher unemployment claims. This has investors questioning if the US employment sector may be weakening for the first time since raising interest rates. If so, the Federal Reserve may consider a cut in July. Currently, the CM Exchange’s tool shows a 30.8% chance of a cut in July, if this figure rises, the US Dollar could potentially weaken.

    GBPUSD – Technical Analysis

    Technical analysis indicates the price of the GBPUSD may rise to the previous resistance levels between 1.25650 and 1.25936. However, if the market continues to price a Fed rate cut in September, it is improbable the exchange rate will reach the resistance level at 1.26340. The exchange rate currently trades above most trend lines such as the 75-Bar EMA and is above the 60.00 mark on most RSI periods. The price has slightly retraced since rising after the GDP announcement. For this reason, the buy signal has turned into a neutral. However, if the price rises above 1.25362, the buy signal may materialize again.



    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.

    Michalis Efthymiou
    Market Analyst
    HMarkets

    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.

  4. #514
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    Date: 13th May 2024.

    Market News – Stock markets traded mixed; Flat USD ahead of US CPI.


    Trading Leveraged Products is risky

    Economic Indicators & Central Banks:

    *Japanese government bond yields surged to multi years highs after the BOJ’s unexpected move to decrease the quantity of bonds it typically purchases during routine operations, signaling a more hawkish stance to the markets.
    *BOJ Kato stated that it’s natural that monetary policy will revert to positive interest rates, while BOJ Governor Ueda signalled the potential for multiple rate hikes ahead.
    *Chinese authorities have kicked off plans to sell $140bn of long-dated bonds on Friday, in order to support investment in key areas and reinforce economic momentum in the second quarter amid the country’s lengthy property crisis.
    *US government plans to raise tariffs to a raft of Chinese exports were weighing on sentiment.
    *BlackRock stated: The Yen’s weakness is turning foreign investors away from Japanese stocks.



    Financial Markets Performance:

    *The USDIndex is steady at 105 lows, at 105.58 ahead of US CPI on Wednesday, while USDJPY is holding at 155.80, after retesting May’s high at 155.96.
    *EURUSD steady above 1.0750 as the euro zone prepares for an inflation reading of its own on Friday.
    *USOIL declined amid demand concerns and as traders looked ahead to an OPEC+ meeting on supply policy. On the supply front, the Iraqi Oil Minister initially claimed that production cuts were adequate and opposed further reductions but later deferred decisions to OPEC. Next OPEC+ meeting: June 1. Currently USOIL is at $77.78.
    *Gold corrected to $2349 per ounce, from $2380 highs.

    Market Trends:

    *Asian stocks fluctuate between gains and losses, as sentiment was impacted by disappointing Chinese economic data alongside optimism amid reports indicating that the country plans to initiate the sale of ultra-long bonds.
    *European markets are also narrowly mixed in opening trade, while US futures are slightly higher.
    *The NASDAQ is outperforming. Bonds are finding buyers and the 10-year Treasury yield is down -1.0 bp, while Bund and Gilt yields have corrected -1.3 bp and -2.3 bp in early trade.

    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.

  5. #515
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    Date: 14th May 2024.

    Market News – May 14.


    Trading Leveraged Products is risky

    Economic Indicators & Central Banks:

    *Asian stocks and European futures kept to small ranges as focus turned to upcoming US inflation reports.
    *JGB yields surged to their highest levels in over a decade amid growing speculation that the BOJ might raise interest rates soon.
    *Former central bank executive Momma stated that the BOJ might opt to deduct its planned bond purchases next month in an effort to revive a bond market that has been largely impaired by its ongoing substantial purchases.
    *BOJ Governor Kazuo Ueda emphasized the importance of the market determining long-term yields independently rather than relying solely on the central bank’s actions.
    *UK wage growth remained solid amid a slowdown in the job market, providing further arguments for the BOE’s monetary policy hawks to await more concrete signs of easing inflationary pressures before considering interest rate cuts.
    *Eyes today are on producer price data in the US, followed by consumer price data the next day, which will provide insights into whether the Fed will consider interest rate cuts later in the year or postpone them until 2025.



    Financial Markets Performance:

    *The USDIndex is steady at 105 lows.
    *The Yen extended losses for an 8th day against the Greenback to a 2-week low. Currently USDJPY is at 156.45.
    *EURUSD rebounded slightly to 1.0785, however overall holds within a downwards channel with key resistance at 1.0850.
    *USOIL held steady ahead of the release of an OPEC market outlook, with traders eagerly awaiting signals regarding the extension of supply curbs. Despite a decline since April, oil prices have remained relatively high this year due to ongoing supply restrictions by OPEC and its allies, with expectations that these curbs will be prolonged into the second half of the year. Currently USOIL is at $77.78.
    *Gold (-0.93%) declined further to $2338 per ounce. Copper rose at +2.46% and Platinum +0.54%.

    Market Trends:

    *The 10-year JGB yield to a 6-month high of 0.965%. The 2-year JGB yield, which closely reflects policy expectations, rose to 0.340%, its highest since June 2009. The 20-year and 30-year JGB yields also surged to their highest levels in 11 years and since July 2011, respectively.
    *FTSE100 stands by record highs, the S&P500 is close to topping March’s record high. The Nasdaq rose by 0.3%, with four of the Magnificent Seven stocks rising. The Hang Seng has added 20% in a rally that is entering a fourth week.
    *Alibaba and Tencent report earnings later today.

    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.

  6. #516
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    Date: 15th May 2024.

    Market News – Treasuries rallied, NASDAQ at new high, DXY lower after PPI pop.


    Trading Leveraged Products is risky

    Economic Indicators & Central Banks:

    *JGB yields slipped, as markets paused amid a recent bond sell-off, awaiting a crucial US inflation report expected to influence the Fed’s short-term interest rate decisions. Remember, that typically yields move inversely to bond prices.
    *US: Stronger than expected prints on PPI did not have the textbook effects on the markets. Interestingly, Treasuries and Wall Street rallied, while the US Dollar slipped. The guts of the report were not as worrisome as the headlines suggested, and the CPI is viewed as more important.
    *Global equities are set for a fresh record after a big tech-led rally in US gauges.

    Financial Markets Performance:

    *The USDIndex slumped to 104.7, EURUSD rose to 1.0830 and USDJPY drifted at the EU open below 156.
    *Gold rose almost 1% to $2358.12 per ounce, while USOIL advanced to $78.18 after shrank US stockpiles, and as traders looked ahead to a report from the International Energy Agency that’ll shed light on market balances into the second half.
    *Copper spiked to a fresh record high at $5.12 a pound after a squeeze partly due to traders playing the arbitrage between futures on Comex and the Shanghai Futures Exchange.



    Market Trends:

    *Big tech climbed, however, boosting the NASDAQ 0.75% to a new all-time high of 16,511. The S&P500 rose 0.48% to 5246. The Dow advanced 0.3%.
    *Sony shares jumped by 12% after strong earnings, a stock split and a share buyback of ¥250bn ($1.6bn).
    *Tesla gained 3.3%. Tencent Holdings surged after the company’s revenue beat estimates , while Alibaba Group Holding Ltd.’s slid on a profit plunge, highlighting the growing divergence between China’s twin Internet powerhouses.

    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.

  7. #517
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    Date: 16th May 2024.

    Market News – Stagflationary Risk for Japan; Bonds & Stocks Higher.


    Trading Leveraged Products is risky

    Economic Indicators & Central Banks:

    *Stocks and bonds gave a big sigh of relief after CPI and retail sales came in below expectations, supporting beliefs the FOMC will be able to cut rates by September.
    *The markets had positioned for upside surprises. Wall Street surged with all three major indexes climbing to fresh record highs.
    *Technical buying in Treasuries was also supportive after key rate levels were breached, sending yields to the lows since early April.
    *Fed policy outlook: there is increasing optimism for a September rate cut, according to Fed funds futures, BUT most officials say they want several months of data to be confident in their actions. Plus, while price pressures are receding, rates are still well above the 2% target, keeping policy on hold. But the market is now showing about 22 bps in cuts by the end of Q3, with some 48 bps priced in for the end of 2024.
    *Stagflationary Risk for Japan: GDP contracted much sharper than anticipated, for a 3rd quarter in a row. This is mainly due to consumer spending. The GDP deflator though came in higher than expected but still down from the previous quarter. The sharper than anticipated contraction in activity will complicate the outlook for the BoJ, and dent rate hike bets.



    Financial Markets Performance:

    *The USDIndex slumped to 103.95, the first time below the 104 level since April 9.
    *Yen benefitted significantly, with USDJPY currently at 154.35 as easing US inflation boosted bets on the Fed easing monetary policy this year, weakening USD, boosting the Yen.
    *Gold benefited from a weaker Dollar and a rally in bonds and the precious metal is trading at $2389 per ounce. At the same time, the precarious geopolitical situation in the Middle East is underpinning haven demand.
    *Oil prices rebounded slightly after the shinking of US stockpiles and the risk-on mood due to declined US Inflation. However USOil is still at the lowest level in 2 months, at 78.57.



    Market Trends:

    *The NASDAQ popped 1.4% to 16,742. The S&P500 advanced 1.17% to 5308, marking a new handle. And the Dow rose 0.88% to 39,908.
    *Treasury yields tumbled sharply too on the increasingly dovish Fed outlook. Additionally, the break of key technical levels extended the gains to the lowest levels since early April before the shocking CPI data on April 10 boosted rates.

    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.

  8. #518
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    Date: 16th May 2024.

    Market News – Stagflationary Risk for Japan; Bonds & Stocks Higher.


    Trading Leveraged Products is risky

    Economic Indicators & Central Banks:

    *Stocks and bonds gave a big sigh of relief after CPI and retail sales came in below expectations, supporting beliefs the FOMC will be able to cut rates by September.
    *The markets had positioned for upside surprises. Wall Street surged with all three major indexes climbing to fresh record highs.
    *Technical buying in Treasuries was also supportive after key rate levels were breached, sending yields to the lows since early April.
    *Fed policy outlook: there is increasing optimism for a September rate cut, according to Fed funds futures, BUT most officials say they want several months of data to be confident in their actions. Plus, while price pressures are receding, rates are still well above the 2% target, keeping policy on hold. But the market is now showing about 22 bps in cuts by the end of Q3, with some 48 bps priced in for the end of 2024.
    *Stagflationary Risk for Japan: GDP contracted much sharper than anticipated, for a 3rd quarter in a row. This is mainly due to consumer spending. The GDP deflator though came in higher than expected but still down from the previous quarter. The sharper than anticipated contraction in activity will complicate the outlook for the BoJ, and dent rate hike bets.



    Financial Markets Performance:

    *The USDIndex slumped to 103.95, the first time below the 104 level since April 9.
    *Yen benefitted significantly, with USDJPY currently at 154.35 as easing US inflation boosted bets on the Fed easing monetary policy this year, weakening USD, boosting the Yen.
    *Gold benefited from a weaker Dollar and a rally in bonds and the precious metal is trading at $2389 per ounce. At the same time, the precarious geopolitical situation in the Middle East is underpinning haven demand.
    *Oil prices rebounded slightly after the shinking of US stockpiles and the risk-on mood due to declined US Inflation. However USOil is still at the lowest level in 2 months, at 78.57.



    Market Trends:

    *The NASDAQ popped 1.4% to 16,742. The S&P500 advanced 1.17% to 5308, marking a new handle. And the Dow rose 0.88% to 39,908.
    *Treasury yields tumbled sharply too on the increasingly dovish Fed outlook. Additionally, the break of key technical levels extended the gains to the lowest levels since early April before the shocking CPI data on April 10 boosted rates.

    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.

  9. #519
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    Date: 17th May 2024.

    Market News – Asian and European futures followed Wall Street lower.


    Trading Leveraged Products is risky

    Economic Indicators & Central Banks:

    *The Dow topped 40,000 for the first time ever, but was unable to close with that historic handle. Concurrently, the S&P tried for its 24th record high this year but failed too.
    *The rise in Treasury yields after stronger than expected import prices, and a drumbeat from Fed officials that rates need to remain high for longer, encouraged profit taking.
    *Most Asian equity markets and European futures have followed Wall Street lower, after US data dented rate cut hikes.
    *Chinese data showing slowed consumption and a drop in home sales, although industrial production numbers looked relatively robust.
    *Japan’s core consumer inflation slowed for a 2nd month in a row in April from a year earlier, while the core consumer prices index (CPI) is expected to decelerate to 2.2% from 2.6% in March, the lowest level in 3 months, but still at or above the central bank’s 2% target for more than two years.



    Financial Markets Performance:

    *The USDIndex firmed slightly to 104.518 and up from the day’s nadir of 104.080. But it held a 104 handle for a second straight day. It traded above the 105 level from April 10 until May 15.
    *Silver has surged nearly 25% this year, outpacing Gold and becoming a top-performing commodity, though it remains relatively inexpensive compared to gold. Both metals have hit record highs due to central-bank buying and increased interest in China.
    *USOil is 0.75% higher at $79.23.

    Market Trends:

    *All three major US indexes closed slightly in the red after posting all-time highs on Wednesday.
    *The NASDAQ closed with a -0.26% decline, while the S&P500 lost -0.21%, and the Dow was off -0.1% at 39,869. It was a corrective day for Treasuries too. Bonds unwound part of their recent rally that took rates down to the lows since early April.

    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.

  10. #520
    Junior Member HFblogNews's Avatar
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    Date: 20th May 2024.

    Gold Reaches a New All-Time High: What’s Driving the Surge in Prices?


    Trading Leveraged Products is risky

    *Gold renews its all-time highs after surging 1.64% on Friday and a further 1.24% during this morning’s Asian session.
    *The price of Gold has risen due to 3 factors; Iran’s helicopter crash killing at least 2 politicians, a potential rate cut and a weaker US Dollar.
    *Commodities all continue to increase with Copper leading after rising a further 3.45% intraday.
    *Investors are refocusing on the NASDAQ in anticipation of NVIDIA’s quarterly earnings report, which will be made public mid-week.

    XAUUSD – Weaker Dollar and Chinese Demand!

    Gold’s price has been increasing for the past 2 weeks but saw significant gains mainly on Friday and early this morning. Another factor investors should note is that the demand is not solely coming from the US trading session but rather all 3 trading sessions (Asian, European & US). Why is Gold again renewing its highs?



    The first factor that investors need to take note of is that the price of all commodities have been rising over the past 2-weeks. Here we can see that commodities in general are seeing demand and lower supply, not solely Gold. The second factor is that China is still noticeably increasing their reserve in Gold as the country looks to enhance its currency. Additionally, the country is looking to de-Dollarize ahead of the US elections. China has considerably increased their orders for the commodity and investors should note that the Renminbi has become the fifth most traded currency in the world.

    According to economists, the higher price has a lot to do with the increase in orders from certain countries. In addition to this, some investors continue to predict a rate adjustment from the Federal Reserve after a slight decline in inflation from 3.5% to 3.4%. However, traders should be cautious that the Fed’s representatives are not changing their rhetoric. Loretta Mester said that achieving their target of 2% will take longer than expected, but maintaining current interest rates will help reduce price pressure. The official added that the US Fed needed more evidence of an inflation reduction to begin easing monetary policy. Below are the dates some of the main global banks expect the Federal Reserve to start easing:

    July 2024 – JP Morgan & Goldman Sachs

    September 2024 – Morgan Stanley & UBS Group

    December 2024 – Bank of America and Deutsche Bank AG.

    Technical analysis continues to point towards an upward price movement including the VWAP, Moving Averages and Bollinger Bands, though the price is understandably overbought on most oscillators including the RSI. However, based on the previous two impulse waves on the daily chart, the price potentially can increase a further 2-3% before losing momentum if it is going to follow previous patterns.

    USA100 – Investors Focus On NVIDIA Earnings Report

    The USA100 was the worst performing index on Thursday and Friday. However, the index will again be under the spotlight as NVIDIA’s Quarterly Earnings Report will be released Wednesday evening. Economists have said one of the main reasons behind the loss of momentum towards the end of the week was the “higher weight” stocks underperforming. Of the “magnificent seven” stocks, only three have outperformed the NASDAQ over the past month. These include NVIDIA, Alphabet and Amazon.

    On the positive side, the price this morning is increasing as are other global indices, indicating a “risk-on” appetite. Furthermore, an influential factor will be NVIDIA’s earnings and revenue data. Analysts expect the company’s Earnings Per Share to rise 7% and revenue to increase to $24.55 billion, a new record high. If the report is higher than expectations, the price of the stock is likely to rise and support the NASDAQ accordingly.



    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.

    Michalis Efthymiou
    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.

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