Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 Fed Evans: Employment could hit debt relief later this year.

 - The trillion dollar infrastructure bill passed in the Senate.

 - US media: Opposition from some Democrats could hinder Powell's re-election as Fed Chairman.

 - Biden intends to nominate Frost, an official with the Federal Reserve Bank of New York, as Assistant Secretary of the Treasury.

 - The Fed's use of reverse repurchase instruments approaches $1 trillion.

 Iraq plans to increase oil production to 8 million barrels per day by the end of 2027.

 - India will eliminate the use of cryptocurrencies to fund illegal activities.

 2️⃣ Financial facts and data today

 - the annual rate of the US CPI will not be seasonally adjusted for July, the expected value is 5.3%, the previous value is 5.4%;  at the same time, the monthly rate of US CPI after the July Adjustment season will be published, the expected value is 0.5%, and the previous value is 0.9%.

 - EIA crude oil inventories in the United States for the week to August 6. The previous value was 3.627 million barrels.  Additionally, in 2021, the FOMC voting committee and Atlanta Fed President Bostic will speak on how the Fed can make the economy more inclusive.

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Check out the news happening in the last 24 hours

  1️⃣ Yesterday's main news

 - Fed Bostic: Or start reducing debt from October to December.

 - Democrats in the US Senate announce a $3.5 trillion budget plan.

 - The provisions of crypto tax under the US Infrastructure Act have not been agreed.

 - US Treasury Secretary Yellen seeks bipartisan cooperation to resolve debt ceiling issue.

 - New York Fed survey: US consumers' short-term inflation expectations maintain record highs.

 - For the first time, JOLTS US employment exceeded 10 million people, exceeding the number of unemployed people.

 - Japan may increase its economic stimulus plan

 2️⃣ Financial facts and data today

 - the August ZEW Economic Sentiment Index for Germany and the Eurozone will be published.

 - the July US NFIB Small Business Confidence Index will be released, with the expected value of 102 and the previous value of 102.5.

 - 2022, the FOMC voting committee and Federal Reserve chair Cleveland Meester will deliver speeches on inflation risks.

 - EIA will release its monthly short-term energy outlook report.

 - the next day, API crude oil inventories will be released for the week from the US to August 6.

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Key points in the Reserve Bank of Australia's interest rate decision

 [10:00 AM, 8/4/2021] +65 3165 7233:  ① Interest rate level: keeping the cash rate unchanged at 0.1% and maintaining the 3-year bond yield target of 0.1%;  The actual inflation rate will not increase until the real inflation rate remains within the target range of 2-3%.

 ② Monetary Policy: Committed to maintaining highly accommodative monetary conditions, continuing to buy government bonds at A$5 billion a week until early September, and then $4 billion  Australia a week, at least until mid-November

 ③ Interest rate hike expectations: Interest rate hike conditions will not be met before 2024

 ④ GDP Expectations: GDP will contract in Q9, with a slightly more than 4% growth in 2022 and around 2.5% growth in 2023.

 ⑤ Inflation expectations: inflation rate in 2022 will be 1.75%, in 2023 it will be 2.25%

 ⑥ Expected unemployment rate: Will fall to around 4.25% by the end of 2022 and around 4% by the end of 2023

[10:01 AM, 8/4/2021] +65 3165 7233: Market Analysis: With the release of the latest New Zealand jobs report -The data is very positive.  The market for bets on a Federal Reserve rate hike has increased.  The Reserve Bank of New Zealand is expected to raise interest rates to 1% before the end of the year.

 After the data was released the NZD was supported to increase.

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Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 - Fed Governor Waller: The Fed may announce a reduction in debt purchases before September.

 - The text of the bipartisan infrastructure agreement completed this week is expected to vote on the bill.

 - US Treasury Department cash balance drops to $459 billion.

 - US ISM manufacturing unexpectedly fell back in July, Markit manufacturing PMI hit a new high.

 - International Monetary Fund: USD valuation could be overvalued by 8.2%.

 - The size of euro governments and investment-grade corporate bonds hit record highs.

 - China Caixin manufacturing PMI fell to 50.3 in July, the lowest level since May 2020.

 2️⃣ Financial facts and data today

 - Reserve Bank of Australia announced the solution on interest rates

 - the monthly rate of PPI in the euro area for June will be announced

 - the monthly US factory order rate for June will be published

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Today Top Forex News By Money Life Research

 1️⃣ The main news last weekend

 - The annual rate of the core PCE price index in the US in June hit a new high.

 - Fed Brad: The QE reduction will begin this fall and end in March next year.

 - Fed Governor Brainard: Will assess conditions to slow down asset purchases.

 The Fed's reverse buyback demand exceeded $1 trillion for the first time in history.

 - The Russian Ministry of Energy asked the government to ban the export of gasoline which could last for at least three months.

 2️⃣ Notable events and data today

 - China July Caixin Manufacturing PMI will be released

 - The final value of the eurozone manufacturing PMI for July will be published

 - The final value of the Markit Manufacturing PMI in the United States will be published in July.

 - Reminder: The Toronto Stock Exchange in Canada is closed for one day.

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The main news last weekend

 US stocks hit a record high, gold fell sharply at 20 USD and once touched 1790.

 - Initial Value July US Markit Manufacturing PMI recorded the highest level since data recording.

 - The bipartisan US infrastructure bill agreement to be announced as early as Monday.

 - Yellen: The US will hit its legal debt ceiling on August 1.

 - Ransomware encryption payments have exceeded US$208 million or will set another record.

 - The G20 Environment Ministers Meeting failed to reach an agreement on the energy and climate targets proposed by Europe and the United States.

 - Russia-US strategic stability talks to be held in Geneva on July 28.

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Yesterday's main news

  - A bipartisan procedural vote on the infrastructure bill is scheduled for Wednesday and Biden supports it.

 US API crude inventories rose by 806,000 barrels last week, far exceeding expectations.

 - New crown-positive cases related to the Tokyo Olympics reached 67, not excluding the last-minute cancellation of the Games.

 - EU proposes banning anonymous cryptocurrency transactions.

 - The Biden team believes the chip supply will increase.

 - Japan's inflation has also exploded, with core CPI hitting a 15-month high.

 - The United States announced an extension of the "State of Public Health Emergency" for 90 days.

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Check out the news happening in the last 24 hours

  1️⃣ Yesterday's main news

 - New York Fed survey shows inflation expectations set new high.

 - Fed Williams: Has not met the criteria for reducing debt purchases.

 - The winning yield on the 10-year US Treasury bond hit a new low since February.

 - US Commerce Secretary Raymondo: is pushing the White House to relax travel restrictions on the US.

 EU plans to impose taxes on digital services have been shelved.

 - There are rumors that OPEC+ has not made progress in resolving the stalemate.

 Iran's Foreign Ministry: Iran's nuclear talks are close to reaching "results"

 2️⃣ Financial facts and data today

 - The Bank of England releases the financial stability report for July 2021.

 - IEA publishes monthly crude oil market report.

 - US June US off-season adjusted annual CPI / seasonally adjusted monthly rate CPI.

Check out the news that took place over the weekend

 - Federal Reserve Semi-Annual Report: If inflation expectations continue to be high, monetary policy may be changed.

 - G20 finance ministers and central bank governors reach historic agreement on international tax framework.

 - The European Central Bank's policy guidance will be revised on 22 July.

 Biden signs executive order to promote competition in various industries in the United States.

 - ECB Minutes: Will continue to maintain loose monetary policy.

 - Tokyo Olympic organizers will face an imbalance of revenue and expenditure.

 - Fed Daley: Tight monetary policy should be cautious.

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Dax Analysis By Money Life Research

 ℹ️ #DAX #ANALYSIS

The DAX comes out of the side in which it was immersed, but it is still inside a larger one.  Yesterday he held on to the lows of the month with the help of the USA when he was having a strong panic.  Now we will see if he continues to bounce or falls again to retest the lows for the month.

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Monthly Overview on Indices

 monthly change: SPX500 +3.21%

SPX500 repeated its record-high on June for five consecutive times. The index finished the month at 4,297.50 USD and gained more than 14% year-to-date. The index also posted twenty new week highs from the year's fifty-two total.

The U.S. Senate had accepted President Biden's infrastructure plan, so the equities of the material and industrial sectors pushed up higher, followed by other stocks. Meanwhile, the investors' optimism about the index performance in the following quarters eased, as they realised that the excessive bullish trend could signal the market of its overbought status.

Bank of America did its calculations, stating that Biden's spending plan took the label of global fiscal and monetary stimulus over the last fifteen months to 30,5 trillion USD. This change means the U.S. inflation is now annualising 8%, compared to an average of 3% over the previous century.

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Monthly Overview on Currencies

 Monthly change: EURUSD -2.94%, GBPUSD -2.78%, USDJPY +2.18%, USDCAD +3.72%, AUDUSD -3.94%

DXY ended June at 92.427. This month, the index gained about 3% after the unexpectedly hawkish shift from the Fed at its meeting. The unconventional part is that the ten-year benchmark U.S.Treasury bonds are still yielding 1.48% despite all events. This month was meant to be eventful for the major central banks to declare their monetary policy intentions. None of them, except for the Fed, did it. That's why June 2021 will be remembered as the 'swinging' month for the financial markets. Taking a monthly trading review in EURUSD, the currency pair was downbeat by the Fed's hawkish tone of voice and the absence of any clear steps towards stimuli from ECB. The currency pair ended the month near 1.184, the level of early April this year.

The Bank of England left its policy settings unchanged, as was anticipated. The GBPUSD pair came under intense bearish pressure after that, and the regulator remained speechless towards Fed's statement. The pair lost almost 3% during the month, closing at 1.383.

The Bank of Canada left its key rate unchanged. The oil-oriented currency pair was among the few majors, finishing the month with a positive gain. The USDCAD pair closed in June near 1.24, adding 3% a month.

The Reserve Bank of Australia (RBA) is expected to hike rates next November, well ahead of the 2024 timeline. The AUDUSD pair fell by almost 3% after that to 0.7470 and finished the month at that level ten days later. The Bank of Japan left its policy measures unchanged, as was expected. The USDJPY pair went higher on renewed greenback strength and the Japanese yen pressure and climbed above 111.

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Check out the news happening in the last 24 hours

  1️⃣ Yesterday's main news

 - Last week, the number of first-time applicants in the United States continued to be at its lowest level since the week of March 14 last year.

 The US House of Representatives passed a $715 billion infrastructure bill.

 - Fed Hack: Support to reduce debt by the end of this year.

 - European Central Bank President Lagarde: Restrictions on bank dividends could be lifted by the end of September.

 - OECD announces 130 countries/regions in favor of "two-pillar" reform.

 - UAE prevents OPEC from reaching an agreement to increase production.

 - US Congressional Budget Office: The estimated US fiscal deficit is $1.153 trillion in fiscal year 2022.

 2️⃣ Notable economic events and data today

 - The US will release the unemployment rate for June and nonfarm employment population data after seasonal adjustment for the US in June.  Investors pay close attention to this data.

 - European Central Bank President Lagarde will deliver a speech.

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Notable events and data today

   The European Parliament's Economic and Monetary Committee will hold a hearing, the President of the European Central Bank Lagarde will attend and deliver a speech.

 Governor of the Bank of England Bailey will give a speech.

 The 181st OPEC meeting will be held; OPEC ministerial supervisory committee meeting and non-OPEC oil producing countries;  The 18th OPEC and non-OPEC oil-producing countries ministerial meeting will take place At that time, you can pay attention to the price movement of the two oils.

 The US will release the initial number of jobless claims through June 26. The previous value was 411,000 and the expected value was 393,000.  The performance of the data can affect the volatility of the US dollar.

 The next day, Bostic, the 2021 FOMC voting committee and the president of the Atlanta Fed, will speak. 

Governor of the Bank of England Bailey will give a speech.

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Check out the news happening in the last 24 hours

 

 1️⃣ Yesterday's main news

 Biden plans to sign two bills on infrastructure spending.

 - Outline of $1.5 trillion annual spending bill for fiscal year 2022 released.

 - Fed Quarles and Barking talk about inflation risks and digital currencies.

 US forces carry out airstrikes on the border between Iraq and Syria.

 - Oil supply gap in August could be as much as 1.7 million bpd.

 - ECB officials: ECB is unlikely to raise interest rates.

 - It is said that the launch date of iPhone 13 should be earlier than iPhone 12.

 2️⃣ Notable economic events and data today

 - the FOMC voting committee and Fed Chairman Richmond Barkin will deliver speeches on the US economic outlook and monetary policy.

 - European Central Bank President Lagarde will give a speech at the Brussels Economic Forum.

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Check out the news happening in the last 24 hours

 1️⃣ Yesterday's main news

 Biden said it had reached an infrastructure deal with senators from both sides.

 - The Fed will remove restrictions on bank stock buybacks and dividends.

 - US negotiators said they could resume talks on the Iran nuclear deal as soon as next week.

 The number of initial jobless claims in the United States fell last week.

 - The SEC is introducing requirements for the cryptocurrency trading business.

 - The Bank of England's hawkish signals fell short of expectations and the pound fell.

 India's Oil Minister urged OPEC to cut production as soon as possible.

 - Microsoft introduces the new Windows 11 system.

 - The reverse repurchase activity exceeded 10 billion for the first time in 3 months.

 2️⃣ Notable economic events and data today

 - The US will release core PCE data for May, which is the inflation indicator that the Fed is most interested in.

 - Tonight, the FOMC Standing Voting Committee and New York Federal Reserve Chairman Williams will deliver speeches.

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Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 - Yellen said the US could hit the debt ceiling in August.

 - Fed officials Bostic, Kaplan said they will raise rates next year.

 - The Fed's first use of a fixed-rate reverse repo exceeds $800 billion.

 - US Democrats set a target in 24 hours to reach an infrastructure agreement between the parties.

 - The US Markit Manufacturing PMI in June hit a record high.

 - Meibu Oil once set a new 3-year high and inventories in last week's EIA fell sharply.

 - OPEC+ is said to be considering an output increase announcement at next week's meeting.

 The Iran nuclear deal is said to be nearing completion.

 - Mutant strains "Delta+" have been detected in India and a third wave of epidemics will occur in the future.

 - The Bank of England decision will be announced and Haldane, a hawkish official, will make one last appearance.

 2️⃣ Notable economic events and data today

 - The Bank of England will publish interest rate resolutions, policy statements and meeting minutes This meeting will be the last meeting of Haldane, the chief economist of the hawks.  Investors will be watching for signs of central bank tightening.

 - The United States will publish the first number of jobless claims for the week until June 19. At the same time, it will publish the final value of the first quarter annualized real GDP rate.  first quarter and core PCE of the first quarter.  annual price index quarterly rate final value.  Data-related performance can affect the volatility of the US dollar.

 - Tonight, the FOMC 2021 voting committee, Fed President Atlanta Bostic, Fed President Philadelphia Hack and New York Fed President Williams will deliver speeches.

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Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 - Several senior Fed officials talked about the US economy and debt relief.

 Biden believes Congress will raise the debt ceiling.

 - The President of the European Central Bank said there is still room to cut interest rates.

 - Bank of Japan buys ETF for the first time in two months.

 Iran says "next round of nuclear talks could be last".

 - Microstrategy buys 13005 bitcoins.

 2️⃣ Notable economic events and data today

 - The FOMC voting committee and the San Francisco Fed president will speak at the Peterson Institute for International Economics videoconference.

 - Tomorrow, Fed Chair Powell will address Congress on COVID-19 response measures and the economic outlook.  Pay attention to relevant statements.

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KlSE market morning bell

 Morning Bell : : The FBM KLCI fell by 0.32% in early morning trade, bucking regional gains.

At 9.06am, the benchmark index had fallen 4.99 points to 1,570.68 points, weighed down by concerns over the widened movement control order (MCO).

Dataprep Holdings Bhd was the top gainer so far, up 14 sen to RM2.09, with 6.88 million shares traded.

Meanwhile, the top loser was Transocean Holdings Bhd, shedding 35 sen to RM6.30 amid a trading volume of 53,700 shares.

The most active stock on the local bourse so far was Tanco Holdings Bhd, which had risen one sen to RM1, with 37.15 million shares changing hands.

“Following the recent lacklustre performance and the announcement of the MCO, the KLCI could remain pressured and retest the support of 1,560 points,” said JF Apex in a note this morning.

“Shares opened higher in Australia and Japan, where trading resumed after holidays. Futures pointed higher in Hong Kong and US contracts were little changed after the tech-heavy Nasdaq 100 ended in the red, while the S&P 500 notched a small gain. Boston Federal Reserve (Fed) president Eric Rosengren suggested that the US mortgage market no longer needs as much support, advancing the debate on when the central bank might start tapering its monthly bond purchases.

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Check out the news of the past 24 hours

 1️⃣ Yesterday's main news

 - Yellen's speech caused a huge volatility of gold.

 - International oil prices rose to the highest level in 1.5 months.

 - Fed officials: slightly higher interest rates could be a good thing.

 - The United States introduces new immunization targets.

 - US trade deficit continued to set a record in March.

 The Reserve Bank of Australia kept interest rates unchanged, revealing the big decision in July.

 - Small non-farm data released tonight.

 2️⃣ Facts and important data today

 - Focus on US economic data today:

 - Today the US will announce the number of ADP jobs for April. The expected value is 810,000, much higher than the previous value of 517,000.  The market generally expects that job data will be good.

 - Today US Markit services PMI data will be released in April.  The US ISM production data released on Monday did not meet expectations, which has caused shocks in the gold market.

 - Today and tomorrow morning, the 2021 FOMC Voting Committee and Chicago Fed President Evans will deliver a speech on the current economic situation and monetary policy.  You may pay attention to his statement.

 - On the oil market, EIA crude oil inventory data for the week from the US to April 30 will be released today. Earlier this morning, API data fell more than expected, and oil prices  increase in the short term.  time.

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