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Message: [QUOTE="HFM, post: 219027, member: 32345"] [b]Date : 5th April 2023. Market Update – April 5 – Stock markets struggle.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1-696x391.jpg[/IMG][/URL] [B]USD[/B] remains under pressure, post the weaker than expected [B]JOLTS and factory orders[/B] reports which set the stage for another strong rally in Treasuries as they heightened beliefs the FOMC is nearing the end of its tightening cycle. Yields plunged on the data headlines. [B]RBNZ surprised, [/B]raised to 5.25% from 4.75% – the country’s economy is headed for recession, defined as two consecutive quarters of negative growth. [B]US Stock markets[/B] sold off slightly into the afternoon with declines of about -0.5% as the weaker data dominated. [B]BoE’s Hunt[/B] hinted for a rate rise in May. [B]Pound[/B] at its highest level in 10 months, with slightly stronger than expected economic growth and an uptick in inflation in February raising the chances of higher interest rates. [B]German manufacturing orders much stronger than expected.[/B] [LIST] [*][B]FX[/B] – [B]USDIndex ranging 101.11-101.29.[/B] [B]EUR[/B] steady above [B]1.0950[/B]. [B]JPY [/B]lifted extending 3-day gains, currently at [B]131.50[/B] from [B]133.75[/B] high against USD. [B]Sterling[/B] boosted to [B]1.2522[/B] reaching June 2022 highs. [*][URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-05_09-18-37.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-05_09-18-37.jpg[/IMG][/URL] [*][B]Stocks – Asian stock markets struggled,[/B] and [B]European[/B] stock futures are also mostly in the red, after another disappointing data round in the US undermined confidence in the recovery and left Wall Street with another loss. Japanese markets underperformed and the Nikkei lost -1.7%. [B]Walmart[/B] shares -1% afterhours as it sticks with cautious sales outlook for first quarter. [B]Ford’s[/B] quarterly sales jump 10% as supply improves. [*][B]Commodities – USOil is sideways between[/B] [B]$80- $82 [/B]as concerns of further tightening support oil prices for now. [*][B]Gold[/B] – rallied to [B]$2026.[/B] [*][B]Cryptocurrencies [/B]– [B]BTC[/B] extending above [B]$28.5k.[/B] [/LIST] [B]Today – Service PMI’s from EZ, UK & US ISM Services & Trade Balance and ADP Private Payrolls.[/B] [URL='https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-05_09-19-46.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/04/2023-04-05_09-19-46.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (07:30 GMT) [B]NZDUSD [/B](+0.52%). Spiked to 0.6378. MAs flattened, MACD line below histogram, RSI turn below 80 and Stochastic at 55 indicating the end of the rally. [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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