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  • #31
    Where can I find webinars with Andrea Pichidi? Are they available on Youtube?

    Comment


    • #32
      What's your outlook on Gold for the rest of the week? I hold long positions on Gold, just looking for some clues what can be further developments in safe heaven.

      Comment


      • #33
        Can I receive these updates in my MT4 platform? How do I set up the newsletter?

        Comment


        • #34

          Date : 3rd May 2021.

          Market Update – May 3.


          Market News TodayA month-end bid, and rotation out of equities has supported!

          Covid continues to wreak havoc in parts of Asia, and will keep investors nervous again this week, as India deals with a firestorm of new cases (the highest daily cases anywhere in the world) and rising deaths. Additionally, parts of Japan remain under a state of emergency with restrictions in areas including Tokyo, Osaka, and Kyoto. Japan will be on Golden Week holidays Monday through Wednesday, and there are no top-tier data releases for the remainder of the week. China’s April trade report is due at the end of the week. The quiet session in Asia impacted trading in Europe today, with the UK still on an extended weekend break. GER30 futures are fractionally higher at the moment, and US futures are outperforming, although the tech heavy USA100 future is struggling amid lingering concern over China’s anti-trust crackdown, that also saw the Hang Seng selling off again. Inflation developments and lingering tapering fears will also be on markets’ minds as the BoE meeting comes into view. Elsewhere, CPI data from around the globe, along with the usual mix of growth, trade, retail sales and US NFP. For central banks, the RBA, BoJ and BoE meet, though no changes are expected. German retail sales jumped 7.7% m/m in March.

          In FX markets, the Yen and US Dollar retreated and USDJPY lifted to 109.62, while the USDIndex jumped to 91.40. The US Dollar strengthened as risk trades slipped further. USOIL meanwhile dropped back to $62.90 per barrel. Ethereum has hit a fresh record high, following news of a potential digital bond sale on the ethereum blockchain.

          Today – The calendar today includes the final readings for Eurozone April manufacturing PMIs, the US ISM Manufacturing PMI and Fed Chairman Powell’s speech. Earnings season continues with reports from Estee Lauder, Enterprise Products, Alexion Pharmaceuticals, WEC Energy, Williams Companies, ON Semi, SolarEdge, Loews Corp., Diamondback Energy, Chegg, and Apollo Global Management. The Treasury will outline its Q2 and Q3 borrowing projections.


          Biggest (FX) Mover @ 07:30 GMT (+0.37%) – NZDJPY reversed Friday’s losses and extended to 78.65. The overall outlook remains positive, while in the 1-hour chart, momentum is rising higher with fast MAs aligned higher, while RSI is breaking above 50 with MACD extending northwards but remains below 0. ATR (H1) at 0.1104 & ATR (D) at 0.6449.

          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.


          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.

          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.

          Comment


          • #35
            Date : 5th May 2021.

            Market Update – May 5 – Yellen finesses comments.


            Market News TodayUSD continues its May recovery (USDIndex holds over 91.00), Equities closed lower (Nasdaq shed 1.88%). Mrs. Yellen spooked the market and then toned down her interest rate rise/inflation comments. The Fed’s Kaplan and Allianz’s Al El-Erian also talk up “non-transitory” nature of the inflation threat. Yields cooled on USD advance, fell to 1.55% before moving 1.59%. Overnight Good jobs data from NZD and Housing data from AUD lift the antipodean pair. Japan, China and South Korea still closed.

            EUR – down to test 1.2000 zone, JPY holds over 109.00 at 109.40, Cable rotates around 1.3900. AUD has support at 0.7700 and CAD still rotates through 1.2300

            USOIL
            at 38-day high peaked at $66.00, Gold – $1776 following a volatile session (highs $1798, lows $1770) Commodities remain robust. BTC back to test $55,000(PP).

            European Open – The rout in tech stocks that hit markets yesterday has eased somewhat and US futures are moving higher – DAX and FTSE 100 futures are also sought. Comments from US Treasury Secretary Yellen yesterday reminded markets that with economies strengthening as fiscal stimulus picks up it is not a question of if, but when central banks will take the foot off the accelerator. Official rates may remain low for a while to come, but when asset purchases are reigned in, the long end will suffer. Stocks meanwhile may continue to see rotations out of companies that benefited from stay home orders to cyclicals. With the DAX closing below the 15000 mark yesterday there is room to the downside.

            Today – Eurozone & US services & composite PMIs, ISM services PMI, ADP Employment, Oil Inventories, Fed’s Evans, Rosengren, Mester, ECB’s Lane, Earnings from GM, Barrick Gold, Maersk, Deutsche Post, Uber, PayPal & Hilton Hotels.

            Biggest (FX) Mover @ (07:30 GMT) NZDJPY (-0.27%) rallied from 6-day low yesterday (77.70) over 78.00. Today, PP at 78.07 and R1 at 78.50. Faster MAs remain aligned higher, RSI 53 & neutral, MACD histogram over 0 line & signal line aligned higher but under 0 line. Stochs cooling to neutral. H1 ATR 0.1065, Daily ATR 0.6200.

            Biggest (FX) Mover @ (07:30 GMT) NZDJPY (-0.27%) rallied from 6-day low yesterday (77.70) over 78.00. Today, PP at 78.07 and R1 at 78.50. Faster MAs remain aligned higher, RSI 53 & neutral, MACD histogram over 0 line & signal line aligned higher but under 0 line. Stochs cooling to neutral. H1 ATR 0.1065, Daily ATR 0.6200.

            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.


            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.

            Stuart Cowell
            Head 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.

            Comment


            • #36

              Date : 6th May 2021.

              Market Update – May 6 – GBP in focus ahead of BoE & Elections.


              Market News TodayUSD consolidates, (USDIndex holds PP at 91.25), Equities closed mixed (new ATH for USA30, USA100 down 0.37% as rotation away from tech continues). The AUD fell over 0.5% as China said it will “indefinitely suspend” all activities under the China-Australia Strategic Economic Dialogue. 10-yr Yields held at 1.59%. Commodities tear continues – Copper nudging 10- yr highs. German Factory orders much better than expected. Japan, China and South Korea back to work. Biden agrees to IP waiver for Covid vaccines.

              EUR – down to test 1.2000 zone (again), JPY holds over 109.00 at 109.30, Cable rotates around 1.3900 ahead of BOE & Elections. AUD held support at 0.7700, back to 0.7745 now and CAD moves down from 1.2300 to 1.2250 zone.

              USOIL peaked at $66.65 yesterday tested $65.00 post inventories – back to $65.70 now Gold – $1794 following a test of 200hr support at $1775). Commodities remain robust. BTC back to test $58,000 yesterday at $57,000 now. Dogecoin –

              European Open – The June 10-year Bund future is up 11 ticks, U.S. futures are little changed, while in cash markets the 10-year Bund yield is up 1.1 bp at 1.58%. DAX and FTSE 100 futures are currently up 0.01% and 0.13% respectively, U.S. futures are also posting fractional gains after a mixed session in Asia, where rising trade tensions between China and Australia weighed on local markets. Investors will be starting to look ahead to tomorrow’s U.S. jobs report, but today’s local calendar is also quite busy, with BoE and Norges Bank announcing policy, a key local election in the U.K. that could have bearing on Scotland’s relation with Westminister, and a number of data points.

              TodayBoE & (Norges & CBRT) rate decisions, UK Services PMI, US Weekly Claims ECB’s de Guindos, Schnabel, BoE’s Bailey, Fed’s Williams, Kaplan, Mester. Earnings from Moderna, Rengeneron, ViacomCBS, Peloton, AB Inbev, Continental, ArcelorMittal, ING, Volkswagen, SocGen, UniCredit. Up to 48 million people to vote in UK local elections.

              Biggest (FX) Mover @ (07:30 GMT) EURJPY (+0.18%) rallied from lows below 131.00 yesterday to test R1 at 131.35 today. Faster MAs remain aligned higher, RSI 55 & moving higher, MACD histogram testing 0 line & signal line aligned higher but under 0 line. Stochs risingto test OB zone. H1 ATR 0.0886, Daily ATR 0.6745.

              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.


              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.

              Stuart Cowell
              Head 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.

              Comment


              • #37

                Date : 7th May 2021.

                Market Update – May 7 – USD weaker ahead of NFP.


                Market News TodayUSD moves lower, (USDIndex down (0.45%) to 90.80 earlier), EUR and Sterling both bid. Equities all closed higher (new ATH for USA30, USA500 +0.82%) Financials biggest gainers. Commodities tear continues GOLD breaks $1820. 10-yr Yields slip with USD to 1.568%. Asian markets higher on strong data, from JPY (Earnings), CNY (Services PMI & the Trade Balance more than doubled) and NZD (inflation expectations).

                EUR – rallied to test 1.2070, JPY holds over 109.00 at 109.15, Cable rotates around 1.3900 again after volatile BOE reaction and ahead of Election results. AUD rallied to 0.7790, and CAD moves down from 1.2300 to 1.2140 – a new 38-month low.

                USOIL peaked at $66.65 on Wednesday and tested under $65.00 earlier. Gold – major rally to $1820 first daily close over 200-day EMA ($1796) since mid-February. Commodities remain robust. BTC back down from test $58,000 yesterday to $56,000 now.

                European Open – The June 10-year Bund future is down -11 ticks on the day, underperforming versus Treasury futures, which are little changed. In cash markets the 10-year Treasury rate has dropped -0.3 bp to 1.566% overnight, despite markets positioning for a stellar US jobs report, which owes much to reassurances from major central banks that they will be patient on tapering and rates. Stock futures are moving higher, with DAX and FTSE 100 futures currently posting gains of 0.8% and 0.6% respectively. US futures are underperforming, but are also supported with a 0.3% rise in the NASDAQ leading the way.

                Today – UK construction PMI, US and Canadian labour market reports, ECB’s Lagarde, BoE’s Haldane, Broadbent, Fed’s Barkin Earnings from Adidas, BMW, Credit Agricole, IAG, Siemens.

                Biggest (FX) Mover @ (07:30 GMT) GBPAUD (+0.34%) rallied from 7-day lows below 1.7830 yesterday to test PP at 1.7900 today. Faster MAs remain aligned higher, RSI 53 & moving higher, MACD histogram & signal line aligned higher but under 0 line. Stochs rising to test OB zone. H1 ATR 0.0016, Daily ATR 0.0117.

                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.



                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.

                Stuart Cowell
                Head 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.

                Comment


                • #38
                  Date : 10th May 2021.

                  May 10 – GBP skyrockets, USD down, Crypto and Metals in the spotlight.


                  Market News Today – The overall tone in stocks remained positive through the Asian part of the session, after Wall Street shrugged off the disappointment of the US jobs report on Friday and took solace in the fact that the data will back the Fed’s dovish tone. Many Asian indices moved higher, while bonds struggled. JPN225 gained 0.4% today, the ASX more than 1% after strong business confidence data. Hang Seng and CSI 300 underperformed and corrected -0.5% and -0.8% respectively against the background of anti-trust efforts and lingering US-China tensions. GER30 and UK100 futures are up 0.3% and 0.4% respectively, alongside gains in US futures.

                  In FX markets, the US Dollar sank to a 2-month low at 90.18. The GBP rallied to a 10-week high after local elections provided a boost to PM Johnson and seemed to fend off demands for another independence referendum in Scotland. Cable is trading at 1.4062 and EURGBP at 08640. EURUSD meanwhile dropped slightly to 1.2150. USDJPY lifted to 108.98 as the Yen weakened across the board. CAD and AUD were supported. USOIL is traded at $65.36 per barrel, after a key US pipeline was forced shut by a cyber attack (Colonial Pipeline). Copper skyrocketed to 4.869.

                  Ethereum extended this month’s record run, surging more than 5% to an unprecedented $4,148.88. The second-biggest digital token has rallied 41% so far in May. Bitcoin rallied but remains below 60K after Elon Musk called dogecoin a “hustle” during his guest-host spot on the “Saturday Night Live” comedy sketch TV show.

                  Treasury supply will be a focal point this week as the $126 bln May refunding is on tap, and includes $58 bln in 3-year notes Tuesday, $41 bln in 10-year notes Wednesday, and $27 bln in 30-year bonds Thursday. Yields plunged on Friday following the jobs miss, but rebounded into the close as the market looked ahead to the upcoming supply. The wi 3-year traded 2 bps richer at 0.315% late Friday, with the wi 10-year fractionally cheaper at 1.590% and the wi 30-year 3.5 bps cheaper at 2.280%. Rates here would be the richest in two months for the 3- and 30-year maturities, and since March for the 10-year. Many of the auctions this year have shown sputtering demand, leading some to worry that demand for Treasuries is diminishing. This week’s auctions will be an interesting test, especially given richer rates alongside uncertainties over inflation, and now the job market.

                  Today – Virus developments remain encouraging and with central banks still providing support, it seems the recovery remains on track. Today’s data calendar is pretty quiet, but includes UK house price data.

                  Biggest (FX) Mover @ (07:30 GMT) GBPJPY (+0.92%) rallied from 7-week highs at 153.30 today. Faster MAs remain aligned higher, RSI crossed 70 and still points upwards, MACD histogram & signal line aligned higher extending away from 0 line. Stochs rising to test OB zone. H1 ATR 0.218, Daily ATR 0.990.

                  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.


                  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.

                  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.

                  Comment


                  • #39

                    Date : 11th May 2021.

                    May 11 – Tech sell off & Commodities gain ahead of today’s data.


                    Trading Leveraged Products is risky

                    Market News TodayThe stock markets sold off across Asia. Inflation concerns have hit tech stocks in particular, and the rise in commodity prices has seen the 5-year break even inflation rate lifting to the highest level since 2006, according to Bloomberg calculations. China CPI climbed to a 0.9% y/y clip in April, more than double the 0.4% y/y from March. The jump in commodity prices has sparked concern over extended valuations in equities and JPN225 corrected -2.4% and -2.1% respectively. The ASX sold off -1.0% and the Hang Seng is currently down -1.8%. Mainland China bourses outperformed despite a higher than expected PPI reading that reflected surging commodity prices *********.

                    While demand for Treasuries will be supported by safe haven flows, Eurozone peripherals, which outperformed yesterday, may well feel the chill this morning. GER30 and UK100 futures are down -1.3% and -1.2% respectively and a 0.7% correction in the tech heavy USA100 is leading US futures lower.

                    In FX markets, the USDJPY is little changed at 108.95, with the US Dollar and Yen both struggling. Cable stabilised at high levels after yesterday’s surge – currently at 1.4124, as the UK BRC retail sales figures confirmed a surge in demand as the country continues to re-open. EURUSD meanwhile lifted to 1.2143. USOIL eased back to $64.33, as traders keep a wary eye on the impact of the cyber attack that led to pipeline closures.

                    Today – Today’s data calendar has German ZEW investor confidence, which is expected to move higher.


                    Biggest (FX) Mover @ (07:30 GMT) EURCHF (+0.66%) reversed more than 40% of its 3-day decline from 7-week highs at 153.30 today. Faster MAs remain aligned higher, but RSI is close to 50 and MACD histogram & signal line remain well below zero even though they are presenting decreasing negative bias. The intraday positive bias remains limited. H1 ATR 0.0006, Daily ATR 0.0038.

                    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.


                    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.

                    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.

                    Comment


                    • #40

                      Date : 12th May 2021.

                      Market Update – May 12 – Inflation day.


                      Market News Today – Fears over rising inflation weighed on both stocks and bonds, with equities bearing the brunt of the pressure. The broader indexes were the underperformers with the USA30 dropping -1.9% and the USA100 was down sharply too, off nearly -2%. Today, GER30 and UK100 futures are down -0.3% and -0.2% respectively. The rout in tech stocks in particular continued to see wider markets selling off overnight, and European bourses are likely to continue to struggle ahead of key US inflation data later today. Treasuries were heavy too, led by the long end amid the inflation threat. Yields have spiked in Australia and New Zealand, after some warnings that Australia could lose its AAA rating.

                      Inflation fears have made a comeback although the sell off in equities seems to be abating somewhat, likely also thanks to ongoing verbal support from central banks, which continue to see the current spike in inflation as transitory. There was a plethora of Fedspeak and all concurred it was not the time to discuss tapering, while suggesting the disappointing jobs report was likely due to other issues aside from unemployment benefits.

                      In FX markets, the USD strengthened and USDJPY lifted to 108.89. AUD and NZD are broadly lower. Cable eased at high levels currently at 1.4130, EURUSD sustains support at 1.2115 for a 3rd day. USOIL stabilised at the $65 area.

                      Today – Today’s US inflation reading aside, the local calendar confirmed German HICP inflation at 2.1% largely thanks to base effects from energy prices. UK GDP for Q1 came in a tad better than feared, with the quarterly rate showing a contraction of -1.5% q/q, largely due to lockdown measures.


                      Biggest (FX) Mover @ (07:30 GMT) EURAUD (+0.37%) broke 20- and 50-day SMA, spiking to 1.5562 high so far. Faster MAs stabilised and are flattened currently, as RSI after the 70 high is pulling back despite the bullish bias in the MACD histogram. Hence the intraday indicators suggest the end of the rally for the time being. H1 ATR 0.00185, Daily ATR 0.00911.

                      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.


                      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.

                      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.

                      Comment


                      • #41

                        Date : 13th May 2021.

                        Market Update – May 13 – Inflation jump keeps trading nervous.


                        Market News Today –Despite warnings from policymakers, the jump in prices will keep trading nervous. Central bank officials remain adamant that the inflation overshoot that will likely be mirrored in the UK and if not the Eurozone then Germany, is mainly due to base effects and should be transitory, but stocks at least are not so convinced. The surge in April CPI weighed heavily on Treasuries and the jump in yields knocked Wall Street sharply lower. The spike in CPI stole the show this week, though the Fed and indeed global monetary authorities have warned about rising inflationary pressures, the 0.8% jump in the headline and 0.9% surge in the core elicited heavy selling.

                        Wall Street is on its heels with the USA100 falling -2.67% and the USA500 and USA30 tumbling -2.14% and -1.99%, respectively. The Treasury’s 10-year auction was very well bid, though at the highest yield in over a year. Bond markets across Asia sold off in catch up trade.

                        BoJ’s Kuroda joined the chorus of central bank officials playing down the spike in inflation as mainly due to base effects, but that didn’t prevent a further sell off in Asian stock markets. Asian equity markets remained under pressure after the sell off on Wall Street yesterday and European stock futures are also lower, with GER30 and UK100 down -0.6% and -0.8% respectively in catch up trade, after still closing higher on Wednesday.

                        In FX markets, the USDJPY is little changed at 109.68. AUD and NZD underperformed. EURUSD and Cable are little changed at currently 1.2074 and 1.4055 respectively. USOIL is at the $65.37 area. Bitcoin slumped and then recovered somewhat, after Elon Musk tweeted that Tesla Inc has suspended vehicle purchases using the digital currency due to environmental concerns.

                        Today – Scandi and Swiss markets are closed and many countries are either celebrating Ascension Day or end end of Ramadan, which will likely make for quiet trading conditions. On tap we have US Jobless Claims and speeches from BoC Macklem and BoE Bailey.

                        Biggest (FX) Mover @ (07:30 GMT) EURAUD (+0.29%) spiked higher above R1 breaking the upper BB line and retesting the nearly 3-months Resistance, at 1.5700. Intraday the MAs aligned higher while RSI is at 71 but flattened and MACD is also positively configured suggesting a positive to neutral outlook. ATR (H1) at 0.00231 & ATR (D) at 0.00993.

                        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.


                        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.

                        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.

                        Comment


                        • #42

                          Date : 17th May 2021.

                          Market Update – May 17 – USD lifts, Gold rallies, BTC Sinks.


                          Market News TodayUSD remains weak (USDIndex down to 90.27). Equities all closed higher (US100 biggest gainer up 2.32%), 457 of USA500 have reported earnings and 87% have beat expectations. Futs. softer today. Commodities tear continues, GOLD breaks $1850. 10-yr Yields slip with USD to 1.62% from 1.70% last week. BTC bombed 12% before recovering, Musk suggested Tesla selling some or all of $1.5b investment (later denied). Asian markets mixed on mixed Chinese data, (Retail Sales missed significantly, Ind. Output in line, Unemployment improved.)

                          This week – Economic data slim, Earnings from Walmart, Home Depot, Target, Lowes and Cisco.

                          EUR – down a tad to 1.2135, JPY holds over 109.00 down to 109.20, Cable holds over 1.4100 AUD holds 0.7760 and CAD holds 1.2100

                          USOIL back over $65.00 from lows at $63.00 on Thursday, Gold – rallied to 3 mth high $1855 Commodities remain robust. BTC down to test under $42,000, back to $44,000 now.

                          European Open – Futures are also mixed, with US indices in the red, while DAX and FTSE 100 futures are both up 0.1%. The UK is taking another step towards a full re-opening of the economy today, but amid warnings of caution against the background of new virus variants. In the Eurozone, restrictions vary considerably across countries, with some already at the level of openness that the UK is now going back to. In FX markets both EUR and GBP eased against a largely stronger Dollar earlier, only to improve as the session opened. Data releases today remain thin on the ground, with only the final reading for Italian HICP numbers of note.

                          Today – US NY Fed Manufacturing, BoE’s Haldane, Vlieghe, Tenreyro, Fed’s Bostic, Clarida, Kaplan Earnings from RyanAir & Advanced Auto Parts.

                          Biggest (FX) Mover @ (07:30 GMT) GBPNZD (+0.50%) rallied from 5-day lows below 1.9420 on close to test 1.9550 today. Faster MAs remain aligned higher, RSI 61 & moving higher, MACD histogram & signal line aligned higher and testing 0 line. Stochs rising and OB zone from earlier. H1 ATR 0.0024, Daily ATR 0.0155.

                          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.


                          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.

                          Stuart Cowell
                          Head 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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                          • #43
                            What's your view on ability of Bitcoin and crypto to extend correction?

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                            • #44

                              Date : 19th May 2021.

                              Market Update – May 19 – USD & Equities weak, BTC Slumps.


                              Market News TodayUSD remains weak and cannot catch a bid at the moment. USDIndex down to 89.67. Equities closed down -0.85%, with significant fall in final hour; USA500 4127, despite robust earnings from Walmart & Home Depot. Housing data disappointed. VIX spiked 7.6% to 22.75. Asian markets follow lower. GOLD tested key $1875 level, USOil under $65.00. 10-yr Yields holds at 1.64% despite USD weakness. BTC tumbles under $40,000 on Chinese regulation. Overnight – NZD PPI better than expected, AUD Industrial Production misses. UK CPIinline at 1.5% (although RPI & PPI stronger).

                              This week – Economic data slim, FOMC Minutes, Earnings from Walmart (Beat), Vodafone (in-line), Home Depot (beat), still to come today – Target, Lowes and Cisco.

                              EUR – up and holds over 1.2200 at 3-mth highs 1.2240, JPY struggles and slips under 109.00, Cable rallied to 1.4220 highs yesterday, back under 1.4200 now. AUD back under 0.7800, CAD up from 6-year lows at 1.2012 to 1.2065, and NZD (yesterdays best performer) at 0.7230 from 0.7270)

                              USOIL edges back to $65.00, Gold – rallied to 3.5 mth high to test key resistance at $1875, trades at $1873. Commodities remain robust. BTC sank under $40,000, (& Ether lost 13% to $2,900) after “China banned its financial institutions from offering cryptocurrency registration, trading, clearing, and settlement in a blow to investors who were betting that digital assets will gain mainstream status.” Reuters. VIX again the largest mover UP 7.60% over 22.60 at 4-day highs.

                              European Open – The June 10-year Bund future is fractionally lower, while in cash markets the 10-year Treasury yield is currently up 0.3 bp at 1.64%. DAX and FTSE 100 futures are down -0.98% and -0.99% respectively, underperforming versus U.S. futures, which are also in the red, however, after a largely weaker session across Asia overnight. Inflation concerns remain in focus and markets will be watch out for the FOMC minutes today, although the last meeting was conducted ahead of the latest data release.

                              Today – EZ final CPI, Canadian CPI, FOMC Minutes, ECB’s Panetta, Rehn, Lane, Fed’s Bullard, Bostic. Earnings from Lowe’s, Target, Cisco, L Brands, & Analog Devices.

                              Biggest Mover @ (07:30 GMT) VIX.F (+7.60%) rallied from under 19.00, yesterday to 22.75 now. Faster MAs remain aligned higher, RSI 67 & moving higher, MACD histogram & signal line aligned higher having broke 0 line into close yesterday. Stochs rising and in OB zone from earlier. H1 ATR 0.57, Daily ATR 2.45.

                              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.


                              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.

                              Stuart Cowell
                              Head 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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                              • #45

                                Date : 20th May 2021.

                                Market Update May 20 – USD gets reprieve, BTC Bounces.


                                Market News TodayUSD gets a reprieve from surprise FOMC minutes. Minutes showed “taper talk” was discussed much more than any participant held implied since the meeting. USDIndex back over 90.00. Equities closed down -0.29%, USA500 4115, despite robust earnings from Lowes & Target, CISCO disappointed, after hours. Asian markets follow lower. Overnight – AUD unemployment mixed, JPY machine Orders better, trade flat.

                                This week – Economic data slim, FOMC Minutes, Earnings from Walmart (Beat), Vodafone (in-line), Home Depot (beat), Target (beat), Lowes (beat) Cisco (miss). Still to come today – Applied Materials & Ralph Lauren.

                                EUR – down from 3-mth highs at 1.2240 under 1.2200 to 1.2185, JPY still struggles at 109.00, Cable back under 1.4200 and 14100 now. AUD back to 0.7750, CAD up from 6-year lows to 1.2100.

                                USOIL
                                edges back up after yesterdays sell-off from under $62.50 to $63.50, Gold – rallied to 3.5 mth high to test key resistance at $1875, again trades at $1874. Commodities cooled but remain robust. BTC sank under $30,000, (& lost -54% from peak last month) – back to $40k now. All from Musk & “China banned its financial institutions from offering cryptocurrency registration, trading, clearing, and settlement in a blow to investors who were betting that digital assets will gain mainstream status.” Reuters.

                                European Open – The June 10-year Bund future is down -15 ticks, underperforming versus U.S. futures, which have moved slightly higher, while in cash markets the 10-year Treasury rate is down -0.2 bp at 1.67%. The reading is up from overnight lows though, as stock market sentiment started to stabilise during the Asian part of the session and DAX and FTSE 100 futures are posting gains of 0.6% and 0.9% respectively. U.S. futures have moved sideways after a weaker close on Wall Street and against the background of the Fed minutes, which suggested that some policy markets have at least started to think about tapering “some point”. For now though the official line at central banks is that the uptick in inflation is transitory and ECB’s Schnabel, who predicted a German CPI rate of over 3% later in the year, said that inflation is likely to recede again in 2022.

                                TodayUS Initial Job Claims, Philadelphia Fed Business Index, SARB rate decision, ECB’s Lane, Lagarde, BoE’s Cunliffe, Fed’s Kaplan, Earnings from Applied Materials & Ralph Lauren

                                Biggest FX Mover @ (07:30 GMT) AUDCHF (+0.34%) rallied from under 0.6961, yesterday to over 0.7005 now. Faster MAs remain aligned higher, RSI 60 & moving higher, MACD histogram & signal line aligned higher having broke 0 line earlier. Stochs rising and in OB zone from earlier. H1 ATR 0.0011, Daily ATR 0.0051.

                                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.


                                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.

                                Stuart Cowell
                                Head 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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