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Market News June retail sales monthly rate data exceeded expectations; gold hit a new high again!
Markets News
June retail sales monthly rate data exceeded expectations; gold hit a new high again!
TOPONE Markets Analyst2024-07-17 09:32:51
Hot spot tracking
- The monthly rate of US retail sales in June was 0%, higher than the expected -0.3%. Retail sales recorded the largest increase in three months, which is bearish for the US economy, the US dollar and US stocks.
- The Bank of Japan's current account showed that Japanese authorities may have spent $13.5 billion on yen intervention last Friday. This operation is bearish for the yen in the short term, but bullish for the yen in the long term.
- The IMF maintained its forecast for global GDP growth in 2024 at 3.2%, and raised its forecast for global GDP growth in 2025 from 3.2% to 3.3%. The rise in global GDP expectations is bullish for global stock markets.
Product Hot Comment
ForexProduct Yesterday's Change Yesterday's Close Today's Open EUR/USD ▲0.02% 1.08981 1.08983 GBP/USD ▲0.07% 1.29727 1.29716 AUD/USD ▼-0.39% 0.6736 0.67351 USD/JPY ▲0.21% 158.405 158.327 GBP/CAD ▲0.02% 1.77361 1.77328 NZD/CAD ▼-0.49% 0.82697 0.82708 📝 Review:On Tuesday, the dollar index rose to 104.51 as retail sales data came in higher than expected. But as the market weighed the possibility of a rate cut by the Federal Reserve, the dollar index subsequently gave up all of its gains for the day. It eventually closed down 0.01% at 104.24. The benchmark 10-year Treasury yield closed at 4.1630%, and the two-year Treasury yield closed at 4.4260%.🕵️ Operation suggestion:USD/JPY 158.481 Sell Target Price 157.422
GoldProduct Yesterday's Change Yesterday's Close Today's Open Gold ▲1.91% 2468.7 2468.64 Silver ▲1.85% 31.229 31.222 📝 Review:As traders increased their bets on the Federal Reserve's rate cut and Trump's victory, spot gold opened higher and ended higher. It eventually closed up 1.93% at $2,468.40 per ounce, a record high. Spot silver eventually closed up 1.87% at $31.23 per ounce.🕵️ Operation suggestion:Gold 2466.50 Buy Target Price 2479.37
Crude OilProduct Yesterday's Change Yesterday's Close Today's Open WTI Crude Oil ▼-1.50% 79.761 79.788 Brent Crude Oil ▼-1.41% 83.094 83.128 📝 Review:International oil prices fell as the market worried about slowing demand in Asia. WTI crude oil closed down 1.47% at $80.73 per barrel, while Brent crude oil finally closed down 1.20% at $83.81 per barrel.🕵️ Operation suggestion:WTI Crude Oil 79.604 Sell Target Price 79.117
IndiceProduct Yesterday's Change Yesterday's Close Today's Open Nasdaq 100 ▼-0.24% 20403.25 20398.24 Dow Jones ▲1.65% 40974.9 41021.5 S&P 500 ▲0.37% 5667.03 5669.27 ▼0.00% 17559.3 17559.3 US Dollar Index ▼-0.04% 103.76 103.76 📝 Review:The Dow Jones Industrial Average closed up 1.85%, setting a new closing high, the S&P 500 rose 0.64%, and the Nasdaq rose 0.2%. Tesla (TSLA.O) closed up 1.5%, and Nvidia (NVDA.O) fell 1.6%. The Nasdaq China Golden Dragon Index closed up 0.74%, Xpeng Motors (XPEV.N) rose more than 6%, and NIO (NIO.N) rose 5.8%.🕵️ Operation suggestion:Nasdaq 100 20373.740 Buy Target Price 20598.824
Calendar
20:30 (GMT+8): U.S. housing starts annualized monthly rate in June- 20:30(GMT+8): U.S. June construction permit monthly rate preliminary value
- 21:15(GMT+8): U.S. June industrial output monthly rate
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