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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417 days ago
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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Stimulus is taking effect: China's economy is accelerating
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Stimulus is taking effect: China's economy is accelerating
FxPro
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6h 33min ago
Dollar battles to maintain recent gains
Trump uses tariffs as leverage to end the Ukraine-Russia conflict; Risk-on sentiment remains intact as earnings season picks up speed; US CPI report in focus, could cement a July Fed rate pause; Heavy profit-taking in cryptos; oil slides after testing key resistance;
XM Group
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13h 0min ago
China’s GDP Surprise Boosts Risk Currencies, CPI Eyed
China’s Q2 GDP surprise at 5.2% YoY sparked a positive reaction across global markets on July 15, 2025. Commodity currencies like AUD and NZD advanced modestly, while Gold hovered near $3,350 ahead of key U.S. CPI data. The Japanese Yen weakened despite safe-haven flows, as 10-year JGB yields hit their highest since 2008, highlighting BoJ-Fed policy divergence.
Moneta Markets
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13h 20min ago
GBP/USD at breaking point: Will the bulls roar back?
GBP/USD falls below SMAs but one last opportunity for rebound remains. Short-term signals point to oversold conditions; eyes on 1.3400.
XM Group
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13h 22min ago
EBC Markets Briefing | Silver stabilises at over 10-year high
Silver was little changed on Tuesday after Trump escalated trade tensions with Mexico, the top producer. It has gained about 32% this year.
EBC Financial Group
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13h 33min ago
Bitcoin corrects, but the market is not worried
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin corrects, but the market is not worried
FxPro
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13h 46min ago
Gold Holds Steady but Could Rise on Tariff Developments
The price of gold remains stable at $3,354 per troy ounce this Tuesday, recovering some of the previous day’s losses. Market attention remains firmly fixed on US trade policy developments.
RoboForex
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14h 49min ago
What Can a Broker Really Do for Children in a Slum? EBC Finds Out with the Foundation for Slum Child Care
EBC visited the Foundation for Slum Child Care in Klong Toey, donating essentials and funding meals to support 55 underprivileged children.
EBC Financial Group
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18h 52min ago