Forex Market Report - 13/05/2024
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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34 days ago
Forex Market Report
1. Analysis Report - Monday 13th May 20241. USD and Major Currencies:
- The US Dollar is poised to respond to the upcoming US CPI data, influencing key currency pairs such as EUR/USD, USD/JPY, and GBP/USD.
- EUR/USD remains in a bearish trend, with a prevailing sentiment that favours the short position.
- The GBP/USD pair exhibits mixed sentiment, suggesting indecision among traders as they navigate ongoing economic signals.
2. Asian Market Outlook:
- The Nikkei 225 is currently under pressure, indicating potential concerns about economic stability in the region.
- FTSE 100 continues to reach new highs, reflecting a positive sentiment among traders about economic prospects in the UK.
- Asian markets are displaying cautious trading patterns, likely due to mixed economic data from the region.
3. Commodities Update:
- Gold continues to hold a bullish stance, with traders likely increasing their net long positions as a hedge against uncertainty.
- Crude oil shows mixed trading sentiment, influenced by geopolitical developments and changes in U.S. strategic reserves.
- Precious metals, including silver, are seeing renewed interest, suggesting a shift toward safe-haven assets amidst fluctuating markets.
4. Market Sentiment and Indices:
- Wall Street is bullish, although recent gains in indices such as the Dow and Nasdaq have been somewhat moderated.
- S&P 500’s performance remains a key indicator, reflecting broader market sentiments and economic forecasts.
- Equity markets are closely watching corporate earnings and economic data to gauge the potential for continued growth.
5. Economic Indicators and Forecasts:
- The release of US CPI data is highly anticipated, with significant potential impacts on market movements and trading strategies.
- Traders are monitoring economic indicators to assess the likelihood of changes in the Federal Reserve's monetary policy.
- Global economic indicators, including employment data and manufacturing outputs, are critical in shaping market expectations and currency strengths.
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Daily Global Market Update
GBP/USD dipped 0.2%, Bitcoin plunged 2.1%, Oil fell 0.4% but indicator positive. AUD/USD down 0.4%. Terraform Labs to close, US producer prices down, Oil mixed. Upcoming events: US Export Price Index, Eurogroup meeting, US Michigan Consumer Sentiment Index.
Moneta Markets
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2 days ago
Dollar Rebounds, Fed Dot-Plot Signals Just One Rate Cut This Year
The Dollar Index (DXY)shrugged off softer than expected US Producer Prices, instead climbing 0.5% to 105.25 from 104.70 yesterday. The US Federal Reserve signaled just one rate cut this year, from three previously.
ACY Securities
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2 days ago
Dollar Gains on Hawkish Fed Outlook
After digesting Jerome Powell's comments following the FOMC interest rate decision on Wednesday, the dollar erased all its losses from the soft CPI reading, continuing its upward trajectory. The hawkish outlook from the Fed stimulated dollar strength against its peers, while the bullish momentum in equity markets was hindered by the prospect of prolonged high interest rates.
PU Prime
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2 days ago
Forex Market Report - 14th 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
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2 days ago
Euro Slides on France Uncertainty; ECB Cautious after Rate Cut
The Euro (EUR/USD) slid to a 5-week low at 1.0740 (1.0800) as political instability in France weighed on the shared currency. French President Emmanuel Macron called for a snap legislative election.
ACY Securities
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2 days ago
Upcoming FOMC Meeting and Global Implications
As we get ready for the upcoming Federal Open Market Committee (FOMC) meeting on June 13 at 4 AM Sydney time, there's a lot of focus on what changes might come to policy rates and economic projections.
ACY Securities
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2 days ago
US Dollar declines as Fed signals potential rate cut and inflation eases
The EUR/USD pair is holding steady around 1.0805 on Thursday, following a surge in volatility the previous evening. The Federal Reserve concluded its meeting with a neutral stance, maintaining the interest rate at 5.25% per annum as anticipated.
RoboForex
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3 days ago
Soft CPI Hammers Dollar
the U.S. CPI came in lower than market consensus, indicating easing inflation and boosting risk appetite.
PU Prime
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3 days ago
