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Message: [QUOTE="HFM, post: 221946, member: 32345"] [b]Date 28th June 2023. Market Update – June 28 – “Summer Sequel”.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2020/03/Lagarde.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2020/03/Lagarde-696x393.jpg[/IMG][/URL] European stock markets are higher in early trade, after a largely stronger session in Asia. Overnight, Treasury yields climbed and Wall Street bounced, supported by strong data, i.e. [LIST] [*]US new home sales soared 12.2% to heady 763k pace in May [*]US consumer confidence spiked to 109.7 in June; 1-year inflation 6.0% [*]US durable goods orders jumped 1.7% in May, 0.6% ex-transportation [/LIST] [B]Japan[/B] extended the term of its top currency official for another year, which was taken as a sign that officials remain determined to stem the weakness of the currency, although for now markets are testing that resolve. [B]Canada CPI[/B] slowed to 3.4% y/y in May, Median core rate at 3.9% y/y. [B]Australia CPI cooled at 5.6% in May, [/B]a faster rate than expected, raising the prospect of a pause in interest rate rises from the Reserve Bank of Australia.[B] ECB officials continue to flag[/B] that they have more ground to cover on rates, despite the deterioration in confidence indicators. [IMG]https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-28_09-53-19.jpg[/IMG] Today, [B]German GfK consumer confidence deteriorated. [/B]The domestic political discussions may be partly to blame for the gloomy picture, but high inflation and the ongoing Ukraine war are likely also weighing on confidence and depressing the outlook. Latest revisions showed Germany in recession over the winter and GDP is expected to contract in 2023, especially as rising rates will also start to have an effect on activity. [LIST] [*][B]FX – The USDIndex [/B]recovered yesterday’s losses and returned to [B]102.29[/B], but remains firmer versus [B]JPY[/B] and [B]Turkish lira. USDJPY [/B]has cleared the [B]144[/B] mark, today slightly below it though.[B] EUR[/B] at [B]1.0939,[/B] [B]Pound [/B]down to [B]1.2719. AUD[/B] and[B] NZD [/B]under pressure after soft inflation data dampened rate hike expectations. [*][B]Stocks – Nikkei [/B]rallied 2%, the [B]ASX[/B] was 1.1% higher at the close, while China bourses underperformed as markets still miss convincing stimulus measures. [B]GER40[/B] and [B]UK100[/B] are up 0.4% and 0.3% in early trade, but US futures are slightly lower today. [B]#Walgreens[/B] tumbled more than 9% to an almost 13-year-low after cutting its full-year profit outlook and warning that consumers were paring spending as inflation remains elevated. [B]#Regeneron[/B] slipped 8.7% after the Food and Drug Administration rejected the biotechnology firm’s application for approval of a high-dose version of its eye disease treatment Eylea. [B]#United Airlines[/B] and #[B]American Airlines[/B] rallied more than 5% after rival Delta gave a rosy outlook for the year on sustained travel demand.[B] #Delta[/B] shares rose 6.8%. [B]#NVDA[/B] -3.1%, [B]#AMD[/B] -2.4% after hours as US ban on exporting AI chips to China imminent. [*][B]Commodities[/B] – [B]USOil[/B] dropped back again as Russia jitters eased, to $67.70. [*][B]Gold [/B]down to [B]$1909.[/B] [/LIST] [B]Today[/B] – The ECB’s conference on central banking in Sintra the highlight of the day. [HEADING=3][URL='https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-28_10-30-18.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-28_10-30-18.jpg[/IMG][/URL][/HEADING] [B]Biggest Mover[/B] @ (06:30 GMT) [B]NZDUSD (-1.03%) [/B]dipped to [B]0.6095 (S3)[/B].[B] [/B]Fast MAs aligned lower, MACD lines are negatively configured with RSI at 24. [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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