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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499 dias atrás
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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|
9 h 15 min atrás
The dollar emerging from the data fog
•The US government shutdown is over.
•Central bank policy convergence helps EURUSD.
•Political scandal causes the pound to fall.
•Japan's currency interventions are ineffective
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•Japan's currency interventions are ineffective
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