Market Analysis Review

July Core PCE Price Index up +0.2%, USDJPY +0.82% (+119.4 pips), CHF Retail Sales MoM forecast: -0.1%

| 02 September, 2024 at 10:36 GMT

Previous Trading Day’s Events (30.08.2024)

Australia Retail Sales: July retail sales flat, missing the 0.3% forecast. Household goods and other retailing unchanged; food up 0.2%, clothing down -0.5%, cafes down for the third month.

Euro Area Inflation Rate: August inflation drops to 2.2%, aligning with ECB’s 2% target and marking the lowest increase since July 2021.

Canada Monthly GDP: July GDP flat; finance and retail gains offset by declines in construction and mining. June GDP revised to no growth.

US Core PCE Price Index: July core PCE up 0.2%, matching June’s increase and market expectations.

Winners Vs Losers In The Forex Market On August 30, 2024, USDJPY led gains with a +0.82% move and 119.4 pips, while AUDUSD lagged, falling -0.49% and losing 33.6 pips in the forex market.

News Reports Monitor – Previous Trading Day (30.08.2024)

Server Time / Timezone EEST (UTC+03:00)

Tokyo Session:

Australia Retail Sales: Bearish AUD and flat July sales, missing the 0.3% forecast.

London Session:

Euro Area Inflation Rate: Bullish EUR; August inflation at 2.2%, aligning with ECB’s target.

New York Session:

Canada Monthly GDP: Bullish CAD; July GDP flat, offsetting sector declines.

US Core PCE Price Index: Bearish USD; July core PCE up 0.2%, in line with expectations.

General Verdict : 

FOREX MARKET MONITOR

EURUSD (30.08.2024) 15m Chart Summary

Server Time / Timezone EEST (UTC+03:00)

Price Movements

EURUSD was bearish, opening at 1.10741 and closing at 1.10467, with a daily high of 1.10950 and a low of 1.10454.

CRYPTO  MARKET MONITOR

BTCUSD (30.08.2024) 15m Chart Summary

Server Time / Timezone EEST (UTC+03:00)

Price Movements

BTCUSD was bearish, opening at $59,589.89 and closing lower at $58,967.89, with a daily high of $59,968.79 and a low of $57,695.39.

STOCKS  MARKET MONITOR

NVIDIA (30.08.2024) 15m Chart Summary

Server Time / Timezone EEST (UTC+03:00)

Price Movements

Nvidia traded bearish, opening at $119.89 and closing lower at $119.41, with an intraday low of $117.20 and a high of $121.85.

INDICES MARKET MONITOR

US30 (30.08.2024) 15m Chart Summary

Server Time / Timezone EEST (UTC+03:00)

Price Movements

The US30 maintained a bullish stance, opening at 41,411.66 and closing higher at 41,587.25, with intraday support at 41,160.37 and resistance at 41,611.63.

COMMODITIES MARKET MONITOR

XAUUSD (30.08.2024) 15m Chart Summary

Server Time / Timezone EEST (UTC+03:00)

Price Movements

XAUUSD traded bearish, opening at $2520.83 and closing at $2501.71, with a daily high of $2527.02 and a low of $2493.56.

News Reports Monitor – Today Trading Day (02.09.2024)

Tokyo Session:

Bullish AUD after AU Building Permits MoM exceeded forecast ( Actual 10.4% vs Forecast 3.4%).

London Session:

CHF Retail Sales YoY forecast at -2.2% with a potential bullish CHF if higher.

CHF Retail Sales MoM forecast at -0.1% with a bearish CHF if lower.

New York Session:

No significant market-moving news.

General Verdict: 

Sources:

http://www.abs.gov.au/

https://ec.europa.eu/eurostat/

https://www.statcan.gc.ca/

http://www.bea.gov/

https://km.bdswiss.com/economic-calendar/

Metatrader 4 (MT4)