Re: HFMarkets (hfm.com): Market analysis services.
Publié : 06 déc. 2022, 10:20
Date : 6th December 2022.
Market Update – December 6 – USD Rallies, Stocks off Highs, RBA Add 25 bp in Hawkish hike.
Trading Leveraged Products is risky
*The USD Index has climbed to 105.39 but off its 200-DMA following the stronger than data, including the ISM services and Factory orders reports that also showed still elevated price levels. The less hawkish Fed views & uncertainty over rate path adds a ceiling on USD. Treasury yields extended higher, Stocks under pressure as data add to the impacts from Friday’s jobs report to reinforce the FOMC’s view that it will have to maintain a more restrictive policy stance for some time.
*The curve inversion deepened to -80 bps, not seen since 1981.The belly of the curve continues to lead the weakness in Treasuries with the 3-year yield up 15 bps to 4.129%. The 10-year is 11.7 bps higher at 3.603%.
*AUD – ranging at 0.6720-0.6735 following 25 bps hike from RBA and a prediction of further hikes ahead.
*EUR – pullback to 1.0484 from 1.0590 yesterday. German manufacturing orders stronger than expected but failed to boost EUR.
J*PY – jumped to 137.30.
*GBP – dip to 1.2160 from 1.2345.
*Stocks – US100 closed with a -1.93% decline, with the US500 off -1.79% and the US30 -1.40% in the red. The declines saw the US500 drop back below 4,000, with the US30 under 34,000.
*USOil – The January WTI crude slipped -3.8% to $76.93 on concerns Fed tightening will weaken demand. There was little impact as the EU price cap went into effect.
*Gold – reverts to $1770 from $1809 highs, as the USD backed up from early lows amid US data releases. Bullion failed to close above $1800.
Today – US Goods & Services Trade Balance and Canadian Ivey PMI.
Biggest FX Mover @ (07:30 GMT) AUDJPY (+0.69%) turned above 200-DMA. MAs flattened indicating the end of the uptrend, MACD signal line is at 0, RSI 62.00 & falling, H1 ATR 0.178, Daily ATR 0.998.
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 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 HERE to register for FREE!
Click HERE to READ more Market news.
Andria Pichidi
Market Analyst
HFMarkets
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.
Market Update – December 6 – USD Rallies, Stocks off Highs, RBA Add 25 bp in Hawkish hike.
Trading Leveraged Products is risky
*The USD Index has climbed to 105.39 but off its 200-DMA following the stronger than data, including the ISM services and Factory orders reports that also showed still elevated price levels. The less hawkish Fed views & uncertainty over rate path adds a ceiling on USD. Treasury yields extended higher, Stocks under pressure as data add to the impacts from Friday’s jobs report to reinforce the FOMC’s view that it will have to maintain a more restrictive policy stance for some time.
*The curve inversion deepened to -80 bps, not seen since 1981.The belly of the curve continues to lead the weakness in Treasuries with the 3-year yield up 15 bps to 4.129%. The 10-year is 11.7 bps higher at 3.603%.
*AUD – ranging at 0.6720-0.6735 following 25 bps hike from RBA and a prediction of further hikes ahead.
*EUR – pullback to 1.0484 from 1.0590 yesterday. German manufacturing orders stronger than expected but failed to boost EUR.
J*PY – jumped to 137.30.
*GBP – dip to 1.2160 from 1.2345.
*Stocks – US100 closed with a -1.93% decline, with the US500 off -1.79% and the US30 -1.40% in the red. The declines saw the US500 drop back below 4,000, with the US30 under 34,000.
*USOil – The January WTI crude slipped -3.8% to $76.93 on concerns Fed tightening will weaken demand. There was little impact as the EU price cap went into effect.
*Gold – reverts to $1770 from $1809 highs, as the USD backed up from early lows amid US data releases. Bullion failed to close above $1800.
Today – US Goods & Services Trade Balance and Canadian Ivey PMI.
Biggest FX Mover @ (07:30 GMT) AUDJPY (+0.69%) turned above 200-DMA. MAs flattened indicating the end of the uptrend, MACD signal line is at 0, RSI 62.00 & falling, H1 ATR 0.178, Daily ATR 0.998.
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 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 HERE to register for FREE!
Click HERE to READ more Market news.
Andria Pichidi
Market Analyst
HFMarkets
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.