News
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FxstreetJul 3, 2024
Natural Gas sees bearish sentiment not fading soon
Gold attempts to break above 50-day SMA after Powell speech
FxstreetJul 3, 2024
Fed officials are getting more concerned about the labor market – BBH
FxstreetJul 3, 2024
United States MBA Mortgage Applications: -2.6% (June 28) vs previous 0.8%
FxstreetJul 3, 2024
US Dollar touch softer ahead of crammed economic calendar
AUD/USD exhibits sideways trend below 0.6700 with US labor market data in focus
Commodities
Natural Gas sees bearish sentiment not fading soon
Natural Gas price (XNG/USD) still stuck in its correction, adding a seventh day for now to the chronicles. The decline is being fueled again by the outlook that European gas storages are still being filled up, despite the current pickup in energy demand.Fxstreet
Jul 3, 2024
Commodities
Gold attempts to break above 50-day SMA after Powell speech
Gold (XAU/USD) rallies into the $2,340s on Wednesday as investors continue to digest the contents of Federal Reserve (Fed) Chairman Jerome Powell’s speech from Tuesday and the shift in monetary-policy stance that his words reflected.Fxstreet
Jul 3, 2024
Economic Indicator
Fed officials are getting more concerned about the labor market – BBH
Federal Reserve (Fed) Chair Jerome Powell said recent data suggest that they’re getting back on a disinflationary path and that unexpected labor market weakening could prompt a policy reaction, BBH macro analysts note.Fxstreet
Jul 3, 2024
Economic Indicator
Euro Area: Growth to continue, despite a decline in PMIs – Danske Bank
In contrast to the strong data releases in previous months, June PMIs declined unexpectedly with the composite indicator falling to 50.8 from 52.5 in May, below expectations of 52.5, Eurozone economy to continue growing “Despite, the downtick, the composite PMI was significantly higher in Q2 compared to Q1, indicating that the economy also grew in Q2.Fxstreet
Jul 3, 2024
Economic Indicator
Markets focus on the US data – Societe Generale
The two most-watched US economic surprise indices, published by Bloomberg and Citi, are showing a steady downward trend – i.e., a lot of negative surprises in the data, Societe Generale FX strategist Kit Juckes notes.Fxstreet
Jul 3, 2024
Technical Analysis
USD/CNH: The next resistance above 7.3100 is at 7.3200 – UOB Group
The US Dollar (USD) could edge above 7.3100. The next resistance at 7.3200 is unlikely to come into view, but it is too early to tell if the next significant resistance at 7.3400 will come into view, UOB Group analysts note.Fxstreet
Jul 3, 2024
