Forex Market Report - 16th 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 | 63 dagar sedan

1. U.S. Economic Data Releases

Retail Sales Data: The latest U.S. retail sales data is expected to show resilience in consumer spending, which may bolster the USD.Industrial Production Figures: Anticipated to show a modest increase, potentially supporting the USD if numbers beat expectations.University of Michigan Consumer Sentiment: Expected to reflect consumer confidence, influencing USD volatility depending on the sentiment shift.

2. Eurozone Economic Sentiment

German ZEW Economic Sentiment Index: A potential decline is forecasted, which could weigh on the Euro if the index shows increasing pessimism.Eurozone Inflation Data: Core inflation remains sticky, prompting speculation about the ECB’s stance on further rate hikes.ECB Policy Meeting Minutes: Traders are awaiting insights from the latest ECB minutes to gauge future policy directions, impacting the EUR.

3. UK Economic Outlook

Inflation Data: Upcoming CPI data will be closely watched, with any signs of persistent inflation likely to fuel expectations for more BoE rate hikes.Labour Market Report: Expected to show tight conditions, which may add pressure on the BoE to maintain a hawkish stance.Brexit Developments: Ongoing negotiations regarding Northern Ireland's trade rules could introduce volatility to the GBP.

4. China’s Economic Performance

Industrial Production and Retail Sales: Recent data points to a slowing economy, which may prompt the PBOC to consider further monetary easing.Yuan Devaluation Concerns: Continued depreciation of the Yuan against the USD is raising concerns, possibly leading to intervention by Chinese authorities.Export Data: Weak export figures are adding to global economic concerns, potentially influencing commodity currencies and overall market sentiment.

5. Commodity Market Movements

Oil Prices: Ongoing production cuts by OPEC+ are supporting oil prices, but global demand concerns could cap further gains.Gold Prices: A slight uptick in gold prices as investors seek safe-haven assets amidst ongoing global economic uncertainties.Agricultural Commodities: Weather-related disruptions are affecting crop yields, driving up prices for key commodities like wheat and corn.

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Förordning: ASIC (Australia)

Taggar: Analys

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 | 35 minuter sedan

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 | 37 minuter sedan

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 | 41 minuter sedan

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 | 19h 9minuter sedan

US dollar could benefit from an unexciting ECB meeting

ECB meets but unlikely to reverse euro’s recent trend; Both the dollar and US stocks are in a good mood; Netflix reports today after TSMC's massive profit jump; Gold and bitcoin in demand, oil craves a bullish catalyst

XM Group | 20h 18minuter sedan

AUD/USD Rises Following Strong Australian Employment Data

AUD/USD rebounded on Thursday after three consecutive days of declines. This was supported by robust employment data from Australia, which bolstered the hawkish outlook on the Reserve Bank of Australia's (RBA) monetary policy.

RoboForex | 20h 20minuter sedan

Sector Winners and Losers: Which Industries Could Benefit or Suffer from the 2024 US Presidential Election Results?

As the 2024 US Presidential Election draws near, all eyes are turning towards the American economy and the potential impact on its several sectors. This is not surprising, given the diametrically opposing stances towards policies and each candidate is expected to uphold as apex representatives of their respective parties.

Vantage | 20h 31minuter sedan

The Crypto Market Stabilises at the Top

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: The Crypto Market Stabilises at the Top

FxPro | 21h 9minuter sedan

EURUSD	1.08397	GBPUSD	1.30212	AUDUSD	0.67016
USDJPY	149.812	USDCAD	1.37954	USDCHF	0.86562