FXTM information and reviews
IronFX information and reviews
Libertex information and reviews
FXCC information and reviews
Markets.com information and reviews
FxPro information and reviews
42 167.25

Dollar makes a move

30 June 2021

Despite a disappointing non-manufacturing Chinese PMI reading, Asian bourses are holding up today with eyes on US jobs data and the latest Eurozone inflation print. The Chinese composite PMI unexpectedly fell from 54.2 to 52.9 earlier this morning with details showing a stabilisation of the manufacturing gauge but a setback in the non-manufacturing reading. New restrictive measures in Gaundong to contain a regional Covid outbreak are mainly responsible for this with waning external demand contrasting with rising domestic orders.

Risk mood improved

Markets took comfort in Moderna saying that its vaccine is effective against the Delta variant of the virus with the S&P500 marginally higher and closing at all-time highs. The tech-laden Nasdaq also notched another record peak rising for a sixth day in seven with Facebook pulling back after hitting the magical $1 trillion market cap level. Also adding to more positive sentiment was the US Consumer confidence which jumped with a bounce both in expectations and the current situation.

The dollar went bid breaking out of its recent range and is heading towards the post-Fed highs. 

In EUR/USD, this means we are trading below 1.19 again with eyes on the recent cycle lows at 1.1847.

With the monthly US labour market report out on Friday, focus will be on US ADP data today which will be monitored for any signs that private sector hiring has quickened. Although not a great predictor of the NFP headline number, a big beat or miss today can cause near-term volatility. Expectations are for a punchy 600k reading with many analysts hopeful that jobs data comes in strong going forward.

Eurozone inflation subdued

Consensus expects headline and core Eurozone inflation prints to remain relatively subdued at 1.9% y/y and 0.9% y/y respectively when the data is released this morning. Country figures already pointed to a slowdown and these are fairly tame readings compared to those elsewhere. With the outlook remaining muted, the ECB will continue to be one of the last remaining dovish central banks on the block.



Trading the BoE and FOMC meetings
Trading the BoE and FOMC meetings

The FOMC and the BoE meeting are firmly in our sights now, and positions and exposures will need to be managed accordingly. Certainly, the FOMC meeting could...

22 Sep 2021

Stocks bounce back after Evergrande panic
Stocks bounce back after Evergrande panic

As investors increasingly liken the Evergrande crisis with the collapse of the Lehman Brothers in 2008, they remain in the dark about the Chinese government's intentions...

21 Sep 2021

Oil Was Put on Hold
Oil Was Put on Hold

The oil price is falling after rallying before. Early in another September week, Brent is trading at $74.50 and has a lot of room to correct. The strong greenback...

20 Sep 2021

Dollar starts Fed week on front foot, stocks hit by Evergrande fallout
Dollar starts Fed week on front foot, stocks hit by Evergrande fallout

Fears of global contagion from the worsening crisis in China's property sector continued to weigh heavily on sentiment at the start of trading on Monday as markets...

20 Sep 2021

Dollar jumps, gold slumps, stocks nervous
Dollar jumps, gold slumps, stocks nervous

Worries that the US consumer is rolling over were dealt a major blow yesterday after the nation’s retail sales for August overpowered some gloomy forecasts. The retail sales...

17 Sep 2021

Energy is the play: how we get to $100 crude
Energy is the play: how we get to $100 crude

Natural gas futures in Europe and the UK are flying, while our natural gas (NG) CFD (the underlying is traded on the NYMEX) pushed over $5.60 and into 7-year highs...

16 Sep 2021

Forex Forecasts

OctaFX information and reviews
HotForex information and reviews
XM information and reviews
FXCM information and reviews
Vantage FX information and reviews
Vantage FX
Moneta Markets information and reviews
Moneta Markets

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.