Forex Market Report - 10/05/2024
This Forex Market Report provides a snapshot of key economic and financial developments influencing the global forex markets. Traders can monitor these factors closely to adjust their strategies accordingly.
DNA Markets
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12 dias atrás
Forex Market Report
1. Central Bank Outlooks:
- Goldman Sachs expects a "soft landing" for the U.S. economy, projecting a gradual economic deceleration without a severe downturn.
- UBS anticipates that U.S. inflation will begin to trend lower soon, which may strengthen the case for future rate cuts if inflation approaches the Federal Reserve's target.
- Federal Reserve official Kashkari suggests that the Fed might not cut interest rates this year if inflation remains static.
2. Australian Economic Indicators:
- The Australian cash rate remains steady at 4.35% as confirmed by the Reserve Bank of Australia (RBA).
- Australia's Consumer Price Index (CPI) showed a slower increase than expected in the first quarter of 2024, indicating less pressure on inflation.
- Upcoming economic statements from the RBA are highly anticipated for indications of future monetary policy direction.
3. European Economic Data:
- Germany's factory orders showed a slight decline month-on-month, indicating potential softening in industrial demand.
- The French preliminary private payrolls increased slightly, suggesting a mild improvement in the employment sector.
- The Eurozone's economic focus remains on retail sales and trade balances, providing insights into consumer behaviour and international trade dynamics.
4. U.K. Economic Highlights:
- The Halifax House Price Index (HPI) in the U.K. reported marginal growth, which could signal a stabilization in the housing market.
- The British Retail Consortium (BRC) Retail Sales Monitor indicated a sharper decline than expected, reflecting potential consumer cautiousness.
- Upcoming data on the U.K.'s construction sector PMI will be critical for gauging the overall economic health.
5. Market Volatility and Currency Strength:
- The forex market is currently experiencing fluctuations with notable strength in specific major currencies.
- Traders are focusing on currency pairs that have shown significant movement, either gaining or losing value rapidly.
- Market participants are advised to keep a close watch on economic indicators and central bank announcements that could influence market volatility and currency strength.
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UK Inflation distanced the expected rate cut
Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: UK Inflation distanced the expected rate cut
FxPro
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14 h 19 min atrás
Dollar under pressure as Fed speakers multiply
FOMC minutes in the spotlight today. Mixed UK CPI probably keeps the door closed to a June move. RBNZ surprises with its hawkishness; kiwi benefits. Nvidia reports after the US market close
XM Group
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18 h 20 min atrás
The New Zealand Dollar shows a steady rise
The NZD/USD pair is preparing for a mid-week rally, approaching the 0.6116 level. These current values mark the highest point for the Kiwi in two months, following the Reserve Bank of New Zealand's decision to maintain its monetary policy structure unchanged during the May meeting.
RoboForex
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18 h 20 min atrás
Daily Global Market Update
Bitcoin fell 2.5%, with further declines likely. Apple's stock rose 0.6%, showing bullish trends. The AUD/USD pair remained stable but has a negative outlook. Gold dipped 0.2% and is overbought. Globally, gold prices held near record highs as the dollar stayed strong, with anticipated U.S. rate cuts.
Moneta Markets
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19 h 7 min atrás
Bitcoin waits for the Ethereum story to develop
Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin waits for the Ethereum story to develop
FxPro
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19 h 28 min atrás
DXY Edges Higher on Fed Speak, JPY Weakens Past 156
Remarks from Federal Reserve Governor Waller that interest rate cuts are probably several months away lifted the Dollar Index (DXY) to 104.65 from 104.50 previously.
ACY Securities
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21 h 9 min atrás
Low Volatility and Central Bank Policies Highlight EUR/USD Trends
Global currency markets have seen very limited action today, primarily because there have been no major data releases on the schedule, and uncertainty about central bank policy divergence remains in play.
ACY Securities
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21 h 10 min atrás
Dollar Dilemma: FOMC Caution
The US Dollar remained subdued as investors awaited the FOMC meeting minutes, with Federal Reserve officials emphasising the need for more evidence of easing inflation before considering rate cuts. This cautious stance has kept the dollar in check, influencing other markets as well.
PU Prime
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1 dia atrás