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[QUOTE="HFM, post: 232830, member: 46567"] [B]Date : 29th March 2022. Market Update – March 29 – Yields in focus, Oil down again, TESLA rallies. USD [/B]holds gains ([B]USDJPY[/B] broke [B]125.00[/B]) and [B]Treasury[/B] market fell again with US Treasury 5-to-30-yr yield curve remaining [B]inverted[/B] suggesting economic slowdown & possible recession. US 10-yr slips back under [B]2.5%.[/B] [B]Oil[/B] markets slumped ([B]-1.0%[/B]) again on worries from Shanghai lockdown. [B]US stocks[/B] rallied (NASDAQ [B]+1.71%[/B]) growth stocks ([B]TESLA[/B] [B]+8%[/B]) gained as Banks & Energy stocks ([B]Exxon[/B] [B]-2.81%[/B]) fell. Asian markets higher (Nikkei & ASX [B]+0.8%[/B]) except Chinese stocks. BoE’s [B]Bailey[/B] warned of a worse energy crisis than in the 70s, & highlighted that the BoE had already softened its rate guidance, even as it hiked rates again and flagged the chance of further tightening[B]. Russian & Ukrainian[/B] negotiators meet in Istanbul later today. Limited expectations. [B]Israel/Arab[/B] summit talked of united front to confront Iran. [B]Biden[/B] proposed $5.79 trillion budget for next year increasing spending on Defence & raising taxes on wealthy. [B]UK Met. Police[/B] to issue “Partygate” fines “imminently”. [B]Overnight [/B]– [B]AUD[/B] Retail Sales better than expected (1.8% vs 0.9% & 1.8%)) & [B]JPY[/B] Unemployment better (2.7% vs 2.8% & 2.8%) [B]German [/B]GfK Consumer confidence missed -15.5 vs -14.6 & -8.1 last time). [LIST] [*]USD ([B]USDIndex[/B] [B]99.00[/B]). Rallied to top at 99.35 yesterday. [*][B]US Yields[/B] 10-yr up to [B]2.53%[/B] new 3-yr highs yesterday, now down to 2.483% [*][B]Equities[/B] – USA500 +32.01 (+0.71%) [B]4575. [/B]US500 FUTS now at [B]4572 [/B]now. [B]TSLA[/B] suggested another stock split and rallied over 8.0%, [B]AMC[/B] up over +45% as the meme stocks raised their heads again. [*][B]USOil[/B] – Fell again (over 1.1%) to [B]$102.80[/B] yesterday, but has recovered $105.00. [*][B]Gold[/B] – slipped to [B]$1916[/B] yesterday from Friday’s close $1955. Back to $1922 now. [*][B]Bitcoin[/B] holds onto gains over 45K to top at 48.1K, yesterday, back to[B] 47.5k [/B]now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to test [B]1.1000, [/B]now after [B]1.0950[/B] test yesterday, [B]USDJPY [/B]over [B]125.00 [/B]& new 7-yr highs back to [B]123.40[/B] now as JP Government signals worries over weak Yen. [B]Cable[/B] back to [B]1.3066 [/B]yesterday, recovered [B]1.3100[/B] now. [/LIST] [B]European Open [/B]– The June 10-year Bund future is down 33 ticks, while in cash markets the 2-year Treasury yield is up 2.8 bp. [B]Curve flattening continues[/B] as markets fret about the risk that aggressive central bank action will sap demand. [B]DAX and FTSE 100[/B] futures are up [B]0.9% and 0.6%[/B] respectively, US futures are also slightly higher, after a largely positive session across Asia, with hopes of progress in scheduled peace talks between Russia and Ukraine this week helping to underpin confidence. [B]Today [/B]– US [B]JOLTS, [/B]CB[B] Consumer Confidence [/B]& Case-Schiller Housing Index. Speeches from Fed’s Williams, Bostic & Harker, ECB’s Kazimir. EARNINGS – Micron & Lululemon. [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]USDJPY (-0.34%) BOJ & Japanese Government [/B]raise concerns over weak Yen, following break of [B]125.00[/B]. MAs turned lower, MACD signal line & histogram now cooling, RSI 49.55, OB but rising, H1 ATR 0.403, Daily ATR 1.123. [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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