Soft PMI Reading Hammers Dollar Lower
The U.S. dollar remained on a downward trajectory following the release of yesterday's PMI readings, which fell short of market expectations.
Today's Economic News
Market Review | June 4, 2024
【MACRO Insight】Crude Oil Big Signal! OPEC+ "Voluntary Production Cuts" Extended Until the End of 2024!
U.S. and Brent crude closed lower by $0.5 on Monday (June 3rd), with WTI crude falling below $77 per barrel. The decision by the OPEC+ weekend meeting to extend production cuts came as no surprise. 图片 1.png The recent OPEC+ meeting showed that the agreement reached in Riyadh on Sunday exceeded market expectations in some aspects, extending the "voluntary" production cuts of major member countries such as Saudi Arabia and Russia until next year. However, these major member countries will start
US inflation data meets expectations The US dollar fell last Friday, and gold fell under pressure
Last Friday (May 31), due to the core PCE price index in the United States hitting a new low since December 2023, the US dollar index weakened and recorded its first monthly decline in 2024
Soft PCE Boost Equity Market
The soft PCE reading last Friday boosted the U.S. equity market, with the expectation of a more dovish Fed monetary policy in the future.
Today's Market Insights
Market Review | June 3, 2024
HFM Wins The “Best Copy Trading Broker” Award
HFM has been honored with the ‘Best Copy Trading Broker Award’ at FMAS:24
GML's strategic alliance with BITEMPIRE ACADEMY prioritizes spreading financial investment literacy.
Join us in celebrating this fantastic collaboration between GML and BITEMPIRE ACADEMY as we work together to spread financial investment literacy far and wide. Together, we can bring about positive change and create a more financially educated community. Let's make our money work for us!
【MACRO Alert】The US revised down both GDP and inflation for the first quarter！but signals indicate that there is no rush to cut interest rates！
According to the latest data, the revised annualized seasonally adjusted real GDP for the US in the first quarter is 1.3%, lower than the initial estimate of 1.6%, and significantly below the 3.4% growth rate in the fourth quarter of 2023, indicating that consumer spending fell below expectations.
The US economic growth rate decreased The US dollar fell on Thursday, and gold will face the test of US PCE data
On Thursday, May 30th, as GDP data boosted market confidence in interest rate cuts, the US dollar index fell from its high in over two weeks and ultimately closed down 0.433% at 104.68.
STARTRADER Infuses Fresh Energy into Trading with a Dynamic Launch in Thailand!
On May 18th, STARTRADER, an industry leading firm in the financial market, injected fresh energy into the industry in Thailand. Collaborating with the brand’s partners, they held an influential event that opened potential limitless opportunities for all participants.
STARTRADER, a Leader in Global Financial Services, Hosts an Exclusive 'Farmhouse Tea Party' Event in Chengdu
STARTRADER, a leader in the financial market, is committed to delivering excellent services to their clients worldwide. In fact, their client base has expanded to over 200 locations in Asia, Europe, Africa, and Latin America, and they have all garnered widespread satisfaction with the offerings of STARTRADER. This is not surprising as the team continuously and strategically integrates innovative products that further enhance their services.
STARTRADER Strengthens Client Relationships and Expands Outreach with Exclusive Event in Pondicherry
On May 11, 2024, STARTRADER, a distinguished leader in the financial trading industry, hosted an impactful networking event in Pondicherry, India.
All Eye on Today’s PCE Reading
All attention now turns to the crucial PCE reading, the Fed’s preferred inflation gauge, which is expected to have a direct impact on the dollar.
Non-Farm Payrolls Report: Market Movers Ahead?
Australia's economy experienced sluggish growth, with the Gross Domestic Product expanding by only 0.2% in the fourth quarter of 2023, below the anticipated 0.3%. This marked the fourth consecutive quarter of disappointing figures. In April, the ADP jobs report showed the inclusion of 192,000 nonfarm private jobs, slightly lower than March's 208,000, but still exceeding expectations of 179,000. Despite a minor slowdown in job creation, this indicates the labor market's enduring strength. In...
Today's Economic Spotlight
Market Review | May 31, 2024
Understanding Forex Risk Management: Why You Need a Watertight Risk Management Strategy in 2024
Let's Implement It Together By using these FX risk management strategies, you’ll be more prepared to handle market ups and downs with confidence, minimize your losses, and improve your overall profits.
【MACRO Insight】The Japanese Yen Faces Another ‘Challenge’! Will Authorities Act Again in the Face of Resistance from Partner Countries?
In his speech on Wednesday, Seiji Adachi further emphasized that the central bank, when formulating policies, not only needs to consider the risks of economic downturn and deflation but also needs to pay attention to potential upside risks. He pointed out that while it is necessary to avoid premature rate hikes, excessive focus on downside risks could accelerate inflation, forcing the central bank to subsequently tighten monetary policy significantly.
The market's demand for safe haven increased, and the US dollar got a significant increase on Wednesday Be wary of the risk of a sharp drop in gold prices
On Wednesday (May 29th), the US dollar index rebounded for the second consecutive trading day, rising above the 105 level and ultimately closing up 0.487% at 105.14.
Dollar Fuels by Strong Treasury Yield
The U.S. 7-year note auction held yesterday saw tepid demand for long-term Treasury yields, resulting in a decline in bond prices and pushing bond yields higher.
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