forex software

Create and Test Forex Strategies

forex software

Skip to forum content

Forex Software

Create and Test Forex Strategies

You are not logged in. Please login or register.


(Page 25 of 26)

Forex Software → Forex Brokers → ForexMart's Forex News

Pages Previous 1 23 24 25 26 Next

You must login or register to post a reply

RSS topic feed

Posts: 601 to 625 of 632

Re: ForexMart's Forex News

Eurozone GDP grew by 0.2%

The Statistical Office of the European Union (Eurostat) has published final data on eurozone GDP growth in the second quarter. The eurozone economy grew by 0.2% compared to the previous three months and by 0.6% year-on-year, confirming preliminary estimates.

Despite the positive dynamics, consumer spending decreased by 0.1% compared to the previous quarter, and gross capital investment decreased by 2.2%. On the other hand, government spending increased by 0.6% and exports increased by 1.4%, while imports increased by 0.5%.

The dynamics of GDP in individual eurozone countries varies. Germany faced a 0.1% quarter—on-quarter GDP contraction, while France and Italy posted 0.2% growth and Spain 0.8%.

Preliminary data on the dynamics of eurozone GDP in the third quarter will be published on October 30.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Gold Soars to the Stratosphere

No correction? No problem. Even the slightest dips in gold attract new bulls eager to buy at lower prices. The combination of the Federal Reserve's monetary easing, slowing global economy, uncertainty surrounding the U.S. presidential election, high demand from central banks, and gold's status as a safe-haven asset leaves no doubt about the strength of the upward trend in XAU/USD and the precious metal's ability to set new records.

Rumors of an impending recession are pushing treasury bond yields downward, which in turn is causing global debt yields to fall. The average yield on investment-grade government and corporate debt has dropped to 3.3%, its lowest level since September 2022. The main beneficiary of this process is gold, which pays no interest and easily outperforms bonds when rates fall.

Global Bond Yield Dynamics

The cooling of the U.S. labor market and economy forces the Fed to begin a monetary easing cycle, which has historically benefited precious metals. In theory, the U.S. dollar weakens under such conditions, providing a tailwind for XAU/USD. However, as events in 2023-2024 have shown, gold can rise even amidst a rally in the USD index. It serves as an alternative to fiat currencies, which are suffering from the synchronization of the Fed's monetary easing with other central banks.

Moreover, central banks, especially in developing countries, favor precious metals as assets immune to third-party countries' influence. In particular, the U.S.'s push to impose the dollar as a reserve currency and means of payment is facing resistance and has triggered a process of de-dollarization. As a result, central banks are likely to maintain a high appetite for gold purchases.

Whether Donald Trump or Kamala Harris comes to power in the U.S., the budget deficit will continue to grow. It stands at a record $35.4 trillion, and there are no signs of it decreasing. Both Republicans and Democrats will push for new fiscal stimulus measures, which will increase the imbalance and heighten default risks. This creates an ideal environment for safe-haven assets like gold.

Thus, XAU/USD has plenty of reasons to continue its rally. Will the precious metal wait for the August U.S. inflation data, or will it surge to record highs beforehand? In any case, the deflationary process amid a cooling labor market speaks about the slowdown of the U.S. economy, increases the risks of aggressive monetary easing by the Fed, and lights a green light for the analyzed asset.

Technically, the daily gold chart shows a Spike and Ledge pattern. A breakout of the upper boundary of the consolidation range at $2470–2525 per ounce will increase the chances of a sustained rally toward at least $2575 and serve as a signal for purchases.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Solar vs. Media Storm: Solar Gains, Trump Media Falls!

US Stocks Gain Thanks to Tech Sector
All three major US stock indexes ended higher on Wednesday. A solid rally in tech stocks offset a morning of disappointment caused by inflation data that dashed hopes that the Federal Reserve would cut interest rates by 50 basis points next week.

The tech sector, represented by the S&P 500 (.SPLRCT), posted an impressive 3.3% gain after starting the day lower. Key to this was Nvidia (NVDA.O), whose shares soared 8%. The reason for the rise was a report from Semafor that the US government is considering allowing Nvidia to export advanced chips to Saudi Arabia.

Political factors fuel investor interest
An additional factor influencing market sentiment was events in the political arena. Democratic candidate Kamala Harris managed to put her opponent, Republican Donald Trump, on the defensive during the presidential debate, which caused some reaction from the market.

Inflation data: expectations were not met
Earlier in the day, the US Department of Labor released data on the consumer price index (CPI), which rose 0.2% in August, which is in line with July. Meanwhile, the core CPI, which excludes volatile food and energy categories, rose 0.3%, beating economists' expectations of a 0.2% gain.

Market Rate Changes: Traders Adjust Forecasts
Following the release of inflation data, traders revised down their expectations for a Fed rate cut. The probability of a 25 basis point rate cut rose to 85% from 66% the day before, while the probability of a 50 basis point cut fell to 15% from 34%, according to CME Group's FedWatch tool.

Investors were hoping for softer inflation data
"The market was probably expecting a more muted inflation reading, which would give the Fed more reason to cut rates by 50 basis points," said Jack Janasiewicz, portfolio manager at Natixis. "However, the report came in slightly above expectations, putting additional pressure on the Fed to limit itself to a 25 basis point cut."

As the trading day wore on, investors gradually adjusted to the new inflation data. Janasewicz also emphasized that it was the technology sector that supported the broader market, standing out from the crowd.

Indices rise amid gains in tech stocks
The Dow Jones Industrial Average (.DJI) rose 124.75 points, or 0.31%, to 40,861.71. The S&P 500 Index (.SPX) rose 58.61 points, or 1.07%, to 5,554.13. The Nasdaq Composite (.IXIC) rose 369.65 points, or 2.17%, to 17,395.53.

Sector Breakdown: Who's Leading and Laggards?
Of the 11 key S&P 500 sectors, six were up, with consumer discretionary stocks (.SPLRCD) leading the way, up 1.3%. Meanwhile, energy (.SPNY) was the laggard, down 0.93%, and consumer staples (.SPLRCS) was down 0.88%.

Financials Hold Their Ground
The S&P 500 Financials (.SPSY) managed to pare its losses by the end of trading, closing down just 0.39% after falling more than 2% at the session low.

Financials Gain
American Express (AXP.N) led the pack, posting the biggest gains after its CFO said on a conference call that lending was holding up and consumer spending was strong.

Big U.S. banks also pared early losses to end the day higher. Goldman Sachs (GS.N) rose 0.9% and JPMorgan (JPM.N) rose 0.8%. The financial sector was under pressure earlier Tuesday on concerns about a drop in trading revenue, a slow recovery in investment banking and a possible decline in interest income in light of upcoming rate changes.

Market Reacts to Political Debate
The political debate also caused notable market moves. Eight weeks before the presidential election and after the debate, contracts on a Kamala Harris victory on the PredictIt platform rose to 57 cents on the dollar of potential payout, up from 53 cents before the debate. Donald Trump contracts fell to 48 cents from 52 cents.

These changes led to a decline in the value of stocks of companies that were expected to benefit from a Trump presidency. In particular, stocks related to cryptocurrency, blockchain, and private prisons showed a decline. Trump Media & Technology Group (DJT.O) shares fell 10.5%.

Solar companies are favorites due to political expectations
Amid the expected benefits for green energy from a Harris administration, shares of solar panel manufacturers have significantly increased. First Solar (FSLR.O) climbed 15.2%, Sunrun (RUN.O) added 11.3% and SolarEdge Technologies (SEDG.O) rose 8.5%.

Markets Remain Unsure After Debate
While the debate did not provide Wall Street with a clear answer to important policy questions, experts believe that Kamala Harris' proposals to raise corporate taxes could weigh on corporate profits. Meanwhile, Donald Trump's tough stance on tariffs could increase inflation risks.

GameStop Slips After News of Share Sale
GameStop (GME.N) shares fell nearly 12% after the company announced plans to issue up to 20 million new shares and reported a decline in second-quarter revenue, raising investor concerns about the company's future growth.

Lithium Stocks Rise After CATL Announcement
Lithium stocks surged after Chinese battery major CATL (300750.SZ) announced plans to adjust lithium carbonate production at its Yichun facility. Shares of Albemarle (ALB.N), one of the world's largest lithium miners, rose 13.6% in response to the news.

Marginal Markets: Stocks Rising and Falling
At the New York Stock Exchange (NYSE), advancers outnumbered decliners 1.4 to 1, with 342 new highs and 130 new lows. On the Nasdaq, 2,337 stocks rose and 1,882 fell, creating a 1.24-to-1 gainer-decliner ratio.

The S&P 500 posted 21 new 52-week highs and 17 new lows, while the Nasdaq Composite posted 48 new highs and 129 lows. Total trading volume on U.S. exchanges reached 12.19 billion shares, above the 20-day moving average of 10.80 billion shares.

Market Rebounds After Morning Selloff
Wall Street recovered from a morning selloff on Wednesday, closing higher. Brent crude prices also rebounded from three-and-a-half-year lows. This came as a key inflation report bolstered expectations that the Federal Reserve will announce a 25 basis point interest rate cut next week.

Debate and the Market: Analyzing the Implications
Investors were closely watching the US presidential debate on Tuesday night to assess possible changes in economic and fiscal policy after the November elections.

By mid-trading, all three major US stock indexes had reversed their downward trend, turning a morning sell-off into a rally. Technology (.SPLRCT), especially chip makers (.SOX), outperformed significantly, helping the Nasdaq to lead the way.

Inflation Data: Mixed Signals for the Market
The annual rate of inflation, as measured by the Consumer Price Index (CPI), fell 0.4 percentage points to 2.5%, below expectations, according to the US Department of Labor. But the benchmark index, which excludes volatile categories such as food and energy, posted a 0.3% monthly gain and a 3.2% annual gain, beating analysts' forecasts.

Inflation expectations remain mixed
"The inflation report was a mixed bag, satisfying both the bears and the bulls," said Chuck Carlson, CEO of Horizon Investment Services in Indiana. "Initially, it looked like a 50 basis point rate cut was unlikely," he continued. "Now investors may be starting to realize that it's not such bad news."

Markets predict Fed rate cut
Markets are pricing in an 85% chance that the Federal Reserve will cut its key interest rate by 25 basis points at its upcoming meeting. The chance of a larger 50 basis point rate cut has fallen to 15%, according to CME's FedWatch tool.

European stocks remain steady ahead of ECB decision
European stock markets ended the trading session little changed as investors turned their attention to the European Central Bank (ECB) and its upcoming interest rate decision expected on Thursday. The pan-European STOXX 600 index (.STOXX) rose a symbolic 0.01%, while the MSCI index of global stocks (.MIWD00000PUS) rose 0.62%.

Asian Markets, Emerging Economies in the Red
Emerging market stocks were down 0.37%. MSCI's broad index of Asia-Pacific shares excluding Japan (.MIAPJ0000PUS) fell 0.24%, while Japan's Nikkei (.N225) lost 1.49%.

Bonds: Yields stabilise after recent swings
U.S. 10-year Treasury yields steadied after an early decline, with rates hitting their lowest since June 2, 2023. The 10-year yield was last at 3.6609%, down from 3.644% at Tuesday's close, with the price down 5/32. The 30-year note also fell 12/32, pushing its yield up to 3.9743% from 3.954% the previous day.

Dollar Strengthens on Inflation Data
The U.S. currency showed modest gains against a basket of global currencies after inflation data confirmed expectations for a smaller 25 basis point rate cut.

The dollar index (.DXY) rose 0.08%, while the euro slipped 0.04% to $1.1015.

Yen Strengthens, Pound Loses
The Japanese yen strengthened 0.04% against the U.S. dollar to trade at 142.40 per dollar. The British pound was last seen at $1.3042, down 0.28% on the day.

Oil Recovers After Selloff
Oil prices steadied after Tuesday's big losses as U.S. crude inventories fell and supply disruptions from Hurricane Francine offset concerns about weaker global demand.

U.S. WTI crude rose 2.37% to $67.31 a barrel, while Brent crude rose 2.05% to $70.61 a barrel.

Gold Loses as Rate Cut Hopes Dim
Gold prices slipped as expectations for a bigger Fed rate cut at its upcoming monetary policy meeting faded.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Moderna's bleak outlook drags stocks lower, Warner Brothers inspires investors with 10% gain

Wall Street is on the rise again: gold hits records
US stock markets showed solid gains on Thursday, with gold prices reaching a new all-time high. Investors are optimistic about the upcoming Federal Reserve meeting, expecting an interest rate cut as early as next week.

Stock indices end the day higher
The key US indices fluctuated in mixed territory for most of the trading day, but showed solid gains by the close. The European Central Bank's recent decision to cut interest rates and slightly better-than-expected U.S. producer price data helped fuel the rally. Despite this, investors remain confident that the Fed will cut rates slightly at its next meeting.

The Dow Jones Industrial Average added 0.58%, the S&P 500 rose 0.75%, and the tech-heavy Nasdaq Composite rose 1%. Strong results from tech companies helped the Nasdaq take the lead in growth.

World markets trending
The MSCI World Equity Index, which measures markets around the world, rose 1.08%, confirming positive investor sentiment in global markets.

ECB Cuts Rates Again
Earlier on Thursday, the European Central Bank announced its second interest rate cut in three months, which was driven by slowing inflation and weakening economic growth in the eurozone. The cut was predictable, but the ECB has yet to give clear signals about its future plans.

While the 0.25% rate cut did not come as a surprise to the market, the question remains as to how decisively and quickly the central bank will act in the remaining months of the year.

Focus on the Federal Reserve
Market participants are now focused on the upcoming Federal Reserve meeting, which will decide on the key interest rate on Wednesday. Investors are expecting the Fed to make the first rate cut since 2020. However, fresh economic data released on Thursday suggest that the Fed will likely limit the rate cut to 25 basis points, rather than the larger 50 basis point cut that some analysts had previously expected.

Inflation data softened expectations
An important factor for the upcoming Fed decision was the inflation data released on Wednesday and Thursday. The indicators point to a slight increase in prices, but the rate of inflation remains relatively low. Thus, the core consumer price index increased by 0.28% in August, which is higher than the expected growth of 0.2%. In addition, the data on producer prices also exceeded expectations: in August, they grew by 0.2% instead of the expected 0.1%. Despite this, the general trend remains in favor of slowing inflation, which increases the likelihood of a moderate rate cut.

The dollar weakens, the euro grows
Amid expectations of a rate cut, the US dollar showed weakness against major world currencies. The dollar index, which tracks its dynamics against a basket of leading currencies, fell by 0.52%, reaching 101.25. At the same time, the euro strengthened by 0.54%, reaching $1.1071. This trend reflects global changes in investor sentiment, who expect further easing of monetary policy in the United States.

Oil prices rise: Hurricane impact, production recovery
Oil prices continued their upward movement, adding almost 3%, amid investor concerns about how severely U.S. crude output will be affected by Hurricane Francine in the Gulf of Mexico. On Thursday, producers announced forced production cuts, but there were signs that some export ports were partially reopening.

WTI crude rose 2.72% to $69.14 per barrel, while benchmark Brent crude rose 2.21% to $72.17 per barrel.

Gold at new heights: a safe haven for investors
Gold prices soared to all-time highs as expectations of an imminent Fed rate cut made the precious metal even more attractive for investment. Amid market instability, gold has once again confirmed its status as a "safe haven" for capital.

Spot gold rose 1.85% to a record $2,558 an ounce, while U.S. gold futures rose 1.79% to settle at $2,557 an ounce.

Bond Market: Yields Rise on Inflation Data
U.S. Treasury yields also showed modest gains. The two-year yield rose 1.2 basis points to 3.6579%. The 10-year yield rose 3 basis points to 3.683%.

Inflation Beats Expectations
The Producer Price Index (PPI), which tracks changes in the cost of goods and services at the producer level, rose 0.2% in August, beating expectations for a 0.1% gain. The core measure, which excludes volatile items such as food and energy, rose 0.3%, also beating expectations for a 0.2% gain.

Labor Market Remains Stable
The number of initial jobless claims in the United States for the week ending September 7 was 230,000, which was in line with analysts' expectations. This data confirms the stable state of the American labor market, despite some macroeconomic fluctuations.

Employment and Economic Growth: Market Awaits Fed Decision
The latest economic reports show weakening employment and slowing economic growth, which has raised expectations for a deeper 50 basis point rate cut by the Federal Reserve. However, the release of inflation data on Wednesday changed the market sentiment, with traders now assessing the likelihood of a more modest cut.

Fed: Rate Cut Likely
Despite Thursday's fluctuations, CME's FedWatch tool showed that traders still have a 69% chance of expecting the Fed to cut interest rates by 25 basis points at the September 17-18 meeting. If that happens, it would be the first rate cut since March 2020, marking an important step in monetary policy.

Russell 2000 Leads Gain
Against these expectations, the Russell 2000 index of small-cap companies was the best performer among the indices, gaining 1.2%. That underscores confidence that small businesses can benefit from the upcoming easing of credit conditions.

S&P 500: All Sectors in the Green
All 11 industry sectors in the S&P 500 ended the day in positive territory. Communications services led the way, rising 2%. Warner Bros Discovery was particularly strong, jumping 10.4% after the company announced an agreement with Charter Communications to give customers access to ad-supported versions of its Warner Max and Discovery+ streaming services. Charter also posted a strong gain, gaining 3.6%.

Moderna Under Pressure
Not all stocks ended the day in positive territory. Shares of vaccine maker Moderna fell 12.4%, hitting their lowest since November last year. The company announced revenue guidance for next year in the range of $2.5 billion to $3.5 billion, which was lower than analysts expected, which caused the stock to fall.

Kroger pleases investors: shares soar
One of the brightest news of the day was the rapid growth of shares of the supermarket chain Kroger, which rose by 7.2%. This happened because the company exceeded expectations for the second quarter results and raised the lower limit of its annual sales forecast. The optimistic report became a signal to investors that the chain is confidently coping with market challenges.

Gold miners on a wave of success
Shares of companies involved in gold mining sharply went up, following the rise in prices of the precious metal. The spot price of gold reached an all-time high, which led to a 5.8% increase in the Arca Gold BUGS index. Investors continue to view gold as a safe haven against market risk and inflation, fueling interest in the gold mining sector.

Bulls outnumber losers on the NYSE and Nasdaq
On the New York Stock Exchange (NYSE), advancers outnumbered losers by a wide margin, 3.45 to 1. There were 405 new highs and just 46 new lows, a strong showing for bulls.

On the Nasdaq, advancers also outnumbered losers by a wide margin, 1.73 to 1. The S&P 500 posted 37 new yearly highs and no new lows, signaling positive sentiment in the market, while the Nasdaq Composite posted 73 new highs and 76 new lows, showing more diversity in stock performance.

Volumes Remain Steady
The total volume of shares traded on U.S. exchanges was 10.58 billion, just slightly below the 10.82 billion average over the past 20 trading sessions. This figure shows that activity in the markets remains strong despite some swings in individual sectors.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

India: economic growth is possible up to 8%

The head of the Reserve Bank of India, Shaktikanta Das, expressed confidence in the country's ability to achieve sustainable economic growth in the region of 7.5-8% in the medium term.

This statement was made against the background of published data on the slowdown in India's GDP growth to 6.7% in the second quarter of this year, compared with 8.2% in the same period last year. This dynamic has increased the pressure on the RBI to lower interest rates.

Das stressed that steady growth of 7.5-8% is realistic for the largest country in the world. Although the International Monetary Fund previously called India the «fastest growing major economy in the world,» growth has slowed in recent quarters and the IMF forecasts a decline to 6.5% in 2025.

The head of the RBI also noted that the influence of external factors, such as the actions of the Fed, is taken into account, but internal factors remain decisive. The question of a possible reduction in the RBI rate in October remained open. Das stated that the decision will depend on the monthly dynamics of inflation and growth.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Oil growth is held back by concerns about weakening demand

Yesterday, Brent oil prices rose to $73.30 per barrel, supported by expectations of lower interest rates and supply disruptions caused by Hurricane Francine.

However, this growth was held back today by concerns about declining demand, especially in China, amid weak economic data released over the weekend. The current Brent quote is $72.50 per barrel. North American WTI crude is trading near $68.96.

Supply disruptions due to Hurricane Francine

After Hurricane Francine, oil production in the Gulf of Mexico decreased by 12%, and natural gas production by 16%. These disruptions may contribute to further price increases, although oil companies have been actively restoring production in recent days as the hurricane weakens.

Awaiting the Fed's decision

Investors are waiting for the meeting of the US Federal Reserve System, which will be held on Wednesday. The central bank may lower rates, which will support oil prices. Expectations of a more significant rate cut of 50 basis points put pressure on the dollar and stimulate the growth of oil prices.

Concerns about demand

However, the increase in oil prices is limited by concerns about slowing economic growth in China. The recent weak economic performance of China, the world's largest oil importer, has increased concerns about demand for black gold. An additional negative was brought by the forecasts of OPEC and the IEA, which lowered expectations of oil demand for the coming years.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Inflation in the eurozone has slowed to 2.2%

Inflation in the eurozone slowed to 2.2% in annual terms in August, according to the final report of Eurostat. This decrease compared to July's 2.6% inflation coincided with the preliminary estimate and forecasts of analysts. On a monthly basis, prices in the region increased by 0.1%.

The CPI Core index (core inflation), which does not take into account volatile prices for energy, food and alcohol, showed an increase of 2.8% year-on-year.

Prices for food, alcohol and tobacco products increased by 2.3%, similar to the July figure. Energy prices, on the contrary, decreased by 3% after rising by 1.2% in July. Services have risen in price by 4.1%. In the 27 EU countries, the annual price increase was 2.4% after 2.8% in July.

The lowest inflation was recorded in Lithuania (0.8%), Latvia (0.9%), Ireland, Slovenia and Finland (1.1%). The highest growth in consumer prices was recorded in Romania (5.3%), Belgium (4.3%) and Poland (4.0%).
More news on our website: https://bit.ly/4a81506

In Germany, annual inflation fell to 2.0% from 2.6% in July, in France — to 2.2% from 2.7% a month earlier, in Italy — to 1.2% from 1.6% in July, in Spain — to 2.4% after 2.9% a month earlier.

Re: ForexMart's Forex News

Kiyosaki: Bitcoin, gold and silver will soar in price

Robert Kiyosaki, author of the book «Rich Dad, Poor Dad», predicts significant growth of bitcoin against the background of easing monetary policy of the US Federal Reserve System.

In his opinion, lower interest rates will force investors to move away from "fake assets" such as bonds and invest in real assets such as bitcoin, gold and silver.

In his post on the social network «X», Kiyosaki stressed that those who argue about the advantages of gold or bitcoin will lose when the Fed continues to cut rates and prices for real assets begin to rise. The author criticized the debate about which is better, gold or bitcoin, comparing them to people «arguing about a Ferrari or Lamborghini while on the bus.»

After the Fed's rate cut on Wednesday evening, bitcoin continued its recent rise. On Thursday morning, the main digital coin rose to 3-week highs at $62,645. Subsequently, the quotes partially rolled back – the current BTC/USD quote is $62,093.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The consumer confidence index in the UK in September fell to the lowest in 6 months

The UK consumer confidence index in September 2024 fell to the lowest value in the last six months, amounting to -20 points, which is significantly lower than in July and June, when it was at the level of -13 points.

For comparison, in September 2023, the index was at -27 points (previously reported at -21 points). All five components of the indicator showed a decrease compared to July.

The subindex, reflecting consumers' assessment of their financial situation over the past year, fell to -9 points (in August it was -7), which is better than a year earlier, when it was -18 points. Personal finance expectations for the next 12 months also worsened, falling to -3 points from +6 in the previous month. A year earlier, this indicator was at the level of -6 points.

Consumers' assessment of the overall economic situation over the past year has dropped to -37 points compared to -35 a month earlier. The forecast for the next 12 months deteriorated even more: to -27 points from -15 in August.

The willingness of the British to spend money on large purchases also decreased, the subindex fell to -23 points from -13 points in August. In September last year, this indicator was at the level of -28 points.

The average index of consumer confidence for the period from 1981 to 2024 is -10.9 points. The record value of 10 points was recorded in June 1987, while at least (-49 points) was recorded in September 2022.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Gold updated the record in anticipation of fresh signals from the Fed

Gold prices have reached a new historical high in Asian markets due to the optimistic sentiment caused by lower interest rates in the United States. Additional support for the market was provided by the expectations of speeches by representatives of the Federal Reserve System, which may shed light on the further steps of the regulator.

After the Fed lowered the rate by 50 basis points, gold has updated its records and continues to hold its positions confidently. The spot price of gold rose 0.3% to reach $2,631.19 per ounce, while futures rose 0.4% to $2,655.80 per ounce. The weakening of the dollar and the decline in Treasury bond yields also contributed to the strengthening of the metals market.

Experts expect further easing of the Fed's monetary policy, which may lead to a reduction in rates by an additional 125 basis points during the year. A number of key Fed officials, including Chairman Jerome Powell, are scheduled to speak in the coming days, which may provide additional signals for the markets.

Another important event will be the publication on Friday of a report on the PCE index, the main indicator of inflation for the Fed, which may affect further decisions by the regulator on rates. In addition, investors' attention is focused on the meetings of the central banks of Switzerland and Sweden, where interest rates are also expected to decrease.

Other precious metals, however, are showing a decline. Platinum futures fell 0.6% to $974.10 per ounce, while silver contracts fell 0.2% to $31.43 per ounce.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The Central Bank of China reduces a number of rates as part of a large-scale economic stimulus program

The People's Bank of China has announced a package of measures to stimulate the economy. The head of the regulator, Pan Gongsheng, announced a reduction in the reserve requirement ratio (RRR) for large banks by 0.5 percentage points to 9.5%, which will release about 1 trillion yuan ($142 billion) of liquidity. There will be no changes for small and rural banks. It is expected that during the year the RRR may be reduced by another 0.25-0.5 percentage points.

The NBK also lowered the rate on seven-day reverse repo transactions from 1.7% to 1.5%, which will reduce the cost of borrowing under the medium-term lending program (MLF). For the first time in 10 years, the bank simultaneously lowered the RRR and the interest rate.

In addition, it is planned to reduce the base interest rate (LPR) by 0.2-0.25 percentage points, which will affect the cost of corporate, consumer and mortgage loans. Interest rates on mortgages already issued will be reduced by 50 bps, affecting borrowings worth about $5.3 trillion. The initial payment for the purchase of a second home has been reduced to a record low of 15%.

The NBK also plans to refinance mortgage loans and has increased guarantees on bank loans for unsold housing to 100%. Beijing is considering the creation of a stabilization fund for the stock market with support in the amount of at least 800 billion yuan. As part of the program, it is planned to exchange illiquid assets for government bonds and provide a 300 billion yuan re-loan for share repurchase.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Oil may rise in price due to a drop in production in the United States

Analysts believe that after the recent decline in crude oil prices, the situation may soon change due to the expected slowdown in oil production in the United States.

For most of 2024, oil showed positive dynamics, but in recent months the yield has turned negative: the cost of Brent decreased by 3.5%, and WTI – by 0.4% year-on-year.

According to experts, fluctuations in oil prices are caused by both demand and supply factors. The global economy is slowing down, which is holding back demand, and market participants are concerned about a possible increase in oil production by the largest producers — OPEC+ and the United States. However, a number of experts believe that these expectations have already been taken into account in current prices, and in fact the situation may turn out to be different.

«Although oil demand was low in 2024, its decline is not accelerating, which is important against the background of rising global liquidity and lower interest rates,» Wells Fargo Bank said.

In addition, the bank assumes that with prices in the range of $60-70 per barrel, OPEC+ and the United States will reduce rather than increase production, which will help strengthen the market.

Special attention is paid to the statements of OPEC+ on the postponement of the increase in production scheduled for October 2024, as well as the fact that production growth in the United States may also slow down, as the cost of opening new wells reaches $ 64 per barrel. As a result, oil prices are projected to start rising again in the coming months.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The market is waiting for the ECB to cut rates after inflation in France and Spain fell below 2%

The probability of a reduction in key interest rates by the European Central Bank in October increased significantly after the publication of data on slowing inflation in France and Spain.

According to traders, the chances of a 25 basis point rate cut at the ECB meeting on October 17 have increased to 80%. Analysts at major banks such as BNP Paribas and HSBC share similar expectations.

Consumer prices in France, harmonized according to EU standards, increased by 1.5% y/y in September, which is significantly lower than the August figure of 2.2%. A similar trend is observed in Spain, where inflation slowed to 1.7% – this is the lowest growth rate since June 2023, while in August the price increase was 2.4%.

Both of these indicators have reinforced expectations that inflationary pressures are easing, which may lead to a change in the ECB's monetary policy. Currently, the ECB deposit rate is 3.5%, the rate of basic refinancing operations is 3.65%, and the rate on margin loans is 3.9%.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The Fed will cut the rate by another 50 bps in 2024 while maintaining the stability of the economy

The US economy remains strong, and the Federal Reserve System (Fed) intends to maintain it in this state, Federal Reserve Chairman Jerome Powell said at the annual meeting of the National Association for Business Economics (NABE).

Powell also noted that the Fed is trying to reduce inflation, while preventing a significant increase in unemployment.

The Fed's recent decision to lower the interest rate by 50 basis points (bp) reflects confidence that the adjustment of monetary policy will maintain the stability of the labor market with moderate economic growth and a reduction in inflation to the target 2%. This is what is called a «soft landing» of the economy.

According to the median forecasts of the Fed's management, the base rate will be reduced by another 50 bps by the end of 2024, from the current level of 4.75-5% per annum.

«If the economic situation develops according to our forecasts, we will cut the rate twice by 50 bps,» Powell said, stressing that further decisions will depend on incoming economic data. The main goal is to bring the rate to a neutral level, which, according to the Fed's estimates, is about 3%.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The dollar is strengthening, the euro is falling: all attention is on the US labor market

The DXY dollar index soared to a 3-week high of 102.05, bringing the EUR/USD pair to strong support at 1.10. The dollar's recovery is driven by strong data on the US economy and labor market, as well as expectations of a slowdown in the Fed's rate cuts.

On Thursday, the dollar index reached a six-week high, supported by indicators of the service sector and a positive picture on the labor market. The probability of a Fed rate cut by 50 bps in November fell to 32%, which led to a 1.5% strengthening of the dollar over the week.

At the same time, the euro is losing 1.2% amid the likelihood of an ECB rate cut this month to 90%. The slowdown in inflation and the deterioration of the economic situation in the eurozone may force the regulator to soften the PREP.

On Friday, all attention will be focused on the Non-farm payrolls report on the US labor market. The number of employees is expected to increase by 150 thousand. High indicators can strengthen the growth of the dollar.

Against the background of geopolitical tensions in the Middle East, the USD/JPY pair is also strengthening, reaching 147.0. The Japanese authorities are not planning new currency interventions yet.

In the UK, the index of business activity in the service sector slowed down, but remained steady. The GBP/USD pair is trading around 1.315.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Investor concerns are slowing down the growth of the Brazilian economy

The easing of the monetary policy of the US Federal Reserve and China's intention to stimulate its economy create favorable conditions for Brazil.

Despite this, Moody's, which upgraded Brazil's rating to the highest junk level, could not convince investors. The Brazilian real and the country's stock market are showing weak results.

Experts note that rating agencies are focused on past events, and markets are looking to the future. Since the beginning of 2024, the Brazilian real has lost about 11% of its value, and the benchmark Bovespa Brazilian stock index has declined by 1.9%.

Despite the positive external factors, the Brazilian real continues to fall. Investors fear that the Brazilian economy is overheated, which could lead to a tightening of monetary policy. Last month, the Brazilian Central Bank raised the rate by 0.25% to 10.75% per annum, which also does not inspire optimism.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Oil returned to below $80 after a sharp rise

On Tuesday, oil declined from the area of local highs, as investors began to take profits after a significant increase the day before.

Yesterday, Brent reached new highs since the end of August, breaking the $81 per barrel mark. The current quote of the asset is $79.20 per barrel. North American WTI crude is trading near $75.40 after yesterday's rise to $77.70 per barrel.

Last week, oil strengthened amid geopolitical tensions in the Middle East, where traders fear possible Israeli attacks on Iran's oil facilities. An additional risk arose in the Gulf of Mexico, where Chevron temporarily stopped work on its Blind Faith oil and gas platform due to the hurricane.

The API report on oil and petroleum products reserves in the United States is expected to be released today, preceding the official data of the Ministry of Energy. However, traders are now primarily focused on geopolitics, which has a greater impact on market sentiment.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Bank of America: inflation will remain moderate in September

Bank of America forecasts moderate growth in both the core and core consumer price index in September, indicating stable core inflation without alarming signals.

The bank expects a monthly increase of 0.1% for the main index and 0.3% for the base index. Lower energy prices will soften the growth of the main indicator, while higher rents and used car prices will support the growth of the base indicator.

On an annual basis, Bank of America forecasts a decrease in core inflation to 2.3%, while the core CPI will remain at 3.2%. BofA analysts, based on data on inflation forecasts by component, expect core inflation at 0.18% on a monthly basis.

Despite the fact that inflation continues to move in the right direction, the upcoming report is likely to have no significant impact on the central bank's rate. The findings confirm the possibility of further rate cuts, but do not give grounds for concern about the current inflation rate.

If the report shows an acceleration in the pace of price growth in September, this could be a positive for the dollar, which has been strengthening for eight consecutive sessions at Wednesday's auction.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

British economy: growth after two months of stagnation

According to operational data from the Office for National Statistics, published on Friday, the British economy grew by 0.2% in August compared with the previous month.

After stagnating in June and July, following modest but steady growth at the beginning of the year, the UK emerged from a mild recession earlier this year.

The release of economic growth data coincided with the upcoming autumn budget, which Treasury Secretary Rachel Reeves will present at the end of the month. The budget, expected by many, will include tax increases and spending cuts aimed at eliminating the estimated deficit in public finances, estimated at 22 billion pounds ($29 billion). However, the Conservative Party, which ruled the country before the snap elections, denies there is a deficit.

Reeves also did not rule out the possibility of revising the rules on the country's debt obligations in order to attract more investment.

The government claims that these measures are part of its «national renewal» program aimed at restoring optimism in society after warnings about the state of the economy.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Bitcoin at $70,000: market expectations against the background of elections

On Monday, the price of bitcoin reached a three-month high, exceeding $69,500. This growth is associated with increased speculation about the likely victory of Donald Trump in the upcoming elections.

Recent polls and forecast markets show an increase in Trump's chances of winning, which causes increased interest in bitcoin. Trump has repeatedly expressed support for cryptocurrencies, promising to build «the future of bitcoin in America,» even accepting donations in cryptocurrencies during his campaign.

If he wins, traders expect more loyal regulation of cryptocurrencies in the United States, which can be a powerful incentive for the growth of the bitcoin exchange rate.

Experts also note that breaking the $70,000 mark will be a key bullish signal for bitcoin.

At the same time, there are only two weeks left before the vote, which creates instability in the markets. Investors in search of «safe havens» prefer gold and the dollar, which reached a record high on Monday. Despite this, the latest capital movement data shows that institutional investors resumed buying cryptocurrencies last week.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The euro is weakening, the dollar is rising amid the upcoming elections in the United States

The dollar index continues to grow, reaching two-month highs and approaching 104.0.

This growth is due to investors' expectations that the US Federal Reserve will maintain a cautious position on lowering interest rates. Recent economic data show the stability of the American economy, and inflation is decreasing smoothly.

At the same time, the euro continues to weaken after the recent decision of the European Central Bank to cut key interest rates. The situation is aggravated by weak inflation data in Germany, indicating a slowdown in economic growth in the eurozone. The Chinese yuan also weakened against the dollar, returning to 1.5-month highs at 7,125.

Against the background of the upcoming US elections, investors predict a different dollar exchange rate depending on the results of the US elections. Historically, the Republican presidency is associated first with a strong and then a weakening dollar, while Democratic presidents, on the contrary, usually start with a weak dollar, which then strengthens.

In the near future, attention will be focused on the publication of preliminary business activity indices (PMI) for the eurozone, which will provide updated information on economic indicators in October.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Investors are leaving thematic ETFs en masse: AI, video games and other topics are losing popularity

There is a change of favorites in the global investment market. Investors are increasingly moving from exchange-traded funds (ETFs) specializing in certain topics to traditional ETFs linked to stock indexes.

Analyst data indicate that the outflow of funds from thematic ETFs has continued for the third year in a row. This year, $5.8 billion has been withdrawn so far, which already exceeds the outflow for the whole of 2023 ($4.8 billion).

The growth of stock indexes, which are near record highs, is one of the reasons for this phenomenon. The five largest ETFs tracking the S&P 500 and Nasdaq 100 indices have received inflows of $170 billion this year.

Experts believe that investors may prefer the stability and broad diversification offered by index ETFs. They also point out that thematic investing itself involves risks. Choosing the right topic, the stocks that will benefit most from this topic, and accurately determining the time of purchase of the fund — all this requires high qualifications and experience.

This trend may indicate that investors are becoming more conservative in their investments. But it's worth noting that thematic ETFs can return to favor if certain topics, such as AI or the metaverse, show strong growth.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Oil ends the week with growth amid geopolitical uncertainty

The oil market ended the week with growth, recovering some of the losses on Monday and Tuesday. Brent crude futures rose 0.77% to $75.15 per barrel, while U.S. WTI rose 0.85% to $70.79, despite continued uncertainty in the Middle East.

Traders are closely monitoring the development of the situation in the Gaza Strip, where ceasefire negotiations are expected to resume. Tensions in the Middle East caused by Iran's missile attacks and the expected Israeli reaction are putting pressure on oil prices. Some analysts predict that possible strikes on Iran's oil infrastructure could lead to higher prices.

At the same time, expectations regarding China's stimulus policy have a restraining effect on the market. Despite hopes for an increase in oil demand, experts do not expect that Chinese measures will have a significant impact on prices.

Goldman Sachs confirmed its forecast for oil prices at $70-85 per barrel for Brent in 2025, citing that the impact of Chinese incentives will be modest compared to other factors such as the supply of oil from the Middle East.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

Oil has fallen in price after Israeli strikes on Iran

On Monday, oil prices fell by more than 5% after Israel's retaliatory actions against Iran did not affect key oil and nuclear facilities. Trading on the oil market began with a sharp decline, and Brent futures fell 5.5% to $71.05 per barrel. WTI contracts also fell by almost 5.8%, trading around $67.20.

Last week, oil prices showed significant volatility, increasing by 4%. The growth was driven by expectations of a wide range of Israeli responses to the Iranian missile attack on October 1.

On Saturday, the Israeli Air Force launched three waves of strikes against military installations near Tehran and in western Iran. However, the absence of strikes on oil and nuclear facilities has led to a decrease in geopolitical tensions and, as a result, to a decrease in the «risk premium» embedded in oil prices.

Analysts note that the market will now focus on negotiations on a cease-fire between Israel and the Hamas group. Some financial institutions, such as Citi, are already revising their oil price forecasts, lowering target levels due to reduced geopolitical risk.
More news on our website: https://bit.ly/4a81506

Re: ForexMart's Forex News

The United States will limit investments in Chinese technology

In an effort to protect its technological interests and contain China's military potential, President Biden's administration took a decisive step. On October 28, the U.S. Treasury Department unveiled new rules that significantly limit investments and technical assistance from American companies in the development of key sectors of the Chinese economy.

The focus turned to technologies that are important for future military, cybersecurity and intelligence operations: semiconductors and microelectronics, quantum computing and artificial intelligence.

The introduction of these rules, which take effect on January 2, is part of a broader U.S. strategy to limit China's access to technologies that can be used to pose a threat to national security.

The Biden administration stresses that the purpose of these measures is to prevent China from receiving «intangible benefits» from US financial support, including improving its reputation, market access and attracting highly qualified personnel.
More news on our website: https://bit.ly/4a81506

Posts: 601 to 625 of 632

Pages Previous 1 23 24 25 26 Next

You must login or register to post a reply

Forex Software → Forex Brokers → ForexMart's Forex News

Similar topics in this forum