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[QUOTE="HFM, post: 257239, member: 46567"] [B]Date : 7th July 2022. Market Update – July 7 – Fed focused on Inflation, USD bid, Stocks flat, Gold tumbles. USD[/B] moved down from new to 20-year highs at [B]107.00 [/B]but remains in demand ([B]USDIndex[/B] 106.64), US [B]Stocks[/B] flat on close ([B]NASDAQ[/B] +0.35%). FED Minutes leaned to the [B]hawkish[/B] side. – [I]‘more restrictive’ policy as likely if inflation fails to come down. [/I]Asian markets are mostly positive ([B]Hang Seng[/B] -0.13%, [B]Nikkei[/B] +1.4%). [B]Yields[/B] closed up +3.3%. [B]Oil[/B] fell another -1.0%, [B]Gold[/B] plummeted again to $1735 & [B]BTC[/B] rotates at $20k. UK PM Johnson has now lost over 50 members of his government but refuses to resign. [B]AUD[/B] outperforms overnight. Yesterday US ISM [B]Service PMIs[/B] were better than expected but still at 25-mth low & [B]JOLTS[/B] showed 11.25m job vacancies (1.9 jobs for every unemployed person). [LIST] [*][B]USDIndex[/B] tested 107.00 and remains on Bid at 106.65 now. [*][B]Equities[/B] – [B]USA500[/B] closed +0.36% 13.69pts ([B]3845)[/B], US500FUTS at [B]3854 [/B]now. [*][B]Yields[/B] 10-year yield higher, closed at [B]2.92%[/B], trades at 2.90% now. Yield curve inverted again yesterday. [*][B]Oil & Gold [/B]had weak sessions – [B]USOil[/B] traded down to $95.10 lows and remains under $100.00 at $98.48. [B]Gold[/B] fell to 1732, next support at 1725, trades at 1745 now. [*][B]Bitcoin [/B]continues to trade around [B]$20K,[/B] testing $20.3K today. [*][B]FX Markets[/B] – [B]EURUSD [/B]remains pressured at 1.0200, [B]USDJPY [/B]rallied from under 135.00 to test 136.00 now. Cable trades at 1.1950 now. [/LIST] Overnight[B] – German Industrial Output missed [/B]at [B]0.2%[/B] from 1.3%. [B]Australian Trade Balance[/B] much better at [B]15.97b[/B] vs 10.7b & 13.25b prior. [B]Today – [/B]US [B]ADP[/B] Employment & International Trade, ECB Minutes, EIA Oil Inventories, Speeches from Fed’s Waller & Bullard, ECB’s Lane & Enria, BoE’s Pill. [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDJPY [/B]([B]+0.42%[/B]). AUD lifted by trade data. Rallied form allied from 91.50 Wednesday to 92.70 today before cooling. MAs aligning higher, MACD histogram positive & rising, RSI 55.24 & rising, H1 ATR 0.227, Daily ATR 1.398. [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 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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