Forex Market Report - 24th May 2024
This daily 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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150 hari yang lalu
1. US Federal Reserve Policy Updates
- Interest Rate Outlook: Recent comments from Fed officials suggest a potential pause in rate hikes, focusing instead on economic data before making further decisions.
- Economic Indicators: Watch for upcoming releases of the US GDP growth rate and employment data, which could influence the Fed's policy stance.
- Inflation Concerns: Persistent inflationary pressures may compel the Fed to reconsider their current dovish stance, impacting the USD.
2. Eurozone Economic Performance
- GDP and Inflation Data: Recent reports indicate slower growth and persistent inflation in the Eurozone, raising concerns about stagflation.
- ECB Policy Signals: The European Central Bank has hinted at maintaining current interest rates while monitoring inflation trends closely.
- Geopolitical Risks: Ongoing geopolitical tensions in Eastern Europe continue to affect economic stability and investor confidence in the Eurozone.
3. China's Economic Health
- Manufacturing PMI: Latest data shows a contraction in China's manufacturing sector, signalling potential economic slowdown.
- Policy Response: The Chinese government is expected to implement fiscal and monetary measures to stimulate growth and support key industries.
- Trade Relations: Ongoing trade tensions with major economies, particularly the US, are likely to impact export-driven growth and the yuan.
4. UK Economic and Political Developments
- Brexit Impact: Continued Brexit-related trade disruptions are affecting economic performance and business sentiment in the UK.
- Bank of England Stance: The BoE is maintaining a cautious approach to rate hikes, balancing between inflation control and economic growth.
- Political Instability: Recent political upheavals and policy uncertainties are adding to market volatility, influencing the GBP.
5. Commodity Market Trends
- Oil Prices: Fluctuating oil prices due to geopolitical tensions and supply chain disruptions are impacting commodity-linked currencies.
- Gold as Safe Haven: Increased demand for gold amid global economic uncertainties is driving up prices, benefiting currencies like AUD and CAD.
- Agricultural Commodities: Weather conditions and trade policies are significantly affecting the prices of agricultural commodities, influencing economies dependent on these exports.
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Gold and dollar edge up as markets bet on Trump win
US election risks move to the forefront as Trump narrows gap with Harris. Gold begins week with new record as geopolitical tensions add to demand. Stocks mixed ahead of key earnings.
XM Group
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1j 40min yang lalu
Gold Hits New Record Amid Geopolitical Tensions and US Election Uncertainty
Gold prices surged to a new record high of 2,729 USD per troy ounce on Monday, driven by escalating conflicts in the Middle East and the heightened uncertainty surrounding the upcoming US presidential election.
RoboForex
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3j 36min yang lalu
The Crypto Market Maintains an upward Momentum
Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto: The Crypto Market Maintains an upward Momentum
FxPro
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3j 45min yang lalu
Daily Global Market Update
Oil prices plummeted, the Aussie dollar remained stable, and the euro and yen strengthened against the dollar. Global markets reacted to China's slowing economy, rising US budget deficit, and tech stock gains. Upcoming economic events include US bill auctions, German producer prices, Chinese interest rates, and New Zealand trade data.
Moneta Markets
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6j 18min yang lalu
Crypto: From Fear to Greed in One Week
Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto: From Fear to Greed in One Week
FxPro
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2 hari yang lalu
Weekly review: USD marching alongside with Gold & Stocks
Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Weekly review: USD marching alongside with Gold & Stocks
FxPro
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2 hari yang lalu
EBC Markets Briefing | European stocks face lower bar now
Analysts have lowered their earnings forecasts for European companies at the fastest rate in seven months, expecting less impact on stock prices.
EBC Financial Group
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2 hari yang lalu
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
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3 hari yang lalu