MHMarkets: August 10, 2023 - Fundamental Reminder
On Wednesday, spot gold reversed course after reaching an intraday high of $1,932.39 and accelerated below the $1,920 mark in U.S. trading before settling down 0.57% at $1,914.35 per ounce. Spot silver was blocked at the $23 mark and last traded down 0.5% at $22.66 per ounce.
08/10 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
US Set to Ban Several Chinese Investments - Reports
Numerous news outlets report that the Biden administration will unveil a much-anticipated executive order on Wednesday. The order will prohibit American venture capital and private equity firms from investing in certain segments of Chinese technology businesses. The directive is likely to regulate foreign investments particularly in Chinese firms specializing in advanced technologies like quantum computing, semiconductors, and artificial intelligence.
Stocks soften on disappointing China data
USD closed near its lows on Monday but a touch higher than Friday. This morning is seeing a better bid after disappointing Chinese trade figures soured risk sentiment. The 2-year yield continued its move lower after breaking down on Friday through long-held 50-day SMA support. The 10-year yield is falling sharply today as it nears the psychological 4% mark.
SPR and Inflation – Strategic Petroleum Reserve Hits Historic Low
The Strategic Petroleum Reserve (SPR) has served as a pillar of security for the United States since 1975, providing the capacity to react to emergencies and oil trade conflicts. The recent Ukraine conflict has prompted the SPR to assume a new function—that of combating inflation caused by the sanctions against Russia due to its invasion of Ukraine.
European Stocks Rebound on Easing Banks Tax Concerns
On Wednesday stock markets in Europe were higher as investors tried to recoup recent losses while evaluating more quarterly corporate earnings.
The US dollar fell on Wednesday, investors await today's US consumer price report Gold prices fell, hitting their lowest point in nearly a month
The US dollar fell on Wednesday, investors await today's US consumer price report Gold prices fell, hitting their lowest point in nearly a month
08/09 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Is It Best To Set A Fixed Profit Target Or Just Let A Winning Trade Run?
Imagine you are a day trader investing in an asset you believe will increase in value. You also have a fixed profit target in the first place. However, as the asset increases in value, you are now wondering that you’re missing out on potentially larger gains by not allowing the trade to run further. Should you stop trading once you hit a profit goal or let the winning trade run? Let’s discuss the wisest decision based on various scenarios!
Crude oil eases from four-month high as supply cut fears contrast with US Dollar rebound
Financial markets witness a sluggish Monday, so far, as traders struggle to justify hopes of witnessing softer interest rates amid economic fears. Adding strength to the cautious optimism is China’s stimulus to battle the typhoon fears, as well as infuse funds into the struggling property markets.
AUD/JPY holds below the 94.00 mark following the mixed Australian/Chinese data
The AUD/JPY cross struggles to gain and holds below the 94.00 mark during the early Asian session on Monday. The cross currently trades around 93.88, up 0.88% for the day. The cross struggles to gain following the mixed Australian and Chinese data earlier in the day. Investors await the Chinese Consumer Price Index (CPI) for fresh impetus.
Unleash Your Trading Skills: Vantage Hosts Epic Live Trading Competition
Vantage is hosting an electrifying showdown of trading prowess, offering a grand prize of USD20,000 to the ultimate victor. The competition is open to traders of all levels and experience, and the top 20 participants with the highest returns will earn a slice of the prize pool. The top trader will win the grand prize of USD20,000. The competition is set to take place from 1 August to 30 September 2023, and registrations are open now. For more information, please visit the Vantage website.
MHMarkets：Đồng đô la giảm trong ngày, các loại tiền tệ không phải của Mỹ và kim loại quý yếu. Bên cạnh đó, dầu thô Hoa Kỳ giảm mạnh!
Giá vàng dao động trong biên độ hẹp vào thứ Ba (8/8) tại châu Á, hiện được giao dịch gần 1.934,17 USD/ounce. Dữ liệu tương đối nhẹ và thị trường đang trong tâm trạng chờ đợi, chủ yếu chờ đợi chỉ số giá tiêu dùng (CPI) của Mỹ vào thứ Năm cho tháng 7 để làm rõ vấn đề tăng lãi suất hơn nữa.
MHMarkets：The dollar fell higher on the day, non-US currencies and precious metals were weak. Besides, US crude oil fell sharply!
Spot gold fluctuates in a narrow range on Tuesday (August 8) in Asia, currently trading near $1,934.17 per ounce. The data is relatively light and the market is in a strong wait and see mood, generally waiting for Thursday's US CPI data for July to make clear whether there will be further interest rate hikes.
MHMarkets：August 8, 2023 - Fundamental Reminder
On Monday, possibly influenced by Fed Governor Bowman's eagle, spot gold rose to an intraday high of $1946.62 before falling back, losing the 1940 mark and barely holding the 1930 mark in U.S. trading before settling down 0.36 percent at $1936.49 an ounce.
08/08 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：Dollar day unilateral strength, non-US currency precious metals collectively weak, US crude oil shock is very weak! Dollar day unilateral strength, non-US currency precious metals collectively weak, US crude oil shock is very weak! Dollar day unilateral strength, non-US currency precious metals collectively weak, US crude oil shock is very weak!
Spot gold fell slightly in Asia on Monday (August 7), trading at $1,936.68 an ounce, pressured by a hawkish price statement from Federal Reserve Governor Ben Bowman on Saturday, which provided momentum for a rebound in the dollar index.
MHMarkets：August 7, 2023 - Fundamental Reminder
On Friday, the U.S. dollar index fell sharply during the session on the back of a slightly worse than expected U.S. non farm payrolls report for July, briefly falling below 102 to an intraday low of 101.75, before recovering some of its losses to end down 0.47% at 102.
Weekly News 2023/07/31-2023/08/04
Index / Stocks / Crypto / Metals / Commodity & Futures / Forex
08/07 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
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