HFMarkets (hfm.com): Market analysis services.

[HFblogNews]

Date : 29th March 2023.

Market Update – March 29 – USD continues to ease as sentiment lifts.


Trading Leveraged Products is risky

Bank jitters continue to ease lifting sentiment & Asian markets despite US stocks closing in the red. The USD eased another 0.3% and Yields gained with the 2-yr regaining 4%. Alibaba surged 14.3% in US trading and was up 16.3% at one point in Hong Kong after it announced it will split into 6 separate entities. Other Chinese tech companies (Tencent & JD.com)) are stronger. The YEN continues it’s volatile week as year end looms, AUD is lower on weaker Inflation, European & US Futures are higher. US Consumer Confidence was better than expected, the Fed’s Barr called SVB “not well managed” and that the $142 billion of withdrawals in first week of March represented 81% of 2022 deposits.

Overnight: AUD CPI missed (6.8% vs. 7.2% & 7.4%) and adds to prospects of RBA pausing rate hikes at next week’s meeting. German GfK Consumer Climate in-line (-29.5% vs -29.5% & -30.6%).

*FX – USDIndex drifted 0.3% lower yesterday to test 102.00 before a bounce to 102.25. EUR rallied from 1.0800 to 1.0850 now. JPY continued its volatile week back to 132.00 now after lows of 130.40 yesterday, Sterling rallied over 1.2300 to 1.2340 and holds at 1.2325 now.
*Stocks – US markets lower (-0.12% to -0.45%) Major movers outside the Chinese tech stocks were OXY +4.29% & LYFT -7.6%. US500 –0.16% (-6.26) to 3971, US500 FUTS +0.37% higher at 4026 now.



*Commodities – USOil – Futures recovery continued again yesterday from $70.00 to hold over $73.00 and test $74.00. EIA Inventories today. Gold – dipped to $1950 once again, rallied to $1975 and trades at $1960 now.
*Cryptocurrencies – BTC has recovered to $28k today after testing $26.5k again. SBF faces new SEC charges that he tried to bribe Chinese officials with a $40 million payment.

Today - US House Financial Services Committee re. SIVB, Speeches from Fed’s Barr, BoE’s Mann, ECB’s Schnabel.



Biggest FX Mover @ (07:30 GMT) USDJPY (+0.79%). Volatility continues. Tested down to 130.40 after weak inflation yesterday, testing 132.00 today. MAs aligned higher, MACD histogram & signal line positive & rising, RSI 71, OB & rising, H1 ATR 0.216, Daily ATR 1.910.



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.

[HFblogNews]

Date : 30th March 2023.

Market Update – March 30 – Stocks Recover & USD finds a floor.


Trading Leveraged Products is risky

Bank jitters continue to ease lifting sentiment again, US stocks rallied (+1% to +1.79%) led by the NASDAQ, Asian markets are mixed and European FUTS are positive. The USD bounced 0.2% but has eased overnight and Yields drifted sideways. Earnings beats from Micron (+7.19%) & Lululemon (12.72%) were upbeat surprises too. The YEN continues it’s volatile week as the Japanese financial year end looms. AUD recovers from yesterday’s weaker performance. US Pending Home Sales were better than expected (+0.8% -2.9%) and Oil Inventories significantly lower (-7.5M vs +1.8M) the Fed’s Barr continued to claim that “many were to blame for Silicon Valley Bank failure”.

Overnight: German CPI North Rhine Westphalia (many more States to follow during the day) March CPI +6.9% vs +8.5% prior.

*FX – USDIndex recovered 0.2% yesterday but remains capped at 102.50, trading at 102.25 now. EUR holds over 1.0800 to trade at 1.0840 now. JPY continued its volatile week rallying from under 131.00 to 132.50 now, Sterling plotted a 39-day high yesterday at 1.2360, before receding to 1.2325 now.
*Stocks – US markets rallied lead by tech stocks yesterday (+1.00% to +1.79%) #US100 entered a technical bull market after gaining +20% from its December low and the #US500 closed above 4000 and also over its 50SMA for the first time in over three weeks. Major movers also included INTEC +7.61% & AMZN +3.1%. US500 +1.42% (+56.54) to 4027, US500 FUTS also higher at 4066, breaking & breaching key 4050 resistance.



*Commodities – USOil – Futures declined from $74.00 after EIA Inventories and trades at $73.60 now. Gold – dipped to $1955 once again, and trades at $1965 now.
*Cryptocurrencies – BTC has breached $29k today and holds $28.5k again.

Today - Swiss KOF Indicator, EZ Consumer Confidence, German CPI, US Weekly Claims, Q4 GDP & PCE Prices, Banxico & SARB Policy Announcement, CBRT Minutes, Speeches from Fed’s Barkin, SNB’s Maechler & Moser.



Biggest FX Mover @ (07:30 GMT) EURNZD (-0.30%). Rallied from 1.7300 yesterday to big DAILY resistance at 1.7450 today before turning lower to break 1.7400. MAs aligning lower, MACD histogram & signal line positive but falling, RSI 45.90 & falling, H1 ATR 0.00189, Daily ATR 0.01695.



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.

[HFblogNews]

Date : 1st April 2023.

Events to Look Out For Next Week.


Trading Leveraged Products is risky

It’s a holiday shortened week ahead as most markets will be closed on Friday for the Easter holidays, however Inflation and Banks remain the focal point. The advent of a new month and new quarter could further improve risk appetite despite some ongoing jitters in regional banks, still tight jobless claims, and hawkish central bankers. Next week’s heavy dose of global data releases includes the RBA and RBNZ rate decision and the employment data from Canada, while US NFP is in the spotlight.

Monday – 03 April 2023

*Consumer Price Index and Core (CHF, GMT 06:30) – Swiss inflation for March is expected to ease at 0.4% from 1.9% previously.
*ISM Manufacturing PMI (USD, GMT 14:00) – The ISM index is expected to slip to 47.5 in March, after a rise to 47.7 from a 3-year low of 47.4 in January.

Tuesday – 04 April 2023

*OPEC-JMMC meeting attended by representatives from the 13 OPEC members and 11 other oil-rich nations.
*Rate Statement & Interest Rate Decision (AUD, GMT 04:30) – The RBA is considering a pause on rate rises, according to the minutes to the March 7 meeting. They flagged that the board will consider keeping the cash rate on hold at 3.6% in April, if the economy shows signs of softening. “Members agreed to consider the case for a pause at the following meeting recognising that pausing would allow additional time to reassess the outlook for the economy”. “At what point it will be appropriate to pause will be determined by the data and the board’s assessment of the outlook”.

Wednesday – 05 April 2023

*Rate Statement & Interest Rate Decision (NZD, GMT 02:00) – As the high inflation continues the RBNZ is expected to continue hiking, with markets pricing in a nearly 100% chance of a 25 bps rate hike to 5%. New Zealand’s economy is expected to have shrunk 0.3% in Q1 following a 0.6% growth last quarter, indicating a mild recession.
*ADP Non-Farm Employment Change (USD, GMT 12:15) – ADP is expected to climb to 200K in March after the 242K seen in February.
*ISM Non-Manufacturing PMI (USD, GMT 14:00) – The ISM Non-Manufacturing PMI should ease to 54.8 from 55.1, versus a 3-year low of 49.2 in December. We’re seeing a 16-month producer sentiment pull-back from robust peaks in November of 2021, with many of the various component categories now in contraction territory. Producers are facing big headwinds from elevated interest rates, recession fears, and now a banking crisis, but have benefited from the need to rebuild inventories following a prolonged period of supply chain disruptions.

Thursday – 06 April 2023

*Labour Market Data (CAD, GMT 12:30) – Canada’s employment change is anticipated to contract by -4.2k in March from 21.8K growth last month. Unemployment and participation rate are seen unchanged.

Friday – 07 April 2023

*Good Friday – The stock and bond markets will both be closed.
*Event of the Week – Non-Farm Payrolls (USD, GMT 13:30) – A 220K March nonfarm payroll increase is anticipated, after gains of 311k in February. A continued tight path for claims in March implies some upside payroll risk. The jobless rate should hold steady at 3.6% from February, up from the 54-year low of 3.4% (3.43%) in January. Hours-worked are assumed to rise 0.2% after a -0.1% February drop, while the workweek holds steady at 34.5. Average hourly earnings are assumed to rise 0.3% after a 0.2% gain in January, while the y/y wage gain should fall to 4.3% from 4.6%. In the last expansion, we saw a 3.5% peak for y/y wage gains in both February and July of 2019, before the pandemic-boost to an 8.0% peak in April of 2020. The ensuing strength in wage gains has allowed continued robust y/y increases, though the return of low-paid workers to the workforce is likely restraining wage increases.

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.

[HFblogNews]

Date : 3rd April 2023.

Market Update – April 3 – Q2 kicks off with Easter Week.


Trading Leveraged Products is risky

Q2 kicks off with Easter Week, meaning many markets around the world will be closed, likely making for a slower, quieter pace of trading after the whiplash in Q1.

USD strengthened today and extends Friday’s gains with the help of diminished bank fears and the improved outlook on the economy. US Stock markets closed out Q1 firmly with solid gains and some quarter-end flows. The major indexes are higher for the year-to-date, paced by the US100‘s 16.8% pop. Asian markets are higher into the new quarter, US futures are mostly lower but European are mixed. Australian national home values rose 0.6% in March from February, breaking a 10-month streak of falls, according to property research group CoreLogic. Oil jumped $5+/barrel today as OPEC announced a surprise output cut.



Overnight: Japan – Tankan Large All Industry Capital Expenditure missed significantly (3.2% vs 9.9%), China – Caixin PMI (50 vs 51.7), Australian Building Permits (4% vs -2.6%).

*FX – USDIndex rallied to 12.58, EUR dipped to 1.0780 having traded to 1.0930 last week. CHF topped to 0.9195 but currently gains some ground against USD after Swiss CPI inflation dropped more than anticipated. JPY continued spiking to 133.80 as Japanese data missed significantly. Sterling retests 1.2300.
*Stocks – US markets closed the Quarter higher and today holding some gains with US30 holding above 33,450, US500 also higher at 4120 and US100 slightly lower but above 13,190.



*Commodities – USOil – Futures rallied again on the weaker USD to hold over $78.88 at $81.47. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move.
*Gold – pullbacked to $1949.65 once again, holding 1-week’s support.
*Cryptocurrencies – BTC holds $27.4k.

Today - ISM Manufacturing PMI & BOC Business Outlook Survey.



Biggest FX Mover @ (07:30 GMT) USOIL (+5.02%). Rallied to 81.43 this morning but currently sits at 78.91. MAs steady, MACD histogram & signal line positive & rising, RSI 70.72, H1 ATR 0.82, Daily ATR 3.35.

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.

[HFblogNews]

Date : 4th April 2023.

Market Update – April 4 – RBA watered down its tightening bias!


Trading Leveraged Products is risky

USD drifted, returning end of quarter gains on more signs of slowing in manufacturing activity, which had boosted Treasuries yields but after the data reversed the selloff. Implied Fed funds futures dipping too as the market reduced slightly the risk for a May rate hike. US Stock markets closed higher except US100. European futures are slightly higher. Oil held gains above $80 led by OPEC+ and Saudi’s pledge of its own of 500k reduction (“Saudi First”), which was the main driver across assets.

Overnight: RBA – held rates unchanged VS expectations – The bank has not ruled out a resumption of rate rises in the future. Fed’s Bullard (nonvoter) expects funds rate over 5% to achieve inflation target. ECB hawk Holzmann suggested that another 50 bp hike in May is not out of the question.

*FX – USDIndex sagged to a low of 101.98 on the growth outlook and less hawkish Fed view, but the index finished the day at 102.03. EUR lifted to 1.0916. JPY underperformed as traders weighed in the impact of higher oil prices on Japan’s manufacturing sector. Currently back up to 132.80 amid wider weakness in the Yen. Sterling boosted to 1.2400, amid USD weakness and as UK March manufacturing PMI revised down.




*Stocks – The US30 rallied 0.98%, led by the jump in energy. The US500 was 0.37% in the green, while the US100 slipped -0.27%. Nikkei and ASX managing slight gains, but China bourses trading narrowly mixed. The Hang Seng underperformed after the US100 closed in the red, with the tech sector not benefiting hugely from the more cautious tone of central banks.
*Commodities – USOil – Saudi’s pledge of its own of 500k reduction was the main driver across assets. USOIL ended with a 6.28% pop to $80.42, up over $80 for the first time since March 6 (just before SVB went under), and the contract is up 10% since last Wednesday.
*Gold – at 5-day support, $1976.
*Cryptocurrencies – BTC holds $27.4k.

Today - European PPI, Canadian Building permits, US Jolts and Factory Orders.



Biggest FX Mover @ (07:30 GMT) USDRUB (+5.02%). Rallied to 78.50 this morning. MAs aligned higher, MACD histogram & signal line positive & rising but RSI flat and Stochastic posted a bearish cross. H1 ATR 0.4139, Daily ATR 0.9496.

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.

[HFblogNews]

Date : 5th April 2023.

Market Update – April 5 – Stock markets struggle.


Trading Leveraged Products is risky

USD remains under pressure, post the weaker than expected JOLTS and factory orders reports which set the stage for another strong rally in Treasuries as they heightened beliefs the FOMC is nearing the end of its tightening cycle. Yields plunged on the data headlines. RBNZ surprised, raised to 5.25% from 4.75% – the country’s economy is headed for recession, defined as two consecutive quarters of negative growth. US Stock markets sold off slightly into the afternoon with declines of about -0.5% as the weaker data dominated. BoE’s Hunt hinted for a rate rise in May. Pound at its highest level in 10 months, with slightly stronger than expected economic growth and an uptick in inflation in February raising the chances of higher interest rates. German manufacturing orders much stronger than expected.

*FX – USDIndex ranging 101.11-101.29. EUR steady above 1.0950. JPY lifted extending 3-day gains, currently at 131.50 from 133.75 high against USD. Sterling boosted to 1.2522 reaching June 2022 highs.



*Stocks – Asian stock markets struggled, and European stock futures are also mostly in the red, after another disappointing data round in the US undermined confidence in the recovery and left Wall Street with another loss. Japanese markets underperformed and the Nikkei lost -1.7%. Walmart shares -1% afterhours as it sticks with cautious sales outlook for first quarter. Ford’s quarterly sales jump 10% as supply improves.
*Commodities – USOil is sideways between $80- $82 as concerns of further tightening support oil prices for now.
*Gold – rallied to $2026.
*Cryptocurrencies – BTC extending above $28.5k.

Today - Service PMI’s from EZ, UK & US ISM Services & Trade Balance and ADP Private Payrolls.



Biggest FX Mover @ (07:30 GMT) NZDUSD (+0.52%). Spiked to 0.6378. MAs flattened, MACD line below histogram, RSI turn below 80 and Stochastic at 55 indicating the end of the rally.

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.

[HFblogNews]

Date : 6th April 2023.

Market Update – April 6 – Eyes on Jobs.


Trading Leveraged Products is risky

USD wobbled initially and stumbled to 101.4 on the data, but recovered to close at 101.75. Another data miss, a further drop in bonds. Treasuries rallied further after weaker ISM services and ADP numbers added to expectations for a slowing economy that will keep the FOMC hawks grounded, if not in May, then in June. The combination of risk aversion, reduced expectations for Fed tightening, short covering, and technicals all helped propel the move. Wall Street was mixed all session & Asian equities declined following the US lower as investors switched their focus to the prospect of a recession. German industrial production surged 2.0% m/m in February, adding to signs that activity has strengthened, and that Germany will escape a technical recession! UK house prices rose unexpectedly in March.

Overnight – China & HK reopened but the regions stocks also remained heavy ahead of Easter Weekend. – Chinese Services PMI grew strongly, the AUD trade balance was better than expected but weighed on AUD & NZD.

*FX – USDIndex ranging 101.11-101.29. EUR and GBP are weaker but steady above 1.0900 and 1.2450 respectively. JPY also lost some ground against USD rebounding to 131.50.



*Stocks – US100 dropped -1.07%, while the US500 fell -0.25%, with the US30 rising 0.24%. Western Alliance Bancorp shares have fallen further today, dropping some -17% following an update on its Q1 financials yesterday on a lack of details. Losses are being pared slightly after just releasing further information on its deposits, noting total deposits declined to $47.6 bln in Q1 from $53.6 bln to end Q4. It is slated to announce its earnings on April 18 after the close.
*Commodities – USOil is sideways between $79-$80.
*Gold – prices have slipped to $2012 from $2032, but the contract is holding above $2000 after breaking that barrier yesterday (closing basis) for the first time since March 2022.
*Cryptocurrencies – BTC flat at $28k.



Today - US Jobless Claims, Canadian Employment data & Speech from the Fed’s key Hawk – Bullard.



Biggest FX Mover @ (07:30 GMT) NZDJPY (+0.52%). On EU open rebounded from 82.42 but holds well below PP. MAs reversed but not bullishly crossed yet, while MACD & RSI remain negative.

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.

[HFblogNews]

Date : 7th April 2023.

Market Update – April 7 – Stocks & Dollar Higher Ahead of Jobs Day.


Trading Leveraged Products is risky

Trading was cautious heading into the March jobs report and the Easter holidays. Most global markets will be closed on Good Friday, with much of Europe also shut for Easter Monday. Wall Street will not trade today, but the Treasury market will be open for an abbreviated session due to the employment report. The USD recovered from lows, Stocks closed a tad higher and Yields slipped again (US 10-yr at 3.288%). Gold tested down to $2,000 before settling a $2007.82, & USOil closed at $80.70.

Overnight: Japan – February household spending (weaker) +1.6% vs +4.3% & Leading Indicator Index rises to 97.7 vs 96.5 last time.

*FX – USDIndex slipped to 101.06 yesterday and remains below 102.00 today at 101.50. EUR slipped under 1.0900 yesterday but trades at 1.0920 now. JPY found a floor at 131.00 this week but remains under 132.00 for a fourth day. Sterling’s decline from the key 125.00 holds at 1.2440, next support 1.2425.
*Stocks – US markets, closed mixed led by tech stocks yesterday (+0.76% to -0.03%) #US500 closed at 4105 – US500 FUTS also higher at 4128.



*Commodities – USOil – Futures held the key $80.00 and a new equilibrium following the OPEC production cut last weekend. Gold – tested into $2000 once again, before settling a $2007.82
*Cryptocurrencies – BTC continues to rotate at what is becoming the key $28k again.

Today - Most trading Centres closed for Good Friday, US NonFarm Payrolls.



Biggest FX Mover @ (07:30 GMT) AUDJPY (+0.31%). Broken a 3-day fall from a test of the 90.00 zone earlier in the week, recovering 88.00 today. MAs aligning higher, MACD histogram & signal line turning positive & rising, RSI 59.35 & rising, H1 ATR 0.103, Daily ATR 1.089.



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.

[HFblogNews]

Date : 10th April 2023.

Market Update – April 10 – USD Recovers, JPY awaits Ueda.


Trading Leveraged Products is risky

US Payrolls on Friday were a near bullseye, with a 236k rise in March after -17k in revisions, though there was a skewing of weakness toward the goods sector. We saw the expected 0.3% hourly earnings rise that left a 4.2% y/y gain. The jobless rate fell to 3.50% from 3.57%, leaving the rate still above the 54-year low of 3.43% in January, with hefty gains of 577k for civilian employment and 480k for the labour force, while the labour force participation rate rose to a new a 3-year high of 62.6% from a prior high of 62.5%. However, there was a further drop in the workweek to 34.4 in March that fueled a -0.1% drop in the hours-worked index after small downward revisions. Overall, it raises expectations of a 25 bp hike from the Fed on May 3rd.

Overnight: Japan – March consumer confidence index 33.9 vs 31.1 prior.

*FX – USDIndex slipped under 101.50 on Friday and remains below 102.00 today at 101.85. EUR remains at 1.0900 today, having spiked down to 1.0875 on the NFP data. JPY breached 132.00 on Friday and holds 132.60 ahead of Gov. Ueda. Sterling’s decline from the key 1.2500 tests 1.2400 today.
*Stocks – US markets, closed mixed led by tech stocks on Thursday (+0.76% to -0.03%) #US500 closed at 4105 – US500 FUTS touched 4145 on Friday but are lower today at 4127. Q1 Earnings Season kicks off with the big Wall Street Banks this week.



*Commodities – USOil – Futures hold the key $80.00 and even breached $81.00 briefly earlier following the OPEC production cut last weekend. Gold – broke below the vital $2000, testing into support at $1987, before recovering to $1995.
*Cryptocurrencies – BTC slipped to $27.7k, recovered the key $28k and tests $28.4k today.

Today - Most trading Centres remain closed for Easter Monday, Speeches from new BOJ Governor Ueda, & Fed’s Williams.

Biggest FX Mover @ (07:30 GMT) USDJPY (+0.49%). A 3-day rally from under 131.00 continues testing 132.75 resistance today. MAs aligned higher, MACD histogram & signal line positive & rising, RSI 62.00 & rising, H1 ATR 0.191, Daily ATR 1.310.



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.

[HFblogNews]

Date : 11th April 2023.

Market Update – April 11 – Stocks & USD Mixed as Inflation & Earnings Loom.


Trading Leveraged Products is risky

US #stockmarkets closed mixed – Industrials higher – Tech lower (#Samsung said they will cut chip production – lifting Western Digital & Micron +8%). USD continued to recover, (USDIndex topped at 102.50), Treasuries slipped again (10 yr 3.41%) and #BTC breached $30k for the first time in 10mths. In the Asian session stocks are higher (ASX +1.3% after Easter break & Nikkei +1.4% after a Dovish outlook from new BOJ Governor Ueda & Buffet said he was planning to add to his Japanese investments. AUD is outperforming.

Overnight Data Chinese #CPI cooled to 0.7% from 1.0% and missed expectations, and #PPI fell further remaining significantly deflationary at -2.5% from -1.4%.

*FX – USDIndex rallied to 102.50 yesterday and hold at 102.00 today. EUR tested down to 1.0850 but is back to test 1.0900 today. JPY breached 133.00 yesterday & rallied to 133.88 as BOJ Governor Ueda, confirmed there will be no immediate policy change from the BOJ. Sterling’s decline from the key 1.2500 stalled at 1.2350 and now trades back at 1.2400 today.
*Stocks – US markets closed mixed (+0.30% to -0.03%) after a very weak open. #US500 closed at 4109 – US500 FUTS are higher today at 4140. Q1 Earnings Season kicks off with the big Wall Street Banks on Friday & FRC today.



*Commodities – USOil – Futures tested under the key $80.00 level but holds at $80.50 now. Gold – tests the vital $2000, level again today having been as low as $1982, yesterday.
*Cryptocurrencies – BTC rallied over 8% from the $28k level and breached $30k earlier today spiking to $30.7k on speculation that interest rates may have peaked. Additionally, a major revamp to the Ethereum ($1.917k) blockchain is due this week “that is set to allow them to gain access to more than $33 billion of ether currency. Dubbed Shapella, the software upgrade will let market players redeem their “staked ether” – coins they have deposited and locked up on the network over the past three years in return for interest.” – Reuters

Today - EZ Retail Sales and Sentix Index, EIA STEO, speeches from Fed’s Goolsbee & Harker. IMF Meetings Continue. Earnings – First Republic (#FRC), which was hit hard by client withdrawals in the aftermath of Silicon Valley Bank’s collapse.



Biggest FX Mover @ (07:00 GMT) AUDUSD (+0.46%). Rallied from under 0.6620 yesterday to test 0.6680 today. MAs aligned higher, MACD histogram & signal line positive & rising, RSI 61.00 & rising, H1 ATR 0.00092, Daily ATR 0.00701.



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.