Forex Market Report - 3rd 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.

1. US Federal Reserve Interest Rate Decision 

  • The Federal Reserve is expected to announce its interest rate decision today.
  • Market participants anticipate a potential rate hike due to ongoing inflation concerns.
  • Traders should monitor the Fed's statement for insights into future monetary policy directions. 

2. Eurozone Inflation Data Release

  • The latest inflation data for the Eurozone is set to be released, with expectations of a slight increase.
  • Rising energy prices and supply chain disruptions are likely contributing factors.
  • The data could influence the European Central Bank's stance on monetary policy adjustments. 

3. China's Trade Balance Figures

  • China will publish its trade balance figures, which are expected to show a surplus.
  • Export growth may be slowing due to weakened global demand and trade tensions.
  • The trade data will provide insights into the health of China's economy and its impact on global markets.

4. OPEC+ Meeting Outcomes

  • OPEC+ is holding a meeting to discuss oil production levels amidst fluctuating prices.
  • Potential decisions on production cuts or increases will impact oil prices significantly.
  • Traders should keep an eye on any announcements as they can affect energy markets and related currencies.

5. UK GDP Growth Report

  • The UK is set to release its GDP growth report, with moderate growth expected.
  • Economic recovery efforts and consumer spending trends will be key focus areas.
  • This report will be crucial for assessing the strength of the UK's economic rebound and its currency implications.

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DNA Markets
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Regulation: ASIC (Australia), IFC (St. Lucia)
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Central banks are in the spotlight this week

Central banks are in the spotlight this week

• Increased risk appetite divides G10 currencies • The US and Canada intend to lower rates. • The ECB and BoJ have opted for a wait-and-see approach. • Japan may resume interventions.
FxPro | 21h 55min ago
Risk appetite improves on US-China trade deal optimism

Risk appetite improves on US-China trade deal optimism

Wall Street jumps to record highs on US CPI miss, solid earnings - Asian equities and stock futures gain on hopes of US-China trade deal - Spotlight turns on Trump-Xi meeting, central banks and tech earnings - Risk-linked currencies gain, gold pulls back on safe-haven outflows
XM Group | 22h 3min ago