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The British Pound, Australian Dollar, and oil (WTI) all fell against the US Dollar. Bitcoin also dropped. The European Central Bank kept interest rates the same but lowered its growth forecast for the Eurozone. Investors are watching economic data releases today, including the US Baker Hughes Oil Rig Count and UK Retail Sales, for clues about the global economic climate.

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.

During the Asian trading session, the New Zealand dollar (NZD) saw significant movement following the latest Consumer Price Index (CPI) report. This report resulted in the NZD/USD rate rising to an intra-day high of 0.6082 and the AUD/NZD rate dropping to an intra-day low of 1.1073.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: UK jobs data cooled the Pound

Brent crude oil has reached $85.40, marking a continued increase over two consecutive sessions. This upward trend is primarily supported by recent US energy inventory statistics, which showed a significant decrease of 4.87 million barrels against an anticipated decline of 0.8 million barrels.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto market cools off after spurt

The dollar firmed on Thursday after hitting a four-month low, as growing expectations of Fed rate cuts weighed on the greenback and Treasury yields.

The attempted assassination of presidential candidate Donald Trump during a campaign rally in Pennsylvania on 13 July 2024 couldn’t knock US stocks from record levels. Instead, the S&P 500 gained 0.3%, and the Nasdaq Composite added 0.4%.

Stocks under pressure but dollar fails to make gains. ECB meets today, unlikely to produce a dovish shift. Pound ignores data; yen continues to rally against the dollar

The S&P 500 and Nasdaq 100 tumbled Wednesday due to tech sector rotation. The Dow gained modestly, marking its third straight record-closing high.

The Euro strengthened against the USD (up 0.3%) while USD weakened against the Yen (down 1.3%). Gold dipped slightly but technical indicators suggest potential rise. Apple stock dipped minimally. Yen gained strength on suspected intervention, NASDAQ fell sharply, Dow Jones hit record high.

The dollar continues to tumble, trading at its lowest level since April, below the $104 mark. The U.S. Beige Book suggests economic growth has moderated and inflation shows signs of easing, strengthening the likelihood of a September rate cut. Improved risk appetite in the market propelled the Dow Jones up nearly 300 points in the last session, breaking its all-time high.

The recent assassination attempt on Donald Trump over the weekend has significantly impacted financial markets. In the immediate aftermath, Trump's odds of becoming the next President soared, alongside a sharp increase in the odds of a Republican sweep in the upcoming elections.

The Euro outperformed its FX peers, edging higher to 1.0900 from 1.0885 previously. Markets were not expecting much from the ECB at its monetary policy meeting tomorrow.

The USD is currently influenced by two conflicting forces, each driving its path in different directions. On the positive side, the anticipation of a second presidential term for Donald Trump could lead to increased fiscal stimulus and new tariffs on US imports.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Divergence in US Indices can’t last for long

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: GBP looks stronger than USD thanks to inflation

Gold ends sideways trajectory; enters uncharted territory. Short-term bias positive but overbought signals suggest some caution. A close above 2,480 might be necessary to boost buying confidence.

Rate cut and soft landing bets propel US equities to new highs. Gold also sets a new record as US yields sink despite Trump risks. Pound and kiwi edge up on slight upside surprises in CPI data.

On Wednesday, the dollar weakened despite a brief lift from strong retail sales. Traders' attention shifted to potential September rate cuts.