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Market Review | July 22, 2024
Market Overview | July 22, 2024
USD/JPY trades below 157.50 due to Yen strength after warnings from Japanese authorities, despite US Dollar strength and rising US Treasury yields. Suspected intervention pushed the pair to a one-month low, with traders cautious of further actions. Slight improvements in US Treasury yields support the Dollar, but expectations of a Federal Reserve rate cut in September may limit gains.
From July 2 to 6, DBG Markets organized a wonderful training and team-building event in Hanoi. This event aimed not only to enhance the trading skills of IBs and clients but also to strengthen the cohesion of the DBG Markets family, bringing more warmth and joy.
Exclusive Invitation: GTCFX Dubai Golf Retreat
On July 19th, the gold market experienced significant fluctuations on Friday, with spot gold prices temporarily falling below $2,430 per ounce, a daily decline of 0.62%. At the same time, spot silver also fell by 1%, trading at $29.51 per ounce. On the COMEX gold futures market, huge trades occurred frequently, for example, within just one minute, there were hundreds of contracts traded, with a total value reaching hundreds of millions of dollars.
Global Market Impacts from Political, Economic, and Corporate Developments
On Thursday (July 18th), due to the Philadelphia Fed's manufacturing index for July being higher than expected
Wall Street Faces Headwind and Plummet
AUS GLOBAL, as sponsor of Real Betis, congratulates Pezzella and Guido Rodríguez on winning the Copa America with Argentina, another great achievement for the club and the national team!
The latest S&P Global US Manufacturing PMI for June 2024 has been revised to 51.6, slightly lower than the expectation of 51.7 but up from 51.3 in May. In its most recent decision in June, the Bank of Canada (BoC) reduced its key interest rate by 25 basis points, lowering it from 5% to 4.75% in response to easing inflation indicators. In the first quarter of 2024, the US economy expanded at an annualized rate of 1.4%, slightly surpassing market expectations of 1.3%. This growth marked a...
Market Review | July 19, 2024
Market Review | July 19,2024
As the Bank of Japan's monetary policy meeting on July 31st approaches, market attention to the yen exchange rate will further increase. The Bank of Japan's decision, whether to raise interest rates or maintain the status quo, will have a profound impact on the global foreign exchange market. Against the backdrop of increasing global economic uncertainty, fluctuations in the yen exchange rate may become more intense. Therefore, market participants need to closely monitor the policy trends of the
On Wednesday (July 17th), due to signs of weakness in the US economy, expectations of a Federal Reserve interest rate cut rebounded
EUR/USD is mixed to bearish, influenced by resistance levels and upcoming data. GBP/USD is bullish with the pound at four-month highs on positive UK data and hawkish BoE comments. EUR/GBP remains volatile, reflecting diverging economic conditions in the Eurozone and the UK.
Today's news covers significant developments in global markets and politics. President Biden's campaign faces challenges due to a COVID-19 diagnosis, while China's economic strategies and tech advancements remain in focus. Key updates include the impact of US semiconductor restrictions, rising tensions in global trade, and significant shifts in corporate strategies and financial markets. The news reflects the dynamic and interconnected nature of the global economy.
The dollar continues to tumble, trading at its lowest level since April, below the $104 mark. The U.S. Beige Book suggests economic growth has moderated and inflation shows signs of easing, strengthening the likelihood of a September rate cut. Improved risk appetite in the market propelled the Dow Jones up nearly 300 points in the last session, breaking its all-time high.
AUS GLOBAL, as sponsor of Real Betis, would like to congratulate Ayoze Pérez on winning the European Cup with Spain!
Market Review | July 18, 2024