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[QUOTE="HFM, post: 234113, member: 46567"] [B]Date : 1st April 2022. Market Update – April 1 – USD & Treasuries Recover, Stocks Weaker again.Yield curve[/B] extended it’s [B]inversion.USOil[/B] slipped ([B]–4%[/B]) & under [B]$100[/B] as President Biden confirmed releasing 180 mln barrels from US Strategic Reserve over the next 6-months & [B]OPEC[/B] confirm no production increases.[B]USD & Treasuries [/B]recovered as[B] Yields & Stocks (NASDAQ -1.54%)[/B] fell. US markets had their worst Quarter in 2 years.Russia threatens Europe (again) “pay in Roubles or we’ll cut off the Gas”. Core PCE: in-line at [B]0.4%, [/B]Weekly Claims missed at [B]202K[/B] vs 195k but still below normal levels, and Chicago PMI’s surprised significantly to the upside ([B]62.9[/B] vs 56.3) Asian markets traded cautiously following another weak US session, mixed data releases and an extension of the Shanghai lockdown. [B]Overnight [/B]– Chinese Caixin Manu. PMI’s sink in contraction for first time since 2020 – Manu. 48.1 vs. 50.4. [B]AUD[/B] AIG Manu Index ticked higher & [B]JPY[/B] Manu PMI (54.1 vs. 53.2) & Tankan Services PMI (9 vs. 5) both beat. [LIST] [*]USD ([B]USDIndex[/B] [B]98.50[/B]). rallied from test of 97.70 yesterday. [*][B]US Yields[/B] 10-yr closed at [B]2.32%[/B] , now back to [B]2.361%.[/B] [*][B]Equities[/B] – [B]USA500[/B] -72.15 ([B]1.57%[/B]) at [B]4530. [/B]US500 FUTS [B]4547. [/B]Banks & Technology stocks led the broadbased month end decline. [*][B]USOil[/B] – Trades at [B]$98.65 [/B]following Biden announcement. (Opened the week on Monday at 112.50. [*][B]Gold[/B] – rallied to [B]$1950[/B] yesterday, before falling back to [B]$1937[/B] now. [*][B]Bitcoin[/B] slips under the key 45K to trade at [B]44.7k [/B]now. [*][B]FX markets[/B] – [B]EURUSD [/B]back to[B] 1.1055[/B] now from 1.1170 yesterday. [B]USDJPY [/B]holds at [B]122.40 [/B]now from 121.30 lows again yesterday as BOJ continue to defend JGB yield ceiling. [B]Cable[/B] back to [B]1.3120 [/B]now. [/LIST] [B]European Open [/B]– The German 10-year rate is up 3.2 bp at 0.575%, alongside a 4.1 bp rise in the U.S. Treasury yield. However, while U.S. Treasury futures are moving higher, led by a 0.5% rise in the NASDAQ, [B]DAX and FTSE 100[/B] futures are down -0.1% and -0.05% respectively. The uncertainty over what will happen to Russian gas exports to Europe is hanging over markets, amid fears that shortages will force producers to halt or throttle production. Germany’s [B]Scholz[/B] tried to calm nerves over [B]Putin’s[/B] announcement that payments will have to be made in Rubles, although whether Moscow’s proposal that payments in EUR will have to be paid into Gazprombank and then transferred into Rubles is a way forward remains to be seen. The war meanwhile drags on and while another round of video-talks between Ukraine and Russia are reportedly scheduled for today there is no sign of a breakthrough just yet. EZ inflation is going through the roof and today’s preliminary Eurozone HICP report is likely to look very ugly. ECB chief economist [B]Lane[/B] has already laid the ground for an overshoot though, by turning dovish again and saying that the ECB must be ready to move in either direction in this situation. [B]Today [/B]– EZ, UK & US Final Manufacturing PMIs, [B]US Labour Market Report[/B], ISM Manufacturing PMI, China-EU Summit, Ukraine-Russia negotiators to meet again, Speech from Fed’s Evans. [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]USDJPY (+0.57%) [/B]Continues to rally off [B]121.30 [/B]lows this week. Next resistance 123.00. MAs aligned higher, MACD signal line & histogram higher & over 0 line, RSI 61 & rising, H1 ATR 0.211, Daily ATR 1.310. [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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