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By HFblogNews · Posted
Date: 14th May 2024. Market News – May 14. Economic Indicators & Central Banks: Asian stocks and European futures kept to small ranges as focus turned to upcoming US inflation reports. JGB yields surged to their highest levels in over a decade amid growing speculation that the BOJ might raise interest rates soon. Former central bank executive Momma stated that the BOJ might opt to deduct its planned bond purchases next month in an effort to revive a bond market that has been largely impaired by its ongoing substantial purchases. BOJ Governor Kazuo Ueda emphasized the importance of the market determining long-term yields independently rather than relying solely on the central bank’s actions. UK wage growth remained solid amid a slowdown in the job market, providing further arguments for the BOE’s monetary policy hawks to await more concrete signs of easing inflationary pressures before considering interest rate cuts. Eyes today are on producer price data in the US, followed by consumer price data the next day, which will provide insights into whether the Fed will consider interest rate cuts later in the year or postpone them until 2025. Financial Markets Performance: The USDIndex is steady at 105 lows. The Yen extended losses for an 8th day against the Greenback to a 2-week low. Currently USDJPY is at 156.45. EURUSD rebounded slightly to 1.0785, however overall holds within a downwards channel with key resistance at 1.0850. USOIL held steady ahead of the release of an OPEC market outlook, with traders eagerly awaiting signals regarding the extension of supply curbs. Despite a decline since April, oil prices have remained relatively high this year due to ongoing supply restrictions by OPEC and its allies, with expectations that these curbs will be prolonged into the second half of the year. Currently USOIL is at $77.78. Gold (-0.93%) declined further to $2338 per ounce. Copper rose at +2.46% and Platinum +0.54%. Market Trends: The 10-year JGB yield to a 6-month high of 0.965%. The 2-year JGB yield, which closely reflects policy expectations, rose to 0.340%, its highest since June 2009. The 20-year and 30-year JGB yields also surged to their highest levels in 11 years and since July 2011, respectively. FTSE100 stands by record highs, the S&P500 is close to topping March’s record high. The Nasdaq rose by 0.3%, with four of the Magnificent Seven stocks rising. The Hang Seng has added 20% in a rally that is entering a fourth week. Alibaba and Tencent report earnings later today. 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. -
By HFblogNews · Posted
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. -
By Stocks4life · Posted
$QCOM Qualcomm stock bull flag breakout, https://stockconsultant.com/?QCOM -
By Stocks4life · Posted
$JBLU Jetblue stock great day off the 5.73 triple support area, from Stocks To Watch, https://stockconsultant.com/?JBLU -
By Stocks4life · Posted
AA Alcoa stock big breakout, from Stocks To Watch, https://stockconsultant.com/?AA
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