Forex Market Report - 5th July 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.
DNA Markets
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365 days ago
1. US Non-Farm Payrolls (NFP) Report
- The NFP report showed a stronger-than-expected job growth, indicating a robust labor market.
- This data has increased speculation about further Federal Reserve interest rate hikes.
- The US dollar gained strength across the board following the release.
2. Eurozone Inflation Data
- Recent inflation figures from the Eurozone came in lower than anticipated, suggesting easing price pressures.
- The European Central Bank may reconsider its aggressive rate hike strategy.
- The euro experienced downward pressure against major currencies in response.
3. OPEC+ Meeting Outcomes
- OPEC+ agreed to maintain current production levels despite global economic uncertainties.
- Crude oil prices stabilized, providing some relief to oil-dependent currencies.
- The decision has been interpreted as a balancing act between supporting prices and avoiding market oversupply.
4. Chinese Economic Data
- China's latest manufacturing PMI fell below the 50-mark, indicating contraction.
- Concerns about China's economic slowdown have impacted commodity currencies like the AUD and NZD.
- The People's Bank of China may implement further stimulus measures to support growth.
5. UK Political Developments
- Ongoing political instability in the UK, including cabinet reshuffles and policy uncertainties, has affected market sentiment.
- The British pound remains volatile amid speculation about potential changes in fiscal and monetary policies.
- Investors are closely monitoring developments for any signs of stability or further disruptions.
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Deriv
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20h 7min ago
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
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23h 48min ago
USDCAD shrugs off upbeat US jobs data
USDCAD fails to rebound despite stronger US nonfarm payrolls. Bearish trend likely to continue; next support near 1.3455.
XM Group
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1 day ago
Dollar Mixed as Tariff Tensions Rise and Jobs Data Buoys Fed Outlook | 4th July, 2025
On July 4, strong U.S. jobs data boosts the dollar, but Trump’s tariff warning sparks trade uncertainty. USD/CAD dips near 1.3600 as oil rebounds; AUD/USD slips below 0.6650. NZD/USD holds near 0.6050, GBP/USD steadies at 1.3650, and USD/CNY stays firm as PBOC signals caution. Markets eye ISM data and tariff updates for next moves.
Moneta Markets
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1 day ago
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
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1 day ago
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
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1 day ago
Gold declines as trade optimism reduces safe-haven demand, while a weak dollar limits losses
On Thursday, the price of gold fell to 3,340 USD per troy ounce, partially correcting the previous day’s gains. The decline reflects growing optimism over trade agreements, which reduced demand for gold as a safe-haven asset.
RoboForex
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2 days ago
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
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2 days ago
