Forex Market Report - 17/05/2024
This 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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17 days ago
Forex Market Report
1. US Economic Data Releases
- Retail Sales: Upcoming retail sales data is expected to provide insight into consumer spending trends and economic health.
- Jobless Claims: Initial jobless claims will offer an updated view on the labour market's condition and potential shifts in employment.
- Manufacturing PMI: The latest Manufacturing PMI figures will indicate the sector's performance and potential inflationary pressures.
2. Eurozone Developments
- ECB Meeting Minutes: The release of the European Central Bank's meeting minutes may shed light on future monetary policy decisions.
- Germany’s Economic Sentiment: ZEW Economic Sentiment Index for Germany will reflect investor confidence in Europe's largest economy.
- Inflation Data: Eurozone inflation numbers are crucial for assessing the ECB’s next moves regarding interest rates.
3. UK Economic Indicators
- GDP Growth Rate: The UK's latest GDP figures will reveal the economy's growth pace and potential recovery trajectory.
- Inflation Rate: Updated inflation data could influence the Bank of England's stance on interest rates and monetary policy.
- Employment Statistics: Employment and wage growth figures will provide insights into the labour market's strength and consumer spending capacity.
4. Asia-Pacific Focus
- China’s Industrial Production: The latest data on China's industrial output will indicate the health of its manufacturing sector and broader economy.
- Australia’s Employment Data: Employment figures will be key in understanding the strength of the labour market and potential rate decisions by the RBA.
- Japan’s GDP: Preliminary GDP data for Japan will provide an outlook on the country's economic performance and recovery efforts.
5. Geopolitical and Market Sentiment
- US-China Trade Relations: Developments in trade talks and policies between the US and China could impact global market sentiment and trade dynamics.
- Middle East Tensions: Ongoing geopolitical tensions in the Middle East might affect oil prices and market stability.
- Equity Market Performance: Global equity markets' performance will be monitored for risk appetite and potential shifts in investor sentiment.
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EBC Markets Briefing | Loonie gains in the face of headwinds
The Canadian dollar rose Monday as falling Treasury yields offset expectations of a BOC rate cut next week due to weak GDP data.
EBC Financial Group
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3h 52min ago
EBC Daily Snapshot Jun 3, 2024
The dollar is steady as traders bet on stable US inflation for a potential Fed rate cut; the Aussie trims gains from Asian factory growth.
EBC Financial Group
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3h 52min ago
Steady start as markets digest data ahead of rate decisions and NFP
ECB cuts pared back after CPI uptick, but Fed hopes rise on softer core PCE. BoC to likely join ECB in cutting rates this week after GDP miss. Upbeat Asian PMIs boost equities ahead of US jobs report. Oil prices muted as OPEC+ decision sends mixed signals on output.
XM Group
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5h 40min ago
Brent crude oil rebounds to 81.05 USD amid OPEC+ agreements
Brent crude oil prices have rebounded to $81.05 per barrel this Monday, stabilizing after recent selling pressure. The market's focus now turns to the outcomes of the OPEC+ meeting held over the weekend, where members agreed to extend collective production cuts until the end of 2024.
RoboForex
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5h 46min ago
Forex Market Report - 3rd June 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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9h 51min ago
Daily Global Market Update
The oil-dollar pair fell by 0.7%, AUD/USD and EUR/USD were stable, and the dollar-yen traded sideways. China’s home prices rose, Tesla's CEO faces insider trading claims, and US stock indexes varied. Key economic releases include Japan’s Manufacturing PMI, US ISM Manufacturing Index, Japan’s Monetary Base, Dutch Manufacturing PMI, UK’s Retail Sales, and US ISM Manufacturing PMI.
Moneta Markets
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10h 29min ago
Soft PCE Boost Equity Market
The soft PCE reading last Friday boosted the U.S. equity market, with the expectation of a more dovish Fed monetary policy in the future.
PU Prime
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12h 34min ago
New Zealand Dollar gains for second day against US Dollar
The New Zealand dollar continues its ascent for the second consecutive session against the US dollar, resulting in the NZD/USD pair climbing to 0.6125.
RoboForex
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3 days ago