Economic Calendar ↘ |
MarketNews
☀️ Happy Wednesday, dear traders! Today, July 17, we're bringing you the day's most thrilling news highlights:
Gold edged closer to an all-time high as expectations for Federal Reserve rate cuts grow, and traders bet on a second Trump presidency. XAUUSD rose to 2463.
The IEA has raised its forecast for global gas demand growth in 2024. World gas demand is expected to increase by 2.5% next year. XNGUSD trades at 2.197.
Global investment banks have downgraded China's GDP forecasts for 2024. Many experts doubt Beijing can achieve the 5% GDP growth target next year. HK50 has fallen to 17 723.
After the inflation report, markets are pricing in a 90% probability of a Bank of Canada rate cut in July, according to BBG. USDCAD rose to 1.3681.
⚙️ The Nasdaq 100 is not rushing to reach its all-time high, as Goldman reports strong tech stock sales by hedge funds. US100 has dropped to 20 268.
The Bank of Japan continues interventions at current yen levels, warning of further action against yen weakening. USDJPY falls to 157.93.
UK inflation remains at the Bank of England's 2% target for the second consecutive month, according to Bloomberg. GBPUSD rose to 1.2988.
Global fund managers now view "geopolitics" as the top market risk, with "inflation" falling to second place, according to BofA's July survey. The US Dollar dropped to 104.06.
That's it for today, guys! Click on Like if you liked our review, and see you soon!
