Topic: HFMarkets (hfm.com): Market analysis services. - page 21. (Read 4970 times)

Date : 23rd June 2022.

Market Update – June 23 – USD & Yields slip, Oil down post Powell.


Trading Leveraged Products is risky

USD slips from highs (USDIndex 103.80), Stocks closed flat (NASDAQ & DJIA -0.15%) Yields tanked (-4%) after Powell said FED were “strongly committed” to the inflation fight and that recession was “certainly possible”. Asian shares mixed (Hang Seng +1.64%, Nikkei +0.8%, Kospi -0.7%) Oil slumped another -2% and Gold & BTC slide sideways. Biden announced tax reprieve on gasoline, but is under increasing political pressure, Johnson faces two more by-election defeats today & national rail strikes on-going, (6th Anniversary of Brexit vote) and Scholz fears gas line shutdown and unable to speak with Putin. USDJPY cooled from new 24-year high as JPY outperformed in Asian session.

*USDIndex tested 103.60 yesterday before recovering to 104.00 now.
*Equities – USA500 closed -4.9 (3759), US500FUTS lower at 3756 now.
*Yields 10-year yield higher, closed down -479% at 3.156% , trades at 3.18% now.   
*Oil & Gold had mixed sessions – USOil slumped 2.2% to trade under $102 yesterday following Biden & Powell, back to $104.80 now.  Gold spiked to $1845 and trades at $1834 now on weaker Yields and USD.
*Bitcoin continues to pivot around $20K,  trades at $20.5K now.
*FX markets – EURUSD tested 106.00 yesterday back to 1.0560,  USDJPY cooled from 136.71 yesterday to test 135.00 earlier & back to 135.83 now. Cable trades down to 1.2230 now from rally to 1.2330 yesterday.

Overnight - Japanese Manu PMI  – miss (52.7 vs 53.5) UK Public sector borrowing hit £14bn last month, the third-highest May since 1993, and worse than the expected £11.6bn.

Today - EZ, UK & US Flash PMIs, US Initial Claims, Policy Announcements from Norges Bank, CBRT & Banxico, US Bank Stress Test Results, Fed’s Chair Powell Speaks at the House Finance Committee.



Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.68%). JPY out performs today with safe haven bid. Rallied from 93.20 earlier to 93.70, next resistance the significant 94.00.  MAs aligning higher, MACD histogram negative & still turning lower, RSI 42.45, and rising, H1 ATR 0.278, Daily ATR 1.49.

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 : 22nd June 2022.

Market Update – June 22 – Stocks rally, USD & Yields hold, Oil & Yen sink.


Trading Leveraged Products is risky

USD holds at highs (USDIndex 104.51), Stocks closed up over 2% (NASDAQ +2.51%) – (1) dead cat bounce & another bear market rally or (2) signs of peak inflation and peak Fed bearishness ? (Technicals & Fundamentals still say 1). Asian shares closed lower on rapid spread of new Omicron  (Hang Seng -1.49%) Yields rheld their gains. Oil also slumped (Brent -3.42%) Gold & BTC slide sideways. Biden expected to announce temp. tax reprieve on gasoline, BOJ Mins confirmed they will ease further if necessary “without hesitation” USDJPY hits new 24-year high. NZD hit by weak trade data.



*USDIndex tested 103.72 on Tuesday before rallying to 104.55 now.
*Equities – USA500 closed +2.45% (3764), US500FUTS slumped to 3719 now.
*Yields 10-year yield higher, closed at 3.26% , trades at 3.29% now.   
*Oil & Gold had mixed sessions – USOil slumped 3% to trade at $104.90. Biden & Omicron news weighed &  Gold could not hold $1830 and trades at $1825 now on higher Yields and stronger USD.
*Bitcoin continues to pivot around $20K, test $22K yesterday, back to $20K now.
*FX markets – EURUSD hback under 1.0500,  USDJPY hit new 24-yr highs at 136.71 and Cable trades down to 1.2225 now, following Inflation news, from 1.2325 highs yesterday.

Overnight - UK CPI hits 9.1% inline but up from 9.0% last month, CORE a tick lighter at 5.9% vs 6.0% & 6.2%, PPI beat 2.1% vs 1.8% & 2.7% prior and RPI also hotter at 11.7% vs 11.4% & 11.1% last time. NZ Trade Balance less than 50% of forecast at . Reuters Poll Fed Path: 75bp July, 50bp Sept & Oct, and 25bp Nov. (at the earliest). Japanese official – FX moves against the Yen “not ideal”.

Today - Canadian CPI, EZ Consumer Confidence, Speeches from Fed’s Powell, Barkin, Evans & Harker, SNB’s Jordan ECB’s de Guindos & Elderson, BoC’s Rogers.



Biggest FX Mover @ (06:30 GMT) NZDUSD (-1.18%). Collapsed from test of 0.6360 on Monday & Tuesday to 0.6250, as NZD Trade Balance missed significantly.   MAs aligning lower, MACD histogram negative turning lower, RSI 21.25, OS but still falling, H1 ATR 0.00124, Daily ATR 0.00850.

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 : 21st June 2022.

Market Update – Stocks & Yields Lift for Summer Solstice.


Trading Leveraged Products is risky

USD holds at highs (USDIndex 104.16), Stocks closed higher in Europe (DAX +1.01%, FTSE100 +1.50%) & Asian shares opened over 1% higher and closed positively (Nikkei +2.09%) US Futures +1.15%. Yields rallied (US 10yr 3.2976%). Oil ticks 2% higher, lifting CAD pairs, after Fridays sell-off and Gold & BTC slide sideways. Yellen talks of a “price cap” and “tax” for Russian oil exports and a tax “holiday” for gasoline in US to ease inflation. (Ruble @ 15 mth high). Japan PM Kishida & FM Suzuki: Rapid yen weakening is a source of concern.  RBA’s Lowe rates need to go higher in low unemployment high inflation Australia.

Week Ahead – Will be dominated by Central Bank Speak topped by FED Chair Powell’s  2-day testimony to Congress. CPI & PMI data also due this week.

*USDIndex tested 104.00 on Monday and holds at 104.15 today.
*Equities – USA500 closed yesterday (Friday 3674), US500FUTS at 3725 now.
*Yields 10-year yield higher , trades at  3.29% now.   
*Oil & Gold had mixed sessions – USOil recovered over 2% to trade at $110.20.  Gold could not hold $1840 and trades at $1835 now.   
*Bitcoin pivots off $20K, to test $21K now.
*FX markets – EURUSD holds at  1.0525,  USDJPY holds over 135.00 zone shy of 24-yr high 135.50 and Cable trades up 20 pips to 1.2260.

Overnight - BoE Pill & Tenreyro speeches, EU HICP & Fed Chair Powell speech.

Today - Canadian Retail Sales, US Existing Home Sales, New Zealand Trade Balance, Speeches from ECB’s Rehn, Fed’s Barkin & Mester.



Biggest FX Mover @ (06:30 GMT) CADJPY (+0.30%). Continues to move higher from 101.65 test on Thursday to  104.50, as Oil recovers from sell-off. Next key resistance 104.75 & 105.00. MAs aligning higher, MACD histogram positive & turning higher, RSI 71 ,OB but still rising,   H1 ATR 0.139, Daily ATR 1.343.

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 : 17th June 2022.

Market Update – June 17 – Deeply underwater.


Trading Leveraged Products is risky

USD drifted (USDIndex 103.15) thanks to the hawkish SNB and BoE, and the potential for a shift from the BoJ. However, the BoJ eventually left policy on hold & maintained its ultra-low rate settings today, despite looking increasingly like the odd one out. Yen sinks. Stocks were crushed, hit by the surge in yields (NASDAQ -4.4%, Dow -2.4% & S&P -3.25%). Weakness in tech also weighed on USA100. VIX rose to an intraday high of 34.43, but dipped to 33.44 late in the day, versus Wednesday’s 29.62.  Treasuries are rallying and yields are now richer (2-year declined to 3.10%, 10-year at 3.25%. They were as high as 3.39% and 3.49% on the day). European leaders back Ukraine’s bid to apply for EU membership.

*US mortgage rate surged 55 bps to 5.78%, the biggest weekly jump since 1987.
*US housing starts plunged -14.4% to 1.549 mln in May, permits fell to 1.695 mln.
*US Philly Fed index dropped to -3.3 in June, 6-month outlook fell to -6.8.
*US initial jobless claims slid -3k to 229k in June 11 week.

* USDIndex rebounded to 104.25 from 103.15.
* Yields 10-year climbed 5.5 bp to 3.25%.
* Equities – Nikkei and ASX lost -1.8% today. Elon Musk hints at layoffs in first meeting with Twitter employees.
* Oil settled at 117.50 – Oil set for weekly loss as traders weigh monetary tightening, although persisting supply tightness and new sanctions on Iran limited the downside.
* Gold retested $1856, currently lower at $1845. Platinum and palladium also set for weekly drops.
* Bitcoin steadily lower at $20k area.
Interest rate differentials between Japan and the US will continue to widen, which will keep pressure on the Yen, which at the start of the week was at the lowest level since 1998.
* FX markets – EURUSD at 1.0505, USDJPY back above 134.67, Cable at 1.2257 from 1.2405 highs.

Today: BoE Pill & Tenreyro speeches, EU HICP & Fed Chair Powell speech.



Biggest FX Mover @ (06:30 GMT) CHFJPY (+1.54%) breaks 2013 peak. Intraday, MAs aligned higher, MACD lines extending northwards, RSI 76 & rising. ATR(H1) 0.0524 & ATR(D) at 1.506.

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 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 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 : 16th June 2022.

Market Update – June 16 – Its all about the Banks.


Trading Leveraged Products is risky

FOMC hiked rates 75 bps, 10-1 vote; further increases likely appropriate. USD supported (USDIndex 104.80), Stocks higher despite Fed (NASDAQ +2.5%, Dow 1.4% & S&P +2%). Despite the Fed effecting the biggest increase in interest rates in 28 years, bonds and stocks rallied hard, underpinned by the fact Chair Powell said the 75 bps was an unusual move and would not be a common action, noting further hikes would be 50 bps or 75 bps. After hitting multi-month lows earlier this week, most regional currencies firmed on Thursday after US Bond Yields and the USD retreated from multi-year highs a day earlier as investors welcomed the Fed’s decision. It is clear that the Fed’s move will keep stagflation concerns alive. Asian markets traded mixed and US futures have pared earlier gains.

“Against a backdrop of sky-high inflation, rising rates, and growing recession concerns, the S&P 500 has had its worst start to the year since 1962,” noted analysts at Goldman Sachs.

* USDIndex held above 104.40.
* Yields 10-year Treasury yield climbed 1.5 bp to 3.3% while Australia’s bonds also moved up.
* Equities – GER40 and UK100 futures are mixed with the UK100 down -0.2% ahead of the BoE decision, the GER40 up 0.3%.
* Oil settled to 115.76 after a steep drop, supported by tight oil supply (100k b/d highest since April 2020) and peak summer consumption, after the Fed sparked fears of slower economic growth and less fuel demand.
* Golds at $1830 – safe-haven demand & inflationary hedge buying VS a higher interest rate.
* Bitcoin down to $20,157.
* FX markets – EURUSD at 1.0409, USDJPY back above 134, Cable down at 1.2100 ahead of BoE.

BoE Preview: The BoE is still set to deliver another 25 bps rate hike this week, but stagflation risks are looking nowhere as serious as in the UK That should prevent the central bank from joining the “50 bp club” of central banks, but for now is unlikely to stop the BoE from sticking to the tightening path. The statement may sound somewhat more cautious now. Even the BoE’s own scenario suggests a technical recession next year and the latest batch of forecasts from the OECD and others highlight that the economy is under-performing, with the fallout from Brexit, the sanctions against Russia, and political turmoil all weighing on the growth outlook. PM Johnson managed to survive a confidence vote last week, but many feel that his days are numbered. Even within his own party the threat to unilaterally step back from the Northern Ireland protocol is not very popular and rather than uniting the nation behind Brexit, the government is facing an increasingly fragmented union. Nevertheless, with inflation running far above target, the BoE has little choice but to lift rates further for now, especially as house price inflation is also still running at double digits, and wage growth is picking up in tight markets.



Biggest FX Mover @ (06:30 GMT) GBPUSD (-0.84%) down to 1.20 area again. Intraday, MAs bearishly crossed, MACD histogram declines but holds above 0, RSI 40 & sloping. H1 ATR at 0.00377 & Daily ATR at 0.01434.

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 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 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 : 15th June 2022.

Market Update – June 15.


Trading Leveraged Products is risky

USD down (USDIndex 104.70), Stocks mixed (NASDAQ +0.18%, Dow -0.5% & S&P -0.38%). A boost to Australia’s minimum wage and RBA pledge to do what is necessary to meet the inflation target fueled the jump in yields. Expectations are now for  50 bp hikes in July as well as September and Australia’s curve shifted more than 20 bp higher today. – Yields extended higher as dip buyers have thrown in the towel for now, leaving sellers in control as the market adjusts to the potential for a very hawkish FOMC. (US 5yr & 7yr rates up to 3.606% and 3.59%, 2yr at 3.43%). US PPI increased 0.8% in May and the core rose 0.5% – bearish for the markets. ECB to hold emergency meeting “to discuss current market conditions”. A Bloomberg source story yesterday suggested that the ECB remains tight lipped on new plan to keep spreads in.


* USDIndex pulled back to 104.78.
* Yields have extended higher, at the highest rates in well over a decade. The 10-year cheapened over 12 bp to 3.488%, not seen since the spring of 2011.
* Equities – Nikkei and ASX lost a further 0.9% and 1.3% respectively. Hang Seng and CSI 300 are currently up 1.6% and 2.7%.
* Oil drifted to 116.55 before settling at 119.58 – amid FED and reports that US Senate Finance Committee chair Ron Wyden plans to introduce legislation setting a 21% surtax on oil company profits considered excessive.
* Golds near its lowest area in a month, now at $1,820.
* Bitcoin steady above $20K.
* BOJ offers to buy unlimited sum of JGBs with 7 years left until maturity.
* FX markets – EURUSD rebounded to 1.0498 from 1.0396, USDJPY back below 135 zone, Cable settled at 1.2040.

Today The focus will be on the ECB meeting but also on the dot plot and the terminal rate, as well as how Chair Powell assesses the outlooks of inflation, growth, and the labor market.



Biggest FX Mover @ (06:30 GMT) USDIndex (-0.35%) down to 50-hour SMA, 104.72. Intraday, MAs aligned lower, MACD histogram neutral, RSI 41 & sloping. H1 ATR at 0.14 & Daily ATR at 0.79.

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 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 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 : 14th June 2022.

Market Update – June 14 – Is the ugly Monday over?


Trading Leveraged Products is risky

USD spiked (USDIndex 105.10), Stocks plummeted once again (NASDAQ -4.68%, Dow -800pts & S&P close to -151pts). Friday’s hot CPI report; low consumer sentiment; stagflation worries continued; and global uncertainty over how hard the FOMC will have to slam on the brakes to slow demand and bring down inflation. Yields higher on fears of aggressive interest rate hikes would push the world’s largest economy into recession (US 5yr & 10yr back over 3.57% & 3.48%, 2yr at 3.33%). Asian markets have sold off in catch up trade, (Nikkei -1.30%). Oil up, Gold remains pressured by rising yields.



* USDIndex rallied to 105.10.
* Equities – Hang Seng and CSI 300 are up 0.3% and 0.4% respectively. GER40 and UK100 futures are posting gains of 1.0% and 0.8%, while a 1.6% rise in the USA100 is leading US futures higher.
* Oil & Gold had weaker sessions – USOil struggles to break $122.00 handle, Gold is slumped on the Fed outlook and the strength in the USD, to $1809.
* Bitcoin TANKED to $20,796. – Major cryptocurrency lending company Celsius Network’s freezing of withdrawals delivered the latest jolt to investors in the asset-class.
* FX markets – EURUSD down at 1.0458, USDJPY tested 135 zone, Cable trades up at 1.2200, from 1.2120.

Overnight –  ILO unemployment rate jumped to 3.8%. German HICP inflation was confirmed at 8.7% y/y, in line with the preliminary number. The national CPI rate stood at 7.9% and inflation is at the highest level since 1973, during the first oil price crisis. Chaoyang kicked off a three-day mass testing campaign among its roughly 3.5 million residents.

Today German ZEW, US PPI and ECB’s Schnabel speech.



Biggest FX Mover @ (06:30 GMT) BTCUSD (-7.02%). Drifts to 20781. Next key resistance is at 2017 peak, 19470. Intraday, MAs flattened, MACD histogram negative, RSI 23 but rising, indicating some temporary bounce but overall downtrend.

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 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 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 : 10th June 2022.

Market Update – June 10 – Stocks Tank & Yields Rise ahead of US CPI.


Trading Leveraged Products is risky

USD moved higher (USDIndex 103.10), Stocks TANKED into close (NASDAQ -2.75%, Dow -600 pts & S&P close to -100 pts) Futures steady. ECB  cut growth and raised inflation forecasts, confirmed end of PEPP and 25bp rate hike in July (some wanted 50bp) & 25bp in Sept. (the caution weighed on EUR). Yields rallied (US 5yr & 10yr back over 3.00%, 2yr at 2.84%), Asian markets have mostly slipped, (Nikkei -1.49%). Yellen inflation a serious problem “what I am focused on”. Goldmans & Deutsche now expect 2 x 50bp hikes from ECB in Sept & Oct and RTS poll sees the same from FED (bring it to 4 x 50bp hikes). Oil slips but holds on to gains, Gold remains pressured by rising yields. NZD bid overnight.



* USDIndex rallied to 103.33 apost ECB and ahead of US CPI today.
* Equities – USA500 -98 (-2.38%) at 4017, US500FUTS at 4025 now. AMZN –4% BABA +-8.13%, NFLX -4.96%, APPL -3.60% GOOGL -2%, MRNA -9.76%
* Yields 10-year yield higher (3.064% at close), trades at  3.055% now.   
* Oil & Gold had weaker sessions – USOil slipped but holds over $120.00 handle, Gold sank as Yields rallied from over $1855 to $1845 now.   
* Bitcoin continues to pivot around $30K.
* FX markets – EURUSD down at  1.0630, from a spike to 1.0770, USDJPY tested 134.50 zone (24-yr high) and holds 134.00, Cable trades down at 1.2500, from 1.2550.

Overnight –  PPI in Japan missed (9.1% vs 9.9%) but remains high, China CPI missed (2.1% vs 2.2%) & PPI in line 6.4% & down from 8% last month (Shanghai lockdowns)

Today US CPI, Canadian Jobs Report, US University of Michigan (Prelim.) & Speech from ECB’s Lagarde.



Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.54%). Moves higher from 0.6380 to  0.6420, as NZD gets a bid in the Asian session. Next key resistance 0.6450. MAs aligning higher, MACD histogram negative but turning higher, RSI 54 & rising,   H1 ATR 0.0011, Daily ATR 0.0068.

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 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 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 : 9th June 2022.

Market Update – June 9 – European Futures Down Ahead of ECB.


Trading Leveraged Products is risky

USDIndex steady at 102.50 but overall USD on bid. Stocks traded mostly lower, with China bourses hit by news suggesting that virus restrictions in part of Shanghai are already being tightened again amid a rise in case numbers, shortly after Covid lockdowns were lifted. Shanghai will lock down the Minhang district on Saturday morning for mass COVID-19 testing, according to Bloomberg. Hang Seng -0.9%, US stocks closed down over 1% (INTEL -5.28%), Yields back up (10-yr over 3% again), JPY pressured,  Brent & WTI rose over 2.5% on tight supply and China opening up. Yellen says some China tariffs still warranted. Bonds are under pressure, with a 6 bp jump in Australia leading the way overnight.

Overnight – China trade surplus widened as exports rebound.

* USDIndex dipped to 102.24.
* Equities – Hang Seng and CSI300 are currently down -0.9% and -0.8% respectively. JPN225 moved sideways, but the ASX lost 1.5%. GER40 and UK100 are both down -0.6% and US futures are also in the red. USA500 finished off -1.08%, while the USA30 was off -0.81% and the USA100 was -0.73% lower.
* Intel rethinks near-term spending plans amid economic uncertainty – freezes some hiring.
* Yields 10-year rose over 6 bps to test 3.045%. The 2-year was 4 bps higher at 2.77%. The 10-year Bund yield is up 0.4 bp at 1.35%.
* USOIL up to $123.13 after stronger-than-expected Chinese exports in May, but found a ceiling amid new Shanghai lockdown restrictions. Gold weaker again below 1850.
* NATGAS futures jump 25% this morning on US LNG outage.
* FX markets – Yen found some support in the near term. USDJPY is above 133.90. EURUSD found some buyers ahead of the ECB meeting, leaving EURUSD at 1.0712, while Cable dropped to 1.2516 and Sterling also declined against the EUR. Turkish lira slid to beyond 17.2.

Today ECB Rate Decision and Statement and US jobless claims.

ECB Preview: Markets are eagerly awaiting today’s press conference. Rate settings are expected to be held steady for now, and while there are some members who see the urgency to act sooner rather than later as inflation goes through the roof, the ECB’s timetable for the phasing out of stimulus effectively excludes a move on rates this week. Net asset purchases need to end first and Lagarde is expected to confirm that this will happen early in July, which would pave the way for a rate hike in July. Lagarde has already mapped out two moves in July and September and the basic scenario is for “gradual” 25 bp steps, although the discussion on a bolder kick off with a 50 bp boost in July has already started. We suspect that Lagarde will stick with a focus on “gradualism” for now. But she will not rule out a 50 bp step as the need to maintain credibility and assert the Bank’s commitment to price stability and the 2% inflation target seem increasingly urgent.



Biggest Mover @ (06:30 GMT) Platinum (-1.92%). Next key support at 970.00. H1 MAs aligning lower, MACD histogram sharply down, RSI 28, OS & declining, H1 ATR 3.91, Daily ATR 24.51.

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 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 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 : 8th June 2022.

Market Update – June 8 – Wait & See Mode Ahead of US Inflation.


Trading Leveraged Products is risky

USD moved lower at close but is currently retaking the 102.50 level. Stocks also higher into close (NASDAQ over 1%) on retailers and energy stocks, Yields cooled (10yr below 3%), Oil rallied over 1% to 13-week high on tight supply from private inventories. Yellen persistent high inflation “Unacceptable”. Demand for the safety of Treasuries picked up after the World Bank slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now face recession. In Asia, a rally in Chinese tech stocks that followed a batch of game approvals helped to keep stock market sentiment supported overnight, and the Hang Seng has gained nearly 2% so far. The CSI 300 is up 0.4%, while ASX and Nikkei lifted 0.4% and 1.0% respectively.

Overnight – JPY GDP beat (-0.1% vs. -0.3%) & Economic Watchers Sentiment better (54.0 vs 51.9), CHF Unemployment in line (2.2%) but German Industrial Production missed significantly (0.7% vs 1.3%).

* USDIndex dipped to 102.24 after Target Corp warned about excess inventory and said it would cut prices, offering some relief to those who think inflation may be peaking.
* Equities – CSI 300 is up 0.4%, while ASX and Nikkei lifted 0.4% and 1.0% respectively. GER40 and UK100 futures are posting gains of 0.3% and 0.2% respectively.
* Yields 10-year yield below the 3% mark helped extend the drop in yields.
* USOIL spiked to $120.35 – low oil inventories, Goldman Sacks – “we now forecast that Brent prices will need to average $135/bbl in 2H22-1H23 (up $10/bbl vs. prior forecast) for inventories to finally normalize by late 2023, the binding constraint to prices in our view. This represents summer retail prices reaching levels normally associated with $160/bbl crude prices”. The CEO of global commodities trader Trafigura said oil prices could soon hit $150 a barrel and go higher this year, with demand destruction likely by the end of the year.
* Bitcoin down to $30320 area now.
* FX markets – USD is continuing its ascent and USDJPY is above 133.53. EURUSD is slightly below 1.07 and Cable is at 1.2560.

Today EU GDP and Employment change, US Wholesale Inventories and EIA Crude Oil Stocks change.



Biggest FX Mover @ (06:30 GMT) Sugar (-3%). Dipped below 20- and 50-day SMA. Next key support at 18.60 from the Weekly Chart. H1 MAs aligning lower, MACD histogram sharply down, RSI 24, OS & declining, H1 ATR 0.12, Daily ATR 0.38.

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 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 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 : 7th June 2022.

Market Update – June 7 – RBA Surprises, Yields Rocket, Yen Dives.


Trading Leveraged Products is risky

USD moved higher (USDIndex 102.78), Stocks also higher into close (NASDAQ 0.40%) but Futures rocked (-0.60%) by a surprise 50 bps hike from the RBA (25-40 bp expected) and noises that there will be more to come. Yields rallied (US 10yr over 3.00%), Asian markets have mostly slipped, (Nikkei +0.10%) and YEN has tanked (USDJPY at new 20-year high). UK PM Johnson survives no confidence vote (211 vs 118) 41.2% of his own MPs want  him out UK Gilts rally GBP sinks. Oil slips but holds on to gains, Gold pressured by rising yields.

* USDIndex rallied to 102.82 ahead of ECB on Thursday & US CPI on Friday.
* Equities – USA500 -12 (-0.31%) at 4121, US500FUTS at 4096 now. More worries, following aggressive RBA, TWTR -1.5% after MUSK suggested he could walk away from the deal, AMZN +2% after 20 for 1 stock split. DIDI +23% & BABA +6%, Chinese regulators are reported to have concluded DIDI investigation.
* Yields 10-year yield higher (2.987% at close), trades at  3.064% now.   
* Oil & Gold had weaker sessions – USOil slipped from $120.00 handle to $119.36, Gold sank as Yields rallied from over $1858 to $1840 now.   
* Bitcoin rally over $30K was short lived, from $31.8K yesterday to trade at $29.4K now.
* FX markets – EURUSD at 1.0680, under 1.0700 again, USDJPY tested 133.00 zone and holds 132.60, Cable trades down at 1.2430,following political upheaval in UK.

Overnight Mixed data from Japan, Weak UK Housing data and German factory orders missed significantly (-2.7% vs -0.4%).

Today UK Composite/Services PMI (Final), Canadian Trade Balance.



Biggest FX Mover @ (06:30 GMT) USDJPY (+0.67%). Rallies to new 20-yr highs and within a smidge of 133.00 from sub 130.00 on Friday. Next key resistance 134.00 form the Weekly Chart. MAs aligning higher, MACD histogram positive, RSI 77, OB & rising,   H1 ATR 0.233, Daily ATR 1.18.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head HF 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 : 6th June 2022.

Market Update – June 6 – USD & Stocks steady inflation worries still loom.


Trading Leveraged Products is risky

USD remained steady (USDIndex 102.10) Stocks recover a tad from Friday’s post NFP sell off (NASDAQ -2.47%) and Yields also hold onto gains (2.957%). Asian markets mixed in thin trading today (AUD & NZD closed along with many EZ countries). Central bank outlooks, China’s virus lockdowns and inflation data remain in focus – NFP showed a tight jobs market and Earnings holding up, so FED may need to act again in September,  Saudi Arabia has increased oil prices & US will allow two companies to import Venezuelan oil into Europe. Musk predicted a gloomy US economy (following Dimon’s comments) and suggested TESLA needed to shrink its workforce by 10% (only to then withdraw the comment), US to pause, for 24mths, tariffs on Solar Panel imports, Kuroda “Japan will not tighten monetary policy”.

* USDIndex rallied to 102.25, back to 102.00 now.
* Equities – USA500 -68 (–1.63%) at 4108, US500FUTS at 4131 now. Worries about a more aggressive FEd during the Autumn weighed on stocks.
* Yields 10-year yield higher (2.957% at close), trades at  2.950% now.   
* Oil & Gold had mixed sessions – USOil rallied to $120.86 following Saudi news before slipping under $120, Gold sank from over $1874 on Friday to $1852 now.   
* Bitcoin rallied from under $30K on Friday to trade at $31.2K now.
* FX markets – EURUSD under 1.0725 again, USDJPY tested 131.00 brand holds  130.50, Cable trades over 1.2500, a no confidence vote in PM Johnson will take place later today by his own elected MPs.

Overnight CNY Caixin Services PMI missed significantly 41.4 vs. 46.1.

Today A light calendar with Holiday Closures in many parts of Europe and no econ. news scheduled for NA session. All eyes on RBA, ECB & US CPI data later this week.



Biggest FX Mover @ (06:30 GMT) GBPAUD (-0.44%). Rallies from sub 1.7300 on Friday to 1.7400 today following Johnson news. MAs aligning higher, MACD histogram positive & breaks 0 line, RSI 65 & rising,   H1 ATR 0.0024, Daily ATR 0.0050.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head HF 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 : 3rd June 2022.

Market Update – June 3 – Wild Swings Continued.


Trading Leveraged Products is risky

Trading is rather directionless this morning in the lead up to the jobs data. USD moved lower (USDIndex 101.70). Stocks extended gains overnight (NASDAQ +2.69%) and Treasuries bounced from red to green and back again. Asian markets managed pretty broad gains, with tech stocks still outperforming after they led yesterday’s rally on Wall Street (Nikkei +1.2%, ASX +0.9%) with China & HK closed today. European FUTS are lower (Italy, Spain & France closed & UK closed until Monday). Treasury announced a $96 bln package of coupon auctions for next week. Yesterday’s data showed strength in jobless claims and weakness in ADP private payrolls and factory orders.

* USDIndex pulled back to 101.70, reverting all the gains from Wednesday.
* Equities – USA500 (+1.84%) at 4189, while the USA30 was 1.33% firmer. The GER40 future is up 0.8% while US futures are looking more cautious as key US payroll numbers come into view.
* Yields 10-year rate was up 0.5 bps to 2.91%, with the 2-year 0.2 bps lower at 2.64%.
* Oil – USOil spiked to $116.27 before correcting to $114.60 now, following the bullish EIA inventory report that overshadowed the boost in production announced by OPEC+ in July and August, only to tumble on reports OPEC+ was considering excluding Russia from production quotas which suggested increased output from Saudi and the UAE to make up for the loss.
* Gold rallied to $1874.
* Bitcoin back above $30k.
* FX markets – USDIndex is slightly lower, EURUSD managed to move up to 1.0755, USDJPY is still holding close to 130.00, Cable is at 1.2574.

NOTE: NFP is unlikely to make any difference in terms of the Fed – but the labor market into Q3 will be an important determinant for the FOMC. Meanwhile, the markets continue to vacillate on risk-on, risk-off flows, and waver on inflation/growth uncertainties, as well as the outlook for the responses from key central banks, while volatility in energy and the ongoing distortions from supply chains also continue to impact.

Today EU Retail Sales, US NFP, ISM Services PMI and Speech from Biden.



Biggest FX Mover @ (06:30 GMT) Cocoa (-1.55%) dipped to 50-period SMA at 2470 from 2537. MAs aligning lower, MACD lines decline but hold above 0, RSI 46 but pointing higher, H1 ATR 19.07, Daily ATR 51.92.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HF 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 : 2nd June 2022.

Market Update – June 2 – USD Ticks Higher, Stocks Slip Yields Firmer.


Trading Leveraged Products is risky

USD moved higher (USDIndex 102.43) Stocks had a weak US session (NASDAQ -0.72%) and Yields rallied to 2.931%. Asian markets followed US lower (Nikkei -0.16%, Hang Seng -1.10%) with China closed today. European FUTS are lower (Italy, Spain & France closed & UK closed until Monday). Central bank outlooks and China’s virus lockdowns remain in focus (Shanghai open but zero policy still in place) amid concern that aggressive monetary policy tightening will weigh on growth outlook. BOC increased rates by 50bp  & Bullard remained very hawkish, both expected. Oil prices bounced ahead of OPEC+ today – Saudi Arabia ready to boost output should Russian production fall.

* USDIndex rallied to 102.72 from 101.28 & one-month lows on Monday. Back to 102.40 now.
* Equities – USA500 -31 (-0.75%) at 4101, US500FUTS at 4100 now. Walmart & Meta -2.49% (Sheryl Sandberg to leave Meta after 14 yrs as COO)
* Yields 10-year yield higher (2.931% at close), trades at  2.91% now.   
Oil & Gold had mixed sessions – USOil sank to $111.60 before correcting to $113 now following SA news ahead of OPEC+ meeting, Gold rallied over $1850 to $1852 from $1830 yesterday. 
* Bitcoin slipped back under $30K after 3-day move north. Trades at $29.8K now.
* FX markets – EURUSD down under 1.0700 again to 1.0670,  USDJPY breaks over  130.00, Cable trades at 1.2500, from 1.2450 yesterday. 

Overnight –  AUD Trade Balance significantly better than expected.

Today ADP Employment, Weekly Claims, Weekly Oil Inventories, OPEC+ Meeting, Speeches from Mester & NY Fed’s Logan.



Biggest FX Mover @ (06:30 GMT) USDCHF (-0.54%) A surprise spike in Swiss CPI puts pressure on SNB to act. Pair dived from 0.9640 to 0.9575. MAs aligning lower, MACD histogram negative & breaks 0 line, RSI 35 & falling,  H1 ATR 0.0013, Daily ATR 0.0070.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
Head HF 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 : 1st June 2022.

Market Update – June 01 – European stocks advance despite data.


Trading Leveraged Products is risky

Wall Street was generally lower, but off its worst levels. Bond and stock bears returned refreshed from the Memorial Day holiday and got right to work, pushing Treasury yields higher and Wall Street lower. Treasuries underperformed globally after comments from Fed Governor Waller on Monday where he supported several more 50 bp rate hikes to curb inflation. Additionally, record high Eurozone inflation and hawkish ECB speak from Villeroy and Visco added to the concerns over central bank tightening. US data were mixed with ongoing record strength in home prices but worsening in consumer sentiment. Today, European stock futures are advancing as Bunds move higher at the open, despite the plunge in German retail sales data at the start of the session, which flagged the impact of rising inflation on consumption trends.

Overnight: President Biden stressed he would not interfere with the Fed’s independence, in comments after meeting with Chair Powell and Treasury Secretary Yellen. Biden said his plan to address inflation “starts with a simple proposition, respect the Fed’s independence.” He also said Powell has noted he has a “laser focus on addressing inflation.” So as expected this was largely a photo op for the president as he tried to assure that he and Chair Powell are addressing inflation.

* USDIndex at 101.97, after 102.17 highs. The buck found renewed strength after comments from Fed Governor Waller who said on Monday, he favored several more half point rate hikes until the inflation rate is brought back toward the 2% target.
* Equities – The USA30 and USA500 closed down -0.67% and -0.63%, respectively, while the USA100 fell -0.41%. DAX and FTSE 100 futures are posting gains of 0.43% and 0.36%.
* Yields – 10-year rate spiked 13 bps to a high of 2.88%, and the 2-year climbed 10 bps to test 2.58%.
* Oil – USOil drifted to 114.05 from 120.45. Oil prices rallied on the economic hopes and news the EU would ban some Russian imports, but then collapsed into the close on reports OPEC+ was considering exempting Russia from production quotas, thus opening the door for increased output from the likes of Saudi and UAE.
* Bitcoin steady at 31,550.
* FX markets – USDJPY spiked to 129.35, with EURUSD at 1.0716, and GBPUSD has dropped below 1.2600, although Sterling is nudging higher against the EUR.

Today Eurozone unemployment rate, ECB Lagarde speech, ISM Manufacturing Index & PMI, BOC Rate Decision and Statement and lots of Fed speeches.



Biggest FX Mover @ (08:00 GMT) XAUUSD (-0.70%) broke the 20- and 200-day SMA. Intraday MAs flattened, MACD histogram & signal line well below 0, RSI 34 but flattening, H1 ATR 3.16, Daily ATR 21.92.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HF 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 : 31st May 2022.

Market Update – May 31.


Trading Leveraged Products is risky

Stock markets traded mixed. Overnight Chinese data showed a slowdown in the pace of contraction in the manufacturing sector. Beijing’s new policy support, which includes cash handouts for hiring graduates and support for internet companies’ offshore listings, supported the sentiment a bit. In the rest of the world though, inflation jitters returned and yields spiked, with Australia’s 10-year up 8.5 bp and the German Bund yield lifting 1.0 bp to 1.06%. US Dollar stabilized as Treasury yields spiked.

European open:  Swiss economy stronger than expected at the start of the year. Official GDP numbers beat expectations and showed a quarterly growth rate of 0.5% q/q up from 0.3% q/q in Q4 last year. Services were still held back at the start of the quarter by virus restrictions, and the impact of Russia’s invasion of Ukraine won’t show in these numbers yet. SNB head Jordan warned that the fallout from the war and sanctions against Russia could mean stagflation risks globally, but still, with these numbers, the SNB’s negative interest rate environment will also be challenged.

* USDIndex recovered slightly to 101.79.
* Equities – Nikkei and ASX meanwhile closed with losses of -0.3% and -1.0% respectively as inflation jitters returned and yields spiked. GER40 and UK100 up 0.9% and 0.4%.
* Yields – US 10-year rate has jumped 9.4 bp to 2.83% as markets return from yesterday’s holiday.
* Oil – USOil spiked to $119.20 per barrel as demand expectations pick up and EU leaders agreed a partial ban on Russian oil.
* Bitcoin extended gains above 20-day SMA for the first time since April 7.
* FX markets – USDJPY lifted to 127.33, EURUSD down to 1.0734, Cable below the 1.26 mark.

Today GDP from Switzerland and Canada for Q1, German unemployment, Eurozone HICP. US housing index, Chicago index and Consumer Confidence. The Biden-Powell meeting is also on tap.



Biggest FX Mover @ (08:00 GMT) EURUSD (-0.39%) declined to 1.0730 due to USD strength. MAs aligning lower, MACD histogram zeroed, RSI 35 & falling, H1 ATR 0.00117, Daily ATR 0.00942.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HF 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 : 30th May 2022.

Market Update – May 30 – Month-end Rebalancing.


Trading Leveraged Products is risky

Risk appetite continued to surge with Wall Street closing sharply higher on Friday ahead of the long Memorial Day weekend. Worries that an aggressive FOMC policy posture with officials intent on destroying growth to curb inflation have been dissipating. USD down from Friday’s highs (USDIndex 101.39) as Fed bets ease. Today, Stocks had a very strong start to the day as concern over aggressive tightening in the US and China’s virus lockdowns eased somewhat. (NASDAQ +1.4%, Nikkei +2.2%). Shanghai said on Sunday “unreasonable” curbs on businesses will be removed from June 1, while Beijing reopened parts of its public transport as well as some malls. US markets will remain closed for a holiday today, but across the Eurozone Yields are rising as confidence improves and the German 10-year has lifted 4.7 bp to 1.00% in early trade. The Swedish economy contracted -0.8% q/q in Q1, a much weaker than expected result. Spanish HICP inflation hit 8.5% in May, and German import price inflation came in at 31.7% in April readings, up from 31.2% y/y.

* USDIndex extends declines and trades at 101.39.  Chair Powell confirming that a 75 bp hike is not on the table for now has helped stabilize investor sentiment and encourage bargain hunters.
* Equities – Nikkei up 1.8% at 27,263.37, a level not seen since April 21, Topix was up 1.59% at 1,916.88. Shares of shipping firms such as ISHIP.T fell 4.3 which was the worst performer. GER40 and UK100 are up 0.9% and 0.4%.
* Yields – German 10-year has lifted 4.7 bp to 1.00% in early trade.
* Oil & Gold up – USOil rallied to $115.80, and Gold retested the $1863 barrier, holding over $1850 at $1854. Markets waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine.
* Bitcoin holds on the back foot – below 31K.
* FX markets – EURUSD up to test 1.0770, USDJPY retests up to 127.34, Cable pull back to 1.2634 from 1.2656 this morning.

Today German HICP, Fed’s Waller speech, New Zealand building permits and Japanese labor data and retail trade.



Biggest FX Mover @ (08:00 GMT) CADCHF (+0.39%) jumped to 0.7550 on EU open, and retook a place above the 50-day SMA. In the 1-hour chart, MAs aligning higher, MACD histogram positive & holds 0 line, RSI 64 & rising, H1 ATR 0.00099, Daily ATR 0.00747.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
HF 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 May 2022.

Market Update – May 27 – USD 1-month low, Stocks Rally, Yields Ease.


Trading Leveraged Products is risky

USD sinks to 1-month low (USDIndex 101.43) as CB easing pressures absorbed, despite GDP slipping to -1.5% from -1.3% & Pending Home sales at -3.9% from -1.6%. Stocks had a very strong day on weaker USD (NASDAQ +2.68%) and Yields slipped. Asian markets followed US lead (Nikkei +0.66%, Hang Seng +2.07%) and European FUTS are higher.  BOJ’s Kuroda & PM Kishida, talk up YEN and want it stabilized, see core CPI at 2% for next 12-months.

* USDIndex sinks further to 4-week lows trades at 101.55. (-1.5% this week, after -1.37% last week)
* Equities – USA500 +79 (1.99%) at 4057, US500FUTS at 4050 now. Discount Retailers lead markets higher on good Earnings – Dollar Tree +21.87%, Macy’s +19%, Dollar General +13% TSLA +7% NVDA +5%
* Yields 10-year yield edged lower to 2.75% at close and trades at  2.76% now.   
* Oil & Gold had mixed sessions – USOil rallied after a cautious week back to test over $114, trades at $13.70 now, Gold is holding over $1850 at $1854. 
* Bitcoin continues to weaken under $30K at $28.6k, having touched $27.9k yesterday.
* FX markets – EURUSD up to test 1.0750, breaching 1.0700 again, USDJPY capped  under 127.00, having tested 126.50 Cable to 1.2625, from 1.2540 yesterday.

Overnight – JPY – Tokyo Core CPI in line, (1.9%) AUD Retail Sales  in line (0.9%)

Today US PCE Price Index, Personal Income & Consumption, Speech from ECB’s Lane.



Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.51%) gave up yesterday’s declines to 0.6450 and retook 0.6500 today, trades at 0.6512 (16-day high). MAs aligning higher, MACD histogram positive & holds 0 line, RSI 65 & rising, H1 ATR 0.0010, Daily ATR 0.0077.

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 HotForex Economic calendar.

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Click HERE to READ more Market news.

Stuart Cowell
HF 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 May 2022.

Market Update – May 26 – FOMC 100bp by July, USD Stable.


Trading Leveraged Products is risky

USD stable today (USDIndex holds 102.00) following FOMC minutes that showed agreement by “most participants” that 50 bp hikes in June & July would “likely be appropriate”, Stocks had a positive session (NASDAQ +1.50%) and Yields ticked up  as treasuries slipped. Asian markets mixed (Nikkei -0.27%) Shanghai reopening gradually  (Port is 95% operational & schools from June 6).

* USDIndex rotates at  102.00
*Equities – USA500 +37 (0.95%) at 3978, US500FUTS at 3967 now. NVDA +5% at close but lowered outlook following Earnings announcement, -6.82% after hours.
Yields 10-year yield edged up to 2.781% and the policy-sensitive two-year yield was flat at 2.502%. 
*Oil & Gold had mixed sessions – USOil steady after a cautious rally this week back up  to $110, Gold is weaker – broke below $1850, down to  $1846. 
*Bitcoin rotates under $30K – at $29.6k, having touched $28.6k yesterday.
*FX markets – EURUSD up to test 1.0670, breach of 1.0700 limited, USDJPY back over 127.00, at 127.25 Cable up to 1.2550.

Overnight – RBNZ Orr – will move on rates quickly, JPY PPI beats at 1.7% vs 1.5%, World Bank says Russian invasion of Ukraine could cause “global recession”.

Today Today – US GDP (2nd), US IJC, Canadian Retail Sales, UK Chancellor Sunak, Fed’s Brainard. Earnings from Alibaba, Baidu. Ascension Day holidays – Germany, France, Switzerland, Denmark, Sweden, & Norway all closed.



Biggest FX Mover @ (06:30 GMT) EURNZD (-1.02%) Tanked from 1.6650 to 1.6425 on Hawkish RBNZ. MAs aligning lower, MACD histogram turned negative crashing signal line  RSI 29, OS & falling, H1 ATR 0.0043, Daily ATR 0.01413.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
HF 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 : 25th May 2022.

Market Update – May 25 – Stocks Volatile, USD Stable, NZD Surges.


Trading Leveraged Products is risky

USD slipped again, but is  stable today (USDIndex 102.00), weak global PMI data & US data missed and Powell adding to rate hike expectations meant Stocks had another volatile session (SNAP lost -43%, and other big tech stocks hit NASDAQ -2.35%) Yields down as treasuries firmed. Asian markets mixed (Nikkei -0.26%) RBNZ raised by 50bps & Gov. Orr had more hawkish outlook than expected (rates to 4%?) NZD surged. NK tested a range of missiles as Biden left Asia, Zelenskiy says Donbas situation critical.

* USDIndex down to 101.64 yesterday back to 102.00
* Equities – USA500 -32 (0.81%) at 3941, US500FUTS at 3962 now. Snap lead some huge declines.
Yields down, 10-yr closed at 2.76%, now 2.77% 
* Oil & Gold both had positive sessions – USOil back up  to test $111 Gold holds $1860 today, down from $1870. 
* Bitcoin rotates through $30K – but under today at $29.8k.
* FX markets – EURUSD up to test 1.0750, holds 1.0700, USDJPY down to 127.00, Cable up to 1.2540.  NZD off 5-week low at 0.6515

Overnight – Hawkish RBNZ, German Gfk missed, French Consumer Confidence missed.

Today US Durable Goods, FOMC Minutes, ECB Financial Stability Review, Speeches from ECB’s Lagarde, Lane, Panetta, Fed’s Brainard.

Today – US Durable Goods, FOMC Minutes, ECB Financial Stability Review, Speeches from ECB’s Lagarde, Lane, Panetta, Fed’s Brainard.



Biggest FX Mover @ (06:30 GMT) EURNZD (-1.02%) Tanked from 1.6650 to 1.6425 on Hawkish RBNZ. MAs aligning lower, MACD histogram turned negative crashing signal line  RSI 29, OS & falling, H1 ATR 0.0043, Daily ATR 0.01413.

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 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 HERE to register for FREE!

Click HERE to READ more Market news.

Stuart Cowell
HF 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.