Daily Technical Analysis By CSFX

[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 03 OCTOBER 2022​

OPEC+ SUPPLY CUT THIS WEEK​

Asian Pacific shares were mixed on Monday. The Shanghai Composite is down 0.55% at 3,024.39. Overall, the Singapore MSCI is down 0.29% at 278.10. Over in Hong Kong, the Hang Seng Index is down 1.52% at 16,948.00. In Japan, the Nikkei 225 is up 0.46% at 26,060.00, while the Topix index is up 0.05% at 1837.00. South Korea’s Kospi is down 0.71% at 2,155.49. Australia S&P/ASX 200 down 0.27% at 6456.90.

TOP NEWS OF THE DAY:​

Oil prices rallied in early trade on Monday following multiple reports that the OPEC+ will decide on supply cuts during a meeting this week, as it grapples with weakening prices.

Multiple reports said on Monday that the Organization of Petroleum Exporting Countries and its allies (OPEC+) is considering production cuts of over 1 million barrels a day (bpd) when it meets on Wednesday, in order to support weakening crude prices.

Market Summary as per 30/09/2022:

European equities Friday closing. The DAX futures contract in Germany traded up 1.16% at 12,114.36, CAC 40 futures up 1.51% at 5762.35 and the UK 100 futures contract in the U.K. up 0.18% at 6,893.82.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.71% at 28725.52. The S&P 500 down 1.51% at 3585.61 and the Nasdaq 100 down 1.73% at 10971.22, NYSE closes down 1.00% at 13472.18.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1250, TAKE PROFIT AT 1.1351 AND STOP LOSS AT 1.1221


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 06 OCTOBER 2022​

JAPAN NO PACT WITH LANKA ON DEBT RESTRUCTURING​

Asian stock markets extended recent gains on Thursday. The Shanghai Composite is down 0.55% at 3,024.39. Overall, the Singapore MSCI is up 0.47% at 286.40. Over in Hong Kong, the Hang Seng Index is up 0.16% at 18,112.00. In Japan, the Nikkei 225 is up 1.03% at 27,360.00, while the Topix index is up 0.76% at 1925.50. South Korea’s Kospi is up 1.37% at 2,244.73. Australia S&P/ASX 200 up 0.03% at 6817.50.

TOP NEWS OF THE DAY:​

Japan has not yet reached an agreement with crisis-hit Sri Lanka to co-chair a summit on negotiations with creditor nations, a government official with direct knowledge of the matter told Reuters, brushing aside a statement from Colombo on Thursday.

Japan is ready to fully support the Indian Ocean Island nation in its credit restructuring, the official said on condition of anonymity, as the issue is a sensitive one.

Market Summary as per 05/10/2022:

European equities Wednesday closing. The DAX futures contract in Germany traded down 1.21% at 12,517.18, CAC 40 futures down 0.90% at 5985.47 and the UK 100 futures contract in the U.K. down 0.48% at 7,052.63.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.14% at 30273.88. The S&P 500 down 0.20% at 3783.29 and the Nasdaq 100 down 0.08% at 11573.18, NYSE closes down 0.40% at 14262.03.

TECHNICAL SUMMARY​

GBPUSD Technical Analysis

TRADE SUGGESTION- BUY AT 1.1321, TAKE PROFIT AT 1.1476 AND STOP LOSS AT 1.1220


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 14 OCTOBER 2022​

STOCKS MAY BE LESS BULLISH AFTER FUNDAMENTAL UNCHANGED​

Asia Pacific stocks surged on Friday. The Shanghai Composite is up 1.84% at 3,071.38. Overall, the Singapore MSCI is up 0.04% at 274.45. Over in Hong Kong, the Hang Seng Index is up 2.80% at 16,865.00. In Japan, the Nikkei 225 is up 3.51% at 27,140.00, while the Topix index is up 3.06% at 1901.50. South Korea’s Kospi is up 2.28% at 2,212.13. Australia S&P/ASX 200 up 1.75% at 6758.80.

TOP NEWS OF THE DAY:​

An eye-popping turnaround in stocks may be less bullish than hoped for, with traders saying short-term hedging activity buoyed equities while leaving the market’s grim fundamentals unchanged.

Data showing consumer prices rose more than expected in September initially sent the S&P 500 tumbling to its lowest point since November 2020 on Thursday, only for the index to mount a furious rally towards midday. In total, the index swung 5.4 percentage points on the day to close up 2.6%.

Market Summary as per 13/10/2022:

European equities Thursday closing. The DAX futures contract in Germany traded up 1.51% at 12,355.58, CAC 40 futures up 1.04% at 5879.20 and the UK 100 futures contract in the U.K. up 0.35% at 6850.28.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 2.83% at 30038.73. The S&P 500 up 2.60% at 3699.89 and the Nasdaq 100 up 2.30% at 11033.58, NYSE closes up 2.53% at 13888.96.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1292, TAKE PROFIT AT 1.1460 AND STOP LOSS AT 1.1220

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[Oscar Shumack]

Scalpers prefer trading by following small time frames, on the other hand, those who are long term traders prefer trading by following big time frames.

 

[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 25 OCTOBER 2022​

OIL GAINS AS U.S. DOLLAR EASES​

Asian stock markets recovered from recent losses on Tuesday. The Shanghai Composite is up 0.27% at 2,985.69. Overall, the Singapore MSCI is up 0.91% at 266.95. Over in Hong Kong, the Hang Seng Index is up 0.64% at 15,237.00. In Japan, the Nikkei 225 is up 1.11% at 27,260.00, while the Topix index is up 1.30% at 1908.50. South Korea’s Kospi is down 0.08% at 2,234.33. Australia S&P/ASX 200 up 0.28% at 6798.60.

TOP NEWS OF THE DAY:​

Oil prices rose on Tuesday as the U.S. dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies such as China.

However, signs of uncertain economic activity in the United States and China, the world’s two biggest oil consumers, limited the increase.

Market Summary as per 24/10/2022:

European equities Monday closing. The DAX futures contract in Germany traded up 1.58% at 12,931.45, CAC 40 futures up 1.59% at 6131.37 and the UK 100 futures contract in the U.K. up 0.64% at 7014.00.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.34% at 31499.63. The S&P 500 up 1.19% at 3797.35 and the Nasdaq 100 up 1.06% at 11430.26, NYSE closes up 0.58% at 14226.10.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1296, TAKE PROFIT AT 1.1454 AND STOP LOSS AT 1.1215


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 27 October 2022​

DOLLAR SELLS OFF ON SPECULATION OF LESS HAWKISH FED​

Asian stock markets rose on Thursday. The Shanghai Composite is down 0.45% at 2,985.91. Overall, the Singapore MSCI is up 0.24% at 270.10. Over in Hong Kong, the Hang Seng Index is up 1.70% at 15,592.00. In Japan, the Nikkei 225 is down 0.36% at 27,340.00, while the Topix index is down 0.65% at 1906.00. South Korea’s Kospi is up 1.73% at 2,288.57. Australia S&P/ASX 200 up 0.50% at 6845.10.

TOP NEWS OF THE DAY:​

The U.S. dollar sank more than 1% against a basket of peers on Wednesday as weakening economic data firmed views that the Federal Reserve will slow the pace of its rate-hiking cycle, sending the euro back above parity with the greenback for the first time in a month.

The dollar’s decline came as the benchmark 10-year U.S. Treasury yield continued its descent from last week’s multi-year high of 4.338%, and was last down four basis points at 4.0317%

Market Summary as of 26/10/2022:

European equities Wednesday closing. The DAX futures contract in Germany traded up 1.09% at 13,195.81, CAC 40 futures up 0.41% at 6276.32 and the UK 100 futures contract in the U.K. up 0.61% at 7056.08.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.01% at 31839.12. The S&P 500 down 0.74% at 3830.59 and the Nasdaq 100 down 2.26% at 11405.90, NYSE closes up 0.63% at 14531.69.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1593, TAKE PROFIT AT 1.1647 AND STOP LOSS AT 1.1576


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 28 OCTOBER 2022​

ECB HIKES KEY RATES BY 75 BASIS POINTS​

Asian shares fell on Friday. The Shanghai Composite is down 1.47% at 2,938.97. Overall, the Singapore MSCI is up 0.50% at 272.70. Over in Hong Kong, the Hang Seng Index is down 3.17% at 14,973.00. In Japan, the Nikkei 225 is down 0.73% at 27,100.00, while the Topix index is down 0.34% at 1898.00. South Korea’s Kospi is down 0.93% at 2,267.48. Australia S&P/ASX 200 down 0.87% at 6785.70.

TOP NEWS OF THE DAY:​

The European Central Bank raised its key interest rates by another 75 basis points and said it plans to hike further in its battle to bring inflation down from a 40-year high.

As such, the key deposit rate – which sets the floor for Eurozone money markets – will rise to 1.50%, while the refinancing rate rises to 2.00% and the marginal lending rate rises to 2.25%.

Market Summary as per 27/10/2022:

European equities Thursday closing. The DAX futures contract in Germany traded up 0.12% at 13,211.23, CAC 40 futures down 0.51% at 6244.04 and the UK 100 futures contract in the U.K. up 0.25% at 7073.70.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.61% at 32033.29. The S&P 500 down 0.61% at 3807.29 and the Nasdaq 100 down 1.88% at 11191.63, NYSE closes up 0.26% at 14569.89.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1530, TAKE PROFIT AT 1.1636 AND STOP LOSS AT 1.1478


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 31 OCTOBER 2022​

DATA SUGGEST FED HAWKS WILL STAY IN CONTROL​

Asian stock markets climbed cautiously on Monday. The Shanghai Composite is down 0.03% at 2,914.94. Overall, the Singapore MSCI is up 2.63% at 280.70. Over in Hong Kong, the Hang Seng Index is up 0.80% at 15,009.00. In Japan, the Nikkei 225 is up 2.04% at 27,560.00, while the Topix index is up 1.99% at 1924.50. South Korea’s Kospi is up 0.94% at 2,289.83. Australia S&P/ASX 200 up 0.97% at 6851.20.

TOP NEWS OF THE DAY:​

The dollar advanced on Monday after strong consumer spending data pointed to persistent underlying inflation pressure, cooling bets that the U.S. Federal Reserve could signal a slowdown in its aggressive monetary policy tightening campaign.

The greenback moved broadly higher in Asia trade, particularly against the Japanese yen, rising more than 0.5% and pushing above the 148-yen level.

Market Summary as per 28/10/2022:

European equities Friday closing. The DAX futures contract in Germany traded up 0.24% at 13,243.33, CAC 40 futures up 0.46% at 6273.06 and the UK 100 futures contract in the U.K. down 0.37% at 7047.68.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 2.59% at 32861.81. The S&P 500 up 2.46% at 3901.07 and the Nasdaq 100 up 3.17% at 11546.21, NYSE closes up 1.55% at 14795.63.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1596, TAKE PROFIT AT 1.1731 AND STOP LOSS AT 1.1480


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 02 NOVEMBER 2022​

ENERGY CRISIS ERODES EUROPE’S INDUSTRIAL STRENGTH​

Asian shares climbed on Wednesday. The Shanghai Composite is up 1.33% at 3,008.59. Overall, the Singapore MSCI is down 0.66% at 279.40. Over in Hong Kong, the Hang Seng Index is up 2.48% at 15,824.00. In Japan, the Nikkei 225 is down 0.18% at 27,640.00, while the Topix index is down 0.15% at 1937.00. South Korea’s Kospi is up 0.20% at 2,339.89. Australia S&P/ASX 200 up 0.14% at 6986.70.

TOP NEWS OF THE DAY:​

Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering – demand for natural gas and electricity both fell in the past quarter.

It is far too early to rejoice, though. The drop is not just because industrial companies are turning down thermostats, they are also shutting down plants that may never reopen.

Market Summary as per 01/11/2022:

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.64% at 13,338.74, CAC 40 futures up 0.98% at 6328.26 and the UK 100 futures contract in the U.K. up 1.29% at 7186.17.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.24% at 32653.21. The S&P 500 down 0.41% at 3856.11 and the Nasdaq 100 down 1.02% at 11288.98, NYSE closes up 0.30% at 14790.70.
GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.1502, TAKE PROFIT AT 1.1598 AND STOP LOSS AT 1.1456


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 23 NOVEMBER 2022​

AS U.S. INVENTORIES DECLINE, OIL PRICES RISE, BUT GAINS ARE LIMITED BY CHINA’S COVID WORRIES.​

Asian stock market closed green on Tuesday. The Shanghai Composite is up 0.13% at 3088.94 Overall, the Singapore MSCI is up 0.14% at 295.88. Over in Hong Kong, the Hang Seng Index is down 1.31% at 17424.41. In Japan, the Nikkei 225 is up 0.61% at 28115.74, while the Topix index is up 1.12% at 1994.75 South Korea’s Kospi is down 0.59% at 2,405.27. Australia S&P/ASX 200 up 0.59% at 7181.30.

TOP NEWS OF THE DAY:​

Oil prices rose further on Wednesday after data indicated that U.S. crude inventories shrank substantially in the past week, although the introduction of new anti-COVID curbs in major Chinese cities put a lid on gains.

Data from the American Petroleum Institute showed that U.S. crude stockpiles fell a bigger-than-expected 4.8 million barrels in the past week, likely heralding a similar decline in official government figures due later today. The focus will also be on the pace of the U.S. government’s drawdown from the Strategic Petroleum Reserve, which is at an over 38-year low.

Weakness in the dollar, amid uncertainty over the path of U.S. interest rates, also helped support prices.

But gains were muted as rising COVID-19 cases in China saw the introduction of more curbs in major cities, particularly Beijing and Shanghai. The country is now struggling with a record-high increase in daily infections, which markets fear could trigger a slowdown in the world’s largest oil importer.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.18850, TAKE PROFIT AT 1.20295, SL AT 1.17712

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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 25 NOVEMBER 2022​

U.S. YIELDS FALL ALONG WITH THE DOLLAR ON DOVISH-FED WAGERS, WHILE HK EQUITIES DECLINE.​

Asian stock market closed green on Thursday. The Shanghai Composite is down 0.25% at 3089.31 Overall, the Singapore MSCI is up 0.19% at 294.43. Over in Hong Kong, the Hang Seng Index is up 0.78% at 17660.90. In Japan, the Nikkei 225 is up 0.95% at 28383.09, while the Topix index is up 1.21% at 2018.80 South Korea’s Kospi is up 0.96% at 2,441.34. Australia S&P/ASX 200 up 0.14% at 7241.80.

TOP NEWS OF THE DAY:​

U.S. long-term Treasury yields sank to a more than seven-week trough on Friday while the dollar dropped back toward recent lows against major peers as markets continued to digest dovish signals from the Federal Reserve.

Expectations of a less aggressive pace of U.S. monetary tightening from as soon as next month continued to support some stock markets in Asia, but Hong Kong’s Hang Seng dropped as record COVID-19 infections in China dimmed the outlook.

The 10-year Treasury yield dipped to 3.65% in Tokyo trading, the lowest since Oct. 5, following Thursday’s U.S. Thanksgiving holiday. The two-year yield slipped to a one-week bottom at 4.424%.

The dollar index, which measures the greenback against the euro, yen and four other rivals, retreated 0.11% to 105.76, heading back toward Thursday’s low of 105.62.

Market Summary as per 24/11/2022:

European equities Thursday closing. The DAX futures contract in Germany traded up 0.78% at 14539.56, CAC 40 futures up 0.42% at 6707.32. UK 100 futures contract in the U.K. up 0.02 at 7466.60

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.28% at 34194.06. The S&P 500 up 0.53% at 4024.28 and the Nasdaq 100 also up 0.99% at 11285.32, NYSE closes 0.41% up at 15545.52.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.21534, TAKE PROFIT AT 1.22772, SL AT 1.20511

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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 28 November 2022​

CONFLICTS IN SHANGHAI AS COVID DEMONSTRATIONS SPREAD THROUGHOUT CHINA​

Asian stock market closed red on Friday. The Shanghai Composite is up 0.40% at 3101.69 Overall, the Singapore MSCI is flat by 0.00% at 293.95. Over in Hong Kong, the Hang Seng Index is down 0.49% at 17573.58. In Japan, the Nikkei 225 is down 0.35% at 28283.03, while the Topix index is down 0.040% at 2018.00 South Korea’s Kospi is down 0.14% at 2,437.86. Australia S&P/ASX 200 is up 0.24% at 7259.50.

TOP NEWS OF THE DAY:​

Hundreds of demonstrators and police clashed in Shanghai on Sunday night as protests over China’s stringent COVID restrictions flared for the third day and spread to several cities in the wake of a deadly fire in the country’s far west.

The wave of civil disobedience is unprecedented in mainland China since President Xi Jinping assumed power a decade ago, as frustration mounts over his signature zero-COVID policy nearly three years into the pandemic. The COVID measures are also exacting a heavy toll on the world’s second-largest economy.

Protesters also took to the streets in the cities of Wuhan and Chengdu on Sunday, while students on numerous university campuses around China gathered to demonstrate over the weekend.

Market Summary as of 25/11/2022:

European equities Friday closing. The DAX futures contract in Germany traded up 0.01% at 14541.38, and CAC 40 futures up 0.08% at 6712.48. UK 100 futures contract in the U.K. is up 0.27 at 7486.67

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.45% at 34347.03. The S&P 500 is up 0.08% at 4027.72 and the Nasdaq 100 is down 0.52% at 11226.36, NYSE closes 0.39% up at 15605.68.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.20980, TAKE PROFIT AT 1.21917, SL AT 1.20229


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 01 DECEMBER 2022​

POWELL SAID THERE IS STILL TIME BEFORE PEAK RATES BUT THAT THE DECEMBER HIKE WILL BE SLOWER​

Asian stock market closes in green on Wednesday. The Shanghai Composite is up 0.59% at 3151.34 Overall, the Singapore MSCI is up 0.15% at 299.75. Over in Hong Kong, the Hang Seng Index is up 2.16% at 18597.23. In Japan, the Nikkei 225 is up 1.43% at 28368.78, while the Topix index is up 0.61% at 1997.64 South Korea’s Kospi is up 1.08% at 2,499.13. Australia S&P/ASX 200 up 0.95% at 7353.60.

TOP NEWS OF THE DAY:​

Federal Reserve Chairman Jerome Powell said that the pace of rate hikes is likely to slow, but the peak level of rates will be higher than previously expected as there is a long way to go to curb above-trend inflation.

“Moderating the pace of rate increases may come as soon as the December meeting,” Powell said in a speech on Wednesday at the Brookings Institution event in Washington. He added that the Fed’s monetary policy was approaching “the level of restraint that will be sufficient to bring inflation down.”

About 70% of traders expect the Fed to slow rate hikes to 50 basis points in December, down from 75 basis points seen in the prior four Fed meetings.

“We continue to expect the FOMC to slow the pace of rate hikes to 50bp in December and to 25bp in February, March, and May, raising the funds rate to a peak of 5-5.25%,” Goldman Sachs said in a note ahead of Powell’s remarks.

Market Summary as per 30/11/2022:

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.29% at 14397.04, CAC 40 futures up 1.04% at 6738.55. UK 100 futures contract in the U.K. up 0.81 at 7573.05.

In the U.S. on Wall Street, the Dow Jones Industrial Average Closed up 2.18% at 34589.77. The S&P 500 up 3.09% at 4080.11 and the Nasdaq 100 up 4.41% at 11468.00, NYSE closes 2.25% up at 15780.02.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.21516, TAKE PROFIT AT 1.22607, SL AT 1.20531

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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 14 DECEMBER 2022​

INFLATION IN THE UK DECREASED MORE THAN ANTICIPATED IN NOVEMBER, RELIEVING PRESSURE ON THE BOE.​

Asian stock market closes in green on Tuesday. The Shanghai Composite is down 0.14% at 3176.33 Overall, the Singapore MSCI is up 0.40% at 298.00. Over in Hong Kong, the Hang Seng Index is up 0.69% at 19596.20. In Japan, the Nikkei 225 is up 0.72% at 27954.85., while the Topix index is up 0.60% at 1965.68 South Korea’s Kospi is up 1.13% at 2372.40. Australia S&P/ASX 200 up 0.67% at 7251.30.

TOP NEWS OF THE DAY: –​

U.K. inflation fell by more than expected in November, easing the pressure on the Bank of England to keep raising interest rates against the backdrop of a recession.

The consumer price index rose by 0.4% on the month, down from an alarming 2.0% in October that was caused by the adjustment of regulated household energy prices. Analysts had expected an increase of 0.6% ahead of time.

That brought the year-on-year rate down to 10.7% from 11.1%.

Stripping out volatile fuel and energy components, the core CPI rate also eased by more than expected, rising only 0.3%, rather than the 0.5% forecast. In annual terms, core inflation is now running at 6.3%, down from 6.5% last month.

The figures come only hours before the Bank of England is set to announce its latest policy decisions.

Market Summary as per 13/12/2022:

European equities Tuesday closing. The DAX futures contract in Germany traded up 1.34% at 14497.89, CAC 40 futures up 1.42% at 6744.98. UK 100 futures contract in the U.K. up 0.76 at 7502.89

In the U.S. on Wall Street, the Dow Jones Industrial Average Closed up 0.30% at 34108.64. The S&P 500 up 0.73% at 4019.65 and the Nasdaq 100 up 1.01% at 11256.81, NYSE closes 0.61% up at 15562.54.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.23730, TAKE PROFIT AT 1.24870, SL AT 1.22966


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[CSFXBONUS]

FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 15 DECEMBER 2022​

HONG KONG CENTRAL BANK RAISES RATES AFTER FED HIKE​

Asian stock market closes in red on Wednesday. The Shanghai Composite is down 0.25% at 3176.53 Overall, the Singapore MSCI is down 0.09% at 298.40. Over in Hong Kong, the Hang Seng Index is down 1.42% at 19673.45. In Japan, the Nikkei 225 is down 0.37% at 28156.21., while the Topix index is down 0.18% at 1973.90 South Korea’s Kospi is down 1.60% at 2399.25. Australia S&P/ASX 200 is down 0.64% at 7204.80.

TOP NEWS OF THE DAY: –​

The Hong Kong Monetary Authority (HKMA) said on Thursday it would raise its base rate charged through the overnight discount window by 50 basis points to 4.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.

The U.S. central bank raised interest rates by half a percentage point. It projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023, as well as a rise in unemployment and a near-stalling of economic growth.

“Rate hike in the U.S. will not affect the financial and monetary stability of Hong Kong,” HKMA Chief Executive Eddie Yue told reporters. “Our monetary and financial markets continue to operate in a smooth and orderly manner. The Linked Exchange rate system (LERS) continues to work well.”

Hong Kong’s monetary policy moves in lock-step with U.S. policy as the city’s currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar.

Market Summary as of 14/12/2022:

European equities Wednesday closing. The DAX futures contract in Germany traded down 0.26% at 14460.20, and CAC 40 futures were down 0.21% at 6730.79. UK 100 futures contract in the U.K. is down 0.09 at 7495.93

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.42% at 33966.35. The S&P 500 is down 0.61% at 3995.32 and the Nasdaq 100 is down 0.76% at 11170.89, NYSE closes 0.43% down at 15494.98.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.22900, TAKE PROFIT AT 1.24074, SL AT 1.22443


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[CSFXBONUS]

Fundamental News And Technical Analysis Report – 19 December 2022​

OIL INCREASES ON EXPECTATIONS OF CHINESE DEMAND AND U.S. SPR REPLENISHMENT​

Asian stock market closes in red on Friday. The Shanghai Composite is down 0.02% at 3167.86 Overall, the Singapore MSCI is down 1.82% at 289.40. Over in Hong Kong, the Hang Seng Index is up 0.42% at 19450.67. In Japan, the Nikkei 225 is down 1.87% at 27527.12. While the Topix index is down 1.20% at 1950.21 South Korea’s Kospi is down 0.04% at 2360.02. Australia S&P/ASX 200 is down 0.78% at 7148.70.

TOP NEWS OF THE DAY: –​

Oil prices rose on Monday, recovering from steep losses in the prior session as markets bet on a demand recovery fuelled by China’s economic reopening, while the Biden administration’s pledge to begin refilling its strategic reserve also brightened the outlook for prices.

Crude markets were buoyant as several Chinese officials, including President Xi Jinping, vowed to shore up economic growth after a year of COVID-19 lockdowns battered the world’s second-largest economy.

The country has now begun relaxing several anti-COVID measures, with recent road and air transport metrics showing that fuel demand is already picking up.

But China is also grappling with a large spike in COVID-19 infections, which analysts warn could spur market volatility amid conflicting signals over an economic reopening.

An announcement by the U.S. Energy Department on Friday that it will begin repurchasing crude oil for the Strategic Petroleum Reserve also supported the outlook for stronger prices.

This will be the United States’ first purchase since this year’s record 180-million-barrel release from the stockpile.

Market Summary as of 16/12/2022:

European equities Friday closing. The DAX futures contract in Germany traded down 0.67% at 13893.07, and CAC 40 futures were down 1.08% at 6452.63. UK 100 futures contract in the U.K. is down 1.27 at 7332.12

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.85% at 32920.46. The S&P 500 is down 1.11% at 3852.36 and the Nasdaq 100 is down 0.97% at 10705.41, NYSE closes 1.08% down at 15018.17.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.22183, TAKE PROFIT AT 1.23384, SL AT 1.21159

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FUNDAMENTAL NEWS AND TECHNICAL ANALYSIS REPORT - 02 JANUARY​

THE FINANCE MINISTER OF GERMANY FORECASTS 7% INFLATION IN 2023​

Asian stock market closes in green on Friday. The Shanghai Composite is up 0.51% at 3073.70. Overall, the Singapore MSCI is flat 0.00% at 288.35. Over in Hong Kong, the Hang Seng Index is up 0.20% at 19741.14. In Japan, the Nikkei 225 is flat 0.00 at 26093.67. While the Topix index is down 0.19% at 1895.27 South Korea’s Kospi is down 0.48% at 2236.40. Australia S&P/ASX 200 up 0.26% at 7020.10.

TOP NEWS OF THE DAY:​

Germany’s finance minister expects inflation in Europe’s biggest economy to drop to 7% this year and to continue falling in 2024 and beyond, but believes high energy prices will become the new normal.

“The target remains 2%. This must be a top priority for the European Central Bank and the German government,” Christian Lindner said in an interview with Bild newspaper published on Sunday.

Pushed by spiking energy prices following Russia’s invasion of Ukraine and falling Russian energy exports, Germany’s year-on-year inflation has slowed slightly in November to 11.3% from a high of 11.6% the month prior.

Lindner said Germany needs an “unbiased” energy policy in order to keep industry ticking, adding that domestic gas and oil fracking and nuclear energy should be considered in the energy sources mix along with renewables.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.20759, TAKE PROFIT AT 1.21045, SL AT 1.20586


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Fundamental News And Technical Analysis Report – 24 January 2023​

THE DOLLAR STRUGGLES AS THE EURO APPROACHES A NINE-MONTH HIGH AND THE YEN RISE.​

Asian stock market closes in green on Monday. The Shanghai Composite is up 0.76% at 3264.81. Overall, the Singapore MSCI is up 0.69% at 303.88. Over in Hong Kong, the Hang Seng Index is up 1.82% at 22044.65. In Japan, the Nikkei 225 is up 1.33 at 26906.04. While the Topix index is up 0.96% at 1945.38 South Korea’s Kospi is up 0.63% at 2395.26. Australia S&P/ASX 200 is up 0.68% at 7457.30.

TOP NEWS OF THE DAY:​

The dollar hovered near a nine-month low to the euro and gave back recent gains against the yen on Tuesday, as traders weighed the risks of a U.S. recession and the path for Federal Reserve policy.

The U.S. dollar index – which measures the greenback against a basket of six peers, including the euro and yen – slipped 0.12% to 101.89, heading back towards the 7-1/2-month low of 101.51 reached last week.

The euro added 0.08% to $1.0880, taking it closer to Monday’s peak of $1.0927, the strongest since April.

“The U.S. is no longer the cleanest shirt in the global economic laundry,” said Ray Attrill, head of the foreign-exchange strategy at National Australia Bank (OTC: NABZY), who expects the dollar index to fall to 100 by end-March and the euro to rise to $1.10.

“That’s integral to our bearish U.S. dollar view, that the U.S. is not going to be the global growth leader.”

Money market traders see only two more quarter-point rate hikes by the Fed to a peak of around 5% by June, with two quarter-point cuts following before year-end. The Fed has insisted 75 basis points of more tightening is likely on the way.

By contrast, Europe’s single currency has been buoyed by comments from European Central Bank officials pointing to further aggressive policy tightening.

The latest was ECB President Christine Lagarde, who on Monday reiterated that the central bank will keep raising interest rates quickly to slow inflation, which remains far too high.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.23440, TAKE PROFIT AT 1.24294, SL AT 1.22842

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Fundamental News And Technical Analysis Report – 26 January 2023​

THE DOLLAR SWAYS CLOSE TO AN EIGHT-MONTH LOW AHEAD OF CENTRAL BANK MEETINGS.​

Asian stock market closes in green on Wednesday. The Shanghai Composite is up 0.76% at 3264.81. Overall, the Singapore MSCI is down 0.51% at 298.38. Over in Hong Kong, the Hang Seng Index is up 1.82% at 22044.65. In Japan, the Nikkei 225 is up 0.35 at 27395.01. While the Topix index is up 0.39% at 1980.69, South Korea’s Kospi is up 1.39% at 2428.57. Australia S&P/ASX 200 is down 0.30% at 7468.30.

TOP NEWS OF THE DAY:​

The dollar held close to an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears and as traders stayed on guard ahead of a slew of central bank meetings next week.

The U.S. dollar index, which measures the greenback against a basket of currencies, inched 0.1% higher to 101.65, after falling as low as 101.52 earlier in the session, testing last week’s eight-month trough of 101.51.

Trading was thin, with Australia out for a holiday and some parts of Asia still away for the Lunar New Year.

Downbeat earnings and guidance from U.S. companies and a string of tech sector layoffs have deepened fears of a sharp economic downturn in the United States, leading investors to pare back expectations on how much longer the Federal Reserve will need to aggressively raise interest rates.

“There are now signs the U.S. economy may be slowing in a more meaningful manner,” said economists at Wells Fargo.

“With the Fed no longer leading the charge on interest rate hikes and U.S. economic trends set to worsen, we now believe the U.S. dollar has entered a period of cyclical depreciation against most foreign currencies.”

The Fed’s policy-setting committee will begin a two-day meeting next week, and markets have priced in a 25-basis-point (bps) interest rate hike, a step down from the central bank’s 50 bps and 75 bps increases seen last year.

Market Summary as per 25/01/2023:

European equities Wednesday closing. The DAX futures contract in Germany traded down 0.08% at 15081.64, CAC 40 futures down 0.09% at 7043.88. UK 100 futures contract in the U.K. down 0.16 at 7744.87

In the U.S. on Wall Street, the Dow Jones Industrial Average Closed up 0.03% at 33743.84. The S&P 500 down 0.02% at 4016.22 and the Nasdaq 100 down 0.18% at 11313.36, NYSE 0.13% closes at 15889.27.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.23990, TAKE PROFIT AT 1.24775, SL AT 1.23286

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Fundamental News And Technical Analysis Report – 27 January 2023​

BOJ USES THE FUNDS-SUPPLY WEAPON ONCE MORE AS YIELDS BEGIN TO RISE.​

Asian stock market closes in green on Thursday. The Shanghai Composite is up 0.76% at 3264.81. Overall, the Singapore MSCI is up 0.68% at 308.52. Over in Hong Kong, the Hang Seng Index is up 2.37% at 22566.78. In Japan, the Nikkei 225 is down 0.12 at 27362.75. While the Topix index is down 0.12% at 1978.40, South Korea’s Kospi is up 1.65% at 2468.65. Australia S&P/ASX 200 down 0.30% at 7468.30.

TOP NEWS OF THE DAY: –​

The Bank of Japan said on Friday it will extend five-year loans against collateral to financial institutions, the second time it has made such an offer after ramping up the funds-supply operation this month to defend its yield control policy.

The announcement underscores the central bank’s resolve to prevent simmering market speculation of a near-term interest rate hike from pushing up bond yields too much.

The BOJ will conduct the funds-supply operation on Tuesday, under which it will offer loans with a five-year duration from Feb. 1, it said in a statement.

The amount of loans to be offered will be announced on Tuesday, it added.

The announcement came after the 10-year Japanese government bond (JGB) yield crept up near the BOJ’s 0.5% cap on Friday, partly on data showing core consumer inflation in the capital Tokyo hit a near 42-year high of 4.3% in January.

In the previous offer made on Monday, the BOJ extended five-year loans worth 3.13 trillion yen ($24.09 billion). The minimum bid interest rate was 0.110%.

At this month’s policy meeting, the BOJ amended rules for the funds-supply operation, so it can pump funds extending up to 10 years to financial institutions against collateral.

Market Summary as per 26/01/2023:

European equities Thursday closing. The DAX futures contract in Germany traded up 0.34% at 15132.85, CAC 40 futures up 0.74% at 7095.99. UK 100 futures contract in the U.K. up 0.21 at 7761.11

In the U.S. on Wall Street, the Dow Jones Industrial Average Closed up 0.61% at 33949.41. The S&P 500 up 1.10% at 4060.43 and the Nasdaq 100 up 1.76% at 11512.41, NYSE 0.61% closes at 15985.87.

TECHNICAL SUMMARY​

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION – BUY AT 1.24245, TAKE PROFIT AT 1.24800, SL AT 1.23571

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