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HFM · 22-04-2021 18:03:09

Date : 22nd April 2021.

USOil – Increase in stockpiles and infections lowers oil prices.

USOil, H1 – US crude oil prices fell for a second consecutive day to below 61.00, as the USDIndex posted a two-day low at 91.00, extending the decline from yesterday’s high at 91.43 and returning focus to Tuesday’s seven-week low at 90.86. Weekly US Stockpiles came out much higher than expected and was the first increase in as many weeks at 600,000 barrels. In addition, the number of people infected with COVID-19 is skyrocketing globally, raising concerns that lockdown measures may be reintroduced. In Asia, Japan is preparing to announce lockdowns in Tokyo and Osaka, while India is now recording near 300,000 daily infections as the number of people infected every 13 days in Latin America also increases.

In technical view, Daily timeframe, the price has made a new high lower and begins to see a downward Channel that has the potential to become a Bullish Flag in the future. While prices can now break below the 50-DMA line, MACD is lower, and RSI is mid-range, so it’s possible that the prices will remain unchanged.

As for today’s oil price outlook, H1 sees a Falling Wedge pattern where prices move in a narrower and lower frame, indicating the possibility that prices may lift again. This time, however, the 50-period MA is moving closer to the 200-period SMA, where, if it crosses, it could confirm a short-term downward trend in oil prices. Today’s support is at the psychological level of 60.00 and resistance is at the MA line at the 61.80 zone.

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.

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Chayut Vachirathanakit
Market Analysts – HF Educational office – Thailand

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.

HFM · 23-04-2021 18:10:04

Date : 23rd April 2021.

Market Update – April 23 – Equities and Bitcoin Lower; USD Flat.

Market News Today – US Equities down again (-0.92%), USD (91.20) & Yields (1.55%) flat, BTC tanks under $50k on Biden proposal to raise capital gains tax to 40%. ECB nothing new, Largarde talked up strong 2H recovery, June meeting likely to see some changes. Claims at 13-month low. Overnight AUD up on good PMIs, JPY CPI lower PMIs ease higher too, Big jump for credit card spending in NZ and UK Retail Sales much better 5.4% vs 1.5%. AT&T & Intel beat expectations. Earth Summit – Biden cuts US emissions target by 50% for 2030, Japan, Canada and UK also cut targets.

European Open – Asian stock markets traded mixed, after Wall Street was hit by proposals for a higher capital gains tax for the wealthy in the U.S. as a way to pay for the government’s social plan. U.S. futures are already moving higher again, but Asian markets struggled after the weaker close in the U.S.. Topix and Nikkei lost -0.6% and -0.8%, as inflation came in a tad higher than anticipated, although at -0.1% y/y the headline rate remains stuck in negative territory. The ASX lost -0.1%, while Hang Seng and CSI 300 are currently up 0.7% and 0.5% respectively. The U.S. 10-year rate has lifted 2.0 bpo to 1.56% and bonds were also under pressure across Asia. In FX markets the dollar struggled, while CAD and AUD were supported. EUR-JPY dropped back to 107.89. Oil prices meanwhile pared a weekly loss, as the focus shifts back to recovering demand at the end of a week that was dominated by concerns over the resurgence of virus cases and rising stockpiles.

Today – Highlights include Eurozone, UK & US flash PMIs, ECB’s Lagarde. Earnings from Daimler, Honeywell and American Express

Biggest (FX) Mover @ (07:30 GMT) AUDCHF (+0.34%) rallied from 0.7060 low yesterday and open today. Moved over 20- and 50-hour MAs, next resistance 200-hour at 0.7096. Faster MAs remain aligned higher from open, RSI 53 cooling , MACD histogram & signal line aligned higher but remain under 0 line. Stochs rising. H1 ATR 0.0011, Daily ATR 0.0058.

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!

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Stuart Cowell
Head Market Analyst
HotForex

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.

HFM · 26-04-2021 16:45:24

Date : 26th April 2021.

The BoJ meets!.

Japan’s BoJ begins its two-day meeting tonight, and will announce policy on Tuesday. No changes are expected, though the Bank is expected to lower its inflation forecasts, largely due to lower cellphone charges, which will keep expectations for ongoing stimulus in place. The markets are closed Thursday for Showa Day.

Growth optimism seems to be heralding a return of reflation trades, as sharply higher services PPI numbers out of Japan just months away from hosting the Olympics added to signs that companies will pass on higher costs as soon as consumer demand bounces back. The Tokyo motor show was cancelled. In data, Japan March inflation numbers, released last Friday, showed core CPI lifting to a y/y rate of -0.1% from -0.4%. In the meantime investors are wary given lofty valuations and with considerable corporate earnings improvement in the year ahead having already been priced in, but rising input costs and the prospect of higher corporate tax rates in the US are clouding the outlook on this front. The tsunami wave of new Covid cases in India is also a concern. Oil prices have turned nearly 2% low today, with commentaries citing an expected decline in demand from India.

That said, Yen found ground on the US Dollar slump and USDJPY printed a low at 107.65, but remained above Friday’s near eight-week low at 107.47. The pair has been tracking the narrowing in the US 10-year yield advantage relative to the 10-year JGB yield, which has been in play for three weeks now. The solid demand that was seen at the 20-year US bond auction last week suggests that, for now, longer-dated yields are likely to remain without upside impetus, though we are still anticipating strong data over the coming months that will likely re-inspire bond markets to price in contingency risk that the Fed may be forced into withdrawing monetary stimulus sooner than it is currently signalling.

According to Reuters, many Japanese life insurers, major investors in global bonds, plan to increase their holdings of Yen bonds as their yields have recovered from lows while some of them are more cautious about foreign bonds.

As for USDJPY, the prevailing bias looks likely to remain to the downside for now, though the bigger picture remains bullish, anticipating a renewed phase of rising US yields in the months ahead.

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
HotForex

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.

HFM · 27-04-2021 17:31:14

Date : 27th April 2021.

Market Update – April 27 – Caution ahead of FED.

Market News Today – The short term virus outlook remains difficult in places such as India, which is keeping a lid on growth expectations near term, although looking ahead, confidence that the global recovery will rebound later in the year remains intact.

Central banks meanwhile seem successful in keeping a lid on reflation trades for now, although the risk is that with monetary policy failing to take the foot off the accelerator, they will add to bubbles and over-valuations that could be difficult to correct smoothly. The BoJ already announced steady policy settings and lifted the growth forecast slightly overnight, while in Europe, the Swedish Riksbank is expected to do the same and the Fed, which begins its 2-day meeting today, is also likely to do the same. Meanwhile, China’s anti-trust crackdown has also come into focus again.

10-year Treasury yields are up 0.9 bp at 1.58%, still firmly below recent highs. JGB rates lifted 0.9 bp to 0.069%. Stock markets across the region traded cautiously. JPN225 lost -0.3%. The ASX dropped nearly 1%, while Hang Seng and CSI 300 are currently up. GER30 and UK100 futures are fractionally lower, while US futures are posting gains of around 0.2%. In FX markets the Yen was under pressure and USDJPY lifted to 108.40. The AUD and NZD fell as caution reined in markets ahead of the Fed. The EUR fell to 1.2064, while GBP is unchanged. USOIL is trading at $62.46 per barrel. JPMorgan Chase JPM.N is planning to offer a managed bitcoin fund. BTC holds at 53.5K

Today – The FOMC kicks off its 2-day meeting today, while data releases in Europe are thin on the ground, but include the UK CBI retailing survey. The heavy earnings slate will be the focus today, featuring Microsoft, Alphabet, Visa, Novartis, Eli Lilly, Texas Instruments, UPS, Amgen, Starbucks, Raytheon, HSBC, 3M, AMD, BP, Mondelez, Chubb, Sherwin-Williams, Corning, ADM, Yum China, Synchrony Financial, PulteGroup, Hasbro, Invesco, and Hubbell.

Biggest (FX) Mover @ 07:30 GMT + 13.6%) – Ripple reverses 6-day drift, Cryptos were supported by Musk and Tesla – the firm said it did sell some of the crypto (in its Q1 earnings call) but only as ‘proof of concept’ the coin could be used in place of cash and also on reports that JPMorgan Chase JPM.N is planning to offer a managed Bitcoin fund.

In the 1-hour chart, momentum is rising higher with fast MAs aligned higher, while RSI is at 71 with MACD extending northwards again. ATR (H1) at 0.06176 & ATR (D) at 0.3011.

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
HotForex

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.

HFM · 28-04-2021 17:44:47

Date : 28th April 2021.

Market Update – April 28 – Low risk appetite.

Market News Today – The FOMC and earnings remain the focal points. India continues to threaten, and there are some fears over developing inflationary pressures. No changes or surprises are expected from the Fed. Meanwhile, strong earnings have largely been priced in, so bulls are unwilling to chase stocks higher currently, especially with rates on the rise again. Wall Street was mixed but mostly higher, while the USA100 was modestly lower, though all are at or near all-time highs. Treasury yields advanced a further 2 bp to 1.64%. However, weaker than expected inflation data out of Australia helped to put a floor under local bonds and Australia’s 10-year rate dropped back -0.7 bp to 1.72%. Global Stock markets mostly managed to move higher. The JPN225 lifted 0.5%, and the ASX 0.4%, helped by expectations that the low inflation environment will keep the RBA sidelined for a long time to come.

In FX markets both EUR and GBP eased against a largely stronger Dollar, with EURUSD at 1.2074 and Cable at 1.3884. USDJPY lifted to 108.88, while the AUD was under pressure. USOIL meanwhile is trading at $63.18 per barrel. Gold prices fell to a 1-week low at $1,766, weighed down by firmer US Treasury yields with investors awaiting policy cues from the Federal Reserve’s statement, while Palladium retreats from the all-time high hit on Tuesday.

FOMC preview: This week’s FOMC is universally expected to maintain a steady policy stance. Policymakers will release their decision at 14:00 ET, and Chair Powell will follow up at 14:30 ET with his press conference. Remember too that this meeting does not include new economic projections. Officials have assured to a Spokesperson that the ZIRP posture will be maintained for “some time” into the future, and the dots suggest that this will be at least 2 years. The brightening economic outlook and the improvement in the job situation has not been enough to move the needle on policy, and Chair Powell has said there is a long way to go until the labor market returns to its pre-pandemic levels. The Fed should reiterate that the “path of the economy will depend significantly on the course of the virus, including progress on vaccinations.” It has also stressed it will maintain its accommodative stance until “substantial further progress” has been made on its dual goals, while emphasizing the stance is outcome based and that it will not act pre-emptively based on forecasts. The Fed won’t provide any clarity on what is “some time” or “substantial further progress.” There has been market speculation that the strength in the economy and the trillions of fiscal stimulus on board will see the Fed sound less hawkish, but that time is not now, especially with the surge in virus infections abroad. Officials will also be concerned over the negative effects of a taper tantrum.

Today – The FOMC kicks off its 2-day meeting today, while data releases in the US session include the US Advance Goods, the OPEC Meeting and Canadian Retail Sales. The heavy earnings slate will be the focus today, featuring Apple, Facebook, QUALCOMM, Shopify, Boeing, Sony etc.

Biggest (FX) Mover @ 07:30 GMT (+0.27%) – CADCHF turned above 20-DMA after more than 3 weeks at 0.7387. The overall outlook remains choppy. In the 1-hour chart, momentum is rising higher with fast MAs aligned higher, while RSI is at 63 with MACD extending northwards but keeps close to 0. ATR (H1) at 0.00062 & ATR (D) at 0.00540.

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
HotForex

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.

HFM · 29-04-2021 17:46:30

Date : 29th April 2021.

Market Update – April 29 – What a night!!!

Market News Today – Japan was closed for a holiday today but elsewhere stock markets got a boost from the FOMC’s commitment to ongoing stimulus and Biden’s USD 1.8 trillion social support plan, with stimulus expected to underpin the recovery in world growth.

Action was seen in the front end of the Treasury market. The 2-year yield dropped 1.6 bps to 0.164% from a test of 0.18% after the FOMC assured tapering and lift off was still not even in the conversation. There had been some suspicion, and pricing, for a possible bearish hint, which was not forthcoming.
Wall Street was mixed and choppy on the day before closing with slight losses, with the US indexes just off record highs initially and a mix of earnings.
Apple, Facebook earned massive profits amid increased scrutiny.
Apple reported record fiscal second-quarter revenue of $89.6 billion on surging sales of premium iPhones and pandemic-induced buying of its other products. Apple authorized an additional $90 billion in stock buybacks.
NatWest returned to profit in the first quarter of 2021 ($1.32 billion pre-tax).
In Australia, much higher than expected import and export prices will keep lingering inflation concerns alive. Import price inflation finally turned positive and export prices jumped more than 11%.
The Fed acknowledged rising inflation though and German preliminary inflation data for April is likely to be a focus today and could weigh on bonds later in the session.
Amazon is raising wages for its hourly employees after a majority of workers at one of the e-commerce giant’s warehouses voted not to unionize.
Facebook temporarily blocked posts containing hashtags calling on Indian Prime Minister Narendra Modi to resign, then reinstated them on Wednesday, saying the action had been taken in error.
In FX markets, the USD continued to weaken as a doggedly dovish outlook from the FED and spending plans from the White House gave a green light for the global reflation trade, although the Yen also struggled and USDJPY held pretty steady at 108.61. The front end WTI future meanwhile is trading at USD 64.11 per barrel. The EUR and GBP gained against a largely weaker USD, with EURUSD at 1.2135 and Cable just under the 1.40 mark. The AUD was under pressure. USOIL is above $64 as bullish forecasts for a demand recovery this summer offset concerns of rising COVID-19 cases in India, Japan and Brazil. Palladium & Copper retreat from the all-time highs hit on Tuesday.

Today – The markets will quickly turn their attention back to earnings and data after the uneventful FOMC. Today’s data releases include German jobless numbers as well as Eurozone ESI confidence data, while the earnings calendar features reports from Amazon, Mastercard, Merck, Thermo Fisher, McDonald’s, Shell, Bristol-Myers Squibb, Caterpillar, American Tower, S&P Global, Altria, Southern Company, Twitter etc.

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
HotForex

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.

HFM · 30-04-2021 18:22:30

Date : 30th April 2021.

Market Update – Month End – USD weak, Stocks & Commodities Bid.

Market Market News Today – S&P500 closed at ATH again. USD slipped again (EUR at 2-mth high and up 3%+ for April, USDCAD at 3 year lows). AMZN Earnings big beat – +44% increase in sales ($108.5bn); record profits (tripled) AWS +32%, Ad sales a massive +77%; Shares +2.4% after-hours. TWTR beats, rev +28% ($1.04Bn). Yields rallied to 1.69% 2-week high (now 1.641%). Yesterday – US GDP (6.4%), Claims (553K) and Pending Home sales (1.9%) all missed expectations. Overnight Japanese data better than expected, Chinese data mixed (both close until Wednesday).

JPY under 109.00 at 108.75 (PP), Cable at 1.3945 (PP) and AUD rejected 0.7800 yesterday trades at 0.7775 (PP)

USOIL at 6- week high peaked at $65.00, Gold – $1770 following volatile session (highs 1790, lows 1756) BTC under 53,000 on close – back to 54,300 (PP) now.

European Open – Risk aversion picked up again overnight as investors were spooked by China’s anti-trust crackdown, although the DAX future is up 0.2%, after an unexpected expansion in French GDP at the start of the session and yesterday’s underperformance. The FTSE 100 future is down -0.2% and U.S. futures are also in the red, with the tech-heavy NASDAQ underperforming and down -0.4%.

Today – German GDP (Flash), EZ CPI (Flash) & GDP (Prelim), US PCE & Chicago PMI, Fed’s Kaplan. Earnings from Exxon, Chevron, Phillips 66, AbbVie, Colgate-Palmolive, AstraZeneca, Barclays, BBVA, BNP, Eni.

Biggest (FX) Mover @ (07:30 GMT) EURAUD (-0.20%) rejected 1.5600 again yesterday moved under 50- and 20-hr MA and Daily PP. Next support 200-hr MA & S1 at 1.5550. Faster MAs remain aligned lower, RSI 47 & cooling , MACD histogram & signal line aligned lower but remain above 0 line. Stochs rising. H1 ATR 0.0014, Daily ATR 0.0056.

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
HotForex

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.

HFM · 03-05-2021 18:36:09

Date : 3rd May 2021.

Market Update – May 3.

Trading Leveraged Products is risky

Market News Today – A month-end bid, and rotation out of equities has supported!

Covid continues to wreak havoc in parts of Asia, and will keep investors nervous again this week, as India deals with a firestorm of new cases (the highest daily cases anywhere in the world) and rising deaths. Additionally, parts of Japan remain under a state of emergency with restrictions in areas including Tokyo, Osaka, and Kyoto. Japan will be on Golden Week holidays Monday through Wednesday, and there are no top-tier data releases for the remainder of the week. China’s April trade report is due at the end of the week. The quiet session in Asia impacted trading in Europe today, with the UK still on an extended weekend break. GER30 futures are fractionally higher at the moment, and US futures are outperforming, although the tech heavy USA100 future is struggling amid lingering concern over China’s anti-trust crackdown, that also saw the Hang Seng selling off again. Inflation developments and lingering tapering fears will also be on markets’ minds as the BoE meeting comes into view. Elsewhere, CPI data from around the globe, along with the usual mix of growth, trade, retail sales and US NFP. For central banks, the RBA, BoJ and BoE meet, though no changes are expected. German retail sales jumped 7.7% m/m in March.

In FX markets, the Yen and US Dollar retreated and USDJPY lifted to 109.62, while the USDIndex jumped to 91.40. The US Dollar strengthened as risk trades slipped further. USOIL meanwhile dropped back to $62.90 per barrel. Ethereum has hit a fresh record high, following news of a potential digital bond sale on the ethereum blockchain.

Today – The calendar today includes the final readings for Eurozone April manufacturing PMIs, the US ISM Manufacturing PMI and Fed Chairman Powell’s speech. Earnings season continues with reports from Estee Lauder, Enterprise Products, Alexion Pharmaceuticals, WEC Energy, Williams Companies, ON Semi, SolarEdge, Loews Corp., Diamondback Energy, Chegg, and Apollo Global Management. The Treasury will outline its Q2 and Q3 borrowing projections.

Biggest (FX) Mover @ 07:30 GMT (+0.37%) – NZDJPY reversed Friday’s losses and extended to 78.65. The overall outlook remains positive, while in the 1-hour chart, momentum is rising higher with fast MAs aligned higher, while RSI is breaking above 50 with MACD extending northwards but remains below 0. ATR (H1) at 0.1104 & ATR (D) at 0.6449.

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
HotForex

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.

HFM · 04-05-2021 17:37:27

Date : 4th May 2021.

Market update – Shares edging higher.

Market News Today – Treasuries kicked off May with modest gains, correcting from the losses to end April. Caution ruled as Covid problems remain worries, especially with the spike in India. Wall Street was led by the USA30‘s 0.7% rally, with the USA500 up 0.27%, though the USA100 slipped -0.48% lower, as tech stocks were under pressure. Comments from Fed Chair Powell suggesting that the economic recovery remains patchy helped to boost Treasuries yesterday, but bonds traded mixed overnight. Australia markets outperformed, but yields have come back from lows after the RBA left policy settings unchanged for now but upgraded its economic outlook. GER30 and UK100 futures meanwhile are down -0.1% and up 0.3% respectively, the latter in catch up mode as UK markets return from the extended bank holiday weekend. Trading conditions remained quiet, with China and Japan still on holiday.

In FX markets, the US Dollar strengthened across the board and USDJPY lifted to 109.33. Both EUR and GBP dropped against a largely stronger USD and also speculations on BoE. Analysts reckon the bank might announce a slowdown in its bond buying programme as vaccinations have bolstered Britain’s economy. Ethereum is at 160% above the 200-day MA, breaking $3,500. USOIL meanwhile spiked to $64.35 per barrel, as more US states eased lockdowns and the European Union sought to attract travellers. The weaker-than-expected US data stoked concerns over recovery and limited losses for the safe-haven metal. Gold is down at $1,785, after hitting its highest since Feb. 25 at 1797.

Today – Data releases in Europe today focus on the final UK manufacturing PMI for April as well as consumer credit growth ahead of the BoE announcement on Thursday.

Biggest (FX) Mover @ 07:30 GMT – USDRUB turned 0.44% lower, breaking the 20-period SMA. The MAs aligned lower while RSI is at 43 and pointing lower and MACD is below signal line, suggesting decreasing positive bias. ATR (H1) at 0.24544 & ATR (D) at 0.90351.

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
HotForex

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.

HFM · 05-05-2021 17:25:11

Date : 5th May 2021.

Market Update – May 5 – Yellen finesses comments.

Market News Today – USD continues its May recovery (USDIndex holds over 91.00), Equities closed lower (Nasdaq shed 1.88%). Mrs. Yellen spooked the market and then toned down her interest rate rise/inflation comments. The Fed’s Kaplan and Allianz’s Al El-Erian also talk up “non-transitory” nature of the inflation threat. Yields cooled on USD advance, fell to 1.55% before moving 1.59%. Overnight Good jobs data from NZD and Housing data from AUD lift the antipodean pair. Japan, China and South Korea still closed.

EUR – down to test 1.2000 zone, JPY holds over 109.00 at 109.40, Cable rotates around 1.3900. AUD has support at 0.7700 and CAD still rotates through 1.2300

USOIL at 38-day high peaked at $66.00, Gold – $1776 following a volatile session (highs $1798, lows $1770) Commodities remain robust. BTC back to test $55,000(PP).

European Open – The rout in tech stocks that hit markets yesterday has eased somewhat and US futures are moving higher – DAX and FTSE 100 futures are also sought. Comments from US Treasury Secretary Yellen yesterday reminded markets that with economies strengthening as fiscal stimulus picks up it is not a question of if, but when central banks will take the foot off the accelerator. Official rates may remain low for a while to come, but when asset purchases are reigned in, the long end will suffer. Stocks meanwhile may continue to see rotations out of companies that benefited from stay home orders to cyclicals. With the DAX closing below the 15000 mark yesterday there is room to the downside.

Today – Eurozone & US services & composite PMIs, ISM services PMI, ADP Employment, Oil Inventories, Fed’s Evans, Rosengren, Mester, ECB’s Lane, Earnings from GM, Barrick Gold, Maersk, Deutsche Post, Uber, PayPal & Hilton Hotels.

Biggest (FX) Mover @ (07:30 GMT) NZDJPY (-0.27%) rallied from 6-day low yesterday (77.70) over 78.00. Today, PP at 78.07 and R1 at 78.50. Faster MAs remain aligned higher, RSI 53 & neutral, MACD histogram over 0 line & signal line aligned higher but under 0 line. Stochs cooling to neutral. H1 ATR 0.1065, Daily ATR 0.6200.

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

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Stuart Cowell
Head Market Analyst
HotForex

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