Forex Market Report - 8th 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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794 days ago
1. US Economic Data Releases
- Nonfarm Payrolls: Expected to show significant job growth, influencing USD strength.
- Unemployment Rate: Anticipated to remain steady; any deviation could affect market sentiment.
- Inflation Data: CPI figures to be released; higher-than-expected numbers may prompt Fed policy shifts.
2. Eurozone Economic Indicators
- Industrial Production: Recent data shows a decline, raising concerns about economic slowdown.
- Consumer Confidence: Lower confidence levels reported, potentially weakening EUR.
- ECB Meeting Minutes: Insights into future monetary policy actions; dovish tones may pressure EUR.
3. Central Bank Activities
- Federal Reserve: Recent comments from Fed officials suggest a cautious approach to rate hikes.
- European Central Bank: Possible indications of prolonged accommodative policy due to economic uncertainties.
- Bank of Japan: No immediate policy changes expected, but ongoing discussions on yield curve control.
4. Geopolitical Tensions
- US-China Relations: Trade tensions persist with new tariffs discussions; impact on global risk sentiment.
- Russia-Ukraine Conflict: Continued conflict affecting energy prices and market stability.
- Middle East Developments: Rising tensions in the region could lead to increased volatility in oil prices.
5. Commodity Market Movements
- Oil Prices: Fluctuating due to geopolitical risks and supply concerns; potential impact on commodity-linked currencies.
- Gold Prices: Safe-haven demand remains strong amid economic uncertainties; influencing AUD and CAD.
- Agricultural Commodities: Weather conditions and supply chain issues affecting prices; relevant for emerging market currencies.
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The yen is strengthening before our very eyes
The yen may continue strengthening as capital returns to Japan, pressuring USDJPY amid expectations of BoJ tightening and broad dollar weakness.
FxPro
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10 minutes ago
The Inflation Measure Keeping the Fed Cautious
Shelter costs are cooling slower than the broader rental market, creating a gap between official inflation data and real-world conditions that could shape future rate expectations.
VT Markets
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40 minutes ago
US Yields Rise Despite Buybacks; Eyes on ECB Hike
Tensions escalated as the U.S. and Iran engaged in the largest maritime exchange in six months near the Strait of Hormuz, pushing Brent crude above $100/bbl. U.S. equities remained under pressure, Treasury yields rose even after the Treasury tripled long‑term bond buybacks, and a softer dollar supported gold.
ATFX
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44 minutes ago
Bitcoin edges lower for a 4th day, capped by the 50-week MA
Bitcoin is pulling back from the 50-week MA, the crypto market is awaiting signals from the Fed and inflation data, while the golden cross supports a bullish medium-term scenario.
FxPro
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44 minutes ago
GBPUSD (4H) recovery holds above 1.3550, 100-SMA remains key hurdle
GBPUSD holds a recovery bias but stays within a broader range as the 100-SMA caps momentum. Watch a break above 1.3600 for upside or a drop below 1.3520 to shift lower.
XM Group
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1h 10min ago
Apple Stock Slips After iPhone 18 Launch as AI Growth Expectations Remain in Focus
Investors are assessing whether Apple’s latest AI upgrades and product cycle can support future growth beyond the iPhone ecosystem.
VT Markets
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2h 2min ago
US Treasury Triples Long-Term Bond Buyback Size
🚨 Iran attacks 10 vessels near Hormuz after US sinks 5 Iranian tankers — biggest shipping clash of the conflict. Brent tops $100 to $101.21, WTI at $96.05. Goldman warns $120 oil possible. 10Y yields hit 4.85%, highest since Nov 2023. Gold rises 1.5% to $4,418. ECB hikes 25bps today. PPI due.
CPT Markets
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2h 31min ago
Oil Breaks Above $100 as Supply Risks Push Brent Higher
Brent crude gains momentum as Middle East tensions raise supply concerns, while traders watch inflation risks and the next market catalyst.
VT Markets
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2h 41min ago
