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Message: [QUOTE="HFM, post: 218292, member: 32345"] [b]Date : 7th March 2023. Market Update – Buoyed investor sentiment ahead of Powell.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2020/02/Powell.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2020/02/Powell-696x461.jpg[/IMG][/URL] [B]USD[/B] under pressure, [B]Yields[/B] slightly higher buoyed by investor sentiment which also boosted [B]Stocks[/B] after they sagged through US session. (Reuters) –[B] China’s exports & imports[/B] dropping for January-February pointed to continued weakness in demand for the country’s products & foreign demand, backing government concerns that a global slowdown will be felt at home. [B]RBA raised rates to 3.60% from 3.35%[/B] the highest in more than a decade but suggested it [B]might be nearly done[/B] tightening as consumer spending was slowing and there was less risk of a wages-driven inflation blow-out. [B]The bid fell out of the markets as trading turned more cautious post weak trade data which weighed on Chinese stocks and ahead of Fed Chair Powell’s Testimony.[/B] [LIST] [*][B]Futures traders are pricing in a 76%[/B] probability the Fed will raise rates by 25 basis points at its March 21 to 22 meeting and a 24% likelihood of a 50 bp increase. [*][B]USD holds[/B] at 10-day low area at [B]104.12[/B] now. [B]Euro[/B] retests [B]1.07[/B], [B]Sterling[/B] jumped to [B]1.2062 [/B]above 20-DMA. [B]Aussie[/B] at a more than 2-month low of [B]0.6690[/B]. [*][B]Stocks –[/B] [B]JPN225[/B] +0.25% at 28,309 – [B]US500 at[/B] [B]4058,[/B] [B]US100[/B] +1% at [B]12348, US30[/B] +0.12% [B]33487.META [/B]will cut thousands of jobs as soon as this week in a fresh round of layoffs. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-07_08-33-38.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-07_08-33-38.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil – jumped to [/B]$80.93. China’s crude oil imports fell 1.3% in the first two months of 2023 from a year earlier, data showed on Tuesday, but analysts pointed to accelerating imports in February as a sign that fuel demand was rebounding after Beijing scrapped COVID-19 controls. [B]Gold –[/B] slightly higher at $1850.98. [*][B]Cryptocurrencies – BTC [/B]– steady at $[B]22k.[/B] [/LIST] [B]Today – Fed Chair Powell’s Testimony first to the Senate Banking Committee, and then to the House Finance Committee tomorrow. He is expected to reiterate the Fed’s hawkish stance of higher for longer rates.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-07_09-45-43.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/03/2023-03-07_09-45-43.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]GBPAUD [/B](+0.50%). Rallied to 1.7982. MAs aligned higher, MACD histogram & signal line extend higher, RSI 75 & rising, H1 ATR 0.00271, Daily ATR 0.01426. [b]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.[/b] Click [url=https://www.hfm.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] 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 [url=https://www.hfm.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hfm.com/][b]Click HERE to READ more Market news.[/b][/url] [b] Andria Pichidi Market Analyst HFMarkets Disclaimer:[/b] 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. [/QUOTE]

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