Forex Market Report - 2nd August 2024
Our forex market report offers an overview of critical economic and financial events that impact the global forex markets. Traders should closely monitor developments to fine-tune their trading strategies accordingly.
DNA Markets
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vor 115 Tagen
1. U.S. Employment Data Release
- Non-Farm Payrolls: Expected to show moderate growth, influencing USD strength.
- Unemployment Rate: Forecasted to remain stable; deviations could impact market sentiment.
- Average Hourly Earnings: Watch for any uptick as it may signal inflationary pressures.
2. Eurozone Inflation Figures
- CPI Data: Anticipated to confirm persistent inflation, affecting ECB's policy outlook.
- Core Inflation: Closely monitored for signs of underlying inflation trends.
- Market Reaction: EUR could see volatility based on inflation readings and ECB commentary.
3. Bank of England Interest Rate Decision
- Rate Hike Expectations: Market pricing in a potential rate hike to combat inflation.
- Economic Projections: Updates on growth and inflation forecasts will be critical.
- GBP Volatility: Significant movements likely around the announcement and subsequent press conference.
4. China Trade Balance Report
- Export Data: Decline expected due to global demand slowdown, impacting CNY and commodity currencies.
- Import Data: Insights into domestic economic health and commodity demand.
- Market Impact: Key for assessing global trade dynamics and risk sentiment.
5. U.S. Treasury Yield Movements
- 10-Year Yield: Recent uptick influencing USD and broader financial markets.
- Inflation Expectations: Monitoring yields for signs of changing inflation outlook.
- Risk Appetite: Higher yields could weigh on equities and riskier assets, benefiting safe havens.
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NZDUSD, USDJPY, EURUSD
RBNZ to cut rates again with NZDUSD remaining in negative territory; US core PCE may give some clues for the next Fed meeting; USDJPY near 155.00; Eurozone flash CPI on the agenda; EURUSD tumbles 5% in three weeks
XM Group
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vor 5Std 35 Minuten
Gold stalls near 2,700. Is it losing its shine?
Gold switches to loses before reaching all-time high. A consolidation phase likely in the short-term.
XM Group
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vor 7Std 14 Minuten
EUR/USD Amid Slowing European Economy
EUR/USD encountered significant pressure, testing a low of 1.0331 before rebounding to 1.0476, as market concerns mount over the potential economic slowdown in Europe and aggressive rate cuts by the European Central Bank (ECB).
RoboForex
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vor 8Std 16 Minuten
Geopolitics and Trump’s cabinet selections guide market sentiment
Possible ceasefire in Lebanon, gold dives; A shortened week in the US due to Thanksgiving celebrations; Trump’s Treasury Secretary nomination pleases equity markets; Dollar loses ground against euro and yen; bitcoin fails at $100k
XM Group
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vor 8Std 29 Minuten
Crypto Recharged Over the Weekend
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto Recharged Over the Weekend
FxPro
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vor 8Std 40 Minuten
Macro data showed divergence, with a significant rise last Friday; geopolitical tensions have escalated, and gold prices have risen back above 2710
Last Friday, the market generally believed that Trump's rise to power would boost the US dollar, and the weakening of expectations for Fed rate cuts next year further supported the dollar's movement.
CWG Markets
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vor 9Std 16 Minuten
EBC Markets Briefing | Aussie dollar firmed despite China concerns
The Australian dollar edged higher Monday as the RBA remained hawkish, noting China's stimulus may have only a "modest" impact on Australia this time.
EBC Financial Group
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vor 9Std 32 Minuten
Daily Global Market Update
Oil rallied, Aussie Dollar dipped, Euro weakened, Dollar-Yen corrected. Global stocks surged, led by tech optimism. Bitcoin nears $100K, market awaits US policy shifts. Key economic data from Japan, US, Eurozone, and Germany due.
Moneta Markets
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vor 12Std 2 Minuten
