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
Wall Street experienced a soft start to the week, with the Nasdaq closing down by 0.9% and the S&P 500 by 0.3%. U.S. 10-year yields inched higher, while rising tensions in the Middle East propelled crude oil prices up by 3.1%, reaching $77.10 per barrel. The Forex market saw the USD maintaining its strength, with the EUR/USD dropping to 1.1150 and the GBP/USD to 1.3181. USD/JPY climbed above 144.00, touching a high of 144.65 as the market absorbed the latest economic data.
Day Ahead
Looking ahead, the U.S. Conference Board Consumer Confidence index will be released today, providing crucial insights into consumer sentiment in the United States. This data is expected to reflect a slight decrease in optimism after a previous rise in June. For CFD traders, this could mean volatility in the USD, particularly in pairs like AUD/USD and EUR/USD. The AUD/USD started the week trading within a narrow range, with sellers likely to emerge around the 0.6870 mark, while demand is anticipated in the 0.6700/20 region.
Economic Data to Watch
- CN: July Industrial Profits y/y
- EU: ECB’s Knot and Nagel Speeches
- US: June FHFA House Price Index m/m
- US: August Conference Board Consumer Confidence
- US: August Richmond Fed Manufacturing Index
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.
