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[QUOTE="HFM, post: 251043, member: 46567"] [B]Date : 6th June 2022. Market Update – June 6 – USD & Stocks steady inflation worries still loom. USD[/B] remained steady ([B]USDIndex[/B] 102.10) [B]Stocks[/B] recover a tad from Friday’s post NFP sell off ([B]NASDAQ[/B] -2.47%) and [B]Yields also hold onto gains (2.957%). [/B]Asian markets mixed in thin trading today (AUD & NZD closed along with many EZ countries). Central bank outlooks, China’s virus lockdowns and inflation data remain in focus – NFP showed a tight jobs market and Earnings holding up, so FED may need to act again in September, Saudi Arabia has increased oil prices & US will allow two companies to import Venezuelan oil into Europe. [B]Musk[/B] predicted a gloomy US economy (following [B]Dimon’s[/B] comments) and suggested TESLA needed to shrink its workforce by 10% (only to then withdraw the comment), US to pause, for 24mths, tariffs on Solar Panel imports, [B]Kurod[/B]a “Japan will not tighten monetary policy”. [LIST] [*][B]USDIndex[/B] rallied to 102.25, back to 102.00 now. [*][B]Equities[/B] – [B]USA500[/B] -68 (–[B]1.63%[/B]) at [B]4108[/B], US500FUTS at [B]4131 [/B]now. Worries about a more aggressive FEd during the Autumn weighed on stocks. [*][B]Yields[/B] 10-year yield higher ([B]2.957%[/B] at close), trades at [B]2.950%[/B] now. [*][B]Oil & Gold [/B]had mixed sessions – [B]USOil[/B] rallied to $120.86 following Saudi news before slipping under $120, [B]Gold[/B] sank from over $1874 on Friday to $1852 now. [*][B]Bitcoin [/B]rallied from under [B]$30K[/B] on Friday to trade at $31.2K now. [*][B]FX markets[/B] – [B]EURUSD [/B]under 1.0725 again, [B]USDJPY [/B]tested[B] 131.00 [/B]brand holds [B]130.50, Cable[/B] trades over [B]1.2500, [/B]a no confidence vote in PM Johnson will take place later today by his own elected MPs. [/LIST] [B]Overnight – CNY [/B]Caixin Services PMI missed significantly 41.4 vs. 46.1. [B]Today – [/B]a light calendar with Holiday Closures in many parts of Europe and no econ. news scheduled for NA session. All eyes on [B]RBA, ECB[/B] & US [B]CPI[/B] data later this week. [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]GBPAUD[/B] (-0.44%). Rallies from sub 1.7300 on Friday to 1.7400 today following Johnson news. MAs aligning higher, MACD histogram positive & breaks 0 line, RSI 65 & rising, H1 ATR 0.0024, Daily ATR 0.0050. [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 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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