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Market Overview | June 17, 2024
Kuala Lumpur, 12 June 2024 - At the highly anticipated W2140 World WEB3 Carnival press conference in Kuala Lumpur, DECODE Group, represented by guest speaker Lester Boey, was invited to share the company's latest developments and provide an early preview of the upcoming launch of their brand new contract-centric exchange, "Dcex," set to debut in August this year.
Saudi Arabia's 50-year Petrodollar Agreement with the United States has expired, and Saudi Arabia has chosen not to renew it, signaling a transition in the global financial order towards an unknown new model. Saudi Arabia now has greater flexibility to sell oil in multiple currencies, including the Chinese yuan, euro, and Japanese yen, with potential expansion to other currencies in the future.
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming June holidays.
STARTRADER presented its future vision at the Colombian Financial Expo on May 17, 2024, seamlessly integrating it with traditional elegance, thus captivate the broader audience, both within and outside the industry During this expo, STARTRADER showcased not only their creative ideas and embrace of technology but also their appreciation of historic traditions.
On Thursday (June 13th), due to the hawkish signal released by the Federal Reserve, the US dollar index rebounded and ultimately closed up 0.51% at 105.22.
After digesting Jerome Powell's comments following the FOMC interest rate decision on Wednesday, the dollar erased all its losses from the soft CPI reading, continuing its upward trajectory. The hawkish outlook from the Fed stimulated dollar strength against its peers, while the bullish momentum in equity markets was hindered by the prospect of prolonged high interest rates.
Calling all football fans and trading enthusiasts! PU Prime is gearing up for the Euro Cup with a sizzling summer promotion brimming with exciting games, incredible prizes, and a chance to snag a share of a whopping $2,480 prize pool!
We are pleased to announce that AUS GLOBAL has received an invitation from the United Nations to participate in the United Nations Forum on Science, Technology and Innovation (UNSTI) to be held on June 20, 2024 at the Palais des Nations in Geneva, Switzerland.
Gold (XAU/USD) is predicted to decrease due to a mix of economic factors and technical indicators. Lower-than-expected US PPI and CPI data suggest potential Fed rate cuts, initially supporting gold, but a cautious Fed outlook has pulled prices back. Technically, a bearish Head-and-Shoulders pattern suggests a trend reversal, with a break below $2,279 confirming downside targets at $2,171 and $2,106. However, a rise above $2,345 could challenge this pattern and push prices back toward $2,450.
In May, Australia's central bank, the RBA, maintained its interest rate at 4.35%, as widely expected for the fourth meeting in a row. In April, U.S. retail sales stagnated at 0.0%, disappointing expectations and trailing the previous month's figures of 0.0% and 0.6% respectively. In March, the Swiss Central Bank caught markets off guard by becoming the first major central bank to decrease interest rates by 0.25 percentage points, lowering them from 1.75% to 1.50%. In April, the Bank of England..
Market Review | June 14, 2024
OnEquity is a licensed and regulated liquidity solutions provider, offering retail and institutional traders access to a wide range of trading instruments in the global financial markets. With an unwavering commitment to excellence, OnEquity ensures a safe, transparent, and trustworthy trading environment for its clients.
The Federal Reserve’s decision-making process is fraught with contradictions and uncertainties. Despite the market’s positive response to improved inflation data, Federal Reserve officials remain cautious about cutting interest rates. They require more data to confirm sustained improvements in inflation while avoiding potential negative consequences of premature rate cuts. During this process, market volatility may intensify, necessitating close attention from investors to Federal Reserve policy
On Wednesday (June 12th), due to lower than expected US May CPI data, the US dollar index plummeted significantly.
the U.S. CPI came in lower than market consensus, indicating easing inflation and boosting risk appetite.
The USD/JPY pair is predicted to increase based on both fundamental and technical analyses. Fundamental factors include a potential easing of aggressive bond buying by the Bank of Japan (BoJ), which could lead to yen depreciation. Technical indicators suggest a continuing uptrend, with the possibility of a correction once the price reaches the 157.7 to 160 range.
Market Review | June 13, 2024
Forex trading, sometimes referred to as foreign exchange trading, is the trading of currencies on the forex market. Open 24 hours a day and among one of the most liquid markets worldwide, dealers exchange pairs of currencies to profit. Success in this financial market depends critically on an awareness of how forex trading operates and on having good trading methods.
Ahead of Wednesday's dual risks event of 'CPI + Fed,' traders are reducing their bets on a rise in U.S. Treasuries. Market data indicates the Fed may maintain high rates for a longer period, contrary to the previous expectation of an easing cycle. Since the release of non-farm payroll data last Friday, open interest in 10-year Treasury futures has decreased by about 80,000 contracts, reflecting traders unwinding bullish bets.