Daily Market Analysis 05-08-2024

Finance and economics explained simply
Daily Market Analysis    05-08-2024

Market Overview

Oil-dollar pair crashed 3.4%, oversold. Aussie, euro, and dollar-yen pairs traded sideways with positive signals. Oil prices tumbled on weak US jobs data and China woes. Intel’s stock plunged 26%. Recession fears grip Wall Street, Fed rate cut expectations rise. Today’s economic highlights include Eurozone PPI, US ISM Services, UK retail sales, and Japan data.

Economic Calendar (GMT+1)

EURUSD Analysis

Chart Analysis

GBPUSD Analysis

Chart Analysis

GBPJPY Analysis

Chart Analysis

XAUUSD Analysis

Chart Analysis

WTI Analysis

Conclusion

Our forex market report offers an overview of critical economic and financial events that impact the global forex markets. Traders should closely monitor developments to fine-tune their trading strategies accordingly. Join us for more at: https://my.dbinvesting.com/links/go/955

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