BOE Interest Rate reduced and NFP projected at 175K

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Previous Trading Day’s Events (01.08.2024)

Australia Balance of Trade: Australia’s trade surplus expanded to AUD 5.59 billion in June 2024, exceeding the AUD 5 billion forecast, with exports increasing 1.7% to AUD 43.77 billion.

Euro Area Unemployment Rate: Euro Area unemployment rose to 6.5% in June 2024, up from 6.4% in May.

United Kingdom Interest Rate: BOE cut the Bank Rate by 25bps to 5% in August.

United States ISM Manufacturing PMI: US ISM Manufacturing PMI dropped to 46.6 in July, missing the 48.8 estimate, while jobless claims increased to 249,000, surpassing the 236,000 forecast.

Apple Earnings (NASDAQ: AAPL): Apple reported EPS of $1.40 and revenue of $85.78 billion, with iPhone revenue at $39.30 billion, all exceeding estimates.

Winners and Losers

On August 1st, 2024, EUR/GBP was the top performer, gaining 0.60% (+0.50 pips), while GBP/CHF was the biggest loser, dropping 1.43% (-161.2 pips).

News Reports Monitor – Previous Trading Day (01.08.2024)

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

1. Tokyo Session:

  • Australia’s trade surplus rose to AUD 5.59 billion, exceeding forecasts with a 1.7% export increase to AUD 43.77 billion. Bearish impact at 1:30 AM GMT.
  •  

    2. London Session:

  • Euro Area unemployment rate increased to 6.5%, with a historical average of 9.3%. Bearish impact at 9:00 AM GMT.
  • Bank of England reduced the Bank Rate by 25bps to 5%, meeting expectations; cautious easing is expected. Bullish impact at 11:00 AM GMT.
  •  

    3. New York Session:

  • US ISM Manufacturing PMI fell to 46.6, signalling contraction; initial jobless claims rose to 249,000. Bullish impact at 2:00 PM GMT.
  • Apple (NASDAQ: AAPL) reported EPS of $1.40 and revenue of $85.78 billion, surpassing estimates; mixed market reaction. Bearish impact.
  •  

    General Verdict 

  • Australia’s trade surplus and export growth exceeded forecasts but had a bearish impact.
  • Euro Area’s rising unemployment rate was bearish, while the Bank of England’s rate cut was bullish.
  • US PMI contraction and rising jobless claims were bullish, but Apple’s mixed earnings report had a bearish impact.
  •  

    FOREX MARKETS MONITOR

    EURUSD (01.08.2024) 15m Chart Summary

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

    Price Movements

    EUR/USD was bearish, opening at 1.08218 and closing at 1.07900, with a high of 1.08349 and a low of 1.07762.

    CRYPTO  MARKETS MONITOR

    BTCUSD (01.08.2024) 15m Chart Summary

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

    Price Movement

    BTC/USD was bullish, opening at $64,543.11 and closing at $64,674.86, with a high of $65,092.05 and a low of $62,215.58.

    STOCKS  MARKETS MONITOR

    APPLE (01.08.2024) 15m Chart Summary

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

    Price Movement

    Apple was bearish, opening at $224.05 and closing at $218.39, with a high of $225.78 and a low of $216.95.

    EQUITY  MARKETS MONITOR

    SP500 15 minutes Chart Summary

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

    Price Movement

    S&P 500 was bearish, opening at $5,550.37 and closing at $5,426.40, with a high of $5,569.21 and a low of $5,426.40.

    COMMODITIES  MARKETS MONITOR

    GOLD 15 minutes Chart Summary

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

    Price Movement

    XAU/USD was bearish, opening at $2,447.91 and closing at $2,445.56, with a high of $2,461.98 and a low of $2,429.93.

    News Reports Monitor – Today Trading Day (02.08.2024)

    1. Tokyo Session:

    Australia’s producer prices rose 4.80% YoY in Q2 2024, up from 4.30% in Q1. Bullish at 1:30 AM GMT.

    2. London Session:

    Switzerland’s CPI fell 0.20% MoM in July 2024. Bullish at 6:30 AM GMT.

    3. New York Session:

    The US is expected to add 175K jobs in July 2024 with an unemployment rate steady at 4.1%, the highest since November 2021.

    General Verdict 

  • Australia’s producer prices increased 4.80% YoY, bullish impact.
  • Switzerland’s CPI decreased by 0.20% MoM, a bullish impact.
  • US job growth is projected at 175K, with unemployment steady at 4.1%.
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    Source 

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

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

    https://www.bankofengland.co.uk/

    https://www.ismworld.org/

    http://www.dol.gov/

    https://www.investing.com/equities/apple-computer-inc-earnings

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

    https://www.bfs.admin.ch/

    http://www.bls.gov/

    https://marketmilk.babypips.com/

    Metatrader 4 ( MT4 ) 

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