Daily Market Newsletter - September 6, 2023
Directional Views and Trade Recommendations for EUR/USD, GBP/USD, USD/JPY, and More
Silver Price Forecast: XAG/USD Rebound as The Fed Is Still Unconvinced About Interest Rate Prospects
At the onset of the New York trading session, Silver's (XAG/USD) price encountered significant buying interest around $23.50.
Gold prices are unchanged as the currency and rates remain stable ahead of further Fed indications
Gold prices continue to be steady due to the constant value of the dollar and bond rates. Further signals from the Federal Reserve are currently awaited.
AUDUSD breaks key support, sets a new low for 2023 after RBA holds rates
The current steadfastness in AUDUSD witnessed a dramatic conclusion in the recent trading session.
EUR/JPY advances, still capped by the 20-day SMA
During the session on Monday, the EUR/JPY cross increased, making its way towards the 158.15 area, with nearly 0.35% daily gains recorded. The Euro is performing strong against the majority of its competitors, while the JPY is one of the weakest performers in the session. This is largely influenced by the ultra-dovish position of the Bank of Japan (BoJ).
DAX 40 & DOW JONES: Weekly analysis 4th – 8th Semptember
In the previous week, a variety of macroeconomic indicators provoked interest among investors. This is due to their anticipation of the termination of the Federal Reserve's (FED) policy tightening, possibly suspending rate hikes come September, and the potential for rate reductions before the year's conclusion.
Afternoon Briefing 04 Sep 2023: Oil Flat on OPEC+ Cuts
This week, increased attention was placed on the data emerging from Australia and China, contributing to the advancements experienced by Asian shares.
WCG Markets:2023-09-06
WCG Markets:2023-09-06
09/05 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Oil prices have remained near a 10-day high despite mixed China PMI data
The processing fees for US liquefied natural gas (LNG) projects have increased due to the rise in interest rates.
Japan stocks higher at close of trade; Nikkei 225 up 0.74%
Japan stocks were higher after the close on Thursday, as gains in the Precision Instruments, Shipbuilding, and Banking sectors led shares higher.
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.
Global Market Overview: Sentiment Improves Amid Fed Speculations and Chinese Stimulus
Stocks, Forex, and Commodities Recap for September 4th, 2023
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.