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[QUOTE="HFM, post: 261910, member: 46567"] [B]Date : 1st August 2022. Market Update – August 1. 1st day of the month – Fears over slowing growth and expectations for moderation in Fed rate hikes overshadowed still hot inflation prints. USDIndex [/B]sinks again to [B]105.50,[/B] while against the[B] Yen [/B]it extended to 6-week lows, i.e. [B]131.96[/B]. US data out Friday showed stubbornly high inflation and wages growth. Corporate earnings have mostly beaten lowered forecasts. The China PMI reports missed miserably and flagged risks to the overall outlook as the country’s zero-Covid policy continues to bite. Hong Kong’s benchmark underperformed and lost -0.2%. [B]US Stocks [/B]are steady. [B]Nikkei[/B] and [B]ASX[/B] gained [B]0.6[/B]% and [B]0.7[/B]%, [B]GER40[/B] and [B]UK100[/B] futures are narrowly mixed in opening trade. [B]Overnight: China’s property[/B] developers in focus and Alibaba still weighed down after the US included the company in the delisting [B]watchlist. Evergrande[/B] failed to deliver a restructuring plan; [B]Alibaba[/B] added to SEC List of Chinese Firms Facing Delisting, along with another 200 companies. [B]German[/B] Retail Sales plunged -1.6% m/m in June – flags ongoing [B]cost pressures[/B] that coupled with the [B]threat[/B] of [B]energy rationing[/B] means [B]recession risks[/B] are palpable now. [B]HSBC[/B] posted a higher profitability target and bullish dividends outlook. [LIST] [*][B]USDIndex[/B] weakens & [B]YEN[/B] outperforms. [*][B]Equities[/B] – [B]USA500[/B] closed higher +48.8 pts (+1.21%) ([B]4072)[/B], US500FUTS at [B]4105 [/B]now. [I]Fed’s Kashkari affirmed the bank’s commitment to bring inflation down, which acted as a reminder that the Fed will continue to hike rates, even if the path of the tightening cycle may not be quite as aggressive as markets had feared at one point.[/I] [*][B]Yields[/B] 10-year Treasury rate lifted 1.6 bp to 2.665 (after sliding to the lowest since early April at 2.618% at the end of last week). [*][B]Oil – [/B]drifted back to [B]97.60[/B], as OPEC+ meeting on Thursday and is expected to produce an increase in supply, even if only minor. [*][B]Gold – [/B]steady at 2-week highs at [B]$1764.[/B] [*][B]Bitcoin [/B]at [B]23,170[/B]. [*][B]FX Markets[/B] – [B]Yen[/B] remains the main beneficiary of the correction in[B] haven flows[/B] into the USD and [B]USDJPY[/B] slipped to [B]131.96[/B]. The [B]USDCHF[/B] also caught a bid, i.e. [B]0.9500[/B] and [B]Sterling[/B] rose against both [B]USD[/B] and [B]EUR[/B] – with [B]GBPUSD[/B] now at [B]1.2196[/B], while [B]EURUSD[/B] is lingering at [B]1.0240.[/B] [/LIST] [B]Today – UK, Australian central banks expected to hike this week, while it is NFP week as well. Biggest FX Mover[/B] @ (06:30 GMT) [B]USDJPY [/B]([B]-0.79%[/B]). Broke 132.00 low. 1Hour-MAs flattened, but MACD histogram negative & falling, RSI sideways 34.50. H1 ATR 0.305, Daily ATR 1.354. [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 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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