Insights into Today's Market
Market Review | July 2, 2024
Today's analysis: Gold Prices Maintain Strength Amid Mixed Economic Signals
The U.S. ISM Manufacturing PMI dropped to 48.5 in June, below expectations, but the dollar rebounded after a Supreme Court ruling in favor of Trump. Investors await U.S. job data for hints on potential Federal Reserve rate cuts. Despite rising U.S. bond yields, gold remains strong near $2300. If it breaks above the 50-day moving average of $2337, it could reach $2390-$2400, but faces resistance at $2339.21. A drop below $2323.29 would weaken the bullish signal; watch for a breakout in the $2291.
【MACRO Alert】The shifting political landscape in France has triggered market fluctuations, prompting the European Central Bank to consider initiating TPI to prevent the crisis from spreading!
As the first round of voting in the French National Assembly elections concludes, global investors are once again focusing on this major Western European nation. According to CCTV News, the far-right political party National Rally leads with 33% of the vote in the initial round, followed closely by the left-wing coalition "New People's Front," which garnered 28.5% of the ballots. The ruling party, Renaissance, and the centrist alliance "Together" ranked third with 22% of the votes. This outcome
<Part 2> GTSE Global Market Dynamics: Key Developments
Global markets face significant changes. China's financial sector caps salaries under Xi Jinping's "common prosperity" policy, affecting the yuan and major financial stocks. India's entry into the JPMorgan Emerging Markets Bond Index boosts investment and strengthens the rupee. Nike's weak outlook suggests a U.S. economic slowdown. Japan's yen nears a 40-year low, prompting potential stabilization efforts. Hong Kong faces judicial concerns, impacting its financial stability.
<Part 1> GTSE Global Market Dynamics: Key Developments
Global markets face significant changes. China's financial sector caps salaries under Xi Jinping's "common prosperity" policy, affecting the yuan and major financial stocks. India's entry into the JPMorgan Emerging Markets Bond Index boosts investment and strengthens the rupee. Nike's weak outlook suggests a U.S. economic slowdown. Japan's yen nears a 40-year low, prompting potential stabilization efforts. Hong Kong faces judicial concerns, impacting its financial stability.
Japanese Yen Outlook: USD/JPY, EUR/JPY & GBP/JPY
The yen continues to weaken against major currencies, with USD/JPY potentially climbing above 165. Japan's officials express concerns, hinting at potential intervention. Stable domestic indicators fail to support the yen amid robust USD performance.
Europe Analysis: EUR/USD, GBP/USD, EUR/GBP
The ECB's consumer expectations survey shows mixed economic signals with slight improvements in unemployment expectations but unchanged growth forecasts. The euro faces pressure from a strong USD, while the GBP shows resilience, contributing to the strength of GBP/USD and the decline of EUR/GBP.
Gold Supported by Weak U.S. Data and Inflation Concerns
Gold prices are buoyed by weak U.S. economic data, reduced Fed rate hike expectations, and ongoing geopolitical tensions. The precious metal is set for its third consecutive quarterly gain, with upcoming U.S. inflation data being closely monitored.
Euro Jumps After Legislative Vote Held
The dollar's recent strength was tempered by last Friday's Personal Consumption Expenditures (PCE) reading, which aligned with market expectations. The mixed results of recent U.S. economic indicators have cast uncertainty over the Federal Reserve's upcoming monetary policy moves, although part of the market remains optimistic about an October rate cut.
Today's Economic Indicator
Market Review | July 1, 2024
Today's Market News
Market Review | July 1, 2024
Today's analysis: USD/JPY Rises Amid Yen's Historic Low and Limited Government Intervention
The Japanese Yen has reached a historic low, despite government intervention efforts. This has strengthened the US Dollar Index. USD/JPY hit a multi-decade high, driven by the Yen's weakness. Despite the overbought RSI, traders eye support levels at the 55-day (156.53) and 100-day (153.81) SMAs before challenging new highs.
【MACRO Insight】France’s upcoming presidential election is stirring up unrest, with the dual risks of fiscal policy and market crisis looming!
As global attention focuses on the televised debates of the two major parties in the United States, France is also gearing up for its highly anticipated National Assembly elections this weekend amid the turmoil surrounding the upcoming presidential election. President Macron's decision to call for these emergency elections following his party's defeat in the European Parliament elections earlier this month has sparked market chaos. Investors fear that the new government could exacerbate the coun
Market Closure in July
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming July holidays.
TOP 12 Candlestick Patterns - Essential Ways to Read Japanese Candlestick Charts
Candlestick patterns, also known as Japanese candlestick charts, are a widely used technical analysis tool for describing the price movements of securities, derivatives, or Forex. From the beginning of my trading journey until now, I have learned about approximately 40 types of candlestick patterns.
Types of gold: How to build a gold investment plan
As investors seek stability and diversification in their portfolios, especially in uncertain economic periods, gold stands out as one of the best options. How many types of gold exist? Before diving into golden investments, it's crucial to grasp the various forms that gold can take.
Mitrade Review
Mitrade is an award-winning broker that was founded in Melbourne, a major city in Australia, by a team of fintech and financial trading industry veterans. Mitrade is regulated by multiple governmental bodies, and the broker says its goal is to make trading more “simplified” and “user-friendly.”
STARTRADER Secures 4 Awards at ProFX Awards Ceremony
In an honorable moment, STARTRADER has received 4 prestigious awards at the ProFX Awards ceremony held on 31 May 2024, Queen Elizabeth 2 Hotel in Dubai, UAE.
Rate Cut Hopes on the Line: NFP Set to Steal the Spotlight!
The US ISM Manufacturing PMI came in at 48.7 for May, below the forecast of 49.8 and the previous reading of 49.2. The main reasons for this stagnant reading are ongoing weak demand, which affects supplier orders, inventories, capital investments, and employment. In May, ADP Nonfarm Employment Change have increased 152,000 jobs, which was below the forecast of 173,000 and down from the previous month's 188,000. The US ISM Non-Manufacturing PMI for May exceeded expectations, registering 53.8...
All Eye on Today’s U.S. PCE
Investors are eagerly anticipating today’s U.S. Personal Consumption Expenditures (PCE) data for further insights into the dollar’s trajectory.
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