Daily Market News by Xtreamforex.com

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  1. #551
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    Default U.S. stocks failed to change much as the quarter end approaches

    Daily Market News by Xtreamforex.com
    As investors analyzed remarks made by central bankers at a panel in Europe and anticipated more quarterly profit reports, U.S. stocks ended the day with no movement. On Wednesday, the Dow Jones Industrial Average rose 82.32 points, or 0.3%, to 31029.31. The NASDAQ Composite Index dropped 3.65 points, or 0.03 percent, to 11177.89, while the S&P 500 dropped 2.72 points, or less than 0.1 percent, to 3818.83.

    The market is having a brutal first half after three years in a row of double-digit increases. The S&P 500 has lost roughly 20 percent of its value so far this year, making it likely that this will be its worst first half in fifty years.

    Rising interest rates and sluggish growth are two factors that have a negative impact on stock prices. Stocks have also been affected by the swift return of inflation, a faltering Chinese economy, and a conflict in Ukraine that startled the commodity markets. Before the second half of the year begins on Friday, investors need to reorganise, according to State Street managing director Michael Arone. As the Fourth of July and the first half came to an end, he added, “We’re limping.”

    Investors should take comfort in the fact that a poor first half does not imply a poor second half. The S&P 500 experienced a first-half decline of 21% and a second-half gain of 27% in 1970, concluding the year approximately level. As a result of a number of data releases showing that increased prices are dampening consumer optimism, stocks started the week on a low note. Investors continued to worry that if central banks tightened policy too quickly to combat inflation, it may trigger a recession.

    At the European Central Bank’s annual economic policy conference in Portugal, Federal Reserve Chairman Jerome Powell said the epidemic had disturbed the economy in ways that could continue to generate more inflation or volatility in pricing pressures than previously. Is there a chance that we might go too far? There is unquestionably a risk, Mr. Powell remarked on Wednesday. “Failing to restore pricing stability would be the worse mistake to make, to put it that way,”

    Some investors are losing faith in the Fed’s ability to arrange a “soft landing,” in which interest rates increase to combat inflation without causing the economy to enter a recession. “Until we have a strong indication that inflation has peaked, we anticipate markets will at best remain stable. Our belief in a soft landing has diminished even further, and the market is moving in that direction as well, according to Pictet Asset Management multiasset strategist Arun Sai.

    After three straight days of advances, the yield on the benchmark 10-year Treasury note decreased to 3.091% from 3.206 percent on Tuesday. Prices increase as yields decrease. Investors are anticipating more corporate profit reports as the second quarter draws to a close. Even though FactSet projects a relatively small 5.8 percent increase in S&P 500 company earnings, early misses raise doubts about that estimate.

    The market has been rattled by some earnings reports, according to Andrew Slimmon, a portfolio manager at Morgan Stanley Investment Management. “I assumed we’d see a rally into month-end,” he said. Bed Bath & Beyond, a retailer, provided an example of the point on Wednesday. After the company reported a larger quarterly loss than Wall Street anticipated and announced the departure of its chief executive, the shares dropped $1.54, or 24 percent, to $4.99.

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    Default Worst Quarter for Metals Cap since 2008 due to Global Recession

    Base metals experienced their greatest quarterly decline since the global financial crisis of 2008 as worries about a worldwide recession increased and China’s economy very slowly recovered. Although the decrease has been accentuated by price spikes that month as a result of Russia’s invasion of Ukraine, the London Metal Exchange Index has fallen 25% since the end of March. Tin has fared the worst, falling 38%, followed by a 31% decline in aluminium and a 20% decline in copper. Since the beginning of the epidemic, it was the entire index’s first quarterly decrease.

    According to ED&F Man analyst Edward Meir’s metals research, “markets have been battered by both growth and inflation worries for some time now and are not getting any relief from G-7 central bankers, the majority of which are set on rising interest rates further.” As virus controls were relaxed, an indicator of factory activity in China increased in June for the first time since February. Although there was some recovery, the demand for metals is still being negatively impacted by a sluggish real estate market. Despite a reduction of quarantine regulations, the Covid Zero policy is still in place, thus there is a persistent potential of more limitations if case numbers increase once more.

    The market is still threatened by the impending possibility of a recession in the US and possibly elsewhere in the world. At the annual meeting of the European Central Bank in Portugal, Federal Reserve Chair Jerome Powell and other central bankers cautioned that the globe is transitioning to a regime of greater inflation.

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    Default Australian Dollar Under Pressure as Technical Levels Are in View. Where to for AUD/US

    JPY: Monetary Base y/y, it measures change in the total quantity of domestic currency in circulation and current account deposits held at the BOJ.

    AUD: MI Inflation Gauge m/m, it measures change in the price of goods and services purchased by consumers.

    AUD: ANZ Job Advertisements m/m, it measures change in the number of jobs advertised in the major daily newspapers and websites covering the capital cities.

    AUD: Building Approvals m/m, it measures change in the number of new building approvals issued.

    EUR: German Trade Balance, it measures difference in value between imported and exported goods during the reported month.

    CHF: CPI m/m, it measures change in the price of goods and services purchased by consumers.

    EUR: Spanish Unemployment Change, it measures change in the number of unemployed people during the previous month.

    EUR: Sentix Investor Confidence, it measures level of a diffusion index based on surveyed investors and analysts.

    EUR: PPI m/m, it measures change in the price of finished goods and services sold by producers.

    EUR: German Buba President Nagel Speaks, ECB Governing Council members vote on where to set the Eurozone’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

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    Default GBP/USD Battered by US Dollar Strength

    EUR: German Factory Orders m/m, it measures change in the total value of new purchase orders placed with manufacturers.

    GBP: MPC Member Pill Speaks, BOE MPC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

    GBP: Construction PMI, it measures level of a diffusion index based on surveyed purchasing managers in the construction industry.

    EUR: EU Economic Forecasts, The forecasts serve as the European Commission’s basis for evaluating economic performance and trends of EU member states in regard to potential austerity measures and other forced spending cuts.

    EUR: Retail Sales m/m, it measures change in the total value of inflation-adjusted sales at the retail level.

    GBP: MPC Member Cunliffe Speaks, BOE MPC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

    USD: FOMC Member Williams Speaks, Federal Reserve FOMC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy

    USD: Final Services PMI, it measures level of a diffusion index based on surveyed purchasing managers in the services industry.

    USD: JOLTS Job Opening, it measures number of job openings during the reported month, excluding the farming industry.

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    Default Euro Price Action Setups: EUR/USD, EUR/JPY, EUR/CHF, USD/GBP

    AUD: AIG Services Index, it measures level of a diffusion index based on surveyed service-based companies.

    AUD: Trade Balance, it measures difference in value between imported and exported goods and services during the reported month.

    JPY: 30-y Bond Auction, it measures average yield on a 30-year bond the government sold at auction, and the bid-to-cover ratio of the auction.

    JPY: Leading Indicators, it measures level of a composite index based on 11 economic indicators.

    CHF: Unemployment Rate, it measures percentage of the total work force that is unemployed and actively seeking employment during the previous month.

    EUR : German Industrial Production m/m, it measures change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.

    GBP: Halifax HPI m/m, it measures change in the price of homes financed by HBOS.

    CHF: Foreign Currency Reserves, it measures total value of foreign currency reserves held by the SNB.

    EUR: ECB Monetary Policy Meeting Accounts, It’s a detailed record of the ECB Governing Board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.

    USD: Challenger Job Cuts y/y, it measures change in the number of job cuts announced by employers.

    CAD: Trade Balance, it measures difference in value between imported and exported goods during the reported month.

    USD: Unemployment Claims, it measures number of individuals who filed for unemployment insurance for the first time during the past week.

    USD: Trade Balance, it measures difference in value between imported and exported goods and services during the reported month.

    GBP: MPC Member Mann Speaks, BOE MPC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

    CAD: Ivey PMI, it measures level of a diffusion index based on surveyed purchasing managers.

    USD: Natural Gas Storage, it measures change in the number of cubic feet of natural gas held in underground storage during the past week.

    USD: FOMC Member Bullard Speaks, Federal Reserve FOMC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

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    Default

    gg Up lên cho bạn
    Tổng Ä‘Ã*i 0698421828

  7. #557
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    Default UK PM Boris Johnson says he will resign

    After several of high profile cabinet member. Resigned, PM Boris said he will resign from his current positions, until the new leader, who will take place on. Next month till than he will stay on his current position.

    On press conference Boris said he will step down as conservative party leader and prime minister.
    UK PM Boris Johnson will stay till the new conservative leader is elected.
    On the other side, opposition wants him to leave as UK head of government immediately.
    The decisions come after PM was abandoned by newly appointed ministers.
    Main key event after Boris Johnson resignation:

    After numerous scandals rocked Boris administration and pressure mounted from conservative party colleagues. Boris resigns from his position. He will step down. Once his replacement is chosen. Leadership race is already begun and victor will replace Johnson in October. Labor party leader Keir Starmer demands no-confidence vote if UK PM Boris Johnson doesn’t step down immediately.

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    Default NZDUSD, What’s(expected) next for this pair

    Wednesday the 13th July, the Reserve Bank of New Zealand is expecting the increase of cash rate to 2.5% by increasing the cash rate by 50 points. For the first time in past 2 years NZDUSD finished below .6200. The cause of the fall of NZDUSD is global fears of recession in the recent months and also a hawkish Fed which is behind the surging of USD.

    The support of NSZUSD was at .6120c and hopes are on the U.S CPI which will be on Wednesday, expecting the spark of peak inflation and there is a scope for NZDUSD to rally back towards .6350c. If NZDUSD fail to hold onto the support which is .6120c, the next support level is important psychologically to be .6000c

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    Default Euro above parity by a thread

    It looks like July 2022 could be a memorable month for euro, but unfortunately not for the right reasons. EUR/USD is within a risk of dropping below parity with USD since 2002, at that time EUR was just three years old. In North American session, EUR/USD is trading at 1.008, down 1.00%.

    The euro and all other majors are seeing red against USD today. This is because of the surprisingly strong non-farm payroll report on Friday, the June gain if 381 thousand surpassed the May reading of 336 thousand and easily beat the sonsesus of 240 thousand. The unemployment rate is at 3.6%, while wage growth grew by 0.3%. The solid employment report has raised expectations of another 75bn hike by the Fed by the end of July.

    The ECB will hold its policy meeting on 21st July six days ahead of Federal Reserve. The ECB hike rate is expected to be lift off in this meeting, and another increase is expected in September. ECB interest rates are in negative territory, and a modest 0.25% hike, the most likely scenario at the July meeting, may not be much of a boost to euro, however the perception that the ECB finally tightening will provide some support to the ailing currency.

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    Default Dollar Index Looks Unstoppable now

    in ro ham eslah kon:
    On Friday afternoon the new highs rose to 107.6, on the start of European trading session it went 107.45. Since Oct 2002 this was the highest rate and the index added around 20% to its 2021 low.

    This is a positive secondary effect for the US(strengthening of dollar), reducing inflationary pressures through imports to ending the talk of dollar weakness that has been prevalent since late 2020.

    Central bankers are not welcome too sharp fluctuations in any direction, however they are ignoring the exchange rate against any other currency.

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