Daily Market Analysis 14-06-2024

Finance and economics explained simply
Daily Market Analysis        14-06-2024


Can you stop yourself from yourself! Ability to curtail your emotions when trading is an intricate aspect you need to master if you want to be successful in trading. Most times losses are not because of strategy but your emotion got in your way.

Fundamental Analysis:

US Dollar maintains its strength on new PPI figures and jobless claims. DXY trades above 105.00 after continuing its rally after the Federal Reserve’s announcement. US reports higher weekly Initial Jobless Claims and soft PPI data from May. The yield on US Treasury bonds is still down and might go lower. Because of the higher US dollar and the unrest in French politics, the EUR/USD remains stable below 1.0750. Due to the stronger US dollar during Friday’s early Asian session, EUR/USD is trading flat at 1.0735. The Euro is weakened by the ECB’s rate reduction as well as the political unpredictability in Europe. The US Federal Reserve hinted that it will only lower its benchmark rate by 25 basis points this year. The Japanese Yen declines while the BoJ maintains its interest rate. The BoJ kept interest rates at 0% on Friday, which causes the Japanese yen to weaken. The BoJ may cut its bond holdings to a range of ¥4.8 trillion to ¥7 trillion, according to a Nikkei article. Despite Thursday’s delivery of weaker-than-expected economic figures, the US dollar has remained stable. Despite a weak US PPI, the Fed’s contemplating one cut causes the price of gold to plummet. Gold hits a daily high of $2,326 and then declines toward $2,300. Only one rate cut is anticipated by the Fed in 2024, which will hurt the price of XAU/USD. The 10-year Treasury yield falls to 4.242% as lower producer prices and more unemployment claims strengthen the US dollar.

Economic Calendar (GMT+1):

Analysis of EURUSD:

Analysis of GBPUSD:

Analysis of GBPJPY:

Analysis of XAUUSD:

Analysis of WTI:


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