HFM.
Experienced member
- Messages
- 1,942
- Likes
- 0
Date : 13th April 2022.
Market Update – April 13 – Inflation & Earnings come into focus.
Yields lost their bid, USD held onto gains, Stocks were lifted by the hot US CPI headline data, (new 40-yr high at 8.5%) only to close the day in the red as the CORE figure missed and suggested the top for inflation may be coming sooner than expected. JPY (weak data) & EUR (Putin saying talks at “dead-end”). NZD jumped as RBNZ raised rates by 50bp (largest in 22-yrs). Oil recovered $100, Gold moved higher again.
Overnight – JPY Machine Orders & Money Supply miss significantly (-9.8% vs.-1.5%). China Trade Balance (surplus) more than doubles, Exports beat, Imports surprisingly fall. UK Inflation at 30-yr high CPI, (7.0%) CORE (5.7%) RPI (9.0%) & PPI 19.2% – all stronger than expected.
Today – US PPI, New Zealand Manufacturing PMI, BoC Policy Announcement, IEA OMR, Earnings from BlackRock, Delta Air Lines, JPMorgan.
Biggest FX Mover @ (07:30 GMT) EURNZD (+0.77%) Dipped to 1.5700 on RBNZ announcement, reversed quickly to test 1.5935 now. Next resistance 1.5970 & 1.6000. MAs aligned higher, MACD signal line & histogram moving higher & over 0, RSI 68 & rising, H1 ATR 0.00357, Daily ATR 0.01640.
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 HotForex 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
HotForex
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.
Market Update – April 13 – Inflation & Earnings come into focus.
Yields lost their bid, USD held onto gains, Stocks were lifted by the hot US CPI headline data, (new 40-yr high at 8.5%) only to close the day in the red as the CORE figure missed and suggested the top for inflation may be coming sooner than expected. JPY (weak data) & EUR (Putin saying talks at “dead-end”). NZD jumped as RBNZ raised rates by 50bp (largest in 22-yrs). Oil recovered $100, Gold moved higher again.
- Stocks closed marginally lower after strong start. Asia markets stronger (Nikkei +1.68%) & UK & European FUTS marginally higher
- Yields rally cooled, 10-yr from top at 2.836% to close at 2.727% & now at 2.738%.
- EUR fell again after Putin comments.
- USD holds bid, NZD broke 0.6900 briefly as RBNZ said they were not changing their outlook, but just bringing forward rate hike cycle.
- Oil continued to recover and holds over $100 – Shanghai lockdowns ease further but record levels of new COVID infections nationwide.
Overnight – JPY Machine Orders & Money Supply miss significantly (-9.8% vs.-1.5%). China Trade Balance (surplus) more than doubles, Exports beat, Imports surprisingly fall. UK Inflation at 30-yr high CPI, (7.0%) CORE (5.7%) RPI (9.0%) & PPI 19.2% – all stronger than expected.
- USDIndex rallied to test new high 100.42 , trades at 100.34 now.
- US Yields 10-yr closed lower at 2.727%, up again now to 2.824%.
- Equities – USA500 -15.08 (-0.34%) at 4397. (A breach of 4400) – US500 FUTS 4418. TWTR (-5.38%) – Earnings Season kicks off today.
- USOil – Trades at $100.30 following a rally to $102.00, Shanghai eases some lockdowns.
- Gold – held $1950 yesterday and tested next resistance at $1975, back to $1970 now.
- Bitcoin continued to decline from key 45k to test 39k zone, recovered to 40k now.
- FX markets – EURUSD back to test 1.0810 earlier, (5-wk lows) now 1.0830. USDJPY breaks 126.00 to trade at 126.15 and Cable sinks back to test 1.2985 as USD bid continues and very hot inflation data weighs.
Today – US PPI, New Zealand Manufacturing PMI, BoC Policy Announcement, IEA OMR, Earnings from BlackRock, Delta Air Lines, JPMorgan.
Biggest FX Mover @ (07:30 GMT) EURNZD (+0.77%) Dipped to 1.5700 on RBNZ announcement, reversed quickly to test 1.5935 now. Next resistance 1.5970 & 1.6000. MAs aligned higher, MACD signal line & histogram moving higher & over 0, RSI 68 & rising, H1 ATR 0.00357, Daily ATR 0.01640.
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 HotForex 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
HotForex
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.