European data is weaker again
Gold dipped below $1,900
Markets await Fed’s meeting
The dollar hit a five-year high yesterday as market participants await the Federal Reserve next week which is expected to hike rates. Meanwhile, the euro weakened on growth concerns after Russia cut off gas supplies to parts of the region.
The Fed is expected to increase rates by 50 basis points at its May 3-4 meeting and in June and July. Additionally, the greenback has also benefited from global growth concerns as Europe struggles with the fallout from Russia’s invasion of Ukraine and China enacts lockdowns in a bid to stem the spread of COVID-19.
The euro fell 0.83% to $1.0549 reaching its weakest since March 2017. The common currency has fallen 4.7% so far in April and is set for its worst monthly loss in more than seven years.
Furthermore, on Wednesday, Germany’s economy ministry cut its economic growth forecast for 2022 to 2.2% from its late January prediction of 3.6% growth this year. Also, French consumer confidence fell more than expected in April.
The stronger dollar also blunted an attempted bounce for the yen, which had seen some support from safety flows and positioning for the risk of a policy shift.
The yen last traded at 128.09 per dollar, after hitting a 20-year low of 129.4 last week. Investors anticipate if the Bank of Japan will make any changes to its yield curve control policy to stem yen weakness when it concludes its two-day meeting on Thursday.
The Australian dollar touched its lowest level since February but caught some wind after Australian consumer prices surged at their fastest annual pace in two decades, spurring speculation that interest rates could be lifted from record lows as soon as next week. The Aussie was up 0.08% at $0.7131.
U.S. stocks rebounded on Wednesday as a strong earnings report from Microsoft late Tuesday helped stop the rout in technology stocks.
The Dow Jones Industrial Average rose 0.6%, while the S&P 500 was up 0.7% and the NASDAQ Composite was up 0.7%.
Tech stocks tumbled 4% on Tuesday as fears of a global economic slowdown gripped the market, dragging the Nasdaq to its lowest level since 2020.
Asia Pacific stocks were mostly up during the early trades as China pledged further economic support. Hong Kong’s Hang Seng Index gained 0.51% while China’s Shanghai Composite was up 0.49%.
Chinese stocks traded in the U.S. also rose to their highest level since early April 2022, after China’s State Council pledged at its latest meeting to stabilize employment.
Japan’s Nikkei 225 gained 0.62% with industrial production increasing 0.3% month-on-month and retail sales rising 0.9% year-on-year in March 2022. The S&P/ASX 200 rose 0.92%, as Australia released retail sales figures earlier in the day.
Gold futures gained 0.56% to $1,878.10 after hitting their lowest price in two months. Gold has been holding very well above $1,900 but falls under pressure from the expectations of the U.S. Federal Reserve to raise interest rates by 50 basis points in the following week.
According to the World Gold Council, Global demand for gold surged in the first quarter of 2022 to the highest in over three years, driven by investors worried about the war in Ukraine and inflationary pressures.
Similarly, silver inched down 0.1% and platinum eased 0.4% to $914.17, while palladium jumped 1.2%.
Oil prices rose for the second day in a row on Wednesday after data showed weekly consumption of fuels in the United States offset builds in crude.
A soaring dollar capped the market’s gains. China’s grappling with new coronavirus cases also clouded the economic outlook for the world’s biggest importer of crude oil. Brent crude settled up 0.3%, at $105.32 a barrel.
Meanwhile, West Texas Intermediate (WTI) settled up 0.3% at $102.02 per barrel and WTI rose 3.2% on Tuesday, after a 2% slide in the previous session took the U.S. crude benchmark to a two-week low of $95.28.
尊敬的客户: 您好,我司期货产品十一月份的展期将至,因新旧期货合约之间存在价格差异,为规避潜在的交易风险,建议客户妥善控制仓位。 期货合约的展期时间如下: 产品代号 产品名称 展期日 FRA40ft France 40 Index Future法国CAC40指数(期货) 2024-11-14 CL-OIL Crude Oil…
尊敬的客户: 您好,受即将到来11月份假期影响,STARTRADER的交易时间将有所调整。 请参考下表了解涉及调整的产品情况: 日期 2024年11月4日 2024年11月11日 2024年11月15日 2024年11月20日 假期 万圣节 卡塔赫纳独立日 共和国日 黑人意识日 BVSPX巴西股指(圣保罗指数) 正常…
尊敬的客户: 请注意,由于2024年11月3日实施的美国夏令时变化,以下产品的交易时间将会调整。 产品代号 交易时间 (GMT+2) Cocoa美国可可豆现货 星期一~星期四: 11:45-20:30星期五: 11:45-20:27 Coffee阿拉比卡咖啡豆现货 星期一~星期四: 11:15-20:30星期五: 11:15-20:27 Sugar11号精糖现货 星期一~星期四:…
尊敬的客户: 您好,受即将到来11月份假期影响,STARTRADER的交易时间将有所调整。 请参考下表了解涉及调整的产品情况: 日期 2024年11月1日 假期 万圣节 USDCLP美元兑智利披索 闭市 USDINR美元兑印度卢比 闭市 *所有日期均为GMT+3(MT4/MT5服务器时间) 请注意:在市场流动性下降情况下,点差可能会较正常平均水平显著扩大,我们建议客户在交易时要妥善管理仓位、确保账户资金充足,并且进行谨慎交易。 如果您有任何疑问或需要任何帮助,请随时发送电子邮件至 info@startrader.com 或透过线上聊天 https://www.startrader.com/ 联系我们。 感谢您的支持!STARTRADER团队
尊敬的客户: 您好,我司期货产品十月份的展期将至,因新旧期货合约之间存在价格差异,为规避潜在的交易风险,建议客户妥善控制仓位。 期货合约的展期时间如下: 产品代号 产品名称 展期日 VIX Volatility恐慌指数期货 2024-10-11 FRA40ft France 40 Index Future法国CAC40指数(期货) 2024-10-16…
尊敬的用户: 我们很高兴地宣布,STARTRADER 将于2024年10月28日推出十六款新产品,旨在为我们的客户提供更加多样化的投资组合。这些新产品将仅在我们的 MT5 服务器上提供。 请参阅下表了解新产品的详细信息: 产品代码 说明 类型 合约规模 最小手数 最大手数 3日库存费 交易时间(GMT+3) VFS…