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.
European Stocks Rebound on Easing Banks Tax Concerns
On Wednesday stock markets in Europe were higher as investors tried to recoup recent losses while evaluating more quarterly corporate earnings.
The US dollar fell on Wednesday, investors await today's US consumer price report Gold prices fell, hitting their lowest point in nearly a month
The US dollar fell on Wednesday, investors await today's US consumer price report Gold prices fell, hitting their lowest point in nearly a month
08/09 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Is It Best To Set A Fixed Profit Target Or Just Let A Winning Trade Run?
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Crude oil eases from four-month high as supply cut fears contrast with US Dollar rebound
Financial markets witness a sluggish Monday, so far, as traders struggle to justify hopes of witnessing softer interest rates amid economic fears. Adding strength to the cautious optimism is China’s stimulus to battle the typhoon fears, as well as infuse funds into the struggling property markets.
AUD/JPY holds below the 94.00 mark following the mixed Australian/Chinese data
The AUD/JPY cross struggles to gain and holds below the 94.00 mark during the early Asian session on Monday. The cross currently trades around 93.88, up 0.88% for the day. The cross struggles to gain following the mixed Australian and Chinese data earlier in the day. Investors await the Chinese Consumer Price Index (CPI) for fresh impetus.
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MHMarkets：Đồng đô la giảm trong ngày, các loại tiền tệ không phải của Mỹ và kim loại quý yếu. Bên cạnh đó, dầu thô Hoa Kỳ giảm mạnh!
Giá vàng dao động trong biên độ hẹp vào thứ Ba (8/8) tại châu Á, hiện được giao dịch gần 1.934,17 USD/ounce. Dữ liệu tương đối nhẹ và thị trường đang trong tâm trạng chờ đợi, chủ yếu chờ đợi chỉ số giá tiêu dùng (CPI) của Mỹ vào thứ Năm cho tháng 7 để làm rõ vấn đề tăng lãi suất hơn nữa.
MHMarkets：The dollar fell higher on the day, non-US currencies and precious metals were weak. Besides, US crude oil fell sharply!
Spot gold fluctuates in a narrow range on Tuesday (August 8) in Asia, currently trading near $1,934.17 per ounce. The data is relatively light and the market is in a strong wait and see mood, generally waiting for Thursday's US CPI data for July to make clear whether there will be further interest rate hikes.