Stay informed with CA Markets’ daily market update, providing the latest trends and insights in Forex and CFD trading. Our comprehensive analysis and expert advice are designed to keep you informed and ahead in CFD trading. Whether you’re navigating currency pairs or exploring diverse asset classes, our updates offer valuable perspectives to optimize your trading strategies. Trust CA Markets to deliver timely market analysis that empowers your decisions and enhances your trading experience.
Market Recap
In a subdued session, financial markets remained largely unchanged. Wall Street closed with minimal movement, reflecting the calm market environment. U.S. 10-year Treasury yields edged slightly higher, while crude oil saw a 2% decline, settling at $75.85 per barrel. The forex market saw limited action, with AUD/USD trading within a narrow range of 0.67615 to 0.67955 before closing at 0.6790/93 as the Asian session began. The U.S. dollar held steady with the DXY index at 100.80, maintaining its range-bound trading behavior against major currencies.
Key movements included GBP/USD and EUR/USD, which both drifted lower to 1.3220 and 1.1150, respectively. USD/JPY experienced a decline, falling below 144.50. The release of U.S. housing data provided mixed results, with the FHFA House Price Index for June slightly disappointing, while the Case Shiller House Prices exceeded expectations. However, the data had little impact on market sentiment.
Day Ahead
Looking forward, the Australian market will focus on the monthly CPI indicator for July, which is expected to provide insights into goods prices. However, given that it’s the first month of the quarter, the data is expected to offer limited information on services prices, which will be more informative in the following month. AUD/USD is anticipated to remain within its recent range, with resistance likely to emerge around 0.6870 and support expected in the 0.6700/20 region.
Economic Data to Watch:
- Japan: BOJ Outright Bond Purchases 5~10 Years
- Australia: July CPI y/y
- Eurozone: July Money Supply y/y
- United States: August 23 MBA Mortgage Applications
- United Kingdom: BOE’s Mann Speaks in Frankfurt
- United States: Feds Bostic Speaks on Economic Outlook
Disclaimer:
The information provided in this daily market update is for informational purposes only and should not be considered as financial advice. Trading Forex and CFDs involves significant risk of loss and may not be suitable for all investors. Past performance is not indicative of future results. CA Markets does not guarantee the accuracy or completeness of the information provided, and we recommend consulting with a qualified financial advisor before making any trading decisions. Users are solely responsible for their own trading activities and decisions.
