forex.pm forex forum binary options trade - Forex - analysis.hotforex.comMarket Update – March 15 – Can the bounce back hold?
  • Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

analysis.hotforex.comMarket Update – March 15 – Can the bounce back hold?

Started by analysis.hotforex.com, forexegitimkitabi.com, binaryoptiontrader.info, Mar 20, 2023, 04:54 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

analysis.hotforex.com, forexegitimkitabi.com, binaryoptiontrader.info

Market Update - March 15 - Can the bounce back hold?

The USD tested into 20-day lows again as Stock markets recovered (NASDAQ +2.14%) from 3 big down days following the SVB shock. US CPI cooled to 6% from 6.4% (as expected), however the CORE figure for February actually rose and demonstrates the “stickiness” of Services inflation in particular. Fed Funds Futures see an 81.2% chance of a 25bp hike next week from the FED. Overnight: The BOJ Mins. confirmed commitment to super easy policy noting a rising inflation picture, Chinese Unemployment surprisingly increased to 5.6% as Retail Sales recovered strongly to 3.5% from –1.8%.



  • FXUSDIndex has dipped again to test the 103.00 zone today, last Wednesday it was at 105.85.  EUR holds over 1.0700 and has breached 1.0750 today. JPY holds over 134.00 but remains capped by 135.00 today. Sterling ahead of the UK Budget today holds at 1.2150 after testing  1.2200 highs on Monday & Tuesday. 

  • Stocks – The US markets rallied yesterday (+1.06% to +2.14%) as tech companies recovered and Banks bounced. Movers: FRC +27%, SCHW +9.19%, META +7.25%, (another 10k job losses) TSLA +5.03%. BANCORP -3.43%, AMC -5.20%. US500 +1.68% (+29.96) to recover 3900 to close at 3920, US500 FUTS higher at 3925 now. 




  • Commodities – USOil – Futures collapsed some4% yesterday, posting new 2023 &  2022 lows at $70.72. It has since recovered +1.35% to recent support levels at $72.20, which could now act as resistance. Gold – holds the key psychological $1900 level, up some $90 an ounce from tests of $1809 last week.    

  • Cryptocurrencies  – BTC breached both $25 & $26K yesterday to test a 9-mth high at $26.3k. Currently it trades below $25k at $24.8k. 


Today –  EZ Industrial Production, US NY Fed, PPI & Retail Sales, UK Spring Budget, IEA OMR, NZ GDP.



Biggest FX Mover @ (07:30 GMT) EURJPY (+0.59%). Continued the rally today from Monday’s low under 141.500 back to test 145.00 now. MA’s aligned higher, MACD histogram & signal line positive & rising, RSI 71.53, OB & rising, H1 ATR 0.222, Daily ATR 1.377.



Click here to access our Economic Calendar


Stuart Cowell


Head Market Analyst


Disclaimer: 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 Leveraged 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.


Source: Market Update - March 15 - Can the bounce back hold?