EUR/USD 1.17747
0.156%
Gold 3334.89
0.269%
Oil 65.635
-1.022%
USD/JPY 144.562
-0.237%
GBP/USD 1.36511
-0.031%
GBP/JPY 197.337
-0.256%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 6, the Russian Ministry of Defense reported on the 6th that in the past night, the Russian air defense system shot down and intercepted 120 Ukrainian drones, including 30 in Bryansk Oblast, 29 in Kursk Oblast, 18 in Oryol Oblast, and 17 in Belgorod Oblast. The Ukrainian Air Force reported on the 6th that since 20:30 local time on the 5th, the Russian army has launched 4 S-300 air defense missiles and 157 drones at Ukraine. As of 8:30 a.m. local time today (6th), the Ukrainian army has shot down a total of 117 drones through firepower and electronic warfare suppression.On July 6, Hong Kong SAR Government Financial Secretary Paul Chan said on the 6th that Hong Kong stocks rose by 18% last year, and the momentum will continue to improve in 2025. The number of applications for IPOs in Hong Kong is increasing rapidly. The amount of funds raised in the first half of the year exceeded HK$107 billion, an increase of about 22% over the whole of last year, temporarily ranking first in the world. Paul Chan said that in the past period of Hong Kong stocks rise, funds mainly chased technology stocks, driving a significant increase in the trading of derivatives related to technology stocks. "Exchange Traded Products" (ETPs) linked to different types of assets have become a new force in supporting the liquidity of Hong Kong stocks in recent years, effectively playing the role of liquidity buffer when the market fluctuates.July 6, Lloyds Bank of the United Kingdom believes that the minutes of the Federal Reserves June meeting to be released next Wednesday are not expected to change the markets expectation that interest rates will remain unchanged at the July meeting, and interest rate adjustments are more likely to take place in September. The Feds dot plot is still expected to have two rate cuts this year, but there are clear differences among policymakers, ranging from three rate cuts to unchanged.According to TASS: Russian troops have taken control of Sobolivka in the Kharkiv region of Ukraine and Piddubne in the Donetsk region.According to Nikkei News: Nissan Motor is considering having Foxconn produce electric vehicles at its Oppama plant in Okinawa, Japan.

In ahead of US NFP and Eurozone Inflation data, EUR/USD seeks a range break near 1.0600

Alina Haynes

Jan 05, 2023 15:11

 EUR:USD.png

 

During the Asian session, the EUR/USD pair attempted to break out of the consolidation range it formed above the round-level support of 1.0600. Given the risk-on market mentality, it is expected that the major currency pair will continue its upward trend.

 

In Asia, S&P500 futures are indicating a modest retracement, but the overall risk profile remains sturdy following Wednesday's strong advances. The US Dollar Index (DXY) is languishing below 104.00 and is likely to continue on edge as further reduction of inflation expectations in the United States is expected to keep safe-haven assets under pressure in the short term.

 

According to the Federal Open Market Committee (FOMC) minutes, all Federal Reserve (Fed) policymakers favored a more gradual rate of policy tightening. For Fed members to abandon their hawkish view on monetary policy, greater evidence of inflation moderation is required.

 

According to Reuters, the president of the Minneapolis Fed, Neel Kashkari, emphasized on Wednesday that the Fed must avoid hastily lowering the policy rate and reigniting inflation. In order to attain the inflation target of 2%, he suggested that the interest rate should peak at approximately 5.4% and then remain stable.

 

This week, investors will closely monitor the second catalyst considered by the Federal Reserve when crafting monetary policy. Friday's Nonfarm Payrolls (NFP) are projected to be 200K, a decrease from the previous report's 263K. In addition, investors will pay attention to the Average Hourly Earnings (Dec) data, which is expected to be 5% lower. Given that consumers will continue to have more discretionary spending, a rise in wage expenses may cause the Consumer Price Index to grow (CPI).

 

Investors anticipate the release of the Eurozone's Harmonized Index of Consumer Prices (HICP) on Friday. According to the consensus, the headline HICP is projected to decrease from 10.1% to 9.7%. Consensus has diminished as a result of falling energy prices and the government's one-time reimbursement of family energy expenses. Certainly, the European Central Bank (ECB) will be fascinated by this in the future.

Suggestion