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[QUOTE="HFM, post: 250000, member: 46567"] [B]Date : 31st May 2022. Market Update – May 31. Stock markets traded mixed. Overnight Chinese[/B] data showed a slowdown in the pace of contraction in the manufacturing sector. Beijing’s new policy support, which includes cash handouts for hiring graduates and support for internet companies’ offshore [B]listings, supported the sentiment a bit. In the rest of the world though, inflation jitters returned and yields spiked[/B], with Australia’s 10-year up 8.5 bp and the German Bund yield lifting 1.0 bp to 1.06%. [B]US Dollar[/B] stabilized as Treasury yields spiked. [B]European open:[/B] [B]Swiss economy stronger than expected at the start of the year.[/B] Official GDP numbers beat expectations and showed a quarterly growth rate of 0.5% q/q up from 0.3% q/q in Q4 last year. Services were still held back at the start of the quarter by virus restrictions, and the impact of Russia’s invasion of Ukraine won’t show in these numbers yet. SNB head Jordan warned that the fallout from the war and sanctions against Russia could mean stagflation risks globally, but still, with these numbers, the SNB’s negative interest rate environment will also be challenged. [LIST] [*] [*][B]USDIndex[/B] recovered slightly to [B]101.79[/B]. [*] [*][B]Equities[/B] – [B]Nikkei[/B] and [B]ASX[/B] meanwhile closed with losses of[B] -0.3%[/B] and [B]-1.0%[/B] respectively as inflation jitters returned and yields spiked. [B]GER40[/B] and [B]UK100[/B] up [B]0.9%[/B] and [B]0.4%.[/B] [*] [*][B]Yields[/B] – US 10-year rate has jumped 9.4 bp to [B]2.83%[/B] as markets return from yesterday’s holiday. [*] [*][B]Oil – USOil [/B]spiked to[B] $119.20 [/B]per barrel as demand expectations pick up and EU leaders agreed a partial ban on Russian oil. [*] [*][B]Bitcoin [/B]extended gains above 20-day SMA for the first time since April 7. [*] [*][B]FX markets[/B] – [B]USDJPY lifted to 127.33, EURUSD down to 1.0734, Cable below the 1.26 mark.[/B] [/LIST] [B]Today – [/B]GDP from Switzerland and Canada for Q1, German unemployment, Eurozone HICP. US housing index, Chicago index and Consumer Confidence. The Biden-Powell meeting is also on tap. [B]Biggest FX Mover[/B] @ (08:00 GMT) [B]EURUSD [/B](-0.39%) declined to 1.0730 due to USD strength. MAs aligning lower, MACD histogram zeroed, RSI 35 & falling, H1 ATR 0.00117, Daily ATR 0.00942. [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]Andria Pichidi 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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