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[QUOTE="HFM, post: 327046, member: 46567"] [b]Date: 24th October 2023. Market Update – October 24.[/b] [img]https://analysis.hfm.com/wp-content/uploads/2023/02/daily-market-update.png[/img] Trading Leveraged Products is risky The sell off in Treasuries abated in the later part of Monday as low prices attracted buyers. Stock markets are also looking somewhat more stable and most Chinese stock gauges improved after the country’s sovereign wealth fund bought exchange traded funds to boost prices. Stock futures are higher across Europe and the US, although the UK100 is struggling. Early data releases in Europe were far from stellar, with German consumer confidence falling again, Eurozone Composite PMI falling to a 35 month low and jobless claims rising in the UK. Bonds have continued to find buyers and the 10-year Treasury yield has corrected a further -5.0 bp to 4.80%, while the 10-year Bund yield is down -5.3 bp at 2.82%, after the 10-year JGB corrected -2.5 bp. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/2023-10-24_11-32-41.jpg[/img] [b]*[/b]USDIndex found some ground at 105.46, GBPUSD extended to 1.2287 well above PP and 1.22 lows. [b]*[/b]RBA Governor Michele Bullock: risks inflation would prove more stubborn than expected and that interest rates might have to rise further to bring it to heel. [b]*[/b]Stocks: Chinese stock gauges improved after the country’s sovereign wealth fund bought exchange traded funds to boost prices. Stock futures are slightly higher across Europe and the US, although the UK100 is struggling. The US500 remains though below the 200-day moving average. [b]*[/b]Oil & Gold face some near term selling pressure, as the subsequent drop in rates provide some support for Equities while the USDIndex slumped. The 5% yield level on the 10-year, the first time with that handle since 2007, helped stop the bleeding in the bond market. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/Copy-of-TELEGRAM-MARKET-UPDATE-18.png[/img] [b]Interesting Mover: BTCUSD[/b] 12% higher breaching April 2022 highs and 35K. Crypto linked stocks followed as well, as speculation about the possibility of a bitcoin ETF approval drove enthusiasm. [img]https://analysis.hfm.com/wp-content/uploads/2023/10/Copy-of-TELEGRAM-MARKET-UPDATE-11.png[/img] [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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