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[QUOTE="HFM, post: 326658, member: 46567"] [b]Date: 17th October 2023. Market Update – October 17 – Could Conflict be Contained?[/b] [img]https://analysis.hfm.com/wp-content/uploads/2022/05/currencies_1200x628.png[/img] Trading Leveraged Products is risky The focus remained on the Middle East and the Israel-Hamas war. Attempts to contain the hostilities and prevent the conflict from escalating throughout the region provided some support for risk appetite to start the week. The VIX slipped to 17.45 after surging to 19.45 to end last week. Fed’s Harker says Fed should not be considering more rate increases. Expectations for more good earnings results also boosted Wall Street, as did some softening in the US Dollar, even as Treasury yields climbed. New Zealand inflation slowed more than economists expected in Q3, adding to signs that the RBNZ has come to the end of its tightening cycle. The annual inflation rate fell to 5.6%, a 2-year low, from 6% in the second quarter, Statistics New Zealand said Tuesday in Wellington. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/2023-10-17_08-44-04.jpg[/img] [b]*[/b]Reduced demand for haven assets – Oil & Treasuries fall as efforts to ease conflict intensify with Biden’s visit in Israel. President Joe Biden will travel to Israel tomorrow, in a visit designed to signal US solidarity with its closest Middle East ally and help prevent the conflict from engulfing the region. [b]*[/b]Final Hours for Country Garden as it is on the brink of a possible offshore default. This could highlight the depth of the confidence crisis gripping the sector. [b]*[/b]USDIndex dipped to 105.95 and GBPUSD failed to cross 1.2200. [b]*[/b]Morgan Stanley’s Michael Wilson: A rally in the USA500 in the fourth quarter of 2023 “is more likely than not”. [b]*[/b]Stocks: Boosted by Fed Harker dovish comments, the AI euphoria and expectations that the FED will not raise interest rates further and speculation of a good earnings season. [b]*[/b]USOIL reversed to $85 and Gold dropped back to $1912 on the back of heightened risk aversion against the background of escalating tensions in the Middle East. [b]*[/b]vBTCUSD settled at 28200. A brief 10% surge in Bitcoin yesterday gave traders a glimpse into the possible impact of a looming the US SEC decision on whether to allow exchange-traded funds investing directly in the token. [b]*[/b]Today: Earnings reports from Goldman Sachs & Bank of America. US Retail Sales and Canadian CPI. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/Copy-of-TELEGRAM-MARKET-UPDATE-10.png[/img] [b]Interesting Mover: GBPAUD (-0.56%) broke 1.9150,[/b] which coincides with breakout of ascending triangle and May-June Resistance. This could be a possible Head and Shoulder formation. [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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