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  #1121  
Old 07-06-2021, 13:22
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Default Re: Hotforex.com - Market Analysis and News.

Date : 7th June 2021.

Market Update – June 7 – Dollar subdued following jobs and G7.



Market News Today – The markets characterized the May US jobs report as Goldilocks –neither too hot, nor too cold. Indeed it was just right for bond and stock bulls. Treasuries rallied with a burst of short covering as the smaller than expected headline job increase pushed a Fed tapering further out the calendar. The steep drop in yields was very favorable to Wall Street, and especially the USA100. Today stock markets traded narrowly mixed amid disappointing trade data out of China and with investors keeping a close eye on comments from Treasury Secretary Yellen, who urged President Biden to press ahead with spending plans ($4 trillion/year), even if they may fuel inflation, while saying that a “slightly higher” interest rate environment would be a “plus”. China trade data showed weaker than expected export growth, but a jump in imports to the highest since 2010.

G7 – agreed to a global minimum tax of at least 15% on multinational companies but faces a rocky path to implementation. (The Biden administration could win support for its US tax increases). The deal give countries more authority to tax the profits of digital companies like Apple Inc. and Facebook Inc. that dominate global markets but pay relatively little tax in many countries where they operate.

European Open – The Sep 10-year Bund future is little changed, as are US futures, while in cash markets the US 10-year rate has lifted 2.0 bp to 1.57%. EGBs are also likely to move up from the lows seen in the wake of the US payroll number on Friday. With fiscal support being stepped up and the recovery strengthening, the pressure on central banks to take the foot off the accelerator is getting stronger and flexible QE schedules may become more of a thing especially for the ECB, which will be meeting on Thursday. The ECB is expected to move away from its commitment to “significantly” higher monthly PEPP purchases. GER30 and UK100 futures are currently down -0.2% and up 0.04% respectively, while US futures are fractionally lower.

Covid will remain on the regional radar again this week, as cases in several countries continue to rise, causing economic restrictions and factory closures. Thailand and Vietnam have been hit by fresh outbreaks, while Malaysia last week put a total lockdown in place. The restrictions will ultimately impact incoming data in the region.

Today – Today’s slate includes Japan’s Q1 GDP, current account, PPI and the MoF business outlook survey. Supply is a focal point in the week ahead with the $120 bln in coupon auctions. Today‘s rally in Treasuries reflects little fear. Ironically, the richening may work to diminish demand. Markets will also digest the G7 agreement on tax payments of big firms today.



Biggest FX Mover @ (07:30 GMT) EURGBP (+0.49%) has moved up from its 2-month floor at 0.8560. Faster MAs remains aligned higher, RSI 68 and spiking higher, MACD signal line and histogram rising but signal remain at 0. Stochs turning lower from OB zone. H1 ATR 0.0005, Daily ATR 0.0041.

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.

Click HERE to access the full HotForex 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: 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.
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  #1122  
Old 09-06-2021, 15:26
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Default Re: Hotforex.com - Market Analysis and News.

Date : 9th June 2021.

Market Update – June 9 – Markets holding patterns.



Market News Today – Global bonds were in rally mode Tuesday, with early support from a flight to safety after several government, social media, and news websites went down. Though later determined to be a problem with a US cloud computing firm, the recent hacks of major companies had left investors anxious. The widespread internet outages spooked investors following a series of hacks in recent weeks that brought down the Colonial Pipeline and JBS.

Treasuries benefited from a flight to safety, and then a short covering bid just after the open, sending longer dated yields sharply lower, while Eurozone spreads narrowed. Today however the 10-year Treasury yield is down -0.8 bp at 1.53% and bonds in Australia and New Zealand outperformed in catch up trade. CPI readings out of China came in lower than anticipated at 1.3% y/y, but PPI inflation was the highest since 2008 at 9.0%. GER30 and UK100 futures are currently up 0.1% and down -0.1% respectively. US futures are little changed.

Oil prices meanwhile continued to move higher as confidence in the recovery strengthens. US officials said they have recovered $2.3m worth of the ransom payment made to hackers who shut down the Colonial Pipeline last month and disrupted the country’s fuel supplies for several days.

Officials are apparently considering imposing a cap on the price of thermal coal to contain high energy costs.

World Bank projects global growth at a 5.6% clip this year, a big upward boost from the 4.1% clip that had been estimated in January. That would be the fastest pace of expansion since the 6.6% clip from 1973 and results from the global distribution of vaccines and massive stimulus measures. The global economy contracted -3.5% last year.

Today – The event risk for tomorrow’s ECB meeting is that Lagarde will sound less dovish than markets seem to be expecting, as strengthening growth and usually quieter trading conditions over the summer will argue for increased flexibility on PEPP purchases going forward. With the ECB meeting and US inflation data looming tomorrow, stock markets are likely to be pretty static today, with indices still hovering at very high levels.



Biggest FX Mover @ (07:30 GMT) – Sugar prices provided clear positive trades yesterday to move away from the 17.70 level, which supports the continuation of the 11-day rally, motivated by positively configured MACD and RSI. Key resistance is the 18.20 high on May 12.

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.

Click HERE to access the full HotForex 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: 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.
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  #1123  
Old 10-06-2021, 15:24
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Default Re: Hotforex.com - Market Analysis and News.

Date : 10th June 2021.

Market Update – June 10 – It was all about Treasuries and still is!


Trading Leveraged Products is risky

Market News Today – It was all about Treasuries again as yields continue to drop, and despite the rates tumbling to the lowest since March 3, ahead of the CPI data there was stellar demand for the 10-year auction.

10-year Treasury yields have dropped back a further -1.0 bp below 1.50% for the first time since March. Bearish positioning in Treasuries seems to be more extreme than initially thought. Bond markets across the Asia-Pacific region also found buyers, leaving the 10-year JGB rate down -0.1 bp at 0.060% and Australia’s 10-year rate down -8.9 bp at 1.48%.The September 10-year Bund future is up 7 ticks, while in cash markets the 10-year Treasury yield has dropped -1.2 bp to 1.48%.


Short covering and technicals remained big factors behind the move as bond bears threw in the towel on bearish inflation and Fed tapering bets.

Stock markets have been more cautions but benefited from the drop in yields, and indexes are mostly higher, while today the stocks are still in green with GER30 and UK100 futures up 0.1% and 0.3% at the moment and US futures also posting fractional gains, with indexes already at very high levels. JPN225 has gained 0.3%, the ASX is up 0.5% and Hang Seng and CSI 300 are 0.4% and 0.9% higher on the day.

Today – The ECB meeting takes center stage. The ECB is expected to keep the overall policy framework unchanged on Thursday, but review monthly purchase volumes under the PEPP program, which were “significantly” enhanced through Q2 as Europe fought with another surge of infections and a slow vaccine rollout. The US calendar will be of interest today, with the key May CPI report due.



Biggest FX Mover – GBPJPY drops to the 154 level, after it opened the day below the 20-day MA. It has posted a reversal from 156 highs since the end of May. Next key Support is at 153.45, which is a confluence of May’s floor and lower BB pattern.

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.

Click HERE to access the full HotForex 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: 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.
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  #1124  
Old 11-06-2021, 17:23
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Default Re: Hotforex.com - Market Analysis and News.

Date : 11th June 2021.

Market Update – June 11 – Market relaxed on inflation fears.


Trading Leveraged Products is risky

Market News Today – Gilt yields closed higher after stronger than expected US inflation numbers, while Eurozone bonds, in particular BTPs, got a boost from the ECB announcement, which affirmed the commitment to keep monthly PEPP purchases “significantly” higher than at the start of the year. The ECB is essentially in wait and see mode and seems to be focusing very much on the outlook for the travel and tourism sector against the background of new virus variants. Central banks successfully convinced markets that the spike in inflation is transitory and after the spike in US inflation yesterday, the Eurozone May inflation round will likely look tame by comparison.

In Asia, Australia and New Zealand bonds found buyers, but in South Korea bonds extended losses after comments from the central bank’s chief economist on normalizing policy. For now the factors driving the jump look transitory, but there are some lingering concerns that it could become entrenched and there was talk that central bankers willdiscuss tapering at the Jackson Hole meeting over the summer.

In Europe, the bunch of data releases out of the UK at the start of the session was largely bond friendly, despite monthly GDP being a tad weaker than expected at 2.3% and industrial and manufacturing production unexpectedly dropping -0.3% and -1.3% respectively. The visible trade deficit meanwhile remains sizeable at around GBP 11 bln.

In FX markets the Yen struggled and USDJPY lifted to 109.42, while the EUR strengthened and EURUSD is at 1.2192, while Cable is little changed at 1.4182. Stock markets mostly managed slight gains as markets continued to digest the uptick in US inflation. JPN225 is up 0.04%, GER30 and UK100 futures are still up 0.1% and 0.2% respectively and US futures are also higher, led by a 0.11% rise in the USA100. USOIL is at $70.14 per barrel.



Biggest FX Mover – USA100 just a breath below 14k. Currently the rally has stalled, with fast MAs flattened along with RSI at 63 while Stochastic is sloping lower pointing to 20 barrier. ATR (H1) at 17.70 and ATR (D) at 142.70.

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.

Click HERE to access the full HotForex 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 HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer: 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.
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