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[QUOTE="HFM, post: 248440, member: 46567"] [B]Date : 24th May 2022. Market Update – May 24 – Bear Market Rally?[/B] [IMG]https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG] [B]USD[/B] slipped again (USDIndex down a whole big number), [B]Stocks[/B] rallied as Euro moved higher on rate hike expectations, Asian markets fell (Nikkei -0.97%) after [B]Snap’s[/B] profit warning and US Futures are lower. Shanghai & Beijing tightening Covid rules, [B]Biden [/B]no change to [B]Taiwan[/B] policy, [B]Ukraine[/B] is a global issue prodding neutral countries. [B]Zelenskiy[/B] says he would meet with [B]Putin[/B] to end the war. [LIST] [*] [*][B]USDIndex[/B] down to [B]102.00 [/B]and 6th down day of last eight. [*] [*][B]Equities[/B] – [B]USA500[/B] 72 ([B]1.86%[/B]) at [B]3973[/B], US500FUTS at [B]3914 [/B]now. [*] [*][B]Yields[/B] down, 10-yr closed at [B]2.83%, [/B]now up [B]2.87%[/B] [*] [*][B]Oil & Gold [/B]both had negative sessions – [B]USOil[/B] down to test [B]$108.75 Gold[/B] holds [B]$1850 [/B]today, down from 1864. [*] [*][B]Bitcoin[/B] rotates through [B]$30K[/B] – but under today at 29.8k. [*] [*][B]FX markets[/B] – [B]EURUSD [/B]up to test [B]1.0700, parity[/B] calls falling. [B]USDJPY [/B]under [B]128.00, at 127.55[/B], [B]Cable[/B] up to [B]1.2580. AUD[/B] under performed in Asia. [/LIST] [B]Overnight – [/B]JPY & AUD [B]PMIs miss[/B], NZD [B]retail sales miss [/B]and hotter JPY [B]Tokyo CPI[/B] all weighed. [B]Eurozone PMIs disappointed.[/B] The German composite PMI unexpectedly improved, but that wasn’t enough to lift the overall Eurozone numbers. The S&P Global Composite PMI dropped to 54.9 from 55.8, with both manufacturing and services readings coming in weaker than anticipated and flagging a renewed deceleration in the pace of expansion. The recovery continues, but at a slower pace and with the balance of risks still tilted to the downside, thanks to the threat of cut off gas deliveries from Russia. [B]Today – [/B]EZ, UK & US Flash PMIs, US ISM Semi-annual Economic Forecast, Speeches from Fed’s [B]Powell,[/B] ECB’s [B]Lagarde[/B] & Villeroy. [IMG]https://analysis.hfm.com/wp-content/uploads/2022/05/2022-05-24_12-00-47.jpg[/IMG] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]NZDJPY[/B] (-1.20%) Drifted to 81.79 from 82.80 highs. MAs aligning lower, MACD histogram turned negative however signal line remains above 0, RSI 29, OS & falling, H1 ATR 0.00208, Daily ATR 0.01413. [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 HF Market Analyst HFMarkets 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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