Daily Global Market Update

Euro up 0.4% with bullish signal. Dollar gained on yen, but may drop (stochastic). Gold rose 0.3%, supported by stochastic. Alibaba stock surged 1.1% (stochastic). US dollar fell due to weak jobs data, affecting rate plans. Bank of Canada holds 5% rate. UK borrowing slows amid higher costs. Upcoming: US jobless claims, Eurozone prices, more.

Euro's Promising Outlook

The euro appreciated by 0.4% against the dollar in its recent session. The Williams R indicator indicates a bullish trend.

 

 

Dollar's Slight Movement Against the Yen

The dollar noted a marginal 0.1% uplift against the yen in the preceding session. The stochastic indicator, however, hints at a potential decline.

 

 

Gold's Forward Momentum

Gold posted a 0.3% gain against the dollar in the latest session, with the stochastic indicator affirming a bullish trajectory.

 

 

Alibaba's Rising Fortunes

Alibaba's stock surged by 1.1% in the recent session, aligning with a bullish indication from the stochastic indicator.

 

 

Key Financial Developments

The US dollar experienced its most significant drop in six weeks, with analysts linking this to milder-than-anticipated US employment data, potentially affecting the Federal Reserve's rate hike plans. In Canada, expectations are high that the Bank of Canada will maintain its interest rates at 5% through to the end of March 2024. Meanwhile, in the UK, a slowdown in borrowing during July could indicate rising household caution amidst escalating borrowing costs.

 

Anticipated Economic Announcements

A brief overview of upcoming economic releases:

• US Initial Jobless Claims - 1230 GMT

• US Personal Income - 1230 GMT

• Eurozone Harmonized Index of Consumer Prices - 0900 hours GMT

• Germany's Unemployment Rate - 0755 GMT

• Japan's Annualised Housing Starts - 0500 hours GMT

• Japan's Construction Orders - 0500 hours GMT

Regulation: FSA (Seychelles), FSCA (South Africa)
read more
Risk-on sentiment fades as tariffs return to the spotlight 

Risk-on sentiment fades as tariffs return to the spotlight 

Dollar surrenders gains posted after robust labour market report; Trump celebrates US budget bill approval; scheduled to sign it today; Most Fed members feel more comfortable as July rate cut is priced out; Oil steadies near $66, gold rally retains momentum;
XM Group | 37 minutes ago
ATFX Market Outlook 4th July 2025

ATFX Market Outlook 4th July 2025

The U.S. economy added 147,000 jobs in June, beating expectations of 110,000, while the unemployment rate fell to 4.1%. Traders are now betting that the Fed is unlikely to cut rates before September. Meanwhile, the House narrowly passed Trump's major fiscal bill by a vote of 218 to 214. U.S. stocks rallied on Thursday, hitting fresh record highs.
ATFX | 6h 12min ago
Nonfarm payrolls take center stage

Nonfarm payrolls take center stage

Slide in US private payrolls raise concerns about NFP miss - US strikes trade deal with Vietnam ahead of July 9 deadline - Pound feels the heat of fiscal shenanigans - S&P 500 hits fresh record high ahead of jobs report
XM Group | 23h 42min ago
Rate Shifts Steer FX Markets as Silver Holds Strong

Rate Shifts Steer FX Markets as Silver Holds Strong

On July 3, silver stays firm above $35.40 as Fed cut bets persist. EUR/USD holds near 1.1800, while GBP/USD lingers near 1.3585 ahead of UK jobs data. JPY strengthens after BoJ signals a hawkish pause. AUD/USD slips on weak trade surplus. Focus turns to US NFP and ISM data for market direction before the US holiday break.
Moneta Markets | 1 day ago