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Coding Forum

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    • Date: 29th April 2024. Market News – Yen spikes after drifting to 1990’s levels. Economic Indicators & Central Banks:   The Yen recovered sharply following a plunge to its lowest level in 34 years (USDJPY above 160 for the first time since 1990), prompting speculation of potential intervention by authorities. – The volatility was attributed in part to thin liquidity due to a public holiday in Japan. Japan’s Kanda Said: ‘No Comment for Now’ when asked if intervened. Note: Japan is closed for holidays – Showa Day European and US stock futures climbed, mirroring a positive trend in Asian markets. China industrial profit growth slowed sharply. Data will add to concerns that the government is struggling to maintain growth momentum. Chinese stocks led the rally in Asia, supported by increased foreign investment and improved earnings. Property shares surged following positive developments, including major developer CIFI Holdings Group Co. resolving liquidity issues with bondholders. US Treasury returns have declined by 2.3% this month – largest monthly drop since February 2023. Market sentiment now suggests only one Fed rate reduction for 2024. Geopolitics: US Secretary of State Antony Blinken is engaged in efforts to broker a ceasefire in Gaza during meetings in the Middle East today. Financial Markets Performance:   USDJPY hit a session high of 160.17 before the sharp bounce in the Yen, not just against the Dollar. Markets saw the bounce as sign of possible government intervention, with Japanese banks reportedly dumping dollars aggressively. USDJPY fell as low at 155.06, but has already inched up to 157.02. The USDIndex fell back to 105.30 across all of its G7 peers. USOIL steady at $82-60-83.00 per barrel and Gold is also consolidating at $2330 per ounce. Market Trends:   Stock markets rallied overnight, with the Nikkei gaining 0.8% as the Yen rallied amid intervention speculation. The Hang Seng jumped 0.98%, the CSI 300 lifted 1.3%. The S&P500 rallied 1% to finish its first winning week in the last four. The Dow rose 153 points, or 0.4%, and the Nasdaq composite jumped 2%. 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.
    • $WING Wingstop stock narrow range breakout watch, https://stockconsultant.com/?WING
    • $GM General Motors stock top of range breakout watch, https://stockconsultant.com/?GM
    • $STOK Stoke Therapeutics stock back to 11.39 gap support with high trade quality, https://stockconsultant.com/?STOK
    • $HPE Hewlett Packard Enterprise stock low volume pullback to the 17.02 triple+ support area, https://stockconsultant.com/?HPE
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