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By Stocks4life · Posted
$LEN Lennar stock breakout watch, also see $PHM , analysis at https://stockconsultant.com/?LEN -
By Stocks4life · Posted
$DPRO Draganfly stock back to 1.79 support area with bullish stats , see https://stockconsultant.com/?DPRO -
By Stocks4life · Posted
$EH EHang stock back to 9.25 support area with hgih trade quality , see https://stockconsultant.com/?EH -
By Stocks4life · Posted
$GOTU Gaotu Techedu stock back to 4.1 support area with bullish stats , see https://stockconsultant.com/?GOTU -
By HFblogNews · Posted
Date : 23rd March 2023. Market Update – March 23 – Stocks Slumped Post Fed. Stocks continue month’s downward spiral! Wall Street reversed gains to close with declines of -1.6%, but the slump was a function of comments from Treasury Secretary Yellen rather than the Fed. FOMC hiked 25 bps as expected, 2023 median dot left unchanged at 5.125%. Even though Powell began his press conference reiterating the banking system is “sound and resilient” and assured the Fed is prepared to use all its tools to keep it safe and sound, Yellen at the same time told lawmakers she wasn’t considering ways to provide broad guarantees to uninsured bank deposits. She assured Senator Joe Manchin that in the event the insurance is extended, it could be seen as a “special one-time assessment” where the cost was not a burden to customers with smaller deposits. FX – USDIndex slumped on the less hawkish view to 101.54 as Treasuries and implied Fed funds futures rallied on the policy outcome. That is not far from the 101.21 from February 1 which was the weakest since April 2022. EUR spiked to 1.0920, JPY has corrected to 130.80 from 130.41 low and Sterling to 1.2337 ahead of BOE. In the UK, MPs backed Rishi Sunak’s new Brexit Northern Ireland deal! Stocks – Asian stock markets traded mixed, with Nikkei and ASX following Wall Street lower, but China bourses outperforming. European futures are down, in catch up trade, and ahead of today’s decisions. US100 down –1.6%, the US500 is up at –1.65% and the US30 to -1.63%. PNC -5.49% and US Bancorp USB -7.28% declined more than 5%. Giants like JPMorgan -2.58% and Bank of America Corp. -3.32% slipped more than 2%. First Republic FRC -15.47%. The FAANG era is apparently over! Apple & Microsoft weightage in the S&P500. Commodities – USOil – hovering around $70. Gold – Evening Star Formation & Head and Shoulders failed! Gold recovered and is back to $1980 highs on the weak USD. Next key Resistance at $1990-$2000. Cryptocurrencies – BTC filled March gap but found a floor at $27K. Today – SNB and BOE Decisions are in the spotlight, while EU consumer confidence figures is also on tap. Biggest FX Mover @ (07:30 GMT) GOLD (+1.66%). Jumped to 1983. MAs flattened indicating possible consolidation in the near term but MACD histogram & signal line remain well above 0 and RSI at 67 and flat. 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.
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