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Market Internals
Discussion forum on market internals, pit noise/action, and price action to determine the overall strength/weakness of the markets.
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By HFblogNews · Posted
Date : 26th May 2023. Market Update – May 26 – 2-year Debt Ceiling Deal Approaching? The USDIndex holds the breach of 104.00 on news the US debt ceiling talks are progressing and a 2-year deal is possible. Strong US data yesterday also added to pressure on the FED to hike at least one more time. Susan Collins from the Boston Fed, suggested that a pause in June “may be appropriate”. Stocks were mixed, NASDAQ (+1.71%) lifted by a record +24% advance for Nvidia. Yields also rallied, with short end of the curve at 10-week highs as the 2-yr yield holds over 4.5%. Overnight, the Yen remains weighed and the Nikkei 225 outperformed following inflation data and news that the BOJ is likely to maintain the YCC until “at least next year”. Overnight – Japan – Tokyo CPI missed at 3.2% vs. 3.4% but remains much stronger than at any time in recent history, also PPI came in higher than expected at 1.6% vs 1.4%. AUD – Retail Sales added to the weak data this week missing at 0.0% vs. 0.4%, UK – Retail Sales beat (0.5% vs 0.3%) but last months data was revised lower to -1.2% from 0.9%. FX – USDIndex has rallied to 104.22, another new 2-month high. A stronger USD continues to weigh on EUR which tested down to the 1.0700 zone yesterday, trades at 1.0730 now. JPY breached 140.00 & still holds over 139.50 at 139.65 now. Cable slipped again to 1.2310 lows yesterday, recovering a little to the 1.2350 handle. Stocks – Wall Street traded mixed all day and closed that way. (-0.11% to +1.71%). NVDA +24.37%, MRVL +7.6%, DLTR -12.00%. US500 (+0.88%) closed 36.34 pts at 4151, FUTS are trading at 4159, and a third day below the key resistance at 4175. Commodities – USOil – Futures declined into $71.00 zone from $74.25 following mixed news regarding Saudi output cut threats. Gold – moved lower again, to $1937, tbut has since recovered to the key $1950 handle. Cryptocurrencies–BTC pushed to test under $26k yesterday and remain capped at $26.5k today as USD strength persists. Today – Core PCE Price Index, Core Durable Goods Orders, Personal Income & Spending, UoM Consumer Sentiment & Inflation Expectations. Biggest FX Mover @ (06:30 GMT) USDJPY (-0.24%) Following a strong rally to 140.22 giving back some gains today. MA’s aligning lower, MACD histogram & signal line positive but slipping, RSI 48.17 & neural, H1 ATR 0.152, Daily ATR 1.096. 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. Stuart Cowell Head 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. -
By Stocks4life · Posted
$FVRR Fiverr stock breakdown watch , see https://stockconsultant.com/?FVRR -
By Stocks4life · Posted
$PTGX Protagonist Therapeutics stock breakout watch above 26.66 , see https://stockconsultant.com/?PTGX -
By Stocks4life · Posted
$CRM Salesforce stock breakout watch , see https://stockconsultant.com/?CRM -
By Stocks4life · Posted
$EYE National Vision stock narrow range breakout watch above 25.95 , see https://stockconsultant.com/?EYE
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