Forex Market Report - 5th July 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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1. US Non-Farm Payrolls (NFP) Report
- The NFP report showed a stronger-than-expected job growth, indicating a robust labor market.
- This data has increased speculation about further Federal Reserve interest rate hikes.
- The US dollar gained strength across the board following the release.
2. Eurozone Inflation Data
- Recent inflation figures from the Eurozone came in lower than anticipated, suggesting easing price pressures.
- The European Central Bank may reconsider its aggressive rate hike strategy.
- The euro experienced downward pressure against major currencies in response.
3. OPEC+ Meeting Outcomes
- OPEC+ agreed to maintain current production levels despite global economic uncertainties.
- Crude oil prices stabilized, providing some relief to oil-dependent currencies.
- The decision has been interpreted as a balancing act between supporting prices and avoiding market oversupply.
4. Chinese Economic Data
- China's latest manufacturing PMI fell below the 50-mark, indicating contraction.
- Concerns about China's economic slowdown have impacted commodity currencies like the AUD and NZD.
- The People's Bank of China may implement further stimulus measures to support growth.
5. UK Political Developments
- Ongoing political instability in the UK, including cabinet reshuffles and policy uncertainties, has affected market sentiment.
- The British pound remains volatile amid speculation about potential changes in fiscal and monetary policies.
- Investors are closely monitoring developments for any signs of stability or further disruptions.
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Dollar rebounds, loonie tumbles on Trump tariff threats
Trump vows tariffs on Canada, Mexico and China - Dollar gains, loonie tumbles the most among majors - RBNZ expected to deliver another bold rate cut - Gold and oil fall on Israel-Hezbollah ceasefire headlines
XM Group
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hace 7h 58min
Crypto market deepens correction
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto market deepens correction
FxPro
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hace 8h 45min
EBC Markets Briefing | Bullion unchanged after Trump tariff vow
Gold prices held steady after Trump’s tariff announcement, dropping over 3% the previous day as Israel neared a ceasefire.
EBC Financial Group
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hace 9h 33min
NZD/USD Hits Yearly Low Amid US Dollar Strength
The NZD/USD pair has experienced a significant decline, touching a low of 0.5841 and reaching a yearly trough of 0.5796. The primary pressure comes from a robust US dollar, bolstered by anticipations of a more stringent tariff regime under US President-elect Donald Trump.
RoboForex
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hace 10h 15min
Daily Global Market Update
Gold prices dropped significantly, while the Euro gained slightly. The Pound dipped, and Bitcoin fell sharply. Global equities rose as the dollar weakened. DeFi tokens surged, and the total value locked in DeFi reached a three-year high. Apple's investment proposal in Indonesia was rejected. Key economic events like US Non-Farm Payrolls and UK CPI are due.
Moneta Markets
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hace 11h 38min
Trump’s Tariff Policies Push Dollar Higher
The dollar surged to a recent high, recovering from yesterday's retreat, driven by President-elect Donald Trump's threats of 25% tariffs on Canada, China, and Mexico.
PU Prime
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hace 12h 14min
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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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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