HFM

Date : 23rd May 2022. Market Update – May 23 – USD Dips, Stocks Pressured, Futures Higher. USD slipped again, Stocks had a torrid day on Friday, but recovered in final hour, Bear market talk dominated weekend press. Asian markets rose, and US Futures up 1.6% after improvements in Shanghai covid news as isolation times were reduced, but record cases in Beijing. Biden in Tokyo, offered olive branch to Kim, says US recession “not inevitable” and is willing to us force to defend Taiwan. AUD & NZD rally on new Aussie PM. USDIndex down to 12-day low at 102.6 and 5th down day of last seven. Equities – USA500 0.57 (0.005%) at 3901, US500FUTS at 3952 now. Yields down 10-yr closed at 2.788%, now up at 2.79% Oil & Gold both had positive sessions – USOil rallied to test $110.00 earlier today from $103.50 on Thursday. Gold holds $1850 today from lows at $1788 last week. Bitcoin rotates through $30K – Lagarde says crypto assets are ‘worth nothing.’ FX markets – EURUSD up from 1.0355 to 1.0600, parity calls falling. USDJPY under 128.00, and Cable back to 1.2570. AUD again outperformed in Asia. Overnight – GBP House Prices hotter than expected & RBA’s Kent says the Bank’s estimate of the neutral rate is 2 to 3%. Today – German Ifo Survey, Speeches from BOE’s Bailey ECB’s Villeroy & Fed’s Bostic Biggest FX Mover @ (06:30 GMT) AUDUSD (+1.20%) Rallied from lows at 0.7000 on Friday to 0.7125 today, following new labor PM’s election. MAs aligning higher, MACD signal line & histogram moving higher line, RSI 70, OB & rising, H1 ATR 0.0020, Daily ATR 0.0111. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell HF Market Analyst HFMarkets 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 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.

Date : 13th May 2022. Market Update – May 13 – USD dominates, Stocks lick their wounds. USD holds at highs following hot CPI & PPI data but with signs the peak may have been reached. Stocks stalled their recent declines, closing flat in the US and bouncing in Asian markets (Nikkei +2.6%), Yields climbed as risk appetite improved, Fed Chair Powell still flagged half-percentage point interest rate increases at the next two policy meetings, adding that the Fed is “prepared to do more!” and that stable prices are the “bedrock” of the economy but it will cause “some pain”. Oil continued to rally on supply concerns whilst Gold dipped to within $10 of $1800. Kuroda maintains dovish guidance even as Inflation moves higher, Russia threatens “technical retaliation” as Finland seeks NATO membership, Sweden to follow? Putin “humiliating himself on the world stage” – UK Foreign Sec. Truss. USDIndex rallied to within 5 ticks of 105.00 and remains at 20-year highs at 104.75 up from 103.60 last Friday. Equities – USA500 -5.10 (0.25%) at 3930, US500FUTS at 3955 now. COIN +8.9%, TSLA -0.82%, (Musk would not back TRUMP in 2024). APPLE -2.69%, GM -4.59%. Yields rallied, 10-yr closed at 2.817%, significantly below key 3.00% level. Trades up at 2.89% Oil & Gold both had weak & volatile sessions – USOil rallied to test $108.00 earlier today from $98.00 on Wednesday. Gold slump continued with a test of $1810 on open today from highs this week at $1885, struggles at $1822 now. No safe-haven bid. Bitcoin languishes at $30K now, but up from $26.5k. 6th consecutive week lower. FX markets – EURUSD up from 1.0355 to 1.0400, parity calls rising. USDJPY dived from 130.00, to 127.50 yesterday now back to 128.70 and Cable continues to struggle at 1.2335. AUD again outperformed in Asia. Overnight – JPY Money Supply better than expected & French M/M CPI in-line at 0.4%. Today – US Export/Imports Prices, UoM (Prelim.) data, Speeches from ECB’s Schnabel, de Guindos & Fed’s Kashkari. Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.74%) Rallied from lows at 87.30 yesterday as risk appetite raised it’s head to 89.00 ( and next resistance) earlier. Now back to 88.55. MAs aligning higher, MACD signal line & histogram moving higher & testing 0 line, RSI 48 & rising, H1 ATR 0.346, Daily ATR 1.67. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell HF Market Analyst HFMarkets 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 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.

Date : 12th May 2022. Market Update – May 12 – Tech Trounced as Inflation Possibly Peaks. USD rallies to new highs following much volatility after US CPI data for April was lower than March but higher than expected, rekindling concern that aggressive central bank action will weigh on growth. Stocks sharply into the red, Yields spiked sharply higher as talk of Treasury rout also cools with 10-yr back under 3.00%. Oil jumped after Russia sanctioned 31 companies & on recession fears. Gold slightly up, but holds below $1860. Bitcoin tumbled to new 16-month low. UK economy shrinks in March, grows 0.8% in Q1. Nomura estimated this week that 41 Chinese cities are in full or partial lockdowns, making up 30% of the country’s GDP. Reuters: “Property developer Sunac China missed a bond interest payment and will miss more as China’s real estate sector remains in the grip of a credit crunch.” New Zealand inflation survey steady. USDIndex spiked to 104.20 & holds its bid trading at 104 now. Equities – USA500 slid below the 4000 level before bouncing back, into the green with the USA30. But all of the indexes crashed into the close, paced by the USA100’s -3.18% plunge. Nikkei dropped 1.8%, the ASX also -1.8%. Yields had jumped to 2.839% and 3.07%, respectively, in the immediate aftermath of the data. 10-year rate closed 6.5 bps lower at 2.920%, with the 2-year up 3 bps to 2.64%. Oil breached $106.23 before reversing to $103.46 (PP of the day). Bitcoin fire-sale of risky assets as rate hikes gather steam, fell 7% to $26,673. FX markets – EURUSD down to 1.0489, USDJPY drifted further on EU open to 129.25, & Cable retests 1.2210. AUD & NZD at 2 year lows. Today – US PPI & Initial Claims, Speeches from BOC Gravelle. Biggest FX Mover @ (06:30 GMT) ETHUSD (-12.47%) Down to June 2021 low, at 1787. MAs aligning lower, MACD signal line & histogram extend lower, RSI 27 OS, H1 ATR 90.59, Daily ATR 236.65. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets 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 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.

Date : 11th May 2022. Market Update – May 11 – All About the Inflation Outlook. USD holds at highs and on standby for US CPI later, Stocks stalled their recent declines, Yields cool a tad as talk of Treasury rout also cools with 10-yr back under 3.00%. Oil paused its 9% slump on EU Oil ban and OPEC talk of capacity issues. Gold under $1850. Asian shares off 2-year lows (Nikkei +0.18%). Chinese Inflation hotter than expected, Biden supports FED actions, more Fed members talk rate hikes, NZ housing market shows signs of cooling. US House of Representatives approves $400bn support package for Ukraine as US intelligence chief talks of Putin preparing for “long war”. USDIndex remains under 104.00 but holds its bid trading at 103.75 now. Equities – USA500 +9.81 (0.25%) at 4001.05, US500FUTS at 4015 now. Peloton -8.7% @ $12.70 (ATH was $171), COIN -12.6%, TSLA +1.64%, TWTR -1.64% (Musk would allow TRUMP back). APPLE (+1.61%) retired the iPod after 21 years. Yields cooled -10-yr closed at 2.993%, below key 3.00% level. Trades down over 1.5% today at 2.98%. Oil & Gold both had weak & volatile sessions – USOil tested down to $98.00 before reversing to $102.20 Gold slumped from $1865 to $1830 earlier and struggles at $1845 now. No safe-haven bid. Bitcoin languishes at $31K now, over 50% down from ATH and -35% YTD FX markets – EURUSD up from 1.0500 to 1.0545, USDJPY holds over 130.00, at 130.25 and Cable continues to struggle at 1.2335. AUD outperformed in Asia. Overnight – CHINA CPI & PPI hotter than expected, (2.1% vs 1.5% & 8.0% vs 7.8%) respectively. JPY leading Indicators better than expected & German M/M CPI in-line at 0.8%. ECB’s Müller: Appropriate to raise rates into positive territory by year-end. Fed’s Waller & Mester more hawkish. (Mester talked of going beyond neutral) Today – US CPI, Speeches from Fed’s Bostic, ECB’s Lagarde, Schnabel, Elderson, de Cos, Centeno, Vasle & Muller. Earnings from Ubisoft, Siemens Energy, Poste Italiane, E.ON, Continental, ITV, Compass & Beyond Meat. Biggest FX Mover @ (06:30 GMT) AUDUSD (+0.42%) Rallied from lows at 0.6910 yesterday to 0.6970 now, next resistance 0.6980 and 0.7000 today. MAs aligning higher, MACD signal line & histogram moving higher & testing 0 line, RSI 56 & rising, H1 ATR 0.0016, Daily ATR 0.011. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HFMarkets 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 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.

Date : 10th May 2022. Market Update – May 10 – Stocks Stabilize After Huge Risk-Off Monday. USD cools from recent highs, Stocks stall their decline after Monday rout (NASDAQ -4.29%), Yields hold at highs with 10-yr over 3.00%. Gold and Oil both slumped as risk-off rattled markets CB tightening and rising inflation fears continuing to spook sentiment. Asian markets weaker (Nikkei -1.00%) and European Futures all weaker. USDIndex tested new at highs at 104.20 yesterday back to 103.60 now. Equities – USA500 -132 (-3.20%) at 3991, first close below 4k since March 2021. US500FUTS at 4022 now. Yields moved higher, 10-yr closed at 3.079%, holding key 3.00% level. Trades at 3.054% now Oil & Gold both had weak & volatile session – USOil tested down to $100.00 before reversing to $102.20 now from opening trades over $109.00. Gold slumped from $1885 zone to $1850 yesterday and struggles at $1860 now. Bitcoin crashed through $30K struggling with $32K now. FX markets – EURUSD up from 1.0500 to 1.0560, USDJPY holds over 130.00, at 130.40 and Cable continues to struggle – 1.2260 lows were tested yesterday, back to 1.2325. Overnight Fed’s Kashkari : Reiterates confidence that inflation will return to Fed’s 2.0% target & Fed’s Bostic: 50 bps hike was an aggressive move, Fed can stay at that pace, 75 bps rate hike is low probability. Today – German ZEW, Speeches from Fed’s Williams, Waller, Bostic, Barkin, Kashkari, Mester, ECB’s de Guindos & BoE’s Saunders, Earnings from Bayer, Porsche, Norwegian Cruise Line & Warner Music. Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.35%) Rallied from lows at 89.70 to over 91.20 highs (resistance) today. MAs aligning higher, MACD signal line & histogram moving higher but remain weak, RSI 44, but rising, H1 ATR 0.33, Daily ATR 1.60. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HFMarkets 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 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.

Date : 9th May 2022. Market Update – May 9 – USD dominance rips through every market on FED. Monday Markets Blues Can the cause sometimes take place after the effect? This is what looks to be the case this week. The USD surged to 2001 and has been bought and fixed income sold on ideas that the Fed had taken a hawkish turn, with investors searching for safety. The hikes will be front-loaded with the next 50 bp hikes discounted for the next two meetings (June and July) and a strong leaning for the same in September (~66%). Yields 10-year is up 1.0 bp at 3.14%. Stock markets are broadly lower, with Japanese markets underperforming and the Nikkei down -2.5%. Tighter Covid lockdowns in Beijing and Shanghai raised pressure on its economy, while China reported faster-than-expected growth in exports for April, while imports were flat. Meanwhile in the market, speculation that President Putin might declare war on Ukraine in order to call up reserves during his speech at “Victory Day” celebrations could further hurt market sentiment. The week ahead is important because it may show the first signs that peak inflation is at hand. USDIndex above 104.10. Equities – Nikkei down -2.5%. The ASX closed with a loss of -1.2%, the CSI is currently down -1.4%, while Hong Kong was closed today. USA500 led the way with a drop of 1.1%, while USA100 shed 1.0%. Yields 10-year is up 1.0 bp at 3.14%, Australia’s long yield also continued to climb and the German 10-year rate is up 0.4 bp at 1.13% this morning. Oil back to 109, after EU and G7 mull Russian oil imports while Saudi Arabia cut prices for buyers in Asia as China’s lockdowns weigh on demand in the region. Gold drifted back to 1869 as it looks less attractive from the safety of USD, while elevated yields further weighed on prices. Bitcoin hammered! Gapped down to33,228. The start of a sharp technical fall ? FX markets – EURUSD is just over the 1.05 mark, AUD and NZD also struggled against the largely stronger USD. USDJPY climbed above the 131 mark and Cable is at a near 2-year low at currently 1.2259. Biggest FX Mover @ (06:30 GMT) USOIL (-2.17%) drifted to S1 at 108.15 in the EU open. MAs & Stochastics bearishly crossed, and RSI is at 41 sloping lower. H1 ATR 0.91, Daily ATR 4.43. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets 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 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.

Date : 6th May 2022. Market Update – May 6 – Massive U-turn ahead of NFP. The markets did a big U-turn after Wednesday’s post-FOMC rally, and the pop in rates hammered Wall Street. Along with positioning, the recent massive swings in the markets and mostly bearish tones have been fostered by escalating fears over inflation, an overly aggressive tightening path from the Fed, and increasing angst over slowing growth, in other words, “stagflation.” That potential was imbedded in the Q1 productivity report that revealed near record contraction in productivity as well as unit labour costs, leaving a hollow ring to Chair Powell’s beliefs that the Fed can tame inflation and that the economy can achieve a “softish” landing with a “significant chance” of avoiding a “significant slowdown, or a big jump in unemployment.” RBA flags further tightening ahead. The RBA said in its quarterly monetary policy report that it will need to raise interest rates further, against the background of tightening labour markets that risk triggering a wage price spiral. USDIndex at a 5th winning week – breached 103.95. Currently at 103.84 ahead of US jobs report that is likely to back the case for aggressive monetary policy tightening. Equities – was crushed by the revived hawkish outlook and the pop in yields. The USA100 dove over -5% but finished with a -4.99% decline. The USA500 tumbled -3.56%, with the USA30 -3.12% lower. Yields 10-year up 17 bps to 3.105%, with the 2-year up 10 bps to 2.738%. Oil climbed to 111.36 high, after the Biden administration outlined a plan to refill oil reserves (SPR). But it has dropped right back down to 109.34. Reportedly, the Department of Energy will put out a tender for 60 mln barrels in the fall, according to an unnamed source. But the purchases will be at some time in the future, which saw the price fall back. Having the government an assured buyer should provide some support. Meanwhile, the looming EU ban on Russian oil imports and the less hawkish than feared FOMC result have helped calm fears. There were no surprises from OPEC which stuck to its plan for a modest hike in output. Gold drifted back to 1866 as the USD and Treasury yields rallied. Bitcoin tumbled 8% overnight, hitting at 35,278. FX markets – EURUSD at 1.0508, USDJPY holds above the 130.50, Cable down to 1.2333. AUD turns below 0.7100. Biggest FX Mover @ (06:30 GMT) GBPCHF (-0.73%) declined in the EU open at 1.2157, with next support to 1.2114. MAs & Stochastics bearishly crossed, and RSI is at 36 sloping lower. H1 ATR 0.00169, Daily ATR 0.01081. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HF Markets 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 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.

Date : 2nd August 2021. Market Update – August 2 – USD consolidates at lows. Market News Today – USD up from 1-month lows (USDIndex 92.00 from 91.75 Friday) – Chinese & Asian stock markets rise, despite weak Chinese PMI & other Asian data. US equity markets closed lower on Friday (-0.54% USA500 4395) led by -7.56% fall for AMZN. Yields closed the week down at 1.239%. Overnight – HSBC beat earnings significantly, adding to good news from other European banks. AUD housing market still hot, JPY consumer confidence ticks up, German Retail sales bounce back significantly. Gold down again at 1808, USOil also down, but up from a test of 72.00, earlier. Week Ahead – Another key week to start the month – RBA, BoE, CAD Jobs, NFP & a raft of PMI data. European Open – DAX & FTSE 100 futures up 0.5% & 0.4% respectively, US futures posting gains of 0.5-0.6% after an upbeat session across Asia-Pacific region overnight. In FX markets both EUR & GBP little changed against USD, with EURUSD at 1.1873 & Cable at 1.3909. China jitters eased & there was some progress on the (much reduced) US infrastructure spending plan, which helped underpin sentiment. Virus developments in Asia continue to cause worries, but for Europe at least the hope is that advanced vaccination campaigns will allow economies to get through this wave without the type of restrictions that could seriously hurt the recovery. Central banks are cautious though as there are still lingering risks that will likely also keep the BoE in wait & see mode this week. Today – EU, UK, US Manufacturing PMI (Final), US ISM Manufacturing PMI Earnings: AXA, Heineken, Biggest FX Mover @ (06:30 GMT) AUDNZD (+0.19%) Has moved up from 1.0517 (2021 and 33 week lows) on Friday. Weak breach of 21 EMA earlier, Faster MA’s aligned higher, MACD signal line & histogram under 0 line but moving higher, RS 55, neutral but rising, Stochs rising and already into OB zone. H1 ATR 0.0008, Daily ATR 0.0051. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 30th July 2021. Market Update – July 30. Improved demand for risk boosted Wall Street overnight and weighed on Treasuries amid myriad crosscurrents. The markets are busy repositioning in the last week of July now that the Fed is safely out of the way with little likelihood for a tapering announcement until at least November. The miss on Q2 GDP was overlooked as inventories were the major culprit, while the surge in the price indicators to near 4-decade highs added to the pressure on bonds. The focus turned back to earnings, data, the Delta variant, and the infrastructure deal out of Washington. Good earnings news in general supported stocks with the USA30 and USA500 leading the way with gains of 0.4%, while the USA100 rose 0.1% as concerns over guidance from heavyweights, including Facebook and Paypal (beat earnings estimates, but guided lower), limited enthusiasm. Amazon’s online sales growth is slowing as lockdowns ease. Amazon’s core online store business disappointed, since it grew 15%, the slowest rate since 2019, despite it bringing forward its flagship Prime Day sales event to June. In Europe, GER30 and UK100 futures are also down -0.7% and -0.6% respectively. In FX markets: EUR and GBP corrected against a stronger USD, leaving EURUSD at 1.1877 and Cable at 1.3980. USDJPY lifted to 109.60, although the Yen was steady to higher versus most other currencies. USOIL is at $73.38 per barrel. Gold was little changed at $1,831. USOIL’s rally to 2-week highs over $73.20 on tight US supplies helped the CAD today as well. The market ignored the small uptick in Canada May average weekly earnings. USOIL stabilized at 72.60 today while PP is set at 72.45 and Resistance is at 73.00 and 73.30. Today: The calendar is busy and focuses on Q2 GDP numbers for the Eurozone and Germany, which is expected to show a strong rebound from the contraction in the first quarter, while preliminary HICP readings could come in higher than anticipated, after strong German numbers yesterday. US CPI is also on tap, and it should decline -0.8% in June following the -2.0% May drop. Spending is forecast rising 0.9% after the unchanged reading in May. Weakness should result in a -5.5% decline in “current transfer receipts” after an -11.7% May plunge, as this measure tracks the pull-back in stimulus spending. This will more than offset the 0.5% rise in compensation. The savings rate should fall to 10.8% from 12.4% in May and a 27.6% peak in March. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 29th July 2021. Market Update – July 29 – Equities gained on the back of a dovish FED. Narrow ranges prevailed across asset classes yesterday and there wasn’t too much of a reaction to yesterday’s Fed announcement. The Fed provided some buying impetus and both stocks and bonds closed with modest gains in tandem with Treasuries and Wall Street. Overnight, the Treasury yields lifted 0.3 bp to 1.24% as Chinese shares led a broad rebound in Asian stock markets. Like the ECB, the Fed signalled progress on the recovery, but also effectively signalled a cautious wait and see stance over the summer.– The FOMC signalled patience on tapering. Chinese officials stepped up efforts to reassure investors, with state run media questioning whether the correction in equities was overdone and reports suggesting China will continue to allow local firms to go public in the US. China’s central bank boosted cash injections by adding 30 billion Yuan. Australia import and export prices came in higher than anticipated, which left local bonds paring earlier gains. Topixand JPN225 are currently up 0.2% and 0.6%. GER30and UK100 futures are down -0.1% though and US futures narrowly mixed, as investors wait for US GDP data. Weekly US inventory data showed a 4.1 mln barrel draw on stockpiles, more than the median forecast for a 3.43 mln draw. A Reuters reporthighlights analysts are expecting a quicker-than-is-being-anticipated plateau in summer oil demand across the northern hemisphere due to the impact of new restrictions in the face of the Delta variant driven spike in new Covid cases. Proposed US infrastructure deallooks to higher taxes on crypto for part of the funding. Pfizer Inc. in Q2 2021 jumped 92% on the year to $19 billion, exceeding analyst expectations. Nissan Motor and some semiconductor firms (Advantest, Screen Holdings, TDK) delivered surprisingly strong earnings. In FX markets: Both the EUR and the Pound have moved higher against a largely weaker USD, with EURUSD now at 1.1863 and Cable at 1.3936. USDJPY dropped back to 109.66. USOIL meanwhile is trading at $72.20 per barrel. Gold prices spiked to 1819 as the US Federal Reserve chairman struck a dovish tone after the policy meeting. Today: The European calendar is busy today with German HICP inflation and labour market data alongside the Eurozone ESI economic confidence reading. Markets are also waiting for US GDP data. Biggest FX Mover @ (06:30 GMT) XAUUSD (+0.72%) – Spiked to 1819.81 breaking 20-, 50- and 200-day EMA. Currently the fast MAs are still aligned higher as MACD signal line & histogram point northwards and RSI extended to 71.60 suggesting that the positive bias increases. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 28th July 2021. Market Update – July 28 – Risk aversion ahead of FED. LONDON “It is not China’s aggressive foreign policy that is the source of the disturbance in the capital markets, but its aggressiveness at home as it asserts over control parts of the tech sector and toughens its anti-trust efforts.” – Marc Chandler Treasuries have led European bonds higher, as stock markets remain cautious ahead of the FOMC announcement. Risk aversion continues to dominate as virus developments cloud over the outlook for growth in the second quarter. Also, China’s regulatory clampdown spooks investors. The delta variant is keeping central banks in wait and see mode for now although the more hawkish camps are likely to push for a discussion on tapering after the summer – at least in the central scenario. BoJ’s summary of opinions also highlighted the need for ongoing caution with regard to tightening. Earnings reports have actually been better than expected on the whole. – GER30 and UK100 futures are still down -0.2%, US futures also slightly lower. Australia bonds rallied despite a spike in CPI inflation to 3.8% y/y in the second quarter. German GfK consumer confidence held steady in the advance reading for August, against expectations for a further marked improvement. US reports revealed a modest under-performance for the durable goods figures and another robust round of home price gains. For durables, the June data were modestly disappointing, but most May metrics were revised upward, leaving only a slight disappointment. In FX markets: The USDIndex lifted out of a 13-day low, while EURUSD concurrently ebbed back towards the 1.1800 level, down from yesterday’s 13-day high at 1.1841. The Dollar remained comparatively softer versus the Pound, which rallied across-the-board yesterday as markets reacted to the sharp drop in Covid cases and the IMF’s sharp upward revision in its UK growth forecast for 2021, which, to recap, it expects at 7.0% and would mark the joint fastest growth out of the major advanced economies. Cable settled just off Tuesday’s 13-day peak at 1.3895. AUDUSD was heavy, AUDJPY also managed to hold above its Tuesday lows after a sharp decline yesterday and USDCAD ebbed back to the upper 1.2500s after yesterday’s short-lived foray above 1.2600, which left Friday’s peak at 1.2608 unchallenged. Biggest FX Mover @ (06:30 GMT) CADCHF(+0.57%) – Spiked to 0.7280 from 0.7245, breaking PP. Currently the fast MAs are flattened, MACD signal line & histogram under 0 line, and RSI is at 46 and moving lower with all suggesting that the spike was limited and a pullback could be seen. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 23rd July 2021. Market Update – July 23 – USD & Equities move higher. Market News Today – USD dipped following ECB & weak US data but has recovered as USDIndex eyes 93.00 again & a “Golden Cross”. EUR 1.1770, JPY 110.30, Cable 1.3750. Equities struggled but ended up, USA500 (+0.20%), Strong Earnings #TWTR. Yields held gains 1.265%. Virus concerns continue to weigh, US Republicans now encouraging vaccinations. USOil breached & broke $70.00, Gold back over $1800. Overnight – JPY closed until Monday, shares in Asia struggled to follow US higher, AUD PMI data at 14-mth lows (50% of popn. in lockdown) & UK Retail Sales data beat as restrictions continue to ease and football was supposed to come Home. ECB – Negative Rates Are Here to Stay – ECB tweaked its rate guidance yesterday which resulted in an even stronger signal that the bank expects this year’s inflation overshoot to be temporary. The marginally higher inflation target & refined hurdles for rate hikes have pushed an exit from negative rates even further into the future, but doesn’t necessarily clarify the outlook on asset purchases & PEPP. The focus on the forward guidance may actually signal a shift back from asset purchase targets to rates as the main signal for the ECB’s policy stance. European Open – The September 10-year Bund future is down -3 ticks, Treasury futures are slightly underperforming. DAX and FTSE 100 futures meanwhile are up 0.3% and US futures are posting similar gains. The ECB’s affirmation of its ultra-accommodative policy stance and the strengthening of the guidance on rates should continue to keep sentiment underpinned. ECB’s Villeroy also stressed this morning that it was perfectly justified to stick with accommodative settings for now, but also indicated that the central bank will look at asset purchases again in September. For now though virus developments and the rapid spread of the Delta variant is likely to keep a lid on growth optimism. Today – Flash Eurozone, UK & US PMIs, CBR Rate Decision, Canadian Retail Sales. Earnings from Danske Bank, American Express and Honeywell. Biggest FX Mover @ (06:30 GMT) NZDCHF (+0.21%) 4th day of big move from lows of 0.6330 on Tuesday, to test 20-Day MA (0.6417) today. Breached 21EMA yesterday, faster MAs aligned higher, RSI 59 and rising, MACD signal line & histogram rising & significantly above 0 line. H1 ATR 0.0008, Daily ATR 0.0064. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 26th July 2021. Market Update – July 26 – Chinese Regulators weigh on sentiment. Market News Today – USD dipped in early week trades (USDIndex 92.80 from over 93.00 on Friday) – Chinese & HK stock markets sank on more talk of regulation tightening. US equity markets traded at ATH’s again on Friday (USA500 +1%) on strong Earnings and expectations. Yields closed the week at 1.28. USD remains bid overall but softer this morning. Overnight – JPY CPI was a tick firmer, although Manu. PMI’s were weaker. Chinese PMI’s missed over the weekend and added to weaker Asian markets to start the big week ahead. Gold holds at 1807, from 1798 and USOil is down to 70.40 from 71.60. Week Ahead – Rather significant – We have the FED, US GDP and PCE. A massive week ahead for US stock markets too – one third (30%+) of the S&P500 report 2Q Earnings including TSLA (today) APPL, AMZN, FB, & Alphabet & MSFT…over 20% of companies have reported already and 88% have beat (much improved from Q1) expectations. European Open – The September 10-year Bund future is up 27 ticks at 176.08, Treasury futures are also moving higher, with the Ultra Bond outperforming, as stock market sentiment is hit by concern that the Delta variant will delay the recovery mounting worries over the impact of China’s clampdown on the tech sector. China and Hong Kong bourses sold off sharply overnight and DAX and FTSE 100 futures are currently down -0.5%, while a -0.5% decline in the Dow Jones is leading U.S. futures lower. In FX markets EURUSD is at 1.1779, USDJPY at 110.17 from 110.55 earlier and Cable at 1.3751. Today – German Ifo, BoE and US supply and earnings from Tesla, LockheedMartin, Hasbro and Logitech. Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.53%) Big move lower for the key risk-off pair, on Chinese tightening and JPY data. Dived from 81.50, under 20 MA, Faster MA’s aligned lower, MACD signal line & histogram under 0 line and moving loer, RS 31 and moving lower testing OS zone, Stochs weak and already OS. H1 ATR 0.117, Daily ATR 0.842. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 23rd July 2021. Market Update – July 23 – USD & Equities move higher. Market News Today – USD dipped following ECB & weak US data but has recovered as USDIndex eyes 93.00 again & a “Golden Cross”. EUR 1.1770, JPY 110.30, Cable 1.3750. Equities struggled but ended up, USA500 (+0.20%), Strong Earnings #TWTR. Yields held gains 1.265%. Virus concerns continue to weigh, US Republicans now encouraging vaccinations. USOil breached & broke $70.00, Gold back over $1800. Overnight – JPY closed until Monday, shares in Asia struggled to follow US higher, AUD PMI data at 14-mth lows (50% of popn. in lockdown) & UK Retail Sales data beat as restrictions continue to ease and football was supposed to come Home. ECB – Negative Rates Are Here to Stay – ECB tweaked its rate guidance yesterday which resulted in an even stronger signal that the bank expects this year’s inflation overshoot to be temporary. The marginally higher inflation target & refined hurdles for rate hikes have pushed an exit from negative rates even further into the future, but doesn’t necessarily clarify the outlook on asset purchases & PEPP. The focus on the forward guidance may actually signal a shift back from asset purchase targets to rates as the main signal for the ECB’s policy stance. European Open – The September 10-year Bund future is down -3 ticks, Treasury futures are slightly underperforming. DAX and FTSE 100 futures meanwhile are up 0.3% and US futures are posting similar gains. The ECB’s affirmation of its ultra-accommodative policy stance and the strengthening of the guidance on rates should continue to keep sentiment underpinned. ECB’s Villeroy also stressed this morning that it was perfectly justified to stick with accommodative settings for now, but also indicated that the central bank will look at asset purchases again in September. For now though virus developments and the rapid spread of the Delta variant is likely to keep a lid on growth optimism. Today – Flash Eurozone, UK & US PMIs, CBR Rate Decision, Canadian Retail Sales. Earnings from Danske Bank, American Express and Honeywell. Biggest FX Mover @ (06:30 GMT) NZDCHF (+0.21%) 4th day of big move from lows of 0.6330 on Tuesday, to test 20-Day MA (0.6417) today. Breached 21EMA yesterday, faster MAs aligned higher, RSI 59 and rising, MACD signal line & histogram rising & significantly above 0 line. H1 ATR 0.0008, Daily ATR 0.0064. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 22nd July 2021. Market Update – July 22 – USD cools as risk aversion slides. Trading Leveraged Products is risky Market News Today – USD dipped from 3-mth highs, USDIndex down (from 93.18 to 92.80) as Equities bounce back, recovering all of Monday’s fall on the back of strong Earnings (+0.8% & VIX back to 20.00). Yields recovered to 1.28% (20yr auction filled at 1.89%). Virus concerns continue to weigh. OIL Inventories +2.4m vs -4.6m expected, USOil futures touched $70.00, Gold back under $1800. Overnight – JPY closed until Monday, shares in Asia struggled to follow US higher, AUD trade & Confidence data mixed. (50% of popn. remain in lockdown). European Open – DAX and FTSE 100 futures are up 0.3% and 0.2% respectively, U.S. futures are also slightly higher, so the positive momentum that dominated yesterday’s session remains in place, albeit with a slightly more cautious tone to start the day. In FX markets EURUSD is little changed at 1.1793, Cable at 1.3719. Earnings reports helped to underpin stock market sentiment on Wednesday and company news will remain in focus today, but for the Eurozone the main item on the agenda is the ECB policy meeting. ECB Preview – The central bank is expected to keep overall settings unchanged, but Lagarde has hinted that the forward guidance will be tweaked following the change in the inflation target and markets are hoping for a commitment to ongoing support beyond the immediate crisis phase. So the meeting is now of more significance and LIVE…. Today – The ECB policy announcement, US Weekly Claims & EZ consumer confidence and Earnings from Abbot Labs, Blackstone, AT&T, Intel, Snap & Twitter. Biggest FX Mover @ (06:30 GMT) AUDCAD (+0.35%). Bounced from 13-mth low at 0.9216 yesterday to 0.9267 highs earlier. Breached 21EMA earlier, faster MAs aligned higher, RSI 53 and rising, MACD signal line & histogram rising but significantly below 0 line. H1 ATR 0.0010, Daily ATR 0.0061. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 20th July 2021. Risk sensitive assets plummet on recovery fears! Risk off trades continued to dominate the Asian part of the session, but there are signs of stabilisation. Stocks declined as fears that the rapid spread of the Delta variant will delay re-openings and force extended lockdowns in countries with lower vaccination rates continue to fuel risk aversion. Investors will be keeping a very close eye on virus developments, but speculation that market developments will delay central bank tapering plans should put a floor under markets that have corrected from very high levels. Today, in the Asia session and on European open: Bond markets continued to play catch up with the sharp rally in Treasuries yesterday. Australia’s 10-year rate is down -6.2 bp , New Zealand’s has corrected -7.8 bp and China’s 10-year bond is -1.5 bp richer. Japan’s CPI rate nudged higher in June, with core lifting to 0.2%. Data are not expected to change the course of the BoJ. Developer Evergrande slumped after local authorities halted some of its sales. US futures are down and in cash markets the 10-year Treasury rate has lifted 1.1 bp to 1.200%. – Currently the USA100 has rebounded with 0.4% gains. September 10-year Bund future is little changed. – GER30 and UK100 futures are up 0.3% and 0.2% respectively. German PPI inflation lifted to 8.5% y/y in June – remains mainly driven by developments in commodity prices. RBA minutes: Strengthen rather than taper QE as stock markets continue to sell off. In Australia, nearly half the country’s 25 million people are living under lockdowns to quell an outbreak of the Delta variant. US yield curve continues to steepen. JPMorgan’s HuiP: “reflects reduced inflation expectations if reopening is delayed and potential downside risk to the economy, but that value and cyclical sectors should continue to outperform over the next 6-12 months given the ongoing recovery globally.” Today’s data calendar in Europe and the US remains pretty quiet, with US housing starts, while neither German PPI nor Eurozone current account numbers are likely to change the outlook much. FX markets: In FX markets the USD remained supported by safe haven bids and EURUSD dipped to 1.1773, while GBPUSD is at 1.3647 crossing the 200-day SMA. Safe-harbour currencies like the JPY and USD traded near multi-month highs against the riskier AUD, NZD and GBP. USDJPY is little changed at 109.35-109.60. USOIL prices stabilised at 66.50. Key mover: USOIL – Oil prices stabilised on Tuesday after slumping around 7%. The aggressive selloff of USOIL was fueled by worries about future demand and after an OPEC+ agreement to increase supply. The contract for August, which expires later on today, was up 15% at $66.57 a barrel. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 19th July 2021. Sharp selloffs on European Open. Wall Street losses persisted through the Friday session, with the major indices all ending lower. Stocks got a brief boost from the stronger US retail sales data, though the dive in consumer sentiment, including upped inflation concerns, took the wind out of the rally’s sails. Today, in the Asia session and on European open: The 10-year Treasury yield was down and bonds were also supported, with Australia’s 10-year down -4.4 bp at 1.233%, as stocks were hit by growth concerns. The September 10-year Bund future is up 42 ticks at 175.29, outperforming versus Treasury futures. GER30 and FTSE 100 futures are down -0.6% and -0.8% respectively. Reuters – Japan kept the overall assessment of its economy unchanged for a second straight month in July, retaining the view that conditions remain severe due to the impact of the coronavirus pandemic. Tech stocks struggled. – China’s crackdown on Tech giants Alibaba, Baidu, JD.com and Pinduoduo extending low amid new anti-monopoly and data security rules in China. Reports of issues with Japan’s supply chain have been noted, with suppliers in countries such as Malaysia, Thailand and Vietnam falling behind on production due to Covid shutdowns. Zoom Video Communications Inc ZM.O, the videoconferencing service that became a household name globally during the pandemic, plans to parlay some of the resulting rise in its share price into a $14.7 billion acquisition to secure growth. Oil prices declined on oversupply worries – OPEC and its allies agreed to ease output restrictions and supply cuts, including Russia which agreed new production allocations and a gradual phasing out of supply cuts, that will increase supply by around 400K barrels. Focus will remain on the Covid spread around the region with the Delta variant continuing to cause worries. FX markets: In FX markets the Yen was supported by safe haven demand, and USDJPY dropped back to 109.84, although the Dollar climbed against most other currencies. EURUSD is little changed at 1.1803, while Cable dropped to 1.3746. AUD hit its lowest level in 2021, at 0.7372. USOIL stayed at the $70.60-$71.60 barrier. Gold edged higher, lifted by a retreat in US Treasury yields and concerns that a surge in coronavirus cases could dampen global economic recovery, though an uptick in the Dollar limited the safe-haven metal’s appeal. Today – The calendar is pretty empty to start the week, hence growth concerns are dominating and developments will add to expectations that the ECB will strengthen the dovish tone of the forward guidance at Thursday’s council meeting. Biggest mover @ (8:30 GMT) CADJPY (-0.66%). The Yen was supported by safe haven demand, while CAD dips on USOIL weakness. An aggressive selloff of CADJPY broke all Support levels for the day with next Support at 86 and 200-day SMA at 85.78. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 16th July 2021. Market Update – July 16 – Stocks stalled. Curve-flattening trades pressed longer dated Treasury rates lower again Thursday after Fed Chair Powell did not change his tune regarding the view on inflation; that it should be temporary, & that an accommodative stance is still necessary. The curve collapsed to 108 bps, having retreated from 116 bps early in the week. It was the narrowest since February . Elsewhere BoJ did the expected & kept policy settings unchanged for now, but cut back its growth forecast for this year. JPN225 share average dipped below the psychologically key 28,000 mark as tech shares tracked declines on Wall Street overnight, while a continued surge in coronavirus infections dented investor sentiment. Weakness in chip-related shares also helped bring down USA500 & USA100. European stock markets struggled yesterday, Gilts sold off & Bunds pared gains as BoE’s Saunders added to comments from Deputy Governor Ramsden suggesting asset purchases may have to end earlier than previously expected. At the same time, the Delta variant & concern over the fallout from recent devastating floods in Germany could also weigh on the GER30 today. Mixed earnings, uncertainties over inflation & Covid, along with current richly priced valuations prompted some profit taking. FX markets: EURUSD dropped to 1.1806, while GBPUSD eased to 1.3810. NZD up 0.6% at $0.7020 after consumer prices rose far faster than expected, bringing forward markets’ rate hike expectations to August. USOIL stayed under pressure drifting below $71.00 barrier. Gold on the other hand hit a 1-month high of $1,834.3, supported by a dovish Fed. Today – Eurozone May trade & June CPI. US releases include Retail Sales & Michigan Index. Biggest FX Mover @ (07:00 GMT) NZDJPY (+0.88%). NZD remains the biggest mover amongst majors in the Asia session, & so far, however the rally seems to have run out of steam as fast MAs flattened along with RSI at 55. MACD’s signal line remains negative while Stochastics gives mixed signals at OB area. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 15th July 2021. Market Update – July 15 -“Don’t worry about it”. September 10-year Bund future rallied with Treasury futures overnight & in cash markets the US 10-yr rate corrected a further -1.3 bp to 1.33%. Υields also dropped in Australia & New Zealand, with the former outperforming despite a drop in the unemployment rate to just 4.9% – the lowest in 10 years. EGBs also ended higher yesterday after Fed Chairman Powell calmed nerves on the inflation front & managed to ease fears the Fed will move earlier than expected on tapering- Tapering is still “a ways off.” The BoC left rates unchanged, as expected, while cutting its weekly QE purchases by C$1.0 bln, also as expected. The BoC statement left forward guidance unchanged from the previous meeting, though did downgrade 2021 GDP modestly while upping growth expectations for 2022. BoE’s Bailey & ECB’s Schnabel were also out to calm nerves, with Bailey highlighting the central bank will need to assess the transitory factors that are driving headline rates at the moment, though comments from Ramsden sounded more cautious on inflation risks – no rush on rate decision. Asia stock markets traded mixed after today’s round of growth data out of China. China Q2 GDP growth slightly weaker than expected at 7.9%. UK ILO unemployment rate unexpectedly lifted to 4.8% in the three months to May and pick up in employment fell short of expectations at just 25K. Earnings: BOA shares fell after revenue declined from a year earlier because of a 6% drop in net interest income due to lower interest rates. Citigroup beat analysts’ estimates for profit, thanks to a $1.1 billion boost from releasing reserves the bank had previously set aside for loan losses. Wells Fargo posted Q2 profit of $1.38 a share as revenue jumped 11% from a year earlier to $20.3 billion, soundly beating Wall Street’s expectations despite weak demand for loans. BlackRock’s assets under management jumped to a record $9.49 trillion in Q2 from $7.32 trillion a year earlier. FX markets: USD steady to weaker, with USDJPY at 109.74. EUR & GBP lifted against a weaker USD, though EURUSD is at 1.1846 & Cable below 1.3865. USOIL dips to $71.44 per barrel – the combination of a reported production agreement between Saudi Arabia and the UAE, allowing the Emirates to pump more oil in 2022, combined with an unexpected weekly rise in US fuel supplies, has weighed on prices. Gold topped at 1,832 (50% Fib). Today – Fed Chair Powell’s testimony day 2 and Jobless claims. Biggest FX Mover @ (07:00 GMT) EURCAD (+0.27%). CAD headed lower, despite the taper move, in what appeared to be a case of sell the rumor, buy the news. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 14th July 2021. Market Update – July 14 – Central banks are gearing up!. Q2 earnings got off to a lackluster start Tuesday. Hefty earnings beats from JPM & Goldman Sachs were overshadowed by concerns over revenues& as a lot of the strength was on easy comps. US: A much hotter than expected CPI print & very poorly bid 30-yr bond auction were a potent combination for a Treasuries selloff. The combo also left Wall Street heavy. June CPI surged 0.9% on both headline & core, more than double the estimate for the overall index & 3x the forecast for the ex-food & energy component. For the former it was the biggest jump since June 2008, while for the latter it tied for the largest since late 1981. Asia: Bonds across the Asia-Pacific region were under pressure though & New Zealand’s 10-yr rate spiked 7.3 bp to 1.73% after the RBNZ unexpectedly decided to end large scale asset purchases by July 23. Stock markets mostly struggled, though the ASX managed to lift 0.4%, despite extended virus restrictions in some parts. JPN225 is -0.3%. The NZX 50 is down -0.5%. UK CPI inflation unexpectedly jumped to 2.5% y/y from 2.1% y/y in the previous month. A strong round of numbers, even if PPI readings show a slight deceleration in price pressures. The official BoE line has been that inflation overshoots will be transitory, but after today’s round of higher than expected numbers, labour market data later in the week will be watched very carefully. Fed Chair Powell testimony preview: Chair Powell goes to Capitol Hill for his semi-annual Monetary Policy Report (aka Humphrey Hawkins) & his comments will be especially scrutinized after another hefty CPI jump. However, while he will likely indicate that price pressures have been above Fed expectations, we expect him to reiterate the price pressures should be “transitory” & largely a function of base effects & the supply/demand impacts from reopenings & supply chain constraints. He will also repeat that the FOMC is not yet ready to begin withdrawing accommodation as the labor market has yet to fully recover. And he won’t give a timeline on QE unwinding. FX markets: GER30 & UK100 are down -0.1% & -0.007% respectively, while US futures are still narrowly mixed, with the USA100 future outperforming. NZD rallied in the wake of the hawkish turn at the RBNZ. USD is steady to weaker, with USDJPY at 110.53. EUR & GBP lifted against a largely weaker USD, although EURUSD remains below 1.18 & Cable below 1.39. USOIL meanwhile is at $75.06 per barrel. Today – Data releases today focus on US June PPI, BoC Monetary Policy & Press Conference & the first day Testimony from Fed Chair Powell. The earnings calendar includes BOA, Wells Fargo, Citigroup and Blackrock. Central banks are likely to gradually reduce the extraordinary degree of stimulus later in the year, but monetary policy will remain accommodative for a long time to come which should see economies through virus setbacks. Biggest FX Mover @ (07:00 GMT) NZDUSD (+1.20%). Kiwi spiked to 0.7030 following the RBNZ’s unexpected move. Momentum indicators are still positively configured with exception of Stochastics which flattened into the OB area implying a potential sideways move. Fast MAs aligned higher. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.

Date : 13th July 2021. Market Update – July 12 – A cautious start for equities. IN THE SPOTLIGHT: WELLS FARGO, BANK OF AMERICA, CITIGROUP, BLACKROCK This week the key Q2 Earnings season kicks off in earnest, with many of the major US banks reporting and expected to massively beat consensus, something that could please the bulls. But will this be the case? And if yes, then what? Wall Street has remained in rally mode and at record highs, ahead of what is expected to be a strong Q2 earnings season. As the chief investment strategist at CFRA Research, Sam Stovall, told CNBC’s Trading Nation on Friday: “I think what we’re going to be seeing is the second-best year-on-year quarterly gain in the last 25 years, second only to what we saw in the fourth quarter of 2009, since USA500 earnings are expected to be almost 61% this quarter”. Q2 earnings are seen as key for setting the tone of company performances as the spread of the Delta Covid variant will likely continue, with countries like the Netherlands reporting an 800% increase in cases over the past week, hence fears that economic growth could plateau, and slowing vaccination rates globally keeping investors cautious over high valuations. Overall the US equity markets notched further all-time highs with a strong close yesterday as strong economic data keeps recovery hopes alive. The Financial sector has been a major beneficiary of the “reflation” trade since last year and the Stimulus Bill and the Infrastructure Bill, which also benefited and could continue benefiting the banking sector in particular. So far the financial sector posted 34.5% earnings growth in the first Quarter of 2021 while Q2 is projected an amazing 117% earnings per share growth for Financials in Q2, according to research firm FactSet. That’s the 3rd highest projection FactSet has on a sector basis. A key concern is a potential decline in “special purpose acquisition companies” (SPACs) activity during Q2 might also have hurt the sector. Hence following the JPMorgan Chase and Goldman Sachs report today, Wednesday has Bank of America, Wells Fargo, Citigroup, BlackRock, Infosys, PNC Financial, and Delta Airlines. The Bank of America (#BankofAmerica OR BOA) consensus recommendation is “Buy”, as revenues are expected to beat as earnings are likely to exceed according to the majority of the consensus recommendations from the Eikon Reuters terminal. According to Reuters Eikon Research, the report for the fiscal Quarter ending June 2021 is expected to experience a near quarter rally of its Earnings Per Share (EPS) compared to last year, at $0.77 from $0.37, which implies a mean change of 0.41% and a year-over-year growth of 107.9%. Zacks Investment Research predicts similar EPS, while the company’s revenue is seen depreciating slightly from a year ago to $21.83 billion, down by 2.16% on a yearly basis. Please note that BOA, the nation’s second-largest bank, has surpassed earnings forecasts in the last two quarters due to strong growth in its sales & trading and investment banking businesses, regardless the company’s revenues have dropped since 2020 due to net interest income decrease. The net interest income, which contributes more than 50% of the total revenues, was down due to the interest rate headwinds and lower new loan issuance. Further, the same factors are likely to continue supporting solid growth for the bank’s sales, trading and investment banking for the rest of the year but the interest rates are likely to remain low on the resurgence of rising Covid-19 cases. In regards to Citigroup now, things are similar to BOA as the bank is expected to post a beat on Earning ESP but a slowdown on consumer banking revenues. Similar to Q1 2021, the factors that are anticipated to affect the financial report for Q2 are: Low Consumer Banking Revenues: Lower credit card loans as credit card holders are now paying back their loans at faster rates based on abundant liquidity and government aid, resulting in delays or even preventing lending volumes. Slip of Trading Revenue: After a jump in trading activity and underwriting deal volumes since 2020, management forecasted a decline in Q2 2021. Lower fixed-income revenues are anticipated to have been an undermining factor for bank’s earnings. Slip of Investment Banking Revenue: On the one hand, more M&A deals implies rising advisor fees from Citigroup, something that is expected to be a strengthening factor. However on the flipside, a decline in investment banking revenues is a risk for the bank. Net Interest Income Decline: another undermining factor for Revenue similar to BOA. Expenses Rise: Q2 expenses will likely rise to $11.2 billion. Asset Quality to Improve Hence Citigroup is expected to report adjusted earnings of $1.96, in comparison with the $0.50 EPS reported for the same quarter last year. The revenue is seen at $17.20 billion, according to Eikon group analysts estimates, nearly 11% lower than Q1 2021. From a technical perspective, whatever the outcomes are, much is anticipated from the numbers of Bank of America and Citigroup, as both banks are expected to outperform the consensus estimates for earnings, even though revenues are likely to fall short of expectations. Both banks remain technically Bullish in the medium term, trading north of their respective 20- and 50-week EMAs, even though a strong pullback has been seen in June. Today #Citigroup is at the $69 area, stabilising the past 5 weeks above the 50-week EMA finding a support at the $65.80 level suggesting that the correction might run out of steam. #BankofAmerica is at $40.59, above the double bottom seen at $38.47 as positively configured momentum indicators suggest that the outlook remains positive. Finally, Wells Fargo and Blackrock, which are the fourth and fifth largest US banks, are expected to slate strong Q2 earnings reports, after the first posted its first loss since the global financial crisis of 2008 and the latter has a solid history of beating earnings estimates while it is well seated to hold a positive trend in its Q2 report. Wells Fargo could post an EPS of $0.97 and revenues of $17.75 billion. The #Wells Fargo price sustains a move above the 20-week SMA for a 2nd week in a row, after the rebound from the $41 low. Momentum indicators and their positive to neutral configuration along with the sustained a move with a 1-year upward channel imply a positive medium term outlook for the stock price. Blackrock on the other hand, in contrast with the other 3, has had a remarkably strong performance since March 2020 without a notable pullback on stock price in 2021, while it is currently trading at record highs. According to Eikon Reuters, the world’s largest asset manager is expected to report adjusted earnings of $9.36, in comparison with the $7.85 EPS reported for the same quarter last year. The revenue is seen at $4.605 billion, according to Eikon group analysts estimates, which is more than 25% growth since Q2 2020. Hence a beat of estimates could boost the stock to fresh all time highs. Nevertheless, the US bank stocks have enjoyed a strong rally in 2021, clearly seen from US major indices such as USA30 which is up 92% since the 2020 bottom and up 33%YTD, due to the continued boost from massive stimulus packages, positive vaccination rollout, and the accomodative Fed’s policy. Based on Refinitiv estimates, together, Wells Fargo, Bank of America, Citigroup and JPMorgan are anticipated to report profits of $24 billion in Q2 2021, up significantly from the $6 billion seen last year. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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. 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Date : 7th July 2021. Market Update – July 7 – Yields drive markets lower, USD Consolidates. Market News Today – USD consolidates on safe-haven bid, Bonds rallied/Yields dived, Nasdaq hit another ATH & Oil crashed. Chinese regulators flexed their muscles again & a surprise miss for ISM Services PMIs weighed on sentiment. Asian equities mixed. USDIndex up to 92.50, EUR slips to 1.1825, JPY holds under 111.00 at 110.70 & Cable tested under 1.3800. Gold holds $1800, down from $1814, USOil tanked from $77.00 to $72.00, trades at $72.90 now; what next for OPEC? 10yr yields dived to 1.348%. German industrial production dropped -0.3% vs expectations of +0.5%. Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting. European Open – The September 10-year Bund future is slightly lower, while U.S. futures have found support. In cash markets the U.S. 10-year yield has moved up from lows, but at 1.36% remains below the 1.4% mark, underpinning the sense that the Fed will be able to wait before embarking on tapering action. Investors will be looking ahead to today’s release of the FOMC minutes for the June policy meeting, which could give a clearer sense on how far advanced taper talks really are. In Europe, the focus today will be on the EU Commission’s updated set of forecasts, which are likely to be more optimistic on growth, but also bring upward revisions to inflation projections. DAX & FTSE Futures a tad higher in early trades. Today – EU Forecasts, FOMC Minutes, Fed’s Bostic. Biggest FX Mover @ (06:30 GMT) NZDJPY (+0.35%) Rallied from 77.30 lows yesterday to breach 77.50 to 77.80 highs. Faster MAs aligned higher, RSI 51.70 & rising, MACD signal line & histogram remain significantly below 0 line, but rising. H1 ATR 0.0015, Daily ATR 0.0065. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 6th July 2021. Market Update – July 6 – A weaker USD; RBA, OPEC & Kiwi hog the headlines. Market News Today – USD continued to weaken, strong EZ & UK data lifted European markets, England to lift most restrictions by July 19. OPEC meeting abandoned, OIL prices hit 3-year high (Brent $77+). Overnight RBA no change but bond purchases extended for 6 months but at lower rate, “conditions will not be met before 2024.” NZD rallied (1.14%) on strong data and 2021 interest rate rise expectations, dragging AUD higher (0.98%). Asian equities firmer. USDIndex under 92.00, EUR 1.1890, JPY under 111.00 at 110.75 & Cable tests up to 1.3900. Gold breaches $1800, USOil over $75.00 at $75.85. German manufacturing orders missed significantly (-3.7%) but previous reading was revised sharply higher (+1.2%). Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting. European Open – The September 10-year Bund future is slightly lower, as are US futures, while in cash markets the US 10-year rate has lifted 2.0 bp to 1.444%. Dax & FTSE100 FUTs are weaker on stronger GBP & EUR with German data weighing. Today – EZ & UK Construction PMI, German ZEW, US Final Services & Composite PMI, ISM Services PMI, ECB’s de Cos, de Guindos. Day 1 of the ECB Strategy Review meeting. Biggest FX Mover @ (06:30 GMT) NZDUSD (+1.06%) Rallied from 0.7020 zone yesterday, which was up from Fridays NFP low of 0.6945, to breach 0.7100 on very strong reversal in business confidence today. Faster MAs aligned higher, RSI 82.38 and significantly OB but cooling, MACD signal line and histogram rising remain significantly above 0 line. Stochs. also in OB zone, but also cooling. H1 ATR 0.0015 Daily ATR 0.0065. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 5th July 2021. Market Update – July 5 – USD subdued, Bonds leap & Stocks hold gains. Market News Today – The Dollar weakened, Bonds & Stocks rallied following NFP (850k vs 700k but an uptick for Unemployment & patchy Earnings) and ahead of long weekend. Asian markets follow through overnight – but big miss for Chinese Services PMI’s virus developments and China’s bid to curb the influence of internet giants quells the rally. Yields; the biggest driver – 10yr lost -3.31%, 5yr -4.77% & 30yr -1.97%. USDIndex holds 92.30, USA 500 4352. (Tech stocks lead rally (GOOGL+2.30%) Overnight AUD building approvals weaker but Retail Sales better. EUR 1.1855, JPY down to 111.00 & Cable tests up to 1.3835. Gold still rotates at $1785, USOil Holds over $74.00 at 74.35 as OPEC issues rumble on. Week Ahead – FOMC Minutes, RBA Rate Decision, ECB Growth Forecasts & Special Strategy Meeting. European Open – The September 10-year Bund future is fractionally higher, while in cash markets the 10-year Bund yield is unchanged at -0.24%. Other Eurozone bond markets are underperforming in early trade, while U.S. markets remain closed today for the observance of July 4 Independence Day. DAX and FTSE 100 futures are up 0.03% and 0.106% respectively, suggesting a cautious start to trading today. US Stock FUTS in the red so far. Today – OPEC developments continue as the UAE and Saudi disagree over quotas; – EZ & UK PMIs (Final) ECB speak and US Independence Day. Biggest Mover @ (06:30 GMT) Copper (+1.59%) Rallied from 4.222 lows on Friday to test 4.350 (20-day MA) today. Faster MAs aligned higher, RSI 73.50 OB but still rising, MACD signal line and histogram rising remain significantly above 0 line. Stochs rising and also in OB zone. H1 ATR 0.0150 Daily ATR 0.0950. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex 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 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.

Date : 2nd July 2021. Market Update – July 02. Wall Street was narrowly mixed again overnight, as investors sat on their hands ahead of the upcoming June jobs report. Data on ISM manufacturing, jobless claims, and construction spending was ignored in favor of the more crucial employment numbers on the horizon. Also yesterday, according to FT, the world’s leading economies have signed up to a plan to force multinational companies to pay a global minimum corporate tax rate of at least 15% following intense negotiations in Paris at the OECD. The historic agreement among 130 countries will ensure the largest companies, including Big Tech, pay at least $100bn a year more in taxes, with more of that money going to the countries where they do most of their business. The USA500 did manage another record high, with the USA30 in the green too as value shares were favored. The USA100 was largely flat. Stock markets in Japan and Australia managed to move slightly higher, though, while China bourses sold off with some commentators suggesting that the conclusion of the centennial celebrations for the Communist Party meant increased risks for markets. In Europe, core exchanges rose, with the UK100 adding 1.25%, and the GER30 rallying 0.47%. Comments from ECB’s Lagarde suggesting that the current cap on dividends and share buybacks for banks could be lifted at the end of September helped underpin sentiment. Also: Fed’s Harker (non-voter) backs tapering. ECB’s Weidmann backs symmetrical inflation target for the ECB. Dovish comments from BoE’s Bailey, who stuck to the view that inflation will be transitory, added support, although they didn’t prevent Gilts from underperforming versus Bunds, with the former up 1.4 bps to 0.728%, and the latter 0.7 bps higher at -0.203%. Hopes that the impact of the rapidly spreading Delta variant won’t prevent the projected re-opening of holiday travel, while also keeping central banks in supportive mode, helped peripheral stock and bond markets. Forex Market: USDIndex edged up to 92.60, and USDJPY is at 111.65, while the USOIL future is at $75.22per barrel. The Australian and NZ Dollars hold at Q4 2020 lows, while the EUR slipped to 1.1834 from 1.1888. Gold sustains gains at the 1779 area. As Soc Gen accurately notes, US 2y rates are driving the Dollar. “The challenge for the FX market is that with no rate on the cards for over 12 months, expectations about what the Fed will do are bound to move around with each and every major economic statistic. All eyes, then, are on payroll data and if they come in strong, the dollar bears are going to get squeezed.” Today’s Calendar – ECB’s Lagarde is scheduled to speak today, but likely to repeat the familiar line that the crisis is not over and support is still necessary. At the same time we will see US labor market data. US nonfarm payrolls preview: nonfarm payrolls are expected to rise 550k in June following increases of 559k in May and 278k in April as there continues to be a big gap between the strength in the recovery and the record high in job openings against the relatively slow return of workers amid various headwinds. We’re also forecasting a 35k jump in factory jobs. The work-week should hold steady at 34.9 while hours worked picks up 0.4%. The unemployment rate is seen dipping to 5.6%. Average hourly earnings are projected rising 0.2% as minimum wage workers have been slow to come back. However, the y/y wage gain should surge to 3.5% from 2.0%, with a big boost from base effects. Significant FX Mover @ (06:30 GMT) USDZAR(+0.54%) extending highs for 2 days in a row, above the June high and the 50% retracement level since the February downleg. MACD lines and RSI are positively configured. 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. Click HERE to access the full HotForex 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 HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 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.