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[QUOTE="HFM, post: 326330, member: 46567"] [b]Date: 10th October 2023. Market Update – October 10.[/b] [img]https://analysis.hfm.com/wp-content/uploads/2023/10/2023-10-10_09-47-45.jpg[/img] Stock markets have stabilised and mostly moved higher overnight, after a largely stronger close on Wall Street. Markets continue to assess the impact of the Israel-Hamas war, but the JPN225 rallied 2.4% on its return from the extended holiday weekend. General uncertainties and fears of an escalation of the conflict weighed on sentiment but strength in defensive shares helped support. European futures are higher, with indexes set to pare yesterday’s losses. US futures are narrowly mixed. Treasuries rallied in catch up trade and the US 10-year rate has corrected -14.6 bp to 4.66%. Treasuries jumped and shares advanced after comments by Federal Reserve officials fueled speculation the US central bank may stand pat until year-end. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/2023-10-10_09-46-23.jpg[/img] Oil prices as well as Gold benefited from a spike in risk aversion prompted by the escalating conflict in the Middle East. Gas prices also spiked as investors weigh the risk of widening geopolitical tensions. [b]*[/b]USDIndex has lifted to 105.95, after correcting on dovish leaning Fed comments yesterday. The USDJPY recovered to 148.92 from 148.16 lows. [b]*[/b]China: The largest private real estate developer, Country Garden, said it might not be able to meet all of its offshore payment obligations when due or within the relevant grace periods. Meanwhile, Kaisa Group said creditors would get less than 5% of their money back if it is forced into liquidation [b]*[/b]Stocks: JPN225 rallied 2.4%, while Hang Seng and ASX also moved higher. [b]*[/b]Oil: USOil have come down and it is currently trading at $84.17 per barrel. [b]*[/b]Gold ended at $1861, the highest since late September, from a low of $1844.25. [b]Today: [/b]BOE releases minutes of financial policy meeting & ECB President Christine Lagarde participates in session at IMF/World Bank meeting. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/Copy-of-TELEGRAM-MARKET-UPDATE-4.png[/img] [b]Interesting Mover: AUDUSD[/b] has breached the 61.8% fib. resistance line, indicating a potential move to 0.6471 if there is a confirmation of a breakout. Currently it`s in a correction mode. [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] Click [url=https://www.hfm.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] to access the full HFM Economic calendar. 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. Click [url=https://www.hfm.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hfm.com/][b]Click HERE to READ more Market news.[/b][/url] [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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