What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
Signals from the Federal Reserve
The Federal Reserve has already raised interest rates twice this year. At its August meeting, the US central bank sounded confident enough about the country’s economic outlook and wasn’t very concerned by the threat of trade wars between the Unites States and other key economies. Traders will be able to find out the details of the meeting at 21:00 MT time on August 22. Market players are almost sure now that the Fed will increase its interest rate in September. Many traders also expect a rate hike in December.
• If the information from the central bank confirms the expectations of 2 more rate hikes in 2018, the USD will increase.
• If the central bank doesn’t hint on 2 more rate hikes this year, the USD will decline.
Similar
The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Latest news
Risk-on is back. Market news and trade ideas on July 9.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
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