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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420 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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Inflation in the US will not make the Fed's rate cut in September comfortable
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Inflation in the US will not make the Fed's rate cut in September comfortable
FxPro
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6h 17min ago
Gold approached the upper limit of the 4-month trading range
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Gold approached the upper limit of the 4-month trading range
FxPro
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6h 18min ago
Dollar extends slide ahead of PCE inflation data
Fed Governor Waller reiterates support for lower interest rates - PCE inflation data may impact Fed rate cut bets beyond September - S&P 500 and Dow Jones hit fresh record highs - Gold gains, approaches upper boundary of sideways range
XM Group
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9h 30min ago
September Market Insights: How Volatility, Institutional Flows, and Global Trends Shape Fall Trading
Despite its reputation as a weak month, September 2024 delivered broad gains across equities and emerging markets. Volatility, sector rotation, and institutional rebalancing are shaping the fall season. Here’s what traders should watch as markets shift from summer calm to autumn momentum.
Rock-West
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10h 31min ago
While the dollar is confused, the S&P 500 faces NVIDIA’s rebalancing threat
Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: While the dollar is confused, the S&P 500 faces NVIDIA’s rebalancing threat
FxPro
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11h 2min ago
August was the best month for gold since April
Gold (XAUUSD) is holding steady near USD 3,410 per ounce on Friday, just shy of its monthly high, and is set to close its second straight week with gains.
RoboForex
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11h 13min ago
EBC Markets Briefing | Aussie dollar stalls on US GDP beat
The Australian dollar wavered Friday after US Q2 GDP topped expectations, with final sales to private domestic purchasers jumping 1.9%.
EBC Financial Group
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12h 29min ago
US Dollar Surges, Global Markets Await Key Inflation Data | 29th August 2025
The US Dollar extends gains, with DXY near 98.00 ahead of key PCE data. EUR/USD drifts to 1.1650 on weak eurozone growth, while USD/JPY hovers below 147.00 after hotter Tokyo CPI. GBP/USD slips toward 1.3510 on UK fiscal concerns, and USD/CNY steadies around 7.10 as PBoC leans against yuan weakness. Traders brace for PCE to confirm—or challenge—the USD’s bullish momentum.
Moneta Markets
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12h 51min ago
