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Message: [QUOTE="HFM, post: 234364, member: 32345"] [b]Date: 9th July 2024. Market News – Stocks Under Pressure Ahead of Powell.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG][/URL] [B]Economic Indicators & Central Banks:[/B] [LIST] [*][B]Trading was nondescript[/B] with the markets digesting recent data, including the jobs report, and events including the elections overseas. [*][B]Asian stock markets[/B] were supported, however, the positive mood didn’t spill over into [B]Europe[/B], where indexes are mostly lower. [*][B]US futures are finding some buyers[/B] but investors are cautious ahead of Powell’s testimony. [B]Powell[/B] will be questioned on the prospects for rate cuts. [*][B]Japan: the BoJ[/B] will speak face-to-face with market participants over the next couple of days as the bank tries to set a realistic pace for the planned reduction of bond purchases. [*][B]China:[/B] investors continue to weigh the bank’s new liquidity operations. The bank is aiming to take greater control over short-term borrowing costs and investors seem to take it like a rate hike, which put pressure on bonds. Markets are also looking ahead to the biggest annual policy meeting, with hopes of additional stimulus measures. [/LIST] [B]Asian & European Open:[/B] [LIST] [*][B]Wall Street was mixed.[/B] Strength in big tech rallied the [B]NASDAQ[/B] and [B]S&P500,[/B] albeit marginally, with gains of 0.28% and 0.10%, respectively. But the gains were enough for more fresh highs, the 25th and 35th of the year. [*][B]Nikkei[/B] and [B]Sensex[/B] touched fresh all-time highs, after the [B]S&P500[/B] led the way. [*]Long bonds are also down in [B]Europe[/B] and the [B]US,[/B] after a drop in yields across key Asian markets. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2024/07/X-UPDATE-8.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2024/07/X-UPDATE-8.png[/IMG][/URL] [B]Financial Markets Performance:[/B] [LIST] [*]The [B]USDIndex [/B]softened to a session nadir of 104.80 on broadbased weakness, and especially as [B]GBP[/B] and [B]EUR[/B] stabilized. But the buck rebounded confidently to 105.09. [*][B]Bitcoin[/B] steadied but remains below the key $59k level. [*][B][B]Oil [/B][/B]remained relatively stable following a 2-day decline, as Hurricane Beryl appeared less likely to cause significant disruptions to Texas’ crude infrastructure. However it’s hovering at the key 81.60 level (repeated resistance in the mid of June). [*][B]Gold[/B] steadied after experiencing its largest drop in two weeks on Monday, while [B]copper[/B] edged lower. [/LIST] [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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