Forex Market Report - 22nd 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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190 dagar sedan
1. U.S. Federal Reserve Policy Update
- The Federal Reserve's latest decision to hold interest rates steady was in line with market expectations.
- Recent data on inflation and employment will be crucial in influencing the Fed's next steps.
- The announcement led to a mixed response in the forex market, with the USD showing initial strength but later stabilizing as traders digest the implications.
2. Eurozone Economic Data
- Preliminary GDP figures for the Eurozone showed slower-than-expected growth, raising concerns about the region's economic recovery.
- Eurozone inflation remains high, with the latest CPI data indicating persistent price pressures.
- Recent comments from ECB officials suggest a cautious approach to monetary tightening, impacting EUR/USD trading dynamics.
3. UK Inflation and BoE Response
- The UK's latest inflation report showed a higher-than-expected increase, suggesting that price pressures remain robust.
- Speculation is growing that the BoE might raise interest rates sooner than anticipated to combat inflation.
- Economic data such as retail sales and employment figures will provide further insights into the UK's economic health and influence GBP trading.
4. China's Economic Performance
- Recent figures indicate a slowdown in China's industrial output, raising concerns about the broader economic outlook.
- China’s export and import data have shown mixed results, reflecting global supply chain issues and domestic economic challenges.
- The Chinese government's measures to stimulate the economy are being closely watched.
5. Geopolitical Tensions and Market Sentiment
- Ongoing tensions between the U.S. and China over trade and technology continue to create market uncertainty.
- Recent flare-ups in the Middle East have led to fluctuations in oil prices, which in turn affect currencies tied to energy exports.
- Overall market sentiment remains cautious due to geopolitical risks, influencing safe-haven currencies like the USD and JPY.
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EUR/USD Steady Ahead of Major US Data Releases
EUR/USD remains stable at around 1.0483 as markets digest the implications of the latest FOMC minutes.
RoboForex
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18h 16minuter sedan
All Eye on Today’s PCE
Ahead of today’s U.S. PCE reading, most asset classes remained steady as markets await direction. A higher-than-expected reading could bolster the dollar.
PU Prime
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21h 54minuter sedan
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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1 dag sedan
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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1 dag sedan
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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2 dagar sedan
EUR/USD Amid Slowing European Economy
EUR/USD encountered significant pressure, testing a low of 1.0331 before rebounding to 1.0476, as market concerns mount over the potential economic slowdown in Europe and aggressive rate cuts by the European Central Bank (ECB).
RoboForex
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2 dagar sedan
Dollar Plummet on Trump’s Treasury Secretary Speculation
The U.S. Dollar faced a sell-off during the Asian session as market sentiment shifted with speculation around Donald Trump’s potential Cabinet appointments.
PU Prime
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2 dagar sedan
Yen Strengthens on BoJ Speculation, Euro Struggles Amid Trade Tensions
The Japanese yen saw notable appreciation overnight, with USD/JPY dipping below the critical 155.00 level. This movement was spurred by comments from Bank of Japan (BoJ) Governor Kazuo Ueda, who avoided providing a definitive stance on whether the central bank might pivot its policy at the December meeting.
ACY Securities
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3 dagar sedan