08/11 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：Us dollar yesterday gold needle bottom K line form, non-US currency precious metals overall weak, US crude oil fell sharply!
Spot gold traded in a narrow range during Asian hours on Friday (August 11), trading around $1,915 an ounce, supported by weaker-than-expected US CPI data for July overnight and bets that Federal Reserve policy makers are unlikely to raise interest rates again in 2023 and may start cutting rates early next year.
MHMarkets：August 11, 2023 - Fundamental Reminder
On Thursday, spot gold rose to an intraday high of $1,930.19 on the back of weaker-than-expected inflation data, but then reversed course and accelerated below the $1,920 mark, where it rebounded but remained stuck. It ended down 0.09% at $1,912.58 per ounce. Spot silver remained stuck at the $23 mark and ended up 0.16% at $22.70 per ounce.
The US dollar index rose back on Thursday, with the help of the rise against the Japanese yen Data shows that consumer prices have slightly increased, but inflation is still far above the Federal Reserve's 2% target
The US dollar index rose back on Thursday, with the help of the rise against the Japanese yen Data shows that consumer prices have slightly increased, but inflation is still far above the Federal Reserve's 2% target
USD/CAD retreats after soft CPI data from the USD, holds the 100-day SMA
On Thursday, the USD/CAD pair took a step back towards the 1.3400 region, while maintaining its position above the significant support of the 100-day Simple Moving Average (SMA) at 1.3390.
Pound was deceived. Forecast as of 10.08.2023
Anticipations were initially high that the Bank of England (BoE) would increase the rate to 6.5%. Nevertheless, the projections for the bank rate have been lowered to a range of 5.5-5.75%. The GBP/USD depreciation in August is considered typical, yet optimism remains amongst the pound bulls. It's high time we delve into the Forex perspective and conceptualize a GBP/USD trading strategy.
Canadian Dollar Update – Canadian dollar gains ahead of US CPI
The Canadian dollar traded with a bullish bias overnight on the back of broad US dollar weakness.
Big-Tech leads US Stocks lower, Gold slides again, Bonds bid ahead of CPI
The key US stock indices experienced a volatile session on Wednesday due to traders adjusting their positions in anticipation of yesterday's crucial US CPI data release.
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.
Japanese Candlesticks Analysis 07.08.2023 (USDCAD, AUDUSD, USDCHF)
Let's check the Japanese Candlesticks Analysis for 07/08/2023
MHMarkets：The dollar was weak in a small intraday range, non-U.S. currencies and precious metals were strong intraday, and U.S. crude oil accelerated to the upside!
Spot gold traded in a narrow range during Asian hours on Thursday (August 10), trading around $1,918.21 per ounce, as investors await the US CPI data for July due in the evening.
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Rollover Notification in August
Please refer to the table below, for the rollover date of our futures on the trading system during August 2023. Please note that the date and time may be subject to change.
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.