Gold buy bias if there is a big US Core PCE miss
Gold has been gaining this week on a miss in the US JOLTS job openings print and a miss in the US consumer confidence print on Tuesday. A slowdown in the US job market aligns with the Federal Reserve’s objectives, indicating that the impact of interest rate hikes is beginning to cool the US economy. The miss in these two data points sent gold surging higher on Tuesday, as yields and the dollar fell.
Australia stocks higher at close of trade; S&P/ASX 200 up 0.10%
Australia stocks were higher after the close on Thursday, as gains in the Telecoms Services, IT and Financials sectors led shares higher.
MHMarkets：September 05, 2023 - Fundamental Reminder
In light trading on Monday, the dollar index rose as high as 104.27 in Asia before choppy downward to close down 0.11% at 104.13.
MHMarkets：The U.S. dollar rose sharply during the day, non-US currencies and precious metals plummeted collectively, and U.S. crude oil shocked and consolidated in a small intraday range!
On Tuesday (September 5), spot gold maintained its modest intraday decline during the Asian market, with gold prices now trading near $1937 per ounce. Anil Panchal, an analyst at leading financial website FXStreet, wrote in his latest article on Tuesday that gold bulls are losing momentum below the $1,950 per ounce mark. CNY Caixin Services PMI and USD Factory Orders will be the focus of the session in terms of economic data.
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Understanding Trends and Mastering Trendline Drawing
As a dynamic and ever-changing market, forex trading relies heavily on understanding trends to make informed decisions.
WCG Markets:2023-09-05
WCG Markets:2023-09-05
09/04 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：The US dollar retreated after breaking the upper limit, non US currencies and precious metals were stronger within the day, and U.S. crude oil tested strong pressure at the monthly level!
The gold market surged during Friday's trading session following the release of the non-farm payrolls report. This development provides valuable insights into underlying inflation trends. Keeping an eye on average hourly wages in the U.S. can reveal important indicators of inflation dynamics.
MHMarkets：September 04, 2023 - Fundamental Reminder
Friday's non-farm report was in line with a "soft landing" trend, but the dollar index quickly rebounded from the day's low to close up 0.64% at 104.28 as Cleveland Fed President Loretta Mester "hawked" again, hinting at continued tightening.
Non-farm data shows a slowdown in the US economy But the US dollar continues to rise
Non-farm data shows a slowdown in the US economy But the US dollar continues to rise
WCG Markets:2023-09-04
WCG Markets:2023-09-04
Market Insights for September 4, 2023
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Weekly News 2023/08/28-2023/09/01
Index / Stocks / Crypto / Metals / Commodity & Futures / Forex
Market Closure in September
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming September holidays.
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09/01 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：September 01, 2023 - Fundamental Reminder
On Thursday, the Fed's preferred core PCE price index rose slightly as expected, but inflation-adjusted personal consumption expenditures rose more than expected. The dollar index bounced back from Wednesday's two-week low to end up 0.5% at 103.65.
MHMarkets：The US dollar continues to strengthen, non US currencies and precious metals collectively retreat, and US crude oil once again breaks the upper limit!
On Friday (September 1), spot gold has suddenly seen a rapid decline in a short term during the Asian market and the gold price has just fallen below the $1940 per ounce mark. The U.S. August non-farm payrolls report is scheduled to come out at 20:30 Beijing time on Friday. Authoritative media surveys show that the U.S. August non-farm payrolls is expected to increased by 170,000, following an expected increase of 187,000 in July.
Rollover Notification in September
Please be advised that the following CFD instruments will be automatically rolled over as per the dates in the table below. As there can be a pricing difference between old and new futures contracts, we recommend clients to monitor their positions closely and manage positions accordingly.
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