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The greenback is in a stable condition and is at its strengthening level compared to several other major currencies. The strengthening of the US Dollar is supported by the increase in the yield of US government bonds. The increase in bond yields is in line with unstable market conditions. Over the past few times, the movement of the 10-year bond yield has experienced unstable movements due to the fluctuating US economic conditions. EURUSD moves flat, tending to weaken for the Euro currency compared to the US Dollar currency.
The flat movement of the Euro is due to the Greenback's strengthening condition compared to other major currencies. In addition, the Euro currency is also at its highest level. The flat movement of the Euro currency is the impact of the optimistic attitude of market players regarding the release of European economic data. The data is the German manufacturing and service sector index data. In today's market movement, EURUSD is predicted to still move lower for the Euro compared to the US Dollar. GBPUSD moved lower for the Poundsterling compared to the US Dollar, in the market trading last Friday.
The weakening of the Poundsterling is due to the pessimistic attitude of market players regarding the release of UK economic data. The data is the UK manufacturing and services index data. For today's market movement, GBPUSD is predicted to continue to weaken the Poundsterling currency against the US Dollar. The weakening of the Poundsterling is due to the still high number of sufferers of the Delta variant of Covid-19 in the UK, in addition to the ongoing Brexit tensions regarding the protocol in Northern Ireland.
Weekly market analysis discusses USDJPY moving weaker for the Japanese Yen currency compared to the US Dollar currency, in the market trading last Friday weekend. The weakening of the Yen was the impact of the strengthening of the Greenback currency. For today's market movement, the Yen currency is predicted to continue to weaken. This is because the release of negative Japanese economic data, the data is the Flash Manufacturing PMI.
AUDUSD moved lower for the Aussie compared to the US Dollar in the Friday trading market last weekend. The weakening of the Aussie was caused by the strengthening of the Greenback currency and the still high number of sufferers of the Delta variant of Covid-19 in Australia. For today's market movement, the prediction is that the Aussie will continue to weaken because the US Dollar is still strengthening. In addition, the Delta variant in Australia is increasing, especially in the Sydney area. This is related to the extension of the lockdown in Sydney until September.
Oil prices moved up limitedly in the Friday trading market last weekend. The increase in oil prices was due to sentiment that oil supply in the market would decrease slightly until the end of this year. For today's market movement, oil prices are predicted to decrease, due to profit-taking actions by market players after the increase last week. In addition, there is information about an increase in RIG activity in the US as reported by Baker Hughes.
In the market movement last Friday, the price of Gold experienced a decline. This decline in Gold was caused by the condition of the Greenback which was still strengthening against other currencies. The price of Gold will decline if the US Dollar strengthens, but in trading last weekend the decline in Gold was only slight from its highest level. In today's market trading, it is predicted that the price of Gold will try to recover from its decline. This is because it is still supported by the prolonged Covid-19 Delta variant pandemic that has hit all countries in the world. Gold is a safe haven asset chosen by market players if market conditions are uncertain or if there is an incident that hits most countries in the world.
Important Data Weekly Market Analysis 26 - 30 July 2021
The following is GIC's discussion of important weekly financial market analysis data from July 26-30, 2021. Starting from CB Consumer Confidence, to Core PCE Price Index.CB Consumer Confidence (USD)
Tuesday, 21:00 WIB. The data is a survey of about 3,000 households that asked respondents to rate the relative level of current and future economic conditions including labor availability, business conditions and the overall economic situation. People's confidence in their financial condition is a leading indicator of consumer spending, which accounts for a large share of overall economic activity.CPI & Trimmed Mean CPI (AUD)
Wednesday, 08:30 WIB. CPI This data calculates changes in the prices of goods and services at the consumer level. The average prices of various goods and services are sampled and then compared with the sampling in the previous period. Consumer prices are the majority of the overall data for calculating a country's inflation rate. Inflation is very important for assessing whether a country's currency is weakening or strengthening, because if prices rise, the central bank will raise interest rates in order to control inflation. If this data is released, it will have a major impact on market movements.Trimmed Mean CPI is data that calculates the rate of change in the price of goods and services at the consumer level, this price is outside the 30% of the most volatile goods. Consumer prices are the majority of the overall data for calculating a country's inflation rate. Inflation is very important for assessing whether a country's currency is weakening or strengthening, because if prices rise, the central bank will raise interest rates in order to control the inflation rate. If this data is released, it will have a major impact on market movements.
CPI (CAD)
Wednesday, 19:30 WIB. This data calculates changes in the prices of goods and services at the consumer level. The average prices of various goods and services are sampled and then compared with the sampling in the previous period. Consumer prices make up the majority of the overall data for calculating a country's inflation rate. Inflation is very important for assessing whether a country's currency is weakening or strengthening, because if prices rise, the central bank will raise interest rates in order to control inflation. If this data is released, it will have a major impact on market movements.FOMC Statement & Federal Fund Rate (USD)
Thursday, 01:00 WIB. FOMC (Federal Open Market Committee) Statement is a meeting of the heads of the central banks of the United States headed by The Fed. They meet to agree on the policies to be taken. In 1 year they will hold 8 meetings and this is a detailed record of the latest FOMC meeting, after they meet they usually vote on setting interest rates.The Federal Fund Rate is a decision by a country's central bank to maintain, raise or lower interest rates. Short-term interest rates are the most important factor in determining the value of a country's currency. Market players will definitely pay close attention to the release of this data. After this data is released, it will usually be followed by a statement and information to the mass media which will also be followed by a question and answer session, where this question and answer session will move the market volatile.
FOMC Press Conference (USD)
Thursday, 1:30 p.m. This data is about a press conference that has 2 parts - first a prepared statement is read, then the conference is open to questions from the press. The questions often lead to unscripted answers that create great market volatility. This is one of the main methods the Board uses to provide investors with information about monetary policy. It covers in detail the factors that influenced the latest interest rate decision, such as the overall economic outlook and inflation. Most importantly, it provides clues about what monetary policy will be in the future.Advance GDP (USD)
Thursday, 19:30 WIB. This data is data that measures the level of income and purchasing power of a country, and data that records the annual rate of change in the inflation-adjusted value of all goods and services produced by the country. The release of GDP (state income and expenditure) data has several levels in its release, namely Advance GDP, Preliminary GDP, and Final GDP. Because Advanced is the earliest to be released, it will be awaited by market players and is able to move the market volatilely.GDP (CAD)
Friday, 19:30 WIB. This data is data that measures the level of income and purchasing power of a country, and data that records the annual rate of change in the inflation-adjusted value of all goods and services produced by the country.Core PCE Price Index (USD)
Friday, 19:30 WIB. This data represents the change in prices of goods and services purchased by consumers, excluding food and energy. It differs from Core CPI in that it only measures goods and services targeted and consumed by individuals. Prices are weighted by total spending per item, which provides important insight into consumer spending behavior. This is reportedly the Federal Reserve's favorite inflation measure, but the CPI is released about 10 days earlier and tends to garner the most attention.Weekly Market Analysis Technical 26 - 30 July 2021
The following is a discussion of the weekly market technical analysis from 26-30 July 2021 by GIC. Analysis ranging from EURUSD to oil commodities.EUR/USD
| Preference | BEARISH |
| Movement Range | 1,19000 (High) |
| Movement Range | 1,16289 (Low) |
USDCHF
| Preference | BULLISH |
| Movement Range | 0,93201 (High) |
| Movement Range | 0,90837 (Low) |
GBPUSD
| Preference | BEARISH |
| Movement Range | 1,40141 (High) |
| Movement Range | 1,35645 (Low) |
USDJPY
| Preference | BULLISH |
| Movement Range | 111,201 (High) |
| Movement Range | 108,586 (Low) |
Gold
| Preference | BEARISH |
| Movement Range | 1877,00 (High) |
| Movement Range | 1748,00 (Low) |
AUDUSD
| Preference | BEARISH |
| Movement Range | 0,75355 (High) |
| Movement Range | 0,70965 (Low) |
Oil
| Preference | BEARISH |
| Movement Range | 73,15 (High) |
| Movement Range | 66,88 (Low) |
This is the weekly market analysis for July 26-30, 2021, which discusses the strengthening of the Greenback due to the impact of the Delta variant virus which is still a polemic in several countries in the world and market players hunting for the US Dollar and its effects on market movements. Always prioritize Money Management and Risk Management in your trading. Also read articles and analysis of Forex and other commodities such as "Capital Gain" in the GIC Journal. Also, follow events from GIC such as NFP Live Trading and get bonuses in the GIC affiliate program.
