Market Overview - Page 15

The Reserve Bank of Australia cut rates to 3.60%, citing inflation in line with expectations. This easing led stocks to all-time highs and the Australian Dollar lower.

US consumer inflation data for July will be key in determining a potential rate cut in September.

Oil prices rebounded by 1.3% to $63.5 per barrel of WTI following a recent 11% decline due to weak US labour market data and increased OPEC+ quotas, reflecting market focus on negative news.

China's falling PPI have contributed to a prolonged period of deflation, prompting potential stimulus measures. Factors include subdued economic growth, low consumer inflation, reduced demand from US tariffs, and global economic slowdown.

Don’t forget to like, share, and subscribe for more weekly updates from FxPro!

Key events for the week include the release of US CPI and US negotiations with Russia. Also, be aware of RBA meeting, UK Jobs and GDP stats.

The dollar initially rose but weakened due to labour market data, increasing Fed rate cut expectations. Political appointments and technical indicators signal potential further dollar weakness.

Gold is rebounding due to factors such as stagflation concerns, potential Fed rate cuts, and high demand in China, with a positive outlook ahead. Potential for a rally to reach $3950-4000 if the upper price limit is broken.

German industrial production has declined sharply in recent months, with the industrial production index at its lowest since April 2010. Stagnant exports and declining industrial orders may lead to a further reduction in the ECB rate, impacting the euro.

The Bank of England is expected to cut its bank rate on Thursday. This decision could impact the EURGBP pair, which is nearing a breakout point towards 0.92 or a drop to 0.8250.

The New Zealand dollar was able to swim against the tide on Wednesday, strengthening against the dollar more than its other competitors on positive labour market statistics. NZDUSD has gained 0.6% since the start of the day to 0.5930, hitting.

Eurozone business activity is slowly growing with an improved manufacturing and a modest increase in services, as seen in the PMI data for July.