The Swiss central bank cuts interest rates again, causing the US dollar to rise on Thursday Recent data has boosted the Federal Reserve's interest rate cut bet, with gold prices soaring over $30 to a two-week high
Due to another interest rate cut by the Swiss central bank, the market focused on interest rate differentials between different countries.
Market Remains Hopeful On Rate Cut? All Eyes On PCE!
According to the U.S. Conference Board, consumer sentiment in the U.S. improved in May, with the CB Consumer Confidence Index rising to 102 from 97.5 in April. The U.S GDP grew by 1.3% in Q1 2024, a notable drop from the 3.4% growth rate in Q4 2023. This decline was primarily due to downward revisions in consumer spending, private inventory investment, and federal government spending. The UK's GDP for Q1 2024 showed a quarter-on-quarter (QoQ) increase of 0.6%, surpassing the forecast of 0.4%.
Japanese Yen Hammers by Soft CPI
the Japanese Yen has traded to its weakest level since April. The disappointing Japan National Core Inflation rate has further weakened the Yen
Today's analysis: USDJPY Set for Potential Increase Amid Intervention Risks and Bullish Trends
USD/JPY is near intervention levels with Japanese officials warning of potential forex actions. Despite a bullish trend, caution is advised due to possible government interference. The pair has risen past 158.25, aiming for 160.20, within a broader uptrend from 150.25. A break below 150.87 could signal a larger correction towards 146.47.
Current Market Trends
Market Review | June 21, 2024
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【MACRO Insight】The UK Conservative Party is facing a political crisis due to the upcoming election, with market expectations holding the benchmark interest rate steady at 5.25%.
British Prime Minister Rishi Sunak, the first Prime Minister of Indian descent in history, is currently facing the awkward prospect of becoming the first sitting Prime Minister to lose his seat in a general election. According to analyses by Savanta and Electoral Calculus for The Daily Telegraph, the Conservative Party may only secure 53 seats in next month's election, marking its worst performance in history. YouGov's predictions suggest that the Labour Party could win 425 seats in the election
Market closed for June holiday in the United States Market trading is light, with limited gold volatility
On Wednesday (June 19th), the US dollar index fluctuated narrowly and is still above the 105 level, ultimately closing down 0.11% at 105.15.
Focus on Today’s BoE Interest Rate Decision
Attention now turns to the Pound Sterling as the Bank of England’s (BoE) interest rate decision is due later today.
AUS GLOBAL and Real Betis prepare for summer international friendly matches
AUS GLOBAL, as sponsor of Real Betis, is pleased to announce that Real Betis will play two exciting international friendly matches this summer. On July 27, Real Betis will face Liverpool, a Premier League powerhouse, at the Acrisure Stadium in Pittsburgh, USA. Then, on August 1, the team will compete against another Premier League giant, Manchester United, at the Snapdragon Stadium.
Today's analysis: XAUUSD Likely to Decline Amid Fed Rate Cut Speculation
XAU/USD is forecasted to decline within a familiar range amid expectations of Federal Reserve rate cuts in September and December, influenced by weak U.S. retail sales and lower Treasury yields. Resistance is at $2,344-$2,345 (50-day SMA), with potential targets at $2,360-$2,400. Support levels include $2,300, $2,285, and possibly $2,254-$2,253 if downtrend persists. Traders await further Fed signals cautiously.
Today's Market Analysis
Market Review | June 20, 2024
【MACRO Alert】Japanese CLO giant faces financial crisis! Government seeks short-term bond issuance as new trend!
This suggests that the key to the success of Japan's government bond management policy lies in creating an environment where the banking sector is confident in holding Japanese government bonds. Overall, the Japanese government is considering adjusting its bond issuance strategy to adapt to the new environment of reduced bond purchases by the central bank. They seek to mitigate market risks by issuing more short-term bonds while expanding the investor base for government bonds.
Acing the Forex Trading Game: Are You Doing It Right to Go to the Next Level?
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Today's analysis: AUDUSD Gains Momentum Amid Hawkish RBA and Technical Resistance.
The AUD/USD is expected to rise due to a softer US Dollar, improved risk sentiment, and the hawkish stance of the RBA, which kept rates at 4.35% and indicated potential near-term hikes. Technically, breaking above 0.6640 could push the pair to 0.6770, despite resistance from the 50, 100, and 200 SMAs on the 4-hour chart and challenges from China's sluggish economy. Key support is at 0.6521.
Financial News Today
Market Review | June 19, 2024
【MACRO Insight】The road to European energy independence is fraught with difficulties as Russia reclaims its position as the largest natural gas supplier
During the Russia-Ukraine conflict, despite Europe's efforts to reduce reliance on Russian natural gas, Russia's gas exports unexpectedly surpassed those of the United States in May, highlighting Europe's challenge in achieving energy independence. European natural gas prices surged 40% in three months due to increased demand in Asia and supply uncertainties. Despite high inventories, supply risks persist. The EU is seeking to diversify its sources and increase storage capacity to cope with mark
Yen Strengthen in Hawkish BoJ Statement
the Japanese yen saw modest gains as the Bank of Japan (BoJ) chief signalled a potential rate hike next month if economic data proves satisfactory.
Market concerns about the European political situation eased, and the US dollar fell on Monday The hawkish speech of the Federal Reserve helped boost the rebound of US bond yields, with gold prices slightly falling. Pay attention to "terrifying data"
On Monday (June 17th), the US dollar index fell slightly during the US market, but remained near its highest point in nearly a month
Today's analysis: USDJPY Poised for Increase Amid Bank of Japan's Strategy
The USD/JPY is expected to rise. The Bank of Japan will keep interest rates between 0 and 0.1% and continue its bond purchase plan but may reduce purchases and raise rates in July based on economic data. Technically, the pair is trending upward with resistance at $158.25 and $158.44, and support at $157.00, $156.16, and $155.93.
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