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Date: 9th September 2024. Market Update – How Aggressively Might the Fed Cut Interest Rates? The August jobs data did not provide the clarity on the rate outlook that had been hoped and left the markets to their own devices. Concurrently, comments from Fed Governor Waller left the door open for an aggressive -50 bps cut after he said he favored front-loading policy action, but stressed only if appropriate. Asia & European Sessions: European & US equity markets open in the green, following a recent selloff due to weaker-than-expected US jobs data. Wall Street plunged on Friday, as the NASDAQ collapsed -2.55%, with the S&P 500 and Dow down -1.73% and 1.01%, respectively. Asian markets followed the global downturn, with stocks in Taiwan, Australia, and Japan experiencing declines. Nikkei dropped for a 5th consecutive day. Asia’s benchmark index fell to a 3-week low. Chinese stocks are on the brink of falling to the 5-year low seen in February due to weak earnings and economic recovery. The CSI 300 Index has fallen over 13% since its peak in May, reflecting ineffective policy efforts to revive the economy. Market pessimism in China is fueled by deflationary pressures, weak consumer demand, and a prolonged property slump. Economic experts suggest that unless there is a significant policy shift, bearish sentiment may persist. Japan: Q2 GDP was revised down to a 0.7% pace, bouncing from the -0.6% contraction in Q1. It ties Q2 2023 for the fastest pace of growth since the 1.3% rate in Q1 2023. The deflator was revised up to a 3.2% y/y rate from 3.0% y/y. BOJ: The data leave the door open for another BOJ hike down the road, though we suspect policymakers will be sidelined at the upcoming meeting on September 20 to further assess conditions. China CPI edged up to a 0.6% y/y rate in August. It is a seventh month in positive territory after four straight months of deflation (from October through January). Nevertheless, price weakness continues to reflect the slack in demand and the very sluggish growth pace in the economy. And even more serious, PPI plunged to -1.8% y/y in August from -0.8% y/y, the biggest drop since April. And producer prices have been in deflation since September 2022. While a September Fed rate cut is expected, uncertainty remains about the scale and frequency of future cuts. Financial Markets Performance: The USDindex slumped to 100.58 before bouncing to a 101.187 close. The USDJPY lifted to 143.21. The Yen corrected, which helped to limit the slide in the Nikkei. The EURUSD and Cable are lower, at currently 1.1059 and 1.31 respectively. Oil drifted to $66.67 before recovering slightly to $68.20. Oil marked its lowest close since 2021 after a deep weekly loss pushed futures near levels regarded as oversold, with the focus on weather risks (Storm in Mexico) and reports this week that may clarify the demand outlook. Gold tumbling between $2485-2500. Iron ore prices fell below $90 per ton for the first time since 2022. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 5th September 2024. US Jobs Vacancies Fall to 3-Year Low Pressuring The US Dollar! US Job Vacancies drop to their lowest level in more than 3 years. The US Dollar Index declines. The best performing currency of the week is the Japanese Yen. Investors are turning to the only Central Bank which is not going to cut rates in 2024. The possibility of a 50-basis point rate cut increases, but economists stick to their 0.25% predictions for now. Oil prices fall close to lowest levels of 2024. Shareholders expect lower oil prices to prompt a lower inflation rate over the next 2 months. USDJPY – JOLTS Job Data Points To Potential Larger Rate Cuts! The price of the US Dollar came under pressure from the latest US job vacancies figures which fell below expectations. US Job Vacancies dropped to their lowest level in more than 3 years. The US Dollar Index as a result fell 0.42% and continues to be the worst performing currency of the day this morning. The Japanese Yen is currently increasing 0.43% higher and is the day’s best performing currency. This ensures no conflict between the two currencies so far, but investors will need to ensure this trend continues while they trade. The July JOLTS job openings data was released today, revealing a decrease from 8.18 million to 7.67 million, signaling continued weakening in the labor market and raising the chances of a significant rate cut. Additionally, the Fed’s Beige Book economic review will be published later in the day, providing insight into the current economic conditions across different regions of the US. According to experts, the possibility of the Bank of Japan again increasing interest rates is growing but the timing is not yet certain. However, even without an interest rate hike, the Japanese Yen is likely to witness support as global banks cut rates. This includes the Federal Reserve, Bank of England and European Central Bank. During this morning’s Asian session, the Japanese Yen has risen in value against all currencies. Though, investors will monitor that this does not change as the European trading session starts. USDJPY – Technical Analysis Update In terms of technical analysis, the exchange rate on the daily timeframe is witnessing divergence and the volatility over 3 days is as much as we saw over the past week and a half. Therefore, the possibility of a retracement remains. However, on smaller time frames, momentum indicators continue to point towards the Japanese Yen gaining. Upcoming Events The price action throughout the remainder of the week will depend largely on the US Dollar. Today’s ISM Services PMI, ADP Employment Change and tomorrow’s official employment data will significantly influence the US Dollar and the USDJPY. Thereafter the market will turn their attention towards comments from members of the FOMC and the US inflation data. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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: 4th September 2024. Stocks Suffer Sharpest Drop Since August 5th, What’s Next? The stock market witnesses its worst session since August 5th. The NASDAQ drops more than 3.00% as 80% of its stocks decline. The VIX rises more than 5% indicating a low risk appetite as investors fear lower consumer demand and the unwinding of certain hedge positions. The price of the Japanese Yen increases in value for a second consecutive day. ISM PMI data improves but investors turn their attention to JOLTS Job Openings and NFP. NASDAQ (USA100) – 80% of Stocks Decline But Will Investors Buy The Dip? The NASDAQ is trading at its lowest price since August 13th after witnessing its worst trading day since August 5th. Throughout all 3 trading sessions the price of the index fell 3.40% and is now trading firmly below trend lines and neutral levels on Oscillators. The question now is whether the price is oversold and if investors are unwilling to trade at such high prices. The decline was not solely related to the NASDAQ, but the whole US stock market as well as global stocks. The NIKKEI225 fell a further 1.50% today and the DAX is due to open 0.60% lower. Simultaneously the VIX is trading higher for a third consecutive day. These are known to be indications of lower sentiment towards stocks. The decline came about due to the lower risk appetite, the unwinding of hedge positions which involved the Japanese Yen and fear of lower consumer demand. The index was also influenced by the higher PMI data from the ISM which indicated higher economic sentiment. As a result, a 50-basis point rate cut becomes less likely applying further pressure on the stock market. However, this will also depend on this week’s employment data and next week’s inflation rate. All of the 12 most influential stocks fell in value and of the top 50 influential only 7 ended the day at a higher price. The question now is whether investors will now look to purchase the lower price. This will largely depend on today’s JOLTs Job Openings which analysts expect to read slightly above 8 million. Ideally investors will want to see higher job openings in order to give them confidence the consumer demand will not fall. According to economists, even with a slightly higher figure, the Federal Reserve is still likely to cut interest rates. Since the opening of the European Cash Open, the VIX has slightly fallen and European stocks are attempting a rebound. This is also something traders will monitor because if the momentum continues it may indicate a different price movement, such as a correction. Nonetheless, this will still largely depend on today’s release. USD/JPY – Technical Analysis The Japanese Yen is the day’s best performing currency while the US Dollar is the worst performing currency. The USDJPY is also trading below the trend-line, 100-Period SMA and below the 50.00 level on the RSI. The exchange rate has also fallen below 144.904 which is a key level on the Fibonacci levels. The Institute for Supply Management reported that in August, the US Manufacturing PMI increased slightly from 46.8 to 47.2 points, but still signals a slowdown in the industry. This slowdown meets the Federal Reserve’s conditions for easing monetary policy. Many experts now expect the Fed to lower interest rates three times, by a total of 100 basis points, by the end of the year. If the day’s JOLTS Job Openings read lower than 8 million, the US Dollar can witness higher downward momentum. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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: 3rd September 2024. Gold Analysis: Will Gold Break Free from Its Current Price Range? Gold trades 16.00% higher in 2024 as economists predict the Federal Reserve will cut between 75 and 100-basis points. The price of Gold is at a clear trend line and rebounds at the opening of the European Trading Session. Economists advise that for Gold to continue to increase to $2,600 and above, the market would require the Federal Reserve to cut 1.00%. Gold (XAUUSD) – Will Gold Rise To $2,600? Gold has risen 16.00% so far in 2024, largely driven by the geopolitical tensions and fear of lower consumer demand, but primarily due to expectations of lower interest rates. Analysts expect the Federal Reserve to adjust the Federal Fund Rate by 0.75%. However, volatility will increase if the Fed opts to adjust at a faster or slower rate. According to economists, in order for Gold to increase up to $2,600-$2,700, the Federal Reserve will need to increase the size of the rate cuts. According to the CME Group, there is a 45% chance, the Fed will cut 1.00% by 2025. If this possibility increases throughout the week, the price of Gold is likely to decrease as the Dollar declines. In order for the Federal Reserve to become more dovish, the regulator would look for weaker employment data and lower inflation. Throughout the day, the price of Gold will depend on the price movement of the Dollar as well as the ISM PMI release at 14:00 GMT. However, another key release will be tomorrow’s JOLTS Job Openings. Analysts expect the job vacancies are likely to fall from 8.18 million to 8.09 million, one of the lowest in the past 2-years. If both the PMI data and job vacancies read lower, Gold will potentially increase in value. This is due to markets expecting a higher rate cut and weakening demand. Therefore, Gold will gain higher demand as an alternative to the Dollar and its safe haven status. Technical Analysis – Gold XAU/USD 10-Minute Chart on September 3rd On the 4-hour chart, investors can clearly see the price is forming a range between the $2,529 and $2,492 level. The asset has largely found support and resistance at these levels as the market believes the asset is trading at its intrinsic value. However, the upcoming employment and inflation data can potentially change the market pricing. As the price continues to attempt to break through the resistance level at $2,529, the resistance level is losing its psychological edge over buyers. This makes it easier to break through. On the 2-hour timeframe, the price is trading below the 75-Period EMA and 100-Period SMA. If the price rises above these levels, buy signals become more attractive. On the 10-Minute chart the asset has formed a bullish crossover and a higher high indicating bullish price movement. However, the price is overbought on the RSI. If the PMI data reads lower than expectations, the data will move hand in hand with the crossover signal. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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: 2nd September 2024. Is The Dow Jones Overpriced? The DJIA Declines On Monday! Markets expect US employment data to improve adding a further 160,000 employees to the country’s payroll. Analysts expect US Job vacancies to drop to their lowest level in 2024, but to remain at the 5-Year Average. According to the Chicago exchange, an interest rate cut on September 18th is certain. Markets expect a 0.25% rate cut. Strong gains on Friday evening saved the US Stock Market from witnessing another bearish close. Dow Jones (USA30) – Recurring Pattern On Friday, the stock market quickly fell at the opening of the US Session but thereafter the market quickly rose to close at a higher price. Investors should note that of the past 7 trading sessions, this has been a known pattern. Of the past 7 trading sessions the price has fallen at the open and then corrected on 5 occasions. A positive factor for the Dow Jones is the price is forming higher swing lows and is witnessing less bearish momentum over the past week. Dow Jones Components The Dow Jones’ components on Friday saw 5 stocks fall while 25 stocks rose in value. Therefore, 83% of the index rose in value confirming buy signals could have been relevant. Though, during today’s session investors should note that the US 10-Year T-Bond rose in value by 42 points. Currently, the VIX index is more or less unchanged, but as the US 10-Year T-Bond trades significantly higher, investors will need to be cautious of volatility. If the VIX increases in value and Bonds Yields remain significantly higher, the price of the Dow Jones may witness a horizontal trend. It will also be vital to again review the percentage of the components witnessing bullish and bearish price movements. Earnings season is almost at a close, the only major company yet to release its earnings report is Broadcom. However, Broadcom stocks are not a component of the Dow Jones and the report will simply impact the market only through the broader market sentiment. Analysts will concentrate their attention on this week’s ISM PMI release, JOLTS Job Openings and the Employment data on Friday. Ideally investors will want to see neither weak data which will trigger low consumer demand fears, nor positive data which will make rate cuts less likely. Ideally, investors would like to see the data read in line with expectations. Currently the market is pricing in 0.75% to 1.25% rate cuts in 2024. If the Fed indicates less than 0.75%, the stock market is likely to be overpriced. Dow Jones Technical Analysis In terms of technical analysis, the Dow Jones has been the only index which has continuously held above the 75 and 100 Period Moving Averages. Meanwhile, the SNP500 and NASDAQ have been unable to maintain momentum. Higher demand is due to the Market’s lower risk appetite and investors increasing exposure away from the technology market. However, the price is now trading very close to its all-time highs and close to its overbought market on most oscillators. Therefore, investors will be looking for further price drivers to regain momentum. Dow Jones 10-Minute Chart on September 2nd According to Fibonacci retracement levels, if the price declines, a retracement could fall as far as $41,339.55. If global indices rise and at least 65-70% of the Dow Jones’ stocks rise, investors may deem a breakout of the $41,641.00 level as a signal to speculate a price increase. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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: 30th August 2024. Market Volatility, Stock Market and Upcoming US Elections. US Elections have been and are always expected to be extremely volatile events worldwide. Elections, similar to other political or banking sector events, are notably treated by market participants with anticipation and speculation. As soon as Kamala Harris entered the Presidential race, replacing Joe Biden on the ticket, the stock markets began showing a noticeable preference for her. Market Watch reports that based on current stock market trends, Harris has a 64% chance of winning the election, a significant shift from the previously erratic market behavior. This shift in the stock market is a positive indicator, suggesting that investors are placing their confidence in the Democrats and their potential economic policies. While the impact on the election outcome might be minimal, the fact that a significant portion of these investors are also voters means that careful analysis of market trends could provide insights into the current political climate as the 2024 US Presidential Election approaches. Historically, it has been noticed that during election years, market participants shift their investments into money market funds instead of the safety of stock and bond funds, as they wait out the heightened uncertainty. But will 2024 be the same? We cannot quite know yet but it’s been a unique one so far as we have seen an extreme money flow into equity market and commodity market in comparison with past election years, due to geopolitical risk, US political uncertainties which added to the instability, AI mania which boosted global stock markets, and the recession concerns which initially returned but currently are considered to have been overblown, as were aggressive Fed rate cut bets. Are stock market investors rallying behind Kamala Harris? If we consider Market Watch’s analysis, Harris is indeed receiving substantial support from stock market investors across the US. This is reflected in the increased investments and the positive performance of certain stocks following her entry into the race after Biden’s unexpected withdrawal. Can the stock market serve as a reliable political barometer? The stock markets can offer insights into voter sentiment and have historically been a strong political predictor. In periods of uncertainty, the equity markets’ volatility and volume tend to spike again since they are considered to be attractive and more stable assets. If we focus on the medium term though it is expected that if current conditions sustain, market volatility will extend beyond Election days with any potential outcome, i.e. a Harris win and Democrat majority in Congress, a Harris win but split Congress, or a Trump victory with split Congress. Meanwhile, a chart from Wells Fargo Investment Institute, shows the USA500 implied Volatility index along with USA500 index performance prior and post the Election Day based on the elections since 1988 with the 2008 recession year excluded. This chart interestingly suggests that typically the USA500 tends to ease/consolidate a bit a month prior to the elections despite an extremely high volatility, while USA500 price continues its upwards move after the election day even though volatility declines significantly. WELLS FARGO INVESTMENT INSTITUTE However, it’s crucial to remember that market trends don’t always align with election outcomes. For instance, during the 2016 election, the stock market favored Hillary Clinton, but the final results told a different story. Historically, the markets have shown a tendency to respond more favorably to Democratic candidates rather than Republicans, due to various factors. It remains to be seen if the stock market’s predictions for the 2024 US election will prove accurate. Currently, market trends suggest a positive response towards Democratic candidate Kamala Harris, who is gradually gaining traction in the polls. However, as fear of a potential recession is still in the background, the US stock markets are in a state of uncertainty. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 29th August 2024. Market News – Nvidia dropped after hours; Equities mixed; Dollar pared some losses. Asia & European Sessions: Nvidia dropped about -7% in after hours trading in Frankfurt this morning, mirroring a fall in US after-hours trading which took Wall Street futures down with it. Though Nvidia’s guidance fell short of lofty expectations, the company’s revenue more than doubled to $30 billion in the fiscal second quarter, ending July 28. Additionally, Nvidia’s board approved $50 billion in new stock buybacks. Beats from Salesforce and CrowdStrike help contain losses. Nvidia reported solid results but the bar was so high that the data failed to top the most bullish estimates.. The NASDAQ led the decline, dropping -1.77% before paring losses into the close to finish -1.12% lower. The S&P500 tumbled -1.1% before closing with a -0.6% loss. The Dow trimmed its -0.99% decline to -0.39% In Japan, a 2-year government bond auction attracted the highest bid-cover ratio since 2019, spurred by recent yield increases. In China, the downbeat earnings trend persisted. Shares of electric vehicle maker Li Auto Inc. plummeted by up to 15% after missing forecasts, while BYD Co. also declined despite posting a 33% profit increase. Contributing to the negative sentiment, UBS Group AG lowered its growth forecasts for China for this year and next, citing a more severe property market downturn than expected. Financial Markets Performance: The USDindex has pared some of yesterday’s gains and is at 101.17. The New Zealand Dollar gained strength following a surge in the country’s business confidence to a decade-high. Oil prices steadied after a 2-day decline, with stock market losses balancing out a reduction in US inventories and supply disruptions in Libya. Gold traded just below its record high, poised for a monthly gain. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 28th August 2024. Market News – European Stocks Higher After Another Range-Bound Session in Asia. Asia & European Sessions: European stocks were poised for modest gains as investors awaited Nvidia Corp.’s earnings report for insights into the growth trajectory of AI-related stocks. Euro Stoxx 50 futures increased by 0.1%, suggesting a muted opening for European shares, while US stock futures remained steady during Asian trading. Asian equities fluctuated within narrow ranges due to weak corporate earnings in China. Hong Kong dropped as much as 1.6%, while mainland stocks fell to their lowest levels since early February. Shares of Nongfu Spring Co., a bottled water manufacturer, plummeted by up to 13% as in China sectors like materials, tech, construction, automotive, and others face significant downside risks. Nvidia is expected to report Q2 adjusted earnings of 65 cents per share on $28.74 billion in revenue, more than double what it earned in the same quarter last year, according to FactSet. Nvidia’s revenue has tripled annually over the past three quarters, driven primarily by the data center business. Demand for generative AI products, which can generate documents, create images, and serve as personal assistants, has significantly boosted sales of Nvidia’s specialized chips over the past year. However, Wall Street is keen on signs of any slowdown in AI demand. Financial Markets Performance: The Yen extended its losses against the US Dollar, to 144.595 following comments from Bank of Japan’s Deputy Governor Ryozo Himino. Himino stated that the BOJ would raise interest rates as long as inflation aligns with the bank’s outlook and emphasized the need for close monitoring of developments. Bitcoin fell below $60,000 as part of a broader cryptocurrency market decline, including a sharp drop in Ether, the second-largest cryptocurrency. USOil remained steady after a previous session’s decline, ending a 3-day rally. USOIL is under $75. The API projected that nationwide inventories fell by 3.4 million barrels last week, which would mark the 8th decline in nine weeks if confirmed by official data later today. Crude oil has experienced volatility in recent sessions, with recent declines following a rally near the 200-DMA. Political risks in the Middle East and potential supply disruptions from Libya have supported recent gains, but a broadly bearish outlook has led major Wall Street banks like Goldman Sachs and Morgan Stanley to lower their price forecasts for next year. Gold retreated after a 3-day climb that brought it closer to its all-time high. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 27th August 2024. Market News – Stocks mixed; Big Tech pulled down; Oil unchanged amid supply concerns. Asia & European Sessions: US: Some steam came out of Friday’s rally as Treasuries and Wall Street corrected from overbought conditions. The bond market had already priced in at least a -25 bp rate cut on September 18, though yields dropped further following Chair Powell’s confirmation. With little on the docket until Thursday’s claims data, the market gave back some of its gains. There was also a little concession building ahead of the start of the $183 bln in auctions. The S&P500 rose to 5651 in early action, but failed to test the record high of 5667 from July 16. The NASDAQ slumped -0.85% on profit taking ahead of Nvidia earnings Wednesday. The Dow was up 0.16%. Several technology companies tip the market because of their big values. Nvidia lost 2.2%, Microsoft fell 0.8%, Amazon dropped 0.9%, Meta Platforms slid 1.3% and Tesla lost 3.2%. China: Industrial profit data for China was robust, but mainland China bourses still struggled, while the Hang Seng managed slight gains. Europe: The Stoxx Europe 600 climbed 0.3% at the open, DAX and FTSE 100 are currently up 0.1% and 0.4% respectively. The UK is catching up after the extended holiday weekend. German data confirmed that GDP contracted -0.1% q/q in the second quarter and GfK consumer confidence data unexpectedly declined, which coupled with deteriorating business confidence flags recession risks. Financial Markets Performance: The USDIndex index is at 100.85. EURUSD and Cable are consolidating but remain at high levels at currently 1.116 and 1.319 respectively. Both flagged that monetary policy will have to remain restrictive for the time being. That won’t prevent additional rate cuts, but highlights that central banks will move cautiously. USOil closed with a 2.9% pop to $77.04 after news Libya was shutting supply added to the bullish impact of increasing tensions in the Middle East. Gold firmed to $2509 per ounce on geopolitical risks and rate cut prospects. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 26th August 2024. Market News – FED: “The time has come for policy to adjust”. This year’s Jackson Hole central banker symposium provided the opportunity for Fed Chair Powell to set the policy course for the FOMC, looking to join the other core central banks already in rate cutting mode. The markets got a big boost after he confirmed the FOMC will begin lowering rates on September 18. The question on size could be answered by upcoming jobs numbers. Europe & UK: The ECB is also likely to reduce rates again next month, while the BoE’s Bailey sounded a more cautious tone. Like the ECB, the BoE seems more likely to stick to meetings with updated projections and detailed analysis, which would mean the BoE will sit out the next meeting and move again in November. Japan: Governor Ueda signaled the BoJ remains on its normalization course, but a hike as soon as September 20 seems unlikely. Asia & European Sessions: Asian stock markets have shown mixed performance so far today, with the Hang Seng rising more than 1%, while Japanese markets corrected as the Yen rallied. Japan’s Nikkei 225 index dropped by 1.1%, reaching 37,944.68. Hong Kong’s Hang Seng index gained 1.0% to 17,786.31. Shanghai Composite index slightly declined by 0.1% to 2,852.34. Australia’s S&P/ASX 200 rose 0.7% to 8,076.10. European stock markets are mostly lower, with the DAX currently posting a loss of -0.2%. UK markets are closed for a holiday. The Dow climbed 1.1% to 41,175.08, surpassing the 41,000 mark for the first time since July. Financial Markets Performance: The USDIndex saw a session low of 100.53 after plunging on Friday. It is currently trading at 100.41. EUR and Sterling have benefited from dovish Fed bets and the correction in the Dollar. The EURUSD pulled back from 1.1200 and is currently at 1.1177. The GBPUSD broke key resistance at 1.31 and is retesting 1.3200 currently. The Yen outperformed, and rallied against most currencies.t is currently settled at 143.43. USOil spiked to $75.28. Safe-haven buying due to increasing tensions in the Middle East, alongside bets on the Fed, contributed to market movements. Oil prices rose 0.7% as the region prepared for further conflict following an Israeli strike on Hezbollah targets in southern Lebanon. Gold recovered to $2524. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 23rd August 2024. Market News – The Big Day! Profit taking was seen ahead of Chair Powell’s comments today, weighing on Treasuries and Wall Street as some of the aggressive Fed rate cuts bets were trimmed further. US economic data showed mixed results, with growth relying more on the service sector as manufacturing slows. A better than expected S&P Global services print, a bounce in new home sales, and cautious comments from several Fed officials from Jackson Hole were the catalysts for the selloff. The Yen rose after BOJ Governor Kazuo Ueda hinted at potential interest rate hikes, reaffirming the BOJ’s stance if economic data aligns with forecasts. This follows concerns after the BOJ’s July rate hike caused a global equity selloff. Japanese inflation data exceeded expectations, supporting the Yen as well. Focus on Powell’s Speech: Traders are awaiting Federal Reserve Chair Jerome Powell’s speech for clues on potential rate cuts. Some have been warning that the event risk is that Powell will be more cautious than markets are now expecting, which could weigh on the Euro and Sterling in particular. Asia & European Sessions: Wall Street tumbled, with losses accelerating into the close. The NASDAQ finished with a -1.67% plunge, while the S&P500 was -0.89% lower, and the Dow was down -0.43%. Asian equities were mixed, with Chinese shares helping to erase earlier losses. Global stocks were volatile, with declines in Hong Kong, South Korea, Australia, and the US. Alibaba’s Hong Kong listing upgrade was approved, which is expected to attract significant investment. However, Chinese tech stocks like NetEase, Baidu, and Bilibili fell due to weak earnings. Financial Markets Performance: The USDIndex has extended its declines, falling to 100.93. The buck has not closed with a 100 handle since April 2022. EURUSD has inched down to 1.1130 after drifting to 1.1097, but is still near the highest level in a year. Sterling outperformed and Cable rallied to 1.3120 after strong PMI data. The USDJPY is trading at 145.27 (S1) after a broader correction in the Yen. USOil steadied between 72.58-72.94. Gold has inched down to $2470 per ounce and still holds below the $2500 level. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 22nd August 2024. Market News – Eyes on Euro, Stock Markets in Green, But Cautioness Prevails Ahead of Fed & BoJ. FOMC minutes showed that the Fed was on the verge of cutting rates at the July 31 meeting, and the report sets up a reduction in rates with the September 18 decision. Expectations were further reinforced by the BLS’s downward revisions to Nonfarm payrolls. Treasury yields tumbled on the payroll revision and were down further after the FOMC minutes, but closed off their lows in a bull flattening trade. Wall Street bounced back marginally, looking to start another win streak after the modest declines Tuesday prevented a ninth straight gain in the S&P500, which would have been the longest since 2004. European stock markets are slightly higher in early trade, after a largely stronger close across Asia. The Nikkei closed 0.7% higher, the Hang Seng bounced 1.2%, after yesterday’s correction. Gains in Europe are more modest, with DAX and FTSE 100 up 0.1% and 0.2% respectively. The NASDAQ rose 0.57%, with the SP500 up 0.42%, while the Dow was 0.13% higher. The VIX jumped 2.86% to 16.87. Eurozone Composite PMI unexpectedly bounced back in the preliminary reading for August. The Manufacturing PMI still declined to an 8-month low and Services index outperformed. Confidence levels have dropped to the lowest so far this year and are below the “series average.” So the improvement in the headline doesn’t necessarily signal a rebound in overall activity, and the numbers are unlikely to prevent the doves at the ECB from pushing for another rate cut in September. Financial Markets Performance: The USDIndex has extended its declines, falling to 100.93. The buck has not closed with a 100 handle since April 2022. The Euro surged to a 1-year high against the US Dollar in August, driven by expectations of upcoming Fed rate cuts. The euro-dollar pair sees around $2.29 trillion in daily turnover, making it a key vehicle for betting against the US economy. Money managers have been buying euros daily for the past two weeks, anticipating a Fed interest-rate cutting cycle. However, the US rates staying higher than European rates could restore the Dollar’s appeal. USOil prices slipped -1.7% to $71.92 per barrel. Gold was fractionally lower at $2512.01 per ounce after rising to a new record high of $2513.99 on Tuesday. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 21st August 2024. Market News – Sentiment stabilize; EU stocks higher after mixed Asian session. Equities were boosted by rate cut expectations for the FOMC, as well as the ECB and BoC, and after a dovish cut by the Riksbank. Adding to the strength in the rally are the weaker USD, debt concerns (especially for the US), portfolio hedging, haven demand, along with buying from the PBoC and other central banks. Geopolitical risks remain a significant factor too, though they were tempered slightly late yesterday after news Israel had agreed to a cease-fire proposal. US bond yields dropped to their lowest since August 5, driven by fears of a recession after weak jobs data earlier in the month. Asia & European Market: European stock markets are slightly higher in early trade, after a mixed close across Asia. Chinese tech companies listed in Hong Kong were under pressure and the Hang Seng underperformed with a -0.8% loss. Sentiment seemed to stabilize at the start of the European session, and US futures are marginally higher as markets wait for Jackson Hole and signals from major central banks that rates will go down next month. Financial Markets Performance: The USDIndex fell to its lowest level this year against euro as traders prepared for key US payroll data revisions & Fed Powell’s upcoming speech. EURUSD rallied to 1.1132. The Sterling and the Yen showed mixed performance against the USD, with traders eyeing Japan’s parliament session and BOJ Governor Ueda’s upcoming testimony. GBPUSD spiked to 1.3050 and USDJPY bottomed to 144.92. SMBC economist Ryota Abe expects the US Dollar to weaken to 138 Yen by next year, with the Fed’s rate-cut pace being a critical factor. The Aussie hovered near a 1-month high, while the Kiwi touched its highest level since July before slightly retreating. USOil was steady close to its $72 floor. Gold continued to trade at about $2,500 close to its all-time high, fueled by expectations of impending Fed rate cuts.+ 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 20th August 2024. Market News – Its all about market sentiment. Wall Street continued its run higher as the panicked trade from early in the month continues to recede while outlooks on the Fed remain dovish heading into Chair Powell’s Jackson Hole speech Friday. Asian stocks mostly rose on Tuesday, driven by positive momentum from Wall Street as it neared record highs. Chinese property developer Kaisa announced a restructuring agreement with creditors to avoid legal challenges over its 2021 default. The deal includes issuing $5 billion in new bonds and $4.8 billion in convertible bonds. (Kaisa, once the largest offshore borrower after Evergrande, faces a winding-up petition in Hong Kong, though the case has been repeatedly delayed.) The RBA indicated that it will likely maintain interest rates at their 12-year high for an “extended period” to ensure inflation returns to target by next year. In Europe, growing risks to economic growth have strengthened the argument for a policy shift at the ECB’s meeting next month. Markets are also watching the EU CPI release due later today. Asia & European Market: Expectations for lower rates helped boost the NASDAQ by 1.39%. The S&P500 climbed to its 8th consecutive gain and its best run since November. It is just the 2nd close over 5600 as it sets its sights on the record 5667 from July 16. The Dow rose 0.58% to 40,896 as 41,198 is back in view. The Nikkei surged 2.1% to 38,156.41, recovering from a previous 1.8% drop. Financial Markets Performance: The USDIndex sank to 101.60, the weakest since early January. The Yen fluctuated against the US dollar, trading at the 147.33, rebounding from the 145-146 area. USOil prices decline to largest drop in 2 weeks, i.e. $72.76, as the US said Israel accepted a cease-fire proposal in Gaza, potentially easing supply risks as concerns about the global demand outlook mount. Bitcoin climbed to $60,974 while Gold continued to trade at about $2,500 close to its all-time high, fueled by expectations of impending Fed rate cuts. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 19th August 2024. Market News – Asian Stocks gain but US in red, Dollar plumMets; Yen the biggest gainer so far. September Fed rate cut all but a done deal, look ahead to Jackson Hole Dovish Fed bets have also boosted hopes of additional easing in Europe, and bonds are falling as markets look ahead to the Jackson Hole Symposium, which is expected to provide new guidance on the direction of US monetary policy. The anticipation of lower borrowing costs is boosting investor confidence. The US Dollar crashed to its lowest in 5 months. Cooler heads have prevailed as the panicked fears of recession dissipated. The FOMC is widely seen on track for -25 bp rate cuts over the remaining three policy meetings this year. Goldman Sachs reduced the likelihood of a US recession within the next year from 25% to 20%, citing the recent retail sales and jobless claims data. If the upcoming August jobs report, due on September 6, shows positive results, “we would likely lower our recession probability further to 15%,” Goldman economists led by Jan Hatzius noted in a report to clients on Saturday. Asian & European Open: Asian stock markets traded largely higher overnight, however, European markets are narrowly mixed in early trade and US futures are in the red. The Hang Seng and tech stocks led the way overnight. The Nikkei underperformed and corrected -1.8%. The German 10-year rate is down -1.6 bp, the 10-year Gilt -2.3 bp and the US 10-year yield -1.3 bp. Financial Markets Performance: The USDIndex has remained under pressure and hit a session low of 102.00, before picking up slightly. The Yen strengthened by 1% against the US Dollar, reaching 145.17 today. The yen’s rise is driven by overall USD weakness, anticipation of BOJ Governor Ueda’s parliamentary appearance on August 23, and Fed Chairman Powell’s speech at Jackson Hole. Markets are looking for signals from Ueda on the future direction of the BOJ’s interest rate policy. Political uncertainty is also influencing expectations, following Prime Minister Fumio Kishida’s announcement that he will not seek re-election as president of the ruling Liberal Democratic Party in September. Some investors are still betting on potential BOJ interest-rate hikes and may be buying Yen ahead of speeches by the US and Japanese central bank leaders later this week. USOil prices have also continued to struggle as demand concerns dominate. The USOIL is currently below $75 per barrel as traders tracked US-led efforts to secure a cease-fire in the 10-month old Middle East conflict, while the Russia-Ukraine war is escalating. Gold rallied to an all-time high over $2500 per ounce,on hopes the Fed is edging closer to cutting rates. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 16th August 2024. Markets corrected again; Stocks skyrocketed. Markets corrected again amid the back and forth on the Fed outlook and uncertainties over soft and hard landings that have besieged the outlooks since the jobs report. Global stocks have largely recovered from last week’s downturn, which had traders worried that the Fed might not cut rates quickly enough to prevent a recession. Asian stocks surged as investors returned to riskier assets, driven by increasing optimism that the US economy will sidestep a recession. September’s Fed rate cut was knocked out by the better than expected retail sales & jobless claims data and inflation. They are now anticipating less than a 30-basis point cut next month, with a total reduction of 92 basis points projected for the remainder of 2024. The RBA’s governor indicated that the central bank is still some distance from easing monetary policy. RBNZ governor Adrian Orr raised the distinct prospect of cutting rates another 50 basis points by year-end. NZDUSD rose to 0.6020. Asian & European Open: Japanese stocks climbed, benefiting from a weaker Yen, which enhances exporters’ profits. The Nikke is set to end the week on a high, surging 2.9% to 37,800.42. Treasuries extended their losses, and the Yen is on track for its steepest weekly decline since May. The VIX fell further, dropping -6.49% to 15.14. It is well below the intraday spike to 65 on August 5 and is the lowest since July 23, even before the jobs report. Wall Street surged 2.34%, with the S&P500 advancing 1.61%, while the Dow climbed 1.39%. The rebound in US stocks from the heavy selling suggests that trend-following quant funds may soon reenter the market, potentially providing further support to equities. Walmart’s solid earnings report added to signs that the consumer is by no means dead, corresponding with the better news on retail sales. Alibaba Group Holding Ltd. saw gains as optimism around tech stocks overshadowed concerns about its earnings. JD.com Inc. surged the most since March after exceeding net profit expectations in its earnings report released late Thursday. Financial Markets Performance: The USDIndex firmed to 103.024 after fading from the spike to 103.227. It was as low as 102.530. The Yen dropped 1.3% hovered around the 149 mark. This currency depreciation might even entice some hedge funds back into the carry trade that unraveled two weeks ago. GBP strengthened as GDP data confirmed robust growth through the second quarter of the year, which weighed on Gilts and saw yields moving higher. The AUD strengthened as job gains beat expectations. USOil climbed 1.3% to $77.99 per barrel on the improved growth outlook. Gold rallied 0.34% to $2456.24 after slumping to $2432 on the data. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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: 15th August 2024. Earnings and Inflation Boost the Dow Jones, Eyes Turn to Walmart’s Report! US inflation falls from 3.00% to 2.90% making a September rate cut certain. According to the CME Group, there is a 64% chance of the September rate cut being 25-basis points. Japanese GDP data confirms the economy grew 0.8% in the past quarter. The UK economy sees no growth in the latest month. Wednesday’s best performing index was the Dow Jones after Cisco Systems beat earnings and revenue expectations. USA30 – The Dow Jones Is Wednesday’s Best Performing Index! The Dow Jones is rarely the best performing index due to its exposure to more stable and less volatile stocks. The upward momentum is largely due to the earnings data from Cisco Systems and Caterpillar. Investors will now turn their attention to the last major quarterly earnings report for the week, Walmart. 80% of the Dow Jones’ stocks rose in value on Wednesday due to the significant rise in investor sentiment. Confidence in the stock market improved after the US inflation rate fell from 3% to 2.9% and the core inflation rate remained unchanged at 3.2%. The lower than previously expected inflation saw the market’s confidence rise and particularly support the Dow Jones. The Dow Jones also saw momentum rise after Cisco made public their latest quarterly earnings report. Earnings per Share was 2.49% higher than Wall Street’s predictions and the revenue rose by almost $1 billion from the 1st to 2nd quarter. As a result, the stock rose by 5.75% after market close. The best performing stocks on Wednesday were American Express and Goldman Sachs. Investors will now turn their attention to Walmart which will release their earnings report before the market opens. For Walmart, analysts predict the earnings per share to rise from $0.60 to $0.65 and for revenue to rise from $159 billion to $167 billion. The company has beat earnings expectations over the past 12 months due to investors looking to shop on a budget due to recent high inflation. On Wednesday, Walmart stocks rose 0.78% and a further 0.52% after market close. The rise and bullish momentum indicate investors believe the company will continue to perform well on their earnings reports. Walmart holds a weight of 1.12% and Cisco Systems 0.74%. Dow Jones – Interest Rates and Upcoming Economic News. After the lower inflation data for consumers and producers there is a 64% chance of the September rate cut being 25-basis points. According to many analysts the Federal Reserve will cut 0.75% by the end of 2024. However, some experts believe the Fed will cut a full 1.00%. This is also something which can be seen on the CME Group which indicates a 44% chance of a 1.00% cut by December. Investors will now turn their attention to the US Retail Sales, Core Retail Sales and Weekly Unemployment Claims. Ideally shareholders would like to see the data slightly stronger than expectations, but not strong enough to suggest no rate cuts are needed. The Empire State Manufacturing Index and Philly Fed Index will also trigger volatility but to a lesser extent. The only concern for shareholders is a potential rise in tensions within the Middle East! Currently the VIX trades with no major changes. As do Bond Yields, but a decline throughout the day would benefit the stock market. Dow Jones – Technical Analysis! Technical analysis indicates buyers are holding momentum. On the 2-Hour chart, price trades above the 75-Period EMA and the 100-Period EMA. The price also continues to trade above 70 on the RSI but is not indicating an overbought price. On the 5-Minute chart, the price continues to form bullish crossovers and trade above the VWAP. The price movement throughout as we approach the US session will depend largely on the global stock market performance and Walmart’s earnings report. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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 August 2024. The Pound Rises, But Cracks Emerge in the UK Employment Sector. The Pound increases in value, but UK employment data signals economic stagnation and weakening employment. The UK number of individuals claiming unemployment benefits rises 135,000, the highest in over 4 years. The Dow Jones trades sideways but this may change as Home Depot is due to release their earnings report. Investors turn their attention to the US Producer Inflation Rate which analysts expect to fall to 2.3%. GBPUSD – UK Employment Data Paints a Dim Picture! The Great British Pound is increasing in value against the US Dollar and also against all other currencies. However, the economic data coming out of the UK this morning paints a very different picture. Therefore, many investors question whether the Pound will indeed maintain bullish momentum. The number of individuals claiming unemployment benefits from 135,000 within a single month, the highest since the first COVID lockdown. The six-month average for the UK Claimant Count Change (number of unemployment benefits) is 22,233. Therefore, 135,000 added within a single month is a concern for investors and the Bank of England. In addition to this, the UK Average Earnings Index fell from 5.7% to 4.5% which is lower than expectations. The fall is likely to apply less upward pressure on inflation and can eventually prompt the Bank of England to consider an earlier rate cut. However, the positive from the morning’s UK data is the unemployment rate. The UK unemployment rate fell from 4.4% to 4.2%, a 4-month low. It is vital for investors to continue monitoring the GBP index, which is currently trading 0.23% higher. However, if data continues to disappoint throughout the week, the traditional react would lead to a weakening of the British Pound. If individual wish to speculate a depreciating GBP, investors also have the option to trade the GBPNZD which has been the best performing currency of the past week. Regarding the GBPUSD exchange rate, the price will also largely be dependant on this afternoon’s Producer Price Index. As the US session edges closer, investors will turn their attention to the PPI, which analysts expect to fall to 2.3%. If the Producer Price Index reads higher than expectations, the US Dollar may increase in value while the market’s risk appetite declines. As a result, the Pound can quickly give up gains from the past 24 hours. Currently, the price of the GBPUSD is trading above most moving averages, oscillators and the VWAP indicating potential upward price movement. However, as mentioned above, the price movement will be dependant on the upcoming economic releases. If the price trades above 1.28037 and 1.28092, the exchange rate may rise in value in the short term. However, ideally the US PPI will need to read lower than expectations as the breakout takes place. USA30 – Investors On Edge Ahead Of Inflation And Home Depot’s Earnings Report! The Dow Jones continues to honour the price pattern of the previous 2 trading sessions as per yesterday’s analysis. However, this is now likely to change as Home Depot will release their earnings report in the upcoming hours. Additionally, this afternoon’s Producer Price Index will be a key price driver. Shareholders will be hoping for a lower-than-expected PPI. Home Depot has beat their earnings expectations over the past 4 quarters, but investors will also be looking for guidance for the upcoming quarters. Investors expect Earnings Per Share to rise from $3.63 to $4.55 and for revenue to rise by $6 billion. If the company beat expectations the stock potentially can rise and support the Dow Jones. Over the past 12 months the stock has risen 4.80% and has a dividend yield of 2.60%. During this morning’s Asian session, the VIX is trading more than 2.00% lower which is positive for the Dow Jones. Investors will continue to monitor the VIX and US Bond Yields. If both decline, the price movement is likely to improve. Throughout the Asian session the Dow Jones has risen 0.32% and is attempting to move back to the resistance level. However, positive data is required to breakout of this level and form a possible bullish trend. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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 August 2024. How Will the Pound Perform Ahead Of A Vital Week For The UK! Economists expect the US inflation rate to remain at 3.0% or to drop to 2.9%. Also, economists expect Inflation excluding Food and Energy to drop to 3.2%. The Federal Reserve’s Mrs Bowman advises cuts are needed only if inflation continues to decline. According to the CME Group, investors are split over whether the Fed will cut 0.50% or 0.25%. The US inflation data tomorrow and on Wednesday will determine how the Fed will cut. The Dow Jones await key earnings reports from Home Depot (13th August), Cisco Systems (14th August) and Walmart (15th). GBPJPY – Key UK Data To Determine The Pound’s Value! The price of the GBPJPY is trading at the recent average price, but the Pound is gaining momentum ahead of vital economic data. The performance of the Great British Pound will depend largely on the upcoming 5 key economic releases. The Japanese Yen on the other hand has slightly lost momentum after the dovishness of the Bank of Japan in their latest press conference. The performance of the Yen will largely depend on the dovishness of the other central banks such as the Fed, Bank of England and European Central Bank. GBPJPY 2-Hour Chart Showing The Price Rise Above Moving Averages For The First Time Since July 11th. Throughout the week the UK will release the following key economic releases: Claimant Count Change Average Earnings Index UK Inflation Gross Domestic Product Retail Sales The price of the GBP will depend on how the UK economy and inflation has performed over the past month compared to expectations. According to economists, if the UK inflation rate and GDP read higher than expectations, the Pound is likely to strengthen. However, investors will also be looking closely at the UK employment data as the UK Unemployment Rate has risen to 4.4%. If the unemployment rate rises, the UK’s rate will be at its highest in 3-years and can prompt a more dovish central bank. Currently, the Pound is the best performing currency of the day, except for the AUD and NZD. The AUD and NZD normally tend to lose momentum as the European session opens. However, the New Zealand Dollar is also gaining momentum ahead of the RBNZ’s Rate Decision. The GBP is trading 0.20% higher so far in the Asian session. Technical analyst and economists consider if investors are increasing exposure predicting positive economic data throughout the upcoming week. In terms of technical analysis, the price of the exchange is trading above the 75-Period EMA and 100-Period SMA for the first time since July 11th. The RSI is also trading at 59.00 which indicates buyers may be gaining control. The Japanese Yen index is trading 0.42% lower so far, therefore signalling no conflict, but investors will keep monitoring this throughout the week. Particularly once the US start releasing their inflation data. Prices above 188.405 will see stronger buy signals whereas below 186.477 will see traders look for sell signals. USA30 (Dow Jones) – Investors Eye US Inflation and This Week’s Quarterly Earnings Reports! On Friday, the Dow Jones traded in a sideways price range after breaking the resistance level. According to economists, the assets sideways movement is due to shareholders wanting to see the upcoming earnings reports. Economists advise the Dow Jones is appropriately priced and investors will look at economic data and earnings first before determining the intrinsic value of the asset. As a result, US data and the upcoming quarterly earnings report will be key. The Dow Jones On A 2-Hour Chart. Previously, bad news was good news for the stock market. However, most shareholders will be hoping for slightly positive economic data to improve the risk appetite of the market. It will be key for the US inflation rate to fall if the stock market is to hope for a full correction back up to 14,000. Many economists advise a full correction is unlikely if inflation does not fall. The performance of the Dow Jones will depend on the quarterly earnings reports and US inflation. The Federal Reserve’s Mrs Bowman advises cuts are needed only if inflation continues to decline. Markets viewed the comments are cautious and less dovish compared to market expectations. However, if inflation does decline, market will start to price a 50-basis point cut for September. The Dow Jones awaits key earnings reports from Home Depot (13th August), Cisco Systems (14th August) and Walmart (15th). Over the past 6 months Home Depot stocks have fallen 4.60% and Cisco Systems 9.00%. Walmart stocks have risen almost 20% in 6 months. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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 August 2024. The Dow Jones Rebounds After Reassuring Guidance From Key US Companies! Stocks rebound after leading economists come out in force to confirm no recession is approaching. The NASDAQ rises 2.87% and the Dow Jones 1.77%. The SNP500 witnesses its best day since November 2022. A sense of relief after the Weekly Unemployment Claims was 8,000 lower than expectations. The British Pound gets ready for a week full of vital economic data. The GBP remains unchanged prior to the London open. USA30 – Why The Dow Jones Rose 1.77% On Thursday? The Dow Jones on Thursday saw a strong rebound which was a result of three elements. The first is that economists came out in force to confirm there is no sign in economic data indicating a recession. Speeches from the CEOs of Commerzbank, Goldman Sachs, and Disney said there was no data pointing to a crash. However, they did advise the market is likely to witness high volatility and strong correction in the upcoming months. Looking at economic data, the US economy remains strongly in the growth zone, but with a more balanced employment sector and weakening consumer demand. The second element supporting the stock market is the Weekly Unemployment Claims. Weekly Unemployment Claims was 8,000 lower than expectations (241,000). Lastly, technical analysts also advised the market was comfortable to buy the dip after the stock market was unable to maintain the downward momentum from Monday. When monitoring the individual components of the Dow Jones, all stocks ended the day higher. The strongest gains were from Intel which rose 7.90% and Amgen which won back previous losses. Caterpillar also continues to perform well after beating its earnings expectations by 8.00% also adding to the upward momentum. In addition to this, the VIX index trades 0.20% lower this morning, and if the decline increases, the VIX would support a continued correction in the stock market. Dow Jones (USA30) – Technical Analysis and US Inflation A key factor in the pricing of the stock market will be next week’s Consumer Price Index. The inflation rate will help determine how much the Federal Reserve will be willing to cut in September. JP Morgan in its latest report advised there is a 35% chance of a recession, and the Fed may cut interest rates by 1.00% in 2024. However, many economists believe the Fed will only cut by 50 basis points in September if inflation falls next week. Lower inflation can support the stock market and further fuel a correction. The Dow Jones has been trading sideways throughout the Asian session with no clear lasting crossovers. In addition to this, the MACD remains numb and the price trades at the VWAP. Therefore, more volatility is needed to obtain a clear signal. If the price breaks above the 39,551.75 level, a buy signal may arise from the breakout via crossovers and Fibonacci. GBPEUR – Investors Brace For Crucial UK Data In The Upcoming Week! The British Pound has significantly fallen in value over the past 3 weeks but has been attempting a correction over the past 3 days. The price is at the average price, but the economic data next week will be crucial for the Pound. A full correction back to 0.83820 or further bullish price movement will depend on the data. EURGBP – Impact Of High Interest Rates! In the following week, the UK will release their Claimant Count Change, Average Earnings Index, UK inflation, Retail Sales and the UK’s Gross Domestic Product. These 5 critical economic releases will indicate if the UK economy is solid and expanding or remains under pressure. It is noteworthy that the UK Finance association has published data indicating the significant impact of high interest rates. Experts highlight that the number of creditors’ claims for repossessing mortgaged properties has reached its highest level in five years. During this period, 96,000 homeowners were in arrears of at least 2.5%. Additionally, claims for mortgage non-payment rose by 34.0% year-on-year while repossessions of mortgaged properties increased by 31.0% compared to the same period last year. Therefore, it will be vital for the Pound to obtain supporting economic data in the upcoming week. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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: 8th August 2024. The Dow Jones Drops 2% As JP Morgan Signal Possible Recession. JP Morgan advises markets that the economy is at a higher risk of a recession in 2024. Representatives of the Federal Reserve advise they will not call for an urgent meeting to cut interest rates. Disney beat expectations but theme park visitors significantly fell. Economists advise this shows the drop in consumer demand and the risks of inflation over the past 3 years. The Japanese Yen climbs after downward pressure in the first half of the week. USA30 – The Dow Jones Reaches a Significant Support Level! The Dow Jones price quickly collapsed after the opening of the US trading session and continues to remain low on Thursday. The decline was largely triggered by the poor performance of Amgen (-5.00%) and Walt Disney (+4.46%). Both stocks came under pressure by the quarterly earnings report which confirmed some risks. On Wednesday, only 35% of the Dow Jones rose in value, while 65% fell. Dow Jones 2-Hour Chart Illustrating recent Support & Resistance Levels Disney’s Earnings Per Share for the latest quarter were significantly higher than previous expectations. Earnings were 16% higher while revenue came in as expected. However, the poor performance of the company’s theme parks dampened sentiment and the overall stock market. According to economists, the drop in revenue from theme parks is a result of inflation and lower consumer demand which not only influences Disney’s stocks but the overall market. In addition to this, throughout the month of August, poor data can be followed by an overreaction as the market’s risk appetite remains low and on the lookout. The next significant quarterly earnings report for the Dow Jones is Home Depot on Tuesday before the market opens. Another factor which is adding to pressure is the latest comments from JP Morgan, one of the largest US banks of all time. According to JP Morgan, the US economy is now at a higher risk of a recession in 2024, and a recent selloff has wiped out three-quarters of the global carry trade, erasing this year’s gains. USA30 – Technical Analysis! In terms of technical analysis, the price of the Dow Jones continues to find support at the $38,577.09 level. However, the price is testing the level for the fourth time this week. The question is, will the index break below the price or find short-term support. Currently the price trades below the 75-Period EMA, 100-Period SMA and below the 50.00 level on the RSI. However, a positive factor is the VIX index trades lower as do bond yields. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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: 31st July 2024. How Are Earnings Shaping the NASDAQ? Microsoft stocks fell 2.70% as Cloud revenue read lower than previous expectations. Overall earnings and revenue beat expectations. AMD and Starbucks stocks rise after releasing their quarterly earnings reports. Earnings support the NASDAQ after the index falls to a new monthly low. Meta, Qualcomm and Lam Research are due to release their earnings reports after today’s market close. USA100 – How Will Investors View The NASDAQ After The Recent Earnings Data! Yesterday, the NASDAQ fell 1.81%, hitting a recent low and pushing the index 10.50% below its recent highs. However, the decline came to a halt as the earnings from influential companies prompted investors to purchase at the lower price. Microsoft, AMD and Starbucks made public their latest earnings report after the market close. Microsoft stocks, the second most influential stock holding a weight of 8.49%, fell 2.70% after releasing their earnings. The price fell due to the Cloud revenue not reaching previous expectations. However, investors should note that earnings from the Cloud sector have still significantly risen from the previous quarters and the company overall beat earnings and revenue expectations. Microsoft earnings beat expectations by 0.25% and Revenue by 0.45%. On the other hand, AMD and Starbucks stocks rose in value after releasing their reports. AMD stocks rose 7.64% and Starbucks 3.63%. This evening, after the US market closes, Meta, Qualcomm and Lam Research will release their quarterly figures. The 3 stocks make up a weight of 6.56%. This is a moderate weight and not as influential as the above-mentioned stocks. However, the release can still significantly change the sentiment towards the stock market. The stock market fell after the US’s JOLTS Job Openings and CB Consumer Confidence beat expectations set by analysts. Investors will continue to monitor employment data throughout the week. However, tonight’s Federal Reserve press conference and forward guidance will be key for the foreseeable future. Particularly, a clear indication of a rate cut in September and another by the end of the year. Analysts advise the regulator will maintain the base rate at 5.25–5.50% for the eighth consecutive meeting. However, during the press conference, Fed Chair Jerome Powell might hint at a 0.25% point rate cut in September, the first in over four years. Futures tied to the US interest rate suggest the possibility of three rate cuts this year, though most experts anticipate only two, in September and December. The NASDAQ’s price still remains below the trend-line and 100-Period SMA. In addition to this, the RSI trades at the Neutral level. Therefore, the price is not yet obtaining a clear longer-term buy signal yet. However, investors who wish to speculate the recent upward price movement can aim for the recent resistance level at $19,194.03, which is also in line with the trend-line. 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 HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou 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 August 2023. Market Update – August 10 – Disney missed forecasts – US Inflation ahead! Yields have moved higher, but stock market sentiment also improved as investors look ahead to key US inflation data. The Hang Seng underperformed overnight, but elsewhere indexes managed to move higher. European markets are narrowly mixed at the start of the session, US futures are moving higher. Bonds have pared overnight losses, but the US 10-year rate is still up 1.3 bp at 4.018%, while Bund and Gilt yields have lifted 2.7 bp and 2.4 bp respectively. Fears that the CPI report might be too elevated to keep the FOMC sidelined in September elicited profit taking on recent gains. In earnings front, Disney missed revenue forecasts, Disney reporting that streaming losses totaled $512 million in its fiscal third quarter, about half of the $1.1 billion loss reported in the prior-year period and less than the $777 million loss forecast by analysts. European gas prices rose 30% on fears over Australian supply. FX – USDIndex was little changed at 102 after trading in a narrow range from 102.29 to 102.58. EURUSD higher at 1.1020, Cable jumped to 1.2760 from 1.2705. Stocks – The US100 underperformed, sliding -1.17% on the weakness in big tech. The US500 dropped -0.7% and the US30 declined -0.54% with IT leading the way lower. Commodities – USOil spiked to $84.26 breaking 11-month highs, supported by the spike of gas. European natural gas prices surged more than 30%, as the potential for liquefied natural gas supply disruptions from Australia spooked traders who have been betting against the price. A pop in USOIL prices to 11-month high at $84.65 added to anxiety over inflationary pressures. Gold – is ranging at $1,915- $1,920. Today: US inflation and Jobless claims. Biggest FX Mover: CHFJPY (+0.56%) spiked to 164.89, with 165 the next resistance level. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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 9th August 2023. Market Update – August 9 – Defensive Stock Markets. Treasuries put in a good day, finding a solid bid as poor Chinese trade data elevated fears over global growth again. Also, there was weakness in the regional banking sector after Moody’s downgraded 10 small and medium sized banks. Fedspeak supported too after Harker and Barkin indicated the FOMC could probably be patient, though more data will be needed to make sure. Stock markets across Asia were mostly under pressure as yesterday’s bout of risk aversion lingered. Yields continued to decline and Bonds are also higher in Europe and the US, while European and US futures are finding buyers after yesterday’s sell off. Falling wages and the speculation of additional stimulus measures for China are also adding support. Overnight: China faces deflation as data for July showed that both consumer and producer prices dropped versus July 2022. CPI was down -0.3% y/y, the first decline since February 2021. PPI contracted -4.4% y/y, which was the 10th consecutive month of negative annual rates. It was the first time since November 2020 that both consumer and producer prices were in negative territory and the numbers are a further sign that both consumers and businesses are struggling, with plunging demand for exports and weak consumer spending weighing on the economy. The data will add to pressure on officials to do more to boost activity. FX – USD Index corrected from yesterday’s highs and is at 102.334 as risk appetite improved. EURUSD sideways at 1.0970, Cable retests at 1.2800. Stocks – Wall Street ended in the red but off of early lows. The US100 declined -0.79%, while the US30 was down -0.45%, with the US500 falling -0.42%. Financials and materials underperformed. The JPN225 closed with a -0.5% loss, Hang Seng and CSI 300 are also in the red. AMC rose nearly 3% after hours, while it has risen about 26% so far this year. AMC said that the current quarter was off to a strong start, driven by box-office hits such as Barbie and Oppenheimer, after posting a surprise profit and beating second-quarter revenue estimates. Commodities – USOil spiked to $82.62. Gold – was 0.3% higher at $1,930.18. Today: Disney earnings on tap. Key Mover: USOIL retests 10-month resistance, while it has fully recovered the week’s losses and is currently settled at 82.70. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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 8th August 2023. Market Update – August 8 – Risk Appetite Picked Up. Risk appetite picked up,the US Dollar has been supported as Yields backed up and US futures outperformed. On the other hand, the advent of the August refunding supply left Treasuries heavy, especially in the wake of the debt warnings from the Fitch downgrade. Further erosion in recession outlooks contributed to the rally while the mix of earnings made for choppy upside action. Markets are looking ahead to this week’s US inflation report, after Fed’s Bowman suggested over the weekend that more hikes may be needed. NY Williams also left the door open for more hikes. Overnight we had seen China exports plunge again, which weighed on confidence. FX – USD Index is choppy and holds close to 102. EUR and GBP corrected amid weak economic data and as confidence in a soft landing for the US strengthened. EURUSD sideways at 1.10, Cable holds in the downchannel, currently at 1.2765. USDJPY extended 143.45. Stocks – The US30 led the way with a 1.16% surge, recovering from 3 straight declines. The US500 advanced 0.90% and the US100 was up 0.61% after 4 consecutive drops on both indexes. #BeyondMeat abandoned its hopes of becoming cash flow positive this year and cut its sales outlook, sending its shares down more than 8% in extended trading. Commodities – USOil has corrected from recent highs and is currently settled at $80.90. Gold – Ranging within $1930-$1938 area. Today: FOMC Member Harker speech, Eli Lilly, UPS, Duke Energy earnings on tap. Biggest Mover: (@6:30 GMT) NZDUSD (-0.76%) broke August lows at 0.6060. Next immediate support levels are set at 0.6050 and 0.6030. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click 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.