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Stock market is staring into deep losses as investors flee for exits after July jobs data poured cold water on the steady stream of good economic data.Jobs data, the US nonfarm payrollsUSNFP, slipped
The aftermath of the Japanese yen's strengthening has manifested in significant dips across multiple markets, including equities, commodities, and various currencies. The yen has erased all its 2024 losses against the dollar, moving towards the 145.00 mark. The dollar index (DXY) has fallen to its lowest level since March, hovering above the $103 mark.
Market Review | August 5, 2024
Market Review | August 5, 2024
Gold declined in the early Asian session due to profit-taking after hitting a record high on Friday. The US NFP report showed only 117K new jobs in July, below the expected 175K, signaling a potential increase for XAU/USD. Annual wage growth slowed to 3.7%, easing inflation fears and boosting Fed rate-cut prospects. Rising tensions between Iran and Israel have also increased gold’s safe-haven appeal.
This week's economic events include: Japan's Monetary Policy Minutes and U.S. Services PMI on Monday, impacting JPY and USD. Tuesday's RBA Interest Rate Decision affects AUD, with German Factory Orders influencing EUR. Wednesday sees German Industrial Production and U.S. Crude Inventories impacting EUR and USD. Thursday: RBA Governor speaks, with U.S. Jobless Claims. Friday: China's CPI and Canada's Unemployment Rate affect CNY and CAD.
Global markets are fluctuating due to various factors. Japan's stock indices dropped sharply, driven by the yen's surge and tightening monetary policy. Vice President Kamala Harris is meeting potential running mates. Middle Eastern tensions are rising, impacting defense stocks. Venezuela faces post-election turmoil. Neuralink's advancements boost U.S. tech stocks. Indian companies ramp up stock buybacks. Oil prices fluctuate, and regulatory measures target Chinese software in autonomous vehicles
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The easing of global monetary policy, especially the expectation of interest rate cuts by the Federal Reserve, has brought new vitality to the gold and silver markets. Despite some uncertainties, such as the resilience of the US dollar and geopolitical risks, analysts generally have a positive outlook for the long-term prospects of precious metals. Investors should pay close attention to the policy trends of the Federal Reserve and changes in the global economic and political environment when co
The global market is experiencing significant volatility due to uncertainties in economic data and central bank policies. Key highlights include the Nasdaq 100 index's dramatic rise and fall, Amazon's disappointing sales data, and Japan's significant stock market drop following an unexpected rate hike by the Bank of Japan.
On Thursday (August 1st), the US dollar index maintained range volatility, falling nearly 104 points during trading
The BoE's decision to cut rates by 25 basis points came in line with market consensus, leading to a decline in the Pound Sterling
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The Japanese Yen strengthened against the US Dollar after the Bank of Japan's hawkish policy move, raising rates by 15 basis points and reducing bond purchases. Japan's Ministry of Finance also spent ¥5.53 trillion ($36.8 billion) in July to stabilize the Yen. Meanwhile, the US Dollar weakened as the Federal Reserve maintained interest rates. Traders now await US economic data, including the ISM Manufacturing PMI and Initial Jobless Claims, for further guidance.
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Market Review | August 2, 2024
Market Review | August 2, 2024
English Press Release: GTCFX to Host Exclusive Golf Event in Dubai GTCFX Announces Upcoming Exclusive Golf Event in Dubai
Kudotrade has started off with a full license from leading software company Meta Quotes!
The Federal Reserve maintained interest rates unchanged in the latest policy resolution and closely monitored the labor market and inflation to guide future monetary policy. Although there are differences in the market's expectations for an interest rate cut in the short term, Federal Reserve Chairman Powell emphasized the resilience of the labor market and the commitment to the inflation target, indicating that in achieving the dual mission of maximizing employment and stabilizing prices, the F