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Stocks in a Rally!


25 January 2023 Written by Andria Pichidi  HF Markets Analyst Andria Pichidi

USDIndex settled at 101.50, Wall Street rallied on the back of tech amid ongoing hopes for a downshift in Fed rate hikes amid a potential moderation in inflation this week. Fears of a recession and the potential for the worst quarter of earnings in seven years were put aside for now. Microsoft announces today but news it is investing $10 bln in OpenAI, the maker of ChatGPT provided strong support for investors.

Today – German, Eurozone, UK and US flash S&P Global PMIs are due today. New Zealand and Australian Inflation for Q4 is also on tap. Biggest FX Mover @ (07:30 GMT) USDJPY (-0.45%). Rejects 130.70 for a third day in a row. MAs aligned lower, MACD histogram & signal line are close to neutral zone. RSI 42 & flat, H1 ATR 0.200, Daily ATR 1.920.

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