INTRODUCTION:
Everyone can make money from the financial market but not everyone is consistent. consistency is what differentiates a professional from an amateur. For anyone to be consistent, must have a proven strategy backed up with proper risk management and trading psychology.
FUNDAMENTAL ANALYSIS:
The US dollar strengthens as positive NFP numbers could postpone rate cuts. The USD keeps gaining ground,
increasing by more than 0.70% on Friday. US Nonfarm Payrolls in May above forecasts, indicating a strong labor
market rebound. September rates are expected to drop as many favorable economic indicators emerge. The expectation of a September reduction in interest rates was tempered by the US economy’s May job creation, which exceeded expectations. The higher US jobs report reduced expectations of a Fed rate drop, which hurt the value of the greenback. While the US dollar rises on an anticipated delay in Fed cutbacks, the Australian dollar remains stable. Although strong US labor figures would support a hawkish approach from the Fed, the Australian dollar is still weak.
The hawkish atmosphere surrounding the RBA may limit the downside for the Australian dollar. Because US
Treasury yields have increased, the US Dollar (USD) has continued to rise. The US dollar rises, and XAU/USD stays below $2,300 as China stops purchasing gold. The early Asian session on Friday sees the price of gold remaining cautious around $2,295 per ounce. After eighteen months of purchases, the Chinese central bank put a halt to gold purchases in May. WTI rises to about $75.50 as a result of Fed rate-cutting predictions. WTI prices rise as a result of Fed rate drop rumors for September. Crude oil prices could fall as the Fed adopts a more hawkish attitude in response to a positive US jobs report. Since OPEC+ chose to progressively reverse the voluntary cuts, concerns about a supply surplus have increased.
ECONOMIC CALENDAR( GMT+1):
EURUSD ANALYSIS:
GBPUSD ANALYSIS:
GBPJPY ANALYSIS:
XAUUSD ANALYSIS:
WTI ANALYSIS:
CONCLUSION:
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