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General Trading

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    • Date: 13th May 2024. Market News – Stock markets traded mixed; Flat USD ahead of US CPI.   Economic Indicators & Central Banks:   Japanese government bond yields surged to multi years highs after the BOJ’s unexpected move to decrease the quantity of bonds it typically purchases during routine operations, signaling a more hawkish stance to the markets. BOJ Kato stated that it’s natural that monetary policy will revert to positive interest rates, while BOJ Governor Ueda signalled the potential for multiple rate hikes ahead. Chinese authorities have kicked off plans to sell $140bn of long-dated bonds on Friday, in order to support investment in key areas and reinforce economic momentum in the second quarter amid the country’s lengthy property crisis. US government plans to raise tariffs to a raft of Chinese exports were weighing on sentiment. BlackRock stated: The Yen’s weakness is turning foreign investors away from Japanese stocks. Financial Markets Performance:   The USDIndex is steady at 105 lows, at 105.58 ahead of US CPI on Wednesday, while USDJPY is holding at 155.80, after retesting May’s high at 155.96. EURUSD steady above 1.0750 as the euro zone prepares for an inflation reading of its own on Friday. USOIL declined amid demand concerns and as traders looked ahead to an OPEC+ meeting on supply policy. On the supply front, the Iraqi Oil Minister initially claimed that production cuts were adequate and opposed further reductions but later deferred decisions to OPEC. Next OPEC+ meeting: June 1. Currently USOIL is at $77.78. Gold corrected to $2349 per ounce, from $2380 highs. Market Trends:   Asian stocks fluctuate between gains and losses, as sentiment was impacted by disappointing Chinese economic data alongside optimism amid reports indicating that the country plans to initiate the sale of ultra-long bonds. European markets are also narrowly mixed in opening trade, while US futures are slightly higher. The NASDAQ is outperforming. Bonds are finding buyers and the 10-year Treasury yield is down -1.0 bp, while Bund and Gilt yields have corrected -1.3 bp and -2.3 bp in early trade. 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.
    • $QCOM Qualcomm stock bull flag breakout, https://stockconsultant.com/?QCOM
    • $JBLU Jetblue stock great day off the 5.73 triple support area, from Stocks To Watch, https://stockconsultant.com/?JBLU
    • AA Alcoa stock big breakout, from Stocks To Watch, https://stockconsultant.com/?AA
    • BOX stock finding some support 26.42 area, bullish stats, https://stockconsultant.com/?BOX
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