Daily Market Analysis By FXOpen

[FXOpen Trader]

Watch FXOpen's 24 - 28 June Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, EU Currencies, USD/JPY, AMZN Shares

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

• Nasdaq 100 Index Failed to Hold above 20,000 Points
• European Currencies Face a Crucial Test: What to Expect
• USD/JPY Rate Hits Highest Level since 1986
• AMZN Shares Set a New All-Time High

Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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[FXOpen Trader]

S&P 500 Analysis: Concerning Market Behaviour

On Friday, data was released showing that inflation in the US slowed down in May. According to ForexFactory, the actual monthly Core PCE Price Index was 0.1%, which matched the forecasts (last month’s PCE was 0.3%).

Reuters reports that:
→ Prices for recreational goods, as well as for vehicles, furniture, and durable household appliances, dropped significantly.
→ This news reinforced expectations that the Federal Reserve might begin to cut interest rates later this year. According to the CME FedWatch tool, market prices now indicate a 63% probability of a Fed rate cut in September, compared to a 55% probability a month ago.

Monetary policy easing should be perceived as bullish news for the market, however… While the S&P 500 index (US SPX 500 mini on FXOpen) initially rose in the hours following the publication, it dropped to the week's lows by the end of trading. This bearish market behaviour amidst positive news of slowing inflation is concerning.

Today, the price of the S&P 500 (US SPX 500 mini on FXOpen) shows that bulls are trying to recover from Friday's decline. They might be aiming to resume the upward trend that has been in place in 2024.

How successful could this be?

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

[FXOpen Trader]

EUR/USD Rate Rises After First Round of Voting in France

According to Reuters, exit polls show that Marine Le Pen's far-right party, the National Rally (RN), won the first round of parliamentary elections in France on Sunday.

The financial market reacted to this with a rise in the euro's exchange rate against other currencies.

Specifically, the EUR/USD rate jumped to its highest level since June 13.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.