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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Monthly Overview on Indices

 Monthly change: SPX500 +5%

After reaching the new historical level of 3,960, the SPX500 index has started to decline. Stocks have fallen sharply, and the decline should not come as a surprise to anyone. Valuations in many equities have been at historically high levels.

The index's rally has been driven by the idea that low-interest rates could expand PE multiples. However, yield rates have risen sharply in recent weeks. These higher rates are making the stock market more expensive when compared to bond yields. If stocks need to reprice, it could result in a rather steep equity market sell-off, perhaps more than 20%.

It seems as if technology stocks prices have burned out over the past 12 months and maybe hit the hardest in a repricing environment triggered by rising yield rates. A market drawdown would undoubtedly be welcome after the euphoric run it has had over the last year. The rising-rate environment and overvalued stock market seem to have all come together, creating a perfect situation for this.

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GBPUSD Overview

GBPUSD overview, this pair will continue down in the first half of March.  If you want to buy in, you should wait for the price to go down to the lower green demand zone, then you should buy in in the long term, so the current should not buy and the point to start buying will be the starting price.  head from 1.3770 or less.

Indices Trading Signals

Gold technical analysis overview for March 2021 with team Money Life Research

 Gold technical analysis overview for March 2021 with team MoneyLife 💷 Research 📈

On the monthly chart, after ending February with a strong bearish candle, it shows that the selling pressure is still dominating with the information coming from the USD strongly increasing in the context of US bond yields.  go to high place.  The US economic outlook is brightly assessed.  In general, fundamental and technical analysis is in favor of the next decline in gold, here I have drawn a long-term downside target for gold to be 1500-1600.  On the H4 chart it can be seen that the price at the beginning of the week is recovering and I have drawn fibo to determine where the recovery span can be reached, here in my opinion, the price can recover to the 38.2-50 fibo zone.  is resistance in the past.  To be safe, we can wait for the price to rise to this zone and close the candle to give a bearish signal, then entering the order will be low risk.  The specific signal I will update with proper levels.

Gold Trading Tips

EURO, EUR/USD, US DOLLAR, INFLATION, TREASURY YIELDS

ASIA-PACIFIC RECAP

Risk assets continued to slide lower during the Asia-Pacific trade as an aggressive rise in global bond yields notably weighed on market sentiment. Australia’s ASX 200 plunged 2.35% as yields on local 10-year government bonds surged to the highest levels since April 2019, while Japan’s Nikkei 225 plummeted 3.6%. Hong Kong’s Hang Seng Index dropped over 3% and China’s CSI 300 fell 1.87%.

In FX markets, the haven-associated USD, JPY, and CHF largely outperformed, while the cyclically-sensitive AUD, NZD, and NOK slid lower. Gold and silver prices lost ground as yields on US 10-year Treasuries held above 1.47%. Looking ahead, US PCE figures for January and consumer sentiment for February headline the economic docket alongside trade balance data out of Mexico.

SURGING REAL YIELDS BUOYING US DOLLAR

Surging bond yields have buoyed the heavily under-fire US Dollar in recent days, and may open the door for the Greenback to claw back lost ground against the Euro in the near term. Yields on benchmark 10-year Treasuries surged to the highest level since early February of 2020, climbing over 14 basis points in 24 hours as investors continue to bet on the Federal Reserve adjusting its policy levers sooner-than-expected.

However, this seems relatively unlikely given the dovish rhetoric of several members of the Federal Reserve over the last few weeks. Atlanta Fed President Raphael Bostic – one of the first to suggest tapering measures at the end of 2021 – is not expecting to Federal Reserve to react prematurely to climbing yields, stating that they “have definitely moved at the longer end, but right now I am not worried about that”.

This reinforces the comments from Jerome Powell at the Fed’s semi-annual monetary policy testimony before Congress, with Powell reiterating that “the economy is a long way from our employment and inflation goals, and therefore the central bank will maintain its loose approach to monetary policy until “substantial further progress has been made” towards achieving its two mandated goals.

Nevertheless, breakeven inflation rates have stormed to multiyear highs, with the 10-year currently sitting at 2.1% and the 5-year at 2.35%. Real yields have also soared to 9-month highs, while expectations of the Federal Reserve’s first rate hike have been pulled forward from early-2024 to early-2023.

These dynamics could open the door for a short-term US Dollar recovery, with attention now intently focused on upcoming PCE figures for the month of January. A larger-than-expected increase in core PCE prices probably intensifying tapering bets and pushing the Greenback higher against its major counterparts.

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KLCI rises 0.77% as select blue chips

KLCI rises 0.77% as select blue chips led by Tenaga lift The main index at Bursa Malaysia rose 0.77% in early trade Wednesday as select index-linked stocks including Tenaga Nasional Bhd advanced, against the backdrop of mixed regional markets.

At 9.05am, the FBM KLCI rose 12.14 points to 1,577.19.

The early gainers included Nestle (M) Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Kuala Lumpur Kepong Bhd, Frontken Corp Bhd, Aeon Credit Service (M) Bhd, Latitude Tree Holdings Bhd, Tasco Bhd and Tenaga Nasional Bhd.

 

Bloomberg said U.S. equity futures fluctuated and Asian stocks looked set to slip as investors mulled comments from Federal Reserve Chairman Jerome Powell on inflation and growth that spurred swings in stocks and bonds Tuesday.

 

JF Apex Research said US markets ended mixed with the Dow reversing intraday steep losses after the Federal Reserve chairman eased concerns about inflation and rising rates.

 

It said that earlier, European stocks declined following losses in technology counters and rising bond yields.

 

“On the local market, the FBM KLCI lost 5.41 points or 0.34% to 1565.05 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain pressured and test the immediate support of 1560 points.

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Today Dax Analysis by Money Life Research

ℹ️ #DAX #ANALYSIS

The DAX is having a strong drop at the opening but it has also just bounced quite quickly in the important support of the 13820 area. It is clear that the loss of this support would lead to continuity in the falls.  While at the top until the maximum on Friday is not exceeded there would not be a new attack on maximums.  As for data, today there is the German IFO and a speech by the president of the ECB.

Indices Trading Signals