Forex Market Report - 7th 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
|
il y a 72
1. U.S. Non-Farm Payrolls (NFP) Report
- The U.S. NFP report is due today and is expected to show a significant increase in job creation, potentially impacting USD pairs.
- Analysts predict a possible uptick in wages, which could influence inflation expectations and the Federal Reserve's monetary policy.
- A stronger-than-expected report may lead to increased speculation about future interest rate hikes, boosting the USD.
2. ECB Interest Rate Decision
- The European Central Bank (ECB) will announce its latest interest rate decision today, with markets closely watching for any changes in monetary policy.
- While no rate change is expected, the ECB's forward guidance will be scrutinized for hints on future tightening or easing.
- Comments from ECB President Christine Lagarde during the subsequent press conference could significantly impact the EUR.
3. China Trade Balance Data
- China's latest trade balance data will be released, offering insights into the health of the world's second-largest economy.
- A significant surplus could indicate strong global demand for Chinese goods, while a lower surplus might suggest slowing economic activity.
- The data will likely influence commodity currencies such as AUD and NZD, given their trade ties with China.
4. Bank of Japan (BoJ) Monetary Policy Outlook
- The BoJ's recent policy meeting minutes will be published, providing clues on the central bank's stance amid ongoing economic challenges.
- Traders will look for any signs of the BoJ's readiness to adjust its ultra-loose monetary policy, which could affect JPY pairs.
- Market participants are particularly interested in any commentary regarding inflationary pressures and the yen's value.
5. U.K. GDP Growth Figures
- The U.K. is set to release its latest GDP growth figures, which will offer a snapshot of the country's economic performance.
- Expectations are for modest growth, but any deviation could lead to significant moves in GBP pairs.
- The data will be critical in shaping expectations for the Bank of England's future monetary policy decisions.
To begin your trading journey, visit www.dnamarkets.com
read more
EBC Markets Briefing | Dow nabs closing record on TSMC’s buoyant report
The Dow hit its fourth record close in five sessions on Thursday, boosted by strong retail sales and TSMC's positive forecast.
EBC Financial Group
|
il y a 3h 0min
Strong US data keep the dollar in demand
ECB cuts rate, keeps door wide open to a December move; Euro suffers as US retail sales surprise on the upside; Focus today is on Fedspeak and in particular Fed’s Bostic; Gold surpasses $2,700 as China announces further measures
XM Group
|
il y a 3h 27min
EURGBP goes back to a downtrend
EURGBP charts new 2 ½-year low after UK retail sales beat estimates . Short-term bias is skewed to the downside, but price near familiar support line.
XM Group
|
il y a 4h 12min
Daily Global Market Update
The GBP/USD pair made a minor upward correction, while Bitcoin/USD fell. Oil prices remained stable, and the Australian dollar gained. Global financial headlines included record-breaking Bitcoin ETF inflows, falling oil prices, and rising gold prices. Upcoming economic highlights include UK retail sales, housing starts, and budget statements.
Moneta Markets
|
il y a 6h 19min
Dollar Strength and Chinese Renminbi Weakness
The U.S. dollar has shown persistent strength in global currency markets, with the dollar index breaking above the critical 103.00 level. This resurgence has been driven by a combination of factors, including robust economic data from the U.S., heightened global risk aversion, and relative weakness in other major currencies, most notably the Chinese renminbi (CNY).
ACY Securities
|
il y a 7h 41min
Monetary Policy and Economic Developments in Japan and the U.S.
In early October, the Bank of Japan (BOJ) held a regional meeting that highlighted positive trends in consumer spending, driven in part by wage growth, especially among younger demographics.
ACY Securities
|
il y a 7h 43min
How You Can Trade the NZDCAD From the Monetary Policy Divergency
The recent inflation data from New Zealand and Canada has triggered notable movements in their respective currencies, the NZD and CAD. While both countries experienced a slowdown in inflation, the market response has been different.
ACY Securities
|
il y a 7h 46min
EBC Markets Briefing | Bullion eyes record high despite dollar comeback
Gold reached its peak as Treasury yields fell. LBMA delegates forecast gold at $2,941 and silver at $45 within 12 months.
EBC Financial Group
|
il y a 1
