Weekly News 2023/08/14-2023/08/18
Index / Stocks / Crypto / Metals / Commodity & Futures / Forex
MHMarkets：Dollar consolidated in a small range, precious metals and non-US currency is weak while the US crude oil continued to strengthen!
Spot gold bottomed out in Asia on Monday (August 21) after earlier hitting a fresh more than five-month low of $1,884.70 per ounce, pressured by concerns that the Federal Reserve will keep interest rates at higher levels for longer, with the dollar index holding near a more than two-month high and US Treasury yields recouped most of Friday's losses.
MHMarkets：August 21, 2023 - Fundamental Reminder
On Friday, spot gold traded in a near-$10 range before edging up 0.03% to $1,889.42 an ounce, its fourth straight week of declines as high U.S. Treasury yields weighed on the non-interest-bearing metal. Spot silver at last check rose 0.28 percent to $22.75 an ounce, but still suffered its biggest weekly drop in nearly two months.
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Weekly Market Outlook: Focus on BRICS Summit, Flash PMIs, and Jackson Hole Symposium
Weekly Market Outlook – Get ready for a relatively quiet week on the economic front, with the spotlight shining on the business surveys and the highly anticipated Fed’s annual economic symposium. Brace yourself, as Chairman Powell’s signals about interest rates could determine the fate of the almighty dollar! With US yields on the cusp of a breakout, this event will be one you don't want to miss!
The weekly gold price has fallen for the third consecutive week Jackson Hole Global Central Bank Annual Meeting Coming The market isi focusing on Powell's Speech
The US dollar remained flat on Friday, but rose for the fifth consecutive week, setting a record for the longest consecutive rise in 15 months.
NZD/USD Navigates Bearish Waters Ahead of Key Economic Data Release
As the market continues to evolve, the NZD/USD pair is currently on a downward slope, teetering around 0.5930 as it awaits the upcoming US Initial Jobless Claims report. This trend follows a series of losses which have brought the pair to hit a low of 0.5903, a point not seen since November 2022.
Monthly Currency Market View August 2023
Even amid economic difficulties, the growth in Retail Sales has been noted at 0.7%, a significant increase from the upwardly adjusted 0.1% acceleration seen in the preceding month. This performance surpasses the market forecast of 0.2%.
EUR/GBP Price Analysis: Extends its downtrend amid GBP strength, YTD low eyed
The EUR/GBP prolongs its losses to five consecutive trading days as sellers eye a challenge of the year-to-date (YTD) low of 0.8504, sponsored by overall Sterling (GBP) strength. Although UK’s inflation figures show signs of easing, is still high, warranting further tightening by the Bank of England (BoE). Therefore, the GBP remains strong, as witnessed by the EUR/GBP trading at 0.8530, down 0.17%.
Asian Open – Hawkish FOMC sees US stocks slide again, USD rally.
Asian indices are looking to open soft in Thursday’s session after major US Indices extended their sell-off in Wednesdays session on stronger than expected US data and a “hawkish” FOMC minutes where Fed officials saw ‘upside risks’ to inflation possibly leading to more rate hikes.
Afternoon Briefing 16 Aug 2023: Oil Steady on Weak China's Data
Asian stocks tumbled as bank stocks retreated on Wall Street.
WCG Markets:2023-08-21
WCG Markets:2023-08-21
The US dollar index hovered near a two month high on Thursday Gold prices hit a five-month-low
The US dollar index hovered near a two month high on Thursday, after the Federal Reserve meeting opened the door to further interest rate hikes, and this week's data showed resilience in the US economy; Gold prices hit a five month low, with factors such as rising US Treasury yields, a strong US dollar, and hawkish views of Federal Reserve officials on interest rates affecting investor sentiment.
Notification of Change in the Leverage of US Shares
In order to provide you with better trading experiences, the leverage of US shares
MHMarkets：Dollar longs take a break, silver is stronger than gold, and U.S. crude is back under pressure at the top! Market Overview
session, but still traded above and below the key $1,900 level, with both bulls and shorts unable to determine a clear direction. This comes after the Philadelphia Fed said its manufacturing survey data rose sharply into positive territory.
MHMarkets：August 18, 2023 - Fundamental Reminder
On Thursday, spot gold showed an inverted V-shaped trend, before the U.S. market due to the dollar lower once recovered the 1900 mark, but in the initial claims data highlighting the resilience of the U.S. labor market turned sharply down below the former low of $1891.68 per ounce, which was a new low since March 13, and ultimately closed down 0.13% at $1889.37 per ounce.
Market Closure in August
Please refer to the following table for the changes in the trading hours during the month of August 2023.
Plus500 Commences New $60 Million Share Buyback Program
Plus500 announces a $60M share buyback program, reflecting confidence in its future. The firm remains vigilant against impersonators in the forex industry.
Finalto Added Russell 2000 Index to its Diverse Asset Offerings
Finalto adds the Russell 2000 Index to its tradable assets, reinforcing its dedication to diverse investments. WikiFX warns of cloned brokers; always verify on their site.
08/18 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
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