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Market News The Fed's September rate cut is almost a done deal, gold surges past the 3350 mark!
Markets News
The Fed's September rate cut is almost a done deal, gold surges past the 3350 mark!
TOPONE Markets Analyst2025-07-03 08:08:52
Hot spot tracking
- US June Employment Data: ADP employment decreased by 33,000 in June, the largest drop since March 2023. This news is negative for the US dollar and US stocks.
- In June, the number of layoffs at Challenger companies recorded 47,999, the lowest since December 2024. This news is negative for the US dollar.
- Trump announced a trade agreement with Vietnam, which will fully open its market to the United States. Vietnam will pay a 20% tariff on any goods entering U.S. territory, with a 40% tariff levied on transshipped goods. This news is bullish for the dollar.
Product Hot Comment
ForexProduct Yesterday's Change Yesterday's Close Today's Open EUR/USD ▼-0.05% 1.17982 1.1797 GBP/USD ▼-0.80% 1.36351 1.36529 AUD/USD ▲0.08% 0.65829 0.65825 USD/JPY ▲0.18% 143.647 143.624 GBP/CAD ▼-1.19% 1.85263 1.85397 NZD/CAD ▼-0.54% 0.82727 0.82685 📝 Review:On Wednesday, the U.S. dollar index rebounded slightly, briefly climbing back above the 97 mark during the session, but later gave back some of its gains, ultimately closing up 0.13% at 96.77. The benchmark 10-year U.S. Treasury yield closed at 4.284%, while the 2-year U.S. Treasury yield closed at 3.797%.🕵️ Operation suggestion:USD/JPY 143.498 Sell Target Price 142.685
GoldProduct Yesterday's Change Yesterday's Close Today's Open Gold ▲0.54% 3356.96 3358.38 Silver ▲1.48% 36.537 36.54 📝 Review:Weaker-than-expected "small non-farm payrolls" sparked hopes that the Fed would cut interest rates sooner. Spot gold broke through the $3,350 mark during the U.S. trading session, eventually closing up 0.55% at $3,357.15 per ounce; spot silver closed up 1.46% at $36.54 per ounce.🕵️ Operation suggestion:Gold 3349.77 Buy Target Price 3399.40
Crude OilProduct Yesterday's Change Yesterday's Close Today's Open WTI Crude Oil ▲2.83% 66.719 66.707 Brent Crude Oil ▲2.72% 68.862 68.848 📝 Review:Due to Iran's suspension of cooperation with the UN nuclear watchdog and the trade agreement reached between the US and Vietnam, both oil prices surged by up to 3% intraday. WTI crude oil started its rally during the European session and climbed back above $66 during the US session, ultimately closing up 2.82% at $66.62 per barrel; Brent crude oil closed up 2.7% at $68.73 per barrel.🕵️ Operation suggestion:WTI Crude Oil 66.389 Buy Target Price 69.411
IndiceProduct Yesterday's Change Yesterday's Close Today's Open Nasdaq 100 ▲0.62% 22624.05 22623.45 Dow Jones ▼-0.06% 44465.9 44470 S&P 500 ▲0.40% 6223.15 6224.05 US Dollar Index ▲0.13% 96.51 96.49 📝 Review:The Dow Jones Industrial Average edged down 0.02%, the S&P 500 rose 0.47%, and the Nasdaq gained 0.94%. Circle (CRCL.N) fell 7.6%, Apple (AAPL.O) rose over 2%, Tesla (TSLA.O) jumped 4.97%, and Nvidia (NVDA.O) climbed 2.6%. The Nasdaq Golden Dragon China Index rose slightly, while Alibaba (BABA.N) dropped 2.8%.🕵️ Operation suggestion:Nasdaq 100 22636.250 Buy Target Price 22820.070
Calendar
20:30 (GMT+8): U.S. June Non-Farm Payrolls Change Seasonally Adjusted- 20:30 (GMT+8): U.S. Initial Jobless Claims for the Week Ending June 28
- 20:30 (GMT+8): U.S. May Trade Balance
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