Home -
Brokers -
Main body -

WikiFX Express

Exness
EC Markets
TMGM
XM
FOREX.com
FXTM
AvaTrade
FXCM
IC Markets Global
Eightcap

Global Economic and Financial Highlights: July 18, 2024

GTSEnergyMarkets | 2024-07-18 14:34

Abstract: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.

image.png

1

President Biden suffered a setback during his campaign as he tested positive for COVID-19. He had planned to counter the influence of the Republican National Convention by holding an event but was forced to cancel a meeting with a key Latino advocacy group due to the diagnosis. This brings his health back into focus, especially as he tries to demonstrate that his age and mental state do not affect his ability to perform his duties.

Analysis:

Impact on FX:Increased political uncertainty could weaken the USD.

FX Pair:EUR/USD, USD/JPY, GBP/USD

Impact on Shares:

US Stock Market (NASDAQ, S&P 500): Potential negative impact due to increased political uncertainty.

Companies:General Market Indices


4

The Japanese yen surged significantly, causing global currency market turbulence and driving the USD to its lowest level in nearly two months. On Thursday, the Bloomberg Dollar Spot Index continued to fall, dropping 0.4% on Wednesday to the lowest level since late May. In Tokyo trading, the yen broke through 156 against the dollar, reflecting speculation about possible Japanese intervention.

Analysis:

Impact on FX:Yen strength and USD weakness due to market speculation.

FX Pair:USD/JPY, EUR/JPY, GBP/JPY

Impact on Shares:

Global Market: Negative impact on export-dependent Japanese stocks.

Companies:Toyota (7203.T), Sony (6758.T)

7

United Airlines' third-quarter profit will be lower than Wall Street expectations as US airlines cut ticket prices to attract domestic travelers. United Airlines said its adjusted earnings per share for the current quarter will be between $2.75 and $3.25, while analysts' average expectation was $3.38.

Analysis:

Impact on FX:Weak earnings report could weaken the USD.

FX Pair:EUR/USD, USD/JPY, GBP/USD

Impact on Shares:

US Airline Market: Negative impact on airline stocks.

Companies:United Airlines (UAL), Delta Air Lines (DAL), American Airlines (AAL)


8

As the launch of Ethereum ETFs (Ether ETFs) approaches, competition among multiple issuers has intensified. These ETFs have not yet been officially launched, but issuers including BlackRock, Fidelity, Invesco, and Bitwise have already filed documents with the US Securities and Exchange Commission (SEC), detailing the fees for their respective products.

Analysis:

Impact on FX:Increased interest in cryptocurrency could strengthen the USD.

FX Pair:EUR/USD, USD/JPY, GBP/USD

Impact on Shares:

US Market: Positive impact on financial and tech stocks related to cryptocurrencies.

Companies:BlackRock (BLK), Fidelity, Invesco (IVZ), Bitwise


9

Since mid-April, the shipping market has shown signs of tension, with freight volumes increasing and spot container rates rising sharply, especially on routes from Asia to North America and Europe. Companies like Montreal-based Globe Electric have begun feeling the pressure and are planning ahead to address these challenges. (Inflation returning)

Analysis:

Impact on FX:Increased shipping costs could strengthen the USD.

FX Pair:EUR/USD, USD/JPY, USD/CNY

Impact on Shares:

Global Market: Positive impact on shipping and logistics stocks.

Companies:Maersk (MAERSK-B.CO), Globe Electric


10

US industrial production grew steadily for the second consecutive month in June, indicating that the manufacturing sector may be regaining some momentum. Production at factories, mines, and utilities grew by 0.6%, following a revised 0.9% increase in the previous month, marking the largest two-month increase since late 2021. The median expectation in a Bloomberg survey was for a 0.3% increase.

Analysis:

Impact on FX:Strong industrial production data could strengthen the USD.

FX Pair:EUR/USD, USD/JPY, GBP/USD

Impact on Shares:

US Industrial Market: Positive impact on industrial and manufacturing stocks.

Companies:General Electric (GE), Caterpillar (CAT), 3M (MMM)


11

India has raised about $15 billion through secondary sales or bulk transactions this year, more than 150% higher than the same period in 2023, surpassing any previous year's total. Additionally, initial public offerings (IPOs) have raised more than $5 billion this year, more than double the amount in the same period last year. More deals are expected, including a potentially record-breaking IPO from Hyundai Motor India in September or October, which could raise up to $3.5 billion. India's stock market is attracting investors looking to shift investments, especially with China's market underperforming.

Analysis:

Impact on FX:Increased investment could strengthen the INR.

FX Pair:USD/INR, EUR/INR, GBP/INR

Impact on Shares:

Indian Market: Positive impact on stock market sentiment.

Companies:Hyundai Motor India, Reliance Industries (RELIANCE.NS), Tata Consultancy Services (TCS.NS)


13

Argentine President Javier Milei warned voters during his campaign that his “shock therapy” to stabilize the country's chronically ailing economy would be painful, and his predictions have come true. Since Milei took office on December 10, consumer price inflation has accelerated, with prices rising over 100% by May and 276% compared to the same period last year. This occurred after he lifted price controls, devalued the currency, and began cutting transportation and utility subsidies. Despite Wall Street investors welcoming Milei's measures and lifting Argentine bond

prices from their lows, these prices have recently stabilized. With high inflation eroding wages and pension payments, consumer spending has plummeted, pushing Argentina into its sixth recession in the past decade. Milei argues that his sweeping economic reforms are necessary to correct the policy mistakes of his predecessors, which led to a poverty rate of nearly 42%.

Analysis:

Impact on FX:Economic instability could weaken the ARS.

FX Pair:USD/ARS, EUR/ARS, GBP/ARS

Impact on Shares:

Argentine Market: Negative impact on consumer and financial stocks.

Companies:YPF (YPF), MercadoLibre (MELI)


14

The Walt Disney Company leads the race for the 2024 Emmy Awards, with three shows from its Hulu and FX divisions receiving the most nominations. According to the Television Academy announcement in Hollywood on Wednesday, FX's miniseries about feudal Japan, “Shogun,” received 25 nominations, including one for best drama.

Analysis:

Impact on FX:Positive corporate news could strengthen the USD.

FX Pair:EUR/USD, USD/JPY, GBP/USD

Impact on Shares:

US Entertainment Market: Positive impact on Disney stocks and related entertainment companies.

Companies:Walt Disney Company (DIS), Hulu, FX Networks


15

Turkish Foreign Minister Hakan Fidan, along with the defense and energy ministers, visited Niger on Wednesday to secure access to the country's rich uranium resources. The visit aims to fuel Turkey's emerging nuclear power industry. According to sources, the Turkish delegation hopes to use Niger's uranium resources to fuel the Mediterranean Akkuyu nuclear power plant and two other planned nuclear power plants.

Analysis:

Impact on FX:Increased investment in energy could strengthen the TRY.

FX Pair:USD/TRY, EUR/TRY, GBP/TRY

Impact on Shares:

Turkish Market: Positive impact on energy sector stocks.

Companies:Akkuyu Nuclear, Turkish Petroleum Corporation (TPAO)

Global markets semiconductor restrictions US Fed inflation trade tensions corporate strategies

Related broker

Regulated
GTSEnergyMarkets
Company name:GTS Energy Markets Group Limited
Score
7.85
Website:https://gteprime.com/
5-10 years | Regulated in Cyprus | Regulated in Australia | Straight Through Processing (STP)
Score
7.85

Read more

KVB Market Analysis | 15 August: Gold Prices Drop Sharply Following U.S. CPI Report and Fed Rate Cut Expectations

Spot XAU/USD dropped nearly $18, closing below $2,450, after the latest U.S. CPI report reduced hopes for a significant Fed rate cut. The CPI rose 0.2% in July, with a notable increase in rent, particularly "owner's equivalent rent," which accelerated to 0.36%, contributing to the market's disappointment.

Review 2024-08-15 10:55

Global Market Developments: Bond Market Interventions, Tech Stock Rebounds, and Rising Geopolitical Tensions

Global markets are navigating through significant shifts. China intervenes in the bond market to curb speculation, while Japan's Nikkei rebounds after historic losses. Elon Musk's increasing political involvement and General Motors' strategic shifts in China reflect broader economic and geopolitical trends. Rising tensions in the Middle East and U.S. labor market volatility add further complexity, influencing global currencies and stock movements.

News 2024-08-13 12:21

Global Market Movements and Key Developments: A Weekly Overview

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

News 2024-08-05 11:12

Global Market Insights: Key Economic Events and Their Impact

Global Market Insights: Key Economic Events and Their Impact

News 2024-07-31 15:09

WikiFX Express

Exness
EC Markets
TMGM
XM
FOREX.com
FXTM
AvaTrade
FXCM
IC Markets Global
Eightcap

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
TMGM

TMGM

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
TMGM

TMGM

Regulated
GTCFX

GTCFX

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
TMGM

TMGM

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
TMGM

TMGM

Regulated
GTCFX

GTCFX

Regulated

Latest News

WikiFX “Elite’s View on the Challenge: Dialogue with Global Investment Leaders” Concludes Successful

WikiFX
2025-05-15 10:43

Plus500 Review 2025: Trusted CFD Broker with Top Features Unveiled

WikiFX
2025-05-15 12:20

How UK-China Financial Cooperation Is Shaping Global Resilience

WikiFX
2025-05-14 15:41

Deriv Review 2025: A Growing Force in Online Trading

WikiFX
2025-05-14 15:51

Hantec Markets Launches 24/7 Crypto CFD Trading

WikiFX
2025-05-14 16:25

WikiFX Broker Assessment Series | WCG Markets: Is It Trustworthy?

WikiFX
2025-05-14 16:54

Traders Losing Thousands, Complaints Soar Near 100: Is LiteForex Engaging in Scam Tactics?

WikiFX
2025-05-14 22:52

FundedNext Expands into Brokerage with FNmarkets Launch and Strategic Leadership Hire

WikiFX
2025-05-14 23:23

‘Metherworld is the future’ Under Questions from Traders: Is it a Safe Bet?

WikiFX
2025-05-14 22:37

BaFin Issues Series of Warnings Against Unlicensed Financial Websites Exploiting German Consumers

WikiFX
2025-05-15 16:27

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Akita

Akita

GE GROUP

GE GROUP

BelightFx

BelightFx

Ace Forex

Ace Forex

CBF

CBF

SHARPS PIXLEY

SHARPS PIXLEY

Teyler

Teyler

Pi Capital Market

Pi Capital Market

NexGen

NexGen

Anto Global

Anto Global