Market Overview - Page 24

The British labour market deterioration has weakened the pound due to rising unemployment rates and slowing income growth. Bank of England's easing measures have not yet reversed the trend, increasing expectations of further rate cuts.

Silver and platinum are experiencing strong rallies and attracting bullish investors as gold faces turbulence. Platinum has surged 35% to $1,225, while silver has risen 27% to $36.9, with both metals showing potential for further growth.

ADP employment data suggests a significant slowdown in the US labour market, with private sector employment growth at a low of 37K. But this unlikely brings Fed closer to rate cut because of accelerating price pressure

The US dollar is on the rise, gold is losing its safe-haven status, and Bitcoin is cooling off after a record-breaking run.

US personal income grew by 0.8% in April, exceeding analyst expectations, leading to higher savings rates due to modest spending increases, with inflation slowing to a four-year low of 2.5%. Fed's dovish stance may bring forward the next rate cut.

The US dollar rebounded to 50-day MA but remains on a long-term decline.

Gold experienced a downturn but rebounded after being bought back during an intraday dip. The price increased, testing a downward resistance line with potential for growth.

The Reserve Bank of New Zealand cuts key rate by 25 basis points to 3.25% to stimulate economic recovery. Bullish news supports New Zealand dollar against US dollar despite interest rate spread.

Market Picture Market capitalisation has risen 0.5% in the last 24 hours to $3.44 trillion, but that’s below Tuesday’s intraday peaks of $3.49 trillion and last Friday’s highs of $3.54 trillion. This is an interesting development given the risk appetite.

Preliminary data shows a smaller drop in US durable goods orders than expected, mainly due to the transport sector. Concerns arise over potential stagnation or contraction in the economy.

Japan's high debt burden may lead to a reversal in monetary policy to support the bond market and exports. The USDJPY pair is seen to have retreated from long-term support at 140, with the potential to rise to 160 or higher.

The EU tariff shift led to a bounce in the S&P500 off its 200-day MA after US President delayed imposing tariffs, pushing the index towards potential historical highs.