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[QUOTE="HFM, post: 205718, member: 46567"] [B]Date : 17th January 2022. Market Update – January 17 – USD Holds onto gains. Big bank Earnings disappointed[/B] on Friday, the [B]USD[/B] recovered from 8-week lows and [B]Fedspeakers[/B] continued to worry about [B]inflation[/B] as hawkish tones increased. [B]Stocks[/B] recovered early losses, [B]Yield[/B]s moved up to close the week as [B]Oil[/B] moved up and [B]Gold [/B]moved down[B]. [/B]China’s [B]PBOC[/B] delivered the first [B]rate cut[/B] in a while as signs of slow down persist and Covid cases once again spread. [LIST] [*]USD ([B]USDIndex[/B] [B]95.20[/B]) holds on to gains from Friday. Bouncing from 8-week lows under [B]94.60[/B]. [*][B]US Yields[/B] 10-yr moved higher again to close at [B]1.772%.[/B] [*][B]Equities[/B] – [B]USA500[/B] +3.82 (+0.08%) at [B]4662 [/B]as Financials weighed following Earnings from JPM (-6.15%) Blackrock (-2.19%) and WFC (+3.68) Tech & Energies lead recovery into long weekend. [B]USA500[/B] FUTS lower at [B]4652[/B]. [*][B]USOil[/B] – Spiked over [B]$84.00[/B] as markets look beyond Covid spikes with very tight supply. [*][B]Gold[/B] – settled at [B]$1816 [/B]from a test of 1830 again. Now at [B]$1822[/B]. [*][B]Bitcoin[/B] support once again at [B]$42,000, [/B]Friday, back to 42,800 now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to [B]1.1465[/B], [B]USDJPY [/B]now [B]114.40[/B] at 115.85,[B] Cable[/B] back to [B]1.33680.[/B] [/LIST] [B]Overnight – Chinese[/B] [B]GDP[/B] and [B]industrial production[/B] exceeded expectations, whilst [B]retail[/B] sales disappointed. [B]UK house price[/B] data from the Nationwide was strong. The Chairman of [B]Credit Suisse[/B] has resigned due to Covid breaches. [B]Week Ahead[/B] A [B]Bank of Japan[/B] meeting which concludes on Tuesday, [B]UK[/B] [B]inflation[/B] data on Wednesday and [B]Australian jobs[/B] figures on Thursday. Earnings from GS, BAC, MS, P&G, Netflix [B]European Open[/B] – The March 10-year Bund future is down -36 ticks, alongside broad losses in US futures, which points to a further rise in yields across Europe. Stock market futures are trading mixed, with [B]DAX and FTSE 100[/B] futures posting gains of [B]0.4% and 0.2%[/B] respectively, while an 0.4% decline in the NASDAQ is leading US futures lower. Central bank outlooks and inflation expectations remain in focus, the Fed is gearing up for a round of central bank hikes this year that will also impact the outlook for BoE and ECB amid hopes that the pandemic phase of Covid-19 will start to fade. [B]Today [/B]– Little data from Europe & [B]All[/B] [B]US[/B] markets closed for MLK Day. [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]CADJPY (+0.34%) [/B]Rallied from [B]90.50 [/B]lows on Friday to [B]91.37 [/B](Fridays high) now. MAs aligned higher, MACD signal line & histogram higher & above 0 line. RSI 64 & rising, H1 ATR 0.121 Daily ATR 0.794. [B]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.[/B] 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. [B]Stuart Cowell Head Market Analyst HotForex Disclaimer:[/B] 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. [/QUOTE]
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