Forex Market Report - 13/05/2024
This Forex Market Report provides a snapshot of key economic and financial developments influencing the global forex markets. Traders can monitor these factors closely to adjust their strategies accordingly.
DNA Markets
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43 dagar sedan
Forex Market Report
1. Analysis Report - Monday 13th May 20241. USD and Major Currencies:
- The US Dollar is poised to respond to the upcoming US CPI data, influencing key currency pairs such as EUR/USD, USD/JPY, and GBP/USD.
- EUR/USD remains in a bearish trend, with a prevailing sentiment that favours the short position.
- The GBP/USD pair exhibits mixed sentiment, suggesting indecision among traders as they navigate ongoing economic signals.
2. Asian Market Outlook:
- The Nikkei 225 is currently under pressure, indicating potential concerns about economic stability in the region.
- FTSE 100 continues to reach new highs, reflecting a positive sentiment among traders about economic prospects in the UK.
- Asian markets are displaying cautious trading patterns, likely due to mixed economic data from the region.
3. Commodities Update:
- Gold continues to hold a bullish stance, with traders likely increasing their net long positions as a hedge against uncertainty.
- Crude oil shows mixed trading sentiment, influenced by geopolitical developments and changes in U.S. strategic reserves.
- Precious metals, including silver, are seeing renewed interest, suggesting a shift toward safe-haven assets amidst fluctuating markets.
4. Market Sentiment and Indices:
- Wall Street is bullish, although recent gains in indices such as the Dow and Nasdaq have been somewhat moderated.
- S&P 500’s performance remains a key indicator, reflecting broader market sentiments and economic forecasts.
- Equity markets are closely watching corporate earnings and economic data to gauge the potential for continued growth.
5. Economic Indicators and Forecasts:
- The release of US CPI data is highly anticipated, with significant potential impacts on market movements and trading strategies.
- Traders are monitoring economic indicators to assess the likelihood of changes in the Federal Reserve's monetary policy.
- Global economic indicators, including employment data and manufacturing outputs, are critical in shaping market expectations and currency strengths.
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EURUSD, USDCAD, AUDUSD
US Core PCE index could affect EURUSD’s performance; Canadian CPI expected to fall; USDCAD still falling; AUDUSD may remain in range after Australian CPI
XM Group
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2h 23minuter sedan
Gold Edge Higher on Soft Dollar
In the commodity market, gold and oil prices edged higher in the last session mainly due to the easing of the dollar.
PU Prime
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8h 34minuter sedan
Euro rises against German Business Climate decline
Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Euro rises against German Business Climate decline
FxPro
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1 dag sedan
Daily Global Market Update
Oil dipped slightly, while currencies remained mostly flat. Gold tumbled on strong US data, stocks dipped slightly. Watch for economic data releases today from US, Eurozone, Germany, Japan and UK.
Moneta Markets
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1 dag sedan
Dollar Index (DXY) Pushes Higher on Strong S&P PMI Data
Solid US S&P Manufacturing and Services PMIs lifted the Dollar Index (DXY) to105.80, from 105.65, its strongest finish since late April. A surge in Services to 55.1, which beat estimates at 53.4, strengthened the case for fewer Fed rate cuts. The solid state of the US economy kept bond yields steady, at their recent highs.
ACY Securities
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1 dag sedan
USDJPY Testing the 160.000 Boundaries Again: Will BoJ Intervention Drag USDJPY Down?
The Japanese yen has been steadily losing ground in Asian trading, with USD/JPY rising above 159.00. This brings it close to its highest point of the year, 160.17, seen back in late April. Despite efforts by Japan to stabilize the yen in April and May, the currency has resumed its decline.
ACY Securities
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1 dag sedan
Japan Warns for Market Intervention to Protect Yen
Japan's top currency official has heightened concerns by stating that Japanese authorities are prepared to intervene in the currency market around the clock if necessary.
PU Prime
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1 dag sedan
The yen is falling again: the devaluation scenario remains the main one
The Japanese yen is weakening against the US dollar again. The USD/JPY pair is rising to 158.97. The currency pair is now again close to the levels when the Bank of Japan and the country's authorities conducted currency interventions.
RoboForex
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4 dagar sedan