Forex Market Report - 26th 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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Pred 84 dňami
1. USD Movement
- Federal Reserve Meeting: Anticipation of the upcoming Federal Reserve meeting is impacting USD, with expectations of potential interest rate adjustments.
- US GDP Data: Positive GDP growth figures have bolstered the USD, reflecting a robust economic recovery.
- Consumer Confidence Index: A rise in consumer confidence is supporting the USD, indicating increased consumer spending and economic optimism.
2. EUR Trends
- ECB Monetary Policy: The European Central Bank's stance on maintaining current interest rates is influencing EUR stability.
- German Economic Indicators: Strong industrial production and export figures from Germany are providing support to the EUR.
- Eurozone Inflation: Rising inflation rates in the Eurozone are creating speculation around future ECB policy adjustments.
3. GBP Fluctuations
- Bank of England Signals: The Bank of England's hints at possible rate hikes are causing fluctuations in the GBP.
- Brexit Developments: Ongoing negotiations and regulatory changes post-Brexit continue to create volatility for the GBP.
- UK Retail Sales Data: Better-than-expected retail sales figures are providing temporary support to the GBP.
4. JPY Dynamics
- Bank of Japan Policy: The Bank of Japan's commitment to ultra-loose monetary policy is keeping the JPY under pressure.
- Trade Balance Figures: Japan's trade surplus data has been stronger than expected, offering some support to the JPY.
- Risk Sentiment: Global risk sentiment and its impact on safe-haven assets like the JPY are being closely monitored by traders.
5. Commodity Currencies (AUD, CAD, NZD)
- Commodity Price Movements: Fluctuations in commodity prices, particularly oil and metals, are directly influencing AUD, CAD, and NZD.
- Central Bank Policies: Statements and actions from the Reserve Bank of Australia, Bank of Canada, and Reserve Bank of New Zealand are critical for these currencies.
- Economic Data Releases: Key economic data such as employment figures, GDP growth, and inflation from Australia, Canada, and New Zealand are impacting currency movements.
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FxPro
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Pred 8 h 44 min
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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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Pred 8 h 50 min
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EBC Financial Group
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Pred 9 h 17 min
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EBC Financial Group
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Pred 12 h 48 min
Strong US data keep the dollar in demand
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XM Group
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Pred 13 h 14 min
EURGBP goes back to a downtrend
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XM Group
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Pred 14 h 0 min
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
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Pred 16 h 7 min
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
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Pred 17 h 28 min
