Forex Market Report - 24th May 2024
This daily 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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vor 532 Tagen
1. US Federal Reserve Policy Updates
- Interest Rate Outlook: Recent comments from Fed officials suggest a potential pause in rate hikes, focusing instead on economic data before making further decisions.
- Economic Indicators: Watch for upcoming releases of the US GDP growth rate and employment data, which could influence the Fed's policy stance.
- Inflation Concerns: Persistent inflationary pressures may compel the Fed to reconsider their current dovish stance, impacting the USD.
2. Eurozone Economic Performance
- GDP and Inflation Data: Recent reports indicate slower growth and persistent inflation in the Eurozone, raising concerns about stagflation.
- ECB Policy Signals: The European Central Bank has hinted at maintaining current interest rates while monitoring inflation trends closely.
- Geopolitical Risks: Ongoing geopolitical tensions in Eastern Europe continue to affect economic stability and investor confidence in the Eurozone.
3. China's Economic Health
- Manufacturing PMI: Latest data shows a contraction in China's manufacturing sector, signalling potential economic slowdown.
- Policy Response: The Chinese government is expected to implement fiscal and monetary measures to stimulate growth and support key industries.
- Trade Relations: Ongoing trade tensions with major economies, particularly the US, are likely to impact export-driven growth and the yuan.
4. UK Economic and Political Developments
- Brexit Impact: Continued Brexit-related trade disruptions are affecting economic performance and business sentiment in the UK.
- Bank of England Stance: The BoE is maintaining a cautious approach to rate hikes, balancing between inflation control and economic growth.
- Political Instability: Recent political upheavals and policy uncertainties are adding to market volatility, influencing the GBP.
5. Commodity Market Trends
- Oil Prices: Fluctuating oil prices due to geopolitical tensions and supply chain disruptions are impacting commodity-linked currencies.
- Gold as Safe Haven: Increased demand for gold amid global economic uncertainties is driving up prices, benefiting currencies like AUD and CAD.
- Agricultural Commodities: Weather conditions and trade policies are significantly affecting the prices of agricultural commodities, influencing economies dependent on these exports.
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Gold stabilised at $4,000, but the upward trend has already broken down
Gold steady near $4K; strong buying above $3.9K as tariff ruling fears drive investors to safe havens amid fiscal concerns.
FxPro
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vor 3Std 31 Minuten
The dollar risks losing support from tariff revenues
• The US risks losing tariff revenues.
• The American labour market is cooling down.
• EURUSD may rise to 1.21.
• The pound rose but remains under pressure.
FxPro
|
vor 4Std 58 Minuten
The dollar risks losing support from tariff revenues
• The US risks losing tariff revenues.
• The American labour market is cooling down.
• EURUSD may rise to 1.21.
• The pound rose but remains under pressure.
FxPro
|
vor 4Std 58 Minuten
ZEC as the omen of a brewing storm in crypto
Crypto market dips 1% to $3.4T. Bitcoin holds above $100K near 50-week MA; sellers may still be unloading.
FxPro
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vor 5Std 22 Minuten
ZEC as the omen of a brewing storm in crypto
Crypto market dips 1% to $3.4T. Bitcoin holds above $100K near 50-week MA; sellers may still be unloading.
FxPro
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vor 5Std 23 Minuten
Risk markets struggle on lack of bullish catalysts
US equities seek direction amidst mixed newsflow; Hawkish Fedspeak, light data calendar and the US shutdown dent risk appetite; Cryptos under heavy pressure; gold struggles to rally above $4,000; Pound gains despite dovish BoE but outlook remains clouded;
XM Group
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vor 5Std 31 Minuten
Supreme Court's Tariff Battle: A Turning Point or More Uncertainty for Global Trade?
The US Supreme Court’s tariff ruling could impact global trade. What’s at stake for investors and businesses as market uncertainty grows?
Ultima Markets
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vor 6Std 3 Minuten
EBC Markets Briefing | Crude price slide this week; AI hype cooled
Oil prices held steady Friday but were set for weekly losses as OPEC+ eyed output hikes, with Brent down 8.2% and WTI sliding 7.6% for the week.
EBC Financial Group
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vor 6Std 16 Minuten
