Forex Market Report - 19th June 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
|
813 days ago
1. Federal Reserve Policy Meeting
- The Federal Reserve is set to announce its interest rate decision today, with markets anticipating a potential rate hike.
- Key focus will be on the Fed's statement and press conference for insights into future monetary policy direction.
- Traders should watch for volatility in USD pairs and US equity markets following the announcement.
2. Eurozone Inflation Data
- Latest CPI data for the Eurozone will be released, providing crucial insights into inflationary pressures.
- Expectations are for a slight decrease in inflation, which could influence ECB's policy stance.
- EUR/USD and EUR/GBP pairs might experience significant movements based on the inflation figures.
3. UK Employment Figures
- The UK is publishing its latest employment data, including the unemployment rate and average earnings.
- A lower unemployment rate and higher earnings growth could bolster the GBP, signaling economic resilience.
- Market participants should monitor GBP/USD and GBP/JPY for potential reactions.
4. China Economic Indicators
- China will release industrial production and retail sales data, key indicators of economic health.
- Recent lockdowns and trade tensions may reflect negatively in these figures, affecting market sentiment.
- AUD/USD and NZD/USD could be impacted due to their close economic ties with China.
5. Crude Oil Inventories Report
- The EIA will publish its weekly crude oil inventories report, with current forecasts predicting a drawdown.
- A larger than expected drawdown could push oil prices higher, influencing commodity currencies like CAD and NOK.
- Traders should keep an eye on USD/CAD and crude oil futures for potential trading opportunities.
read more
Oil Surge Pressures US Stocks as Markets Await Inflation Data
🛢️ Iran targets US Navy vessels, US strikes Iranian tankers near Kharg Island — Brent approaches $100 at $99.05, WTI at $94.04. Oil +8% in September. Dow drops 628 points. Goldman raises December Brent forecast to $85. JPY strengthens on BoJ hike bets. ADP and Lagarde speech due today.
CPT Markets
|
18h 56min ago
The euro is banking on the ECB
The euro is rising on expectations of an ECB tightening cycle, but Lagarde’s cautious stance and a possible decline in US Treasury yields could trigger a sell-off in EURUSD.
FxPro
|
19h 9min ago
EBC Markets Briefing | Euro eyes more gains on mounting dollar debasement risks
ECB rate hikes face limited room as resilient growth and rising energy costs support tightening, while gas risks and dollar weakness shape markets.
EBC Financial Group
|
1 day ago
Yen Hits 6-Month High, Volatility Returns After North American Holiday.
US markets were closed yesterday for a bank holiday, limiting overall market activity. The US dollar weakened as the Japanese yen surged, while crude oil extended gains amid escalating tensions in the Middle East. Iran warned it could target energy infrastructure across the region if the US launches further attacks on Iranian assets.
ATFX
|
1 day ago
EUR/USD Holds Its Rising Channel as 1.1641 Breakout Awaits ECB and U.S. CPI
EUR/USD is trading around 1.1626 inside a rising 4-hour channel that has developed from the September swing low near 1.1584. Price remains above the rising 200-period WMA near 1.1597 and has recovered above the Bollinger basis, preserving the short-term sequence of higher reaction lows. The setup is constructive, but not yet impulsive.
Errante
|
2 days ago
Gold, EURUSD, OIL
US CPI data Set to Dictate Gold’s direction; ECB rate decision and EURUSD: Policy guidance in focus; Middle East conflict elevate WTI Crude oil
XM Group
|
2 days ago
EUR/USD Holds Above 1.1600 Despite Strong US Jobs Report
A stronger-than-expected US jobs report initially lifted the dollar, but EUR/USD remained resilient as traders looked ahead to the ECB meeting and key US inflation data.
VT Markets
|
2 days ago
US Payrolls Hit 5-Month High as Markets Await CPI This Week.
U.S. and Canadian markets are closed for the holidays. With investors digesting nonfarm data and Middle East tensions high, traders should watch for unusual price swings amid low liquidity. Eurozone Q2 GDP is expected to be 0.4%, which could affect Thursday’s ECB meeting.
ATFX
|
2 days ago
