Forex Market Report - 3rd 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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493 दिनों पहले
1. US Economic Data Releases
- Non-Farm Payrolls: The upcoming release is expected to show a significant increase in job creation, which could bolster the USD.
- ISM Manufacturing PMI: A decline is anticipated, signaling potential weakness in the manufacturing sector.
- Federal Reserve Minutes: Insights into the Fed’s views on inflation and future rate hikes will be closely watched.
2. Eurozone Economic Developments
- German Industrial Production: A decrease is projected, highlighting ongoing challenges in Europe’s largest economy.
- ECB Policy Statements: Remarks on inflation control and monetary policy adjustments are critical for EUR direction.
- Eurozone Inflation Data: Rising inflation figures may prompt the ECB to consider more aggressive policy measures.
3. Asian Market Movements
- China’s Trade Balance: A narrowing surplus is expected, reflecting global trade dynamics and domestic economic shifts.
- Bank of Japan’s Stance: Continued dovish policies could keep the JPY under pressure against other major currencies.
- Australian Retail Sales: A slowdown in consumer spending might influence RBA’s interest rate decisions.
4. Geopolitical Tensions
- US-China Relations: Ongoing trade and technology disputes are affecting market sentiment and risk appetite.
- Russia-Ukraine Conflict: Continued instability and sanctions are impacting energy markets and EUR performance.
- Middle East Developments: Any escalation in the region could lead to volatility in oil prices and safe-haven assets.
5. Commodity Price Fluctuations
- Oil Prices: Fluctuations due to OPEC+ production decisions and global demand outlooks are influencing CAD and NOK.
- Gold Market: Safe-haven demand is increasing amid global economic uncertainties and inflation concerns.
- Agricultural Commodities: Weather patterns and supply chain issues are affecting prices, impacting currencies of export-reliant countries.
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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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1 दिन पहले
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
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1 दिन पहले
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
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1 दिन पहले
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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1 दिन पहले
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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1 दिन पहले
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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1 दिन पहले
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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1 दिन पहले
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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1 दिन पहले
