Forex Market Report - 17/05/2024

This 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.

Forex Market Report

1. US Economic Data Releases

  • Retail Sales: Upcoming retail sales data is expected to provide insight into consumer spending trends and economic health.
  • Jobless Claims: Initial jobless claims will offer an updated view on the labour market's condition and potential shifts in employment.
  • Manufacturing PMI: The latest Manufacturing PMI figures will indicate the sector's performance and potential inflationary pressures.

2. Eurozone Developments

  • ECB Meeting Minutes: The release of the European Central Bank's meeting minutes may shed light on future monetary policy decisions.
  • Germany’s Economic Sentiment: ZEW Economic Sentiment Index for Germany will reflect investor confidence in Europe's largest economy.
  • Inflation Data: Eurozone inflation numbers are crucial for assessing the ECB’s next moves regarding interest rates.

3. UK Economic Indicators

  • GDP Growth Rate: The UK's latest GDP figures will reveal the economy's growth pace and potential recovery trajectory.
  • Inflation Rate: Updated inflation data could influence the Bank of England's stance on interest rates and monetary policy.
  • Employment Statistics: Employment and wage growth figures will provide insights into the labour market's strength and consumer spending capacity.

4. Asia-Pacific Focus

  • China’s Industrial Production: The latest data on China's industrial output will indicate the health of its manufacturing sector and broader economy.
  • Australia’s Employment Data: Employment figures will be key in understanding the strength of the labour market and potential rate decisions by the RBA.
  • Japan’s GDP: Preliminary GDP data for Japan will provide an outlook on the country's economic performance and recovery efforts.

5. Geopolitical and Market Sentiment

  • US-China Trade Relations: Developments in trade talks and policies between the US and China could impact global market sentiment and trade dynamics.
  • Middle East Tensions: Ongoing geopolitical tensions in the Middle East might affect oil prices and market stability.
  • Equity Market Performance: Global equity markets' performance will be monitored for risk appetite and potential shifts in investor sentiment.
DNA Markets
Type: ECN
Regulation: ASIC (Australia), IFC (St. Lucia)
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Dollar slides as US government shutdown looms

Dollar slides as US government shutdown looms

US government shuts down tonight if no spending bill passes - Shutdown could suspend the release of jobs report - Wall Street closes in the green, gold hits fresh record high - RBA stands pat, aussie gains on hawkish tilt
XM Group | 11h 52min ago
The cryptocurrency market soared to extremes

The cryptocurrency market soared to extremes

The cryptocurrency market capitalisation soared by 4% over the past day to $4.07 trillion.The cryptocurrency market capitalisation soared by 4% over the past day to $4.07 trillion
FxPro | 14h 14min ago
Risk sentiment weakens as US government shutdown commences

Risk sentiment weakens as US government shutdown commences

US federal government shuts; markets digest developments; Barring an agreement, Friday’s jobs report will not be published; Focus today on ADP and ISM survey; Fedspeak calendar is light; Gold rally continues; oil stabilizes after reports of 500k bpd increase are dismissed;
XM Group | 1 day ago