IC Markets Europe Fundamental Forecast | 10 May 2024 What happened in the Asia session? The dollar index (DXY) remained in a narrow range of 15 pips as it consolidated between 105.20 and 105.34 for most parts this session while gold prices remained elevated above $2,350/oz. Meanwhile, demand for crude oil remained strong as WTI oil climbed above the threshold of $80 per barrel and is all but certain to close in the green today. What does it mean for the Europe & US sessions? After declining in the last quarter of 2023 by 0.2% YoY, GDP output looks primed to rebound in the first quarter of ..read more

Global Markets:  Asian Stock Markets : Nikkei up 0.49%, Shanghai Composite down 0.06%, Hang Seng up 2.08% ASX up 0.42% Commodities : Gold at $2364.5 (1.05%), Silver at $28.88 (1.26%), Brent Oil at $84.47 (0.68%), WTI Oil at $79.91 (0.79%) Rates : US 10-year yield at 4.46, UK 10-year yield at 4.18, Germany 10-year yield at 2.48 News & Data: (USD) Unemployment Claims 231K vs 212K expected (GBP) Official Bank Rate 5.25% vs 5.25% expected Markets Update: On Friday, Hong Kong led Asia-Pacific stocks, buoyed by Wall Street’s positive performance and renewed hopes for U.S. Federal Reser ..read more

DXY (US Dollar Index): Potential Direction: Bullish Overall momentum of the chart: Neutral Price is trading around the pivot and could potentially make a bullish reaction off this level to rise towards the 1st resistance. Pivot: 105.11 Supporting reasons: Identified as a pullback support that aligns with a 50% Fibonacci retracement level, suggesting an area where buying interests have increased recently. 1st support: 104.89 Supporting reasons: Acts as a pullback support that aligns with a 61.8% Fibonacci retracement level, representing a level where buyers could potentially intervene to suppor ..read more

IC Markets Asia Fundamental Forecast | 10 May 2024 What happened in the US session? As widely anticipated, the Bank of England (BoE) kept its official bank rate on hold at 5.25% – this marked the sixth consecutive meeting where policymakers left the rate unchanged. Although members of the Monetary Policy Committee (MPC) voted by a majority of 7 to 2 to maintain the official bank rate at 5.25%, the number of members who preferred to reduce the rate by 25 basis points (0.25%) increased from one to two. During his press conference, Governor Andrew Bailey noted that higher rates are reducing infla ..read more

Global Stocks Push Higher – Dow up 0.85% Global stock markets pushed higher again in trading yesterday with European bourses leading the way, the FTSE 100 and the Euro STOXX6000 both hitting record highs. US indices again moved north later in the day after higher unemployment claims data increased investor hopes of earlier cuts from the Fed. The Dow recorded a 7th straight positive session, closing up 0.85%, the S&P added another 0.51% and the Nasdaq rose 0.27%.  US Treasury yields drifted lower after the data, the 2-year losing 2.8 basis points and the 10-year 2.6, to finish the day ..read more

Dear Traders, As part of our commitment to providing the best trading experience to our customers, we want to inform you of upgrades to our cTrader Servers on Sunday, 12 May 2024.  During the upgrade, the cTrader backend and associate services may be unavailable for a short period, according to the times below: Start Date and Time: Sunday, 12 May 2024 10:00 (GMT+3) or Server time End Date and Time: SundY, 12 May 2024 10:35 (GMT+3) or Server time No action is required from your side, the cTrader servers will automatically be available once the maintenance is complete. We t ..read more

1 Ex-Dividends 2 10/5/2024 3 Indices Name Index Adjustment Points 4 Australia 200 CFD AUS200 5 IBEX-35 Index ES35 6 France 40 CFD F40 7 Hong Kong 50 CFD HK50 8 Italy 40 CFD IT40 9 Japan 225 CFD JP225 10 EU Stocks 50 CFD STOXX50 0.48 11 UK 100 CFD UK100 12 US SP 500 CFD US500 0.82 13 Wall Street CFD US30 1.64 14 US Tech 100 CFD USTEC 2.48 15 FTSE CHINA 50 CHINA50 16 Canada 60 CFD CA60 17 Germany Tech 40 CFD TecDE30 18 Germany Mid 50 CFD MidDE50 19 Netherlands 25 CFD NETH25 ..read more

IC Markets Europe Fundamental Forecast | 9 May 2024 What happened in the Asia session? The average cash earnings – an indicator for wage growth – slowed to 0.6% in March after increasing relatively strongly in January and February, rising 2% and 1.7%, respectively YoY. Not only did wage growth miss its estimate of 1.5%, it was also the lowest reading since last September. Weaker increases in average earnings are likely to curb the spending power of the Japanese consumer and potentially fail to ignite inflation, something that the Bank of Japan (BoJ) is attempting to achieve. This may cause the ..read more

Global Markets:  Asian Stock Markets : Nikkei down 0.34%, Shanghai Composite up 0.71%, Hang Seng up 1.18% ASX down 1.06% Commodities : Gold at $2321.5 (-0.05%), Silver at $27.88 (1.06%), Brent Oil at $83.81 (0.28%), WTI Oil at $79.32 (0.45%) Rates : US 10-year yield at 4.50, UK 10-year yield at 4.34, Germany 10-year yield at 2.48 News & Data: (USD) Crude Oil Inventories -1.4M vs -1.0M expected Markets Update: Chinese stocks surged on Thursday as imports outpaced expectations and exports met projections. In April, China’s imports spiked by 8.4%, exceeding the forecasted 4.8% rise ..read more

DXY (US Dollar Index): Potential Direction: Bearish Overall momentum of the chart: Neutral Price is trading around the pivot and could potentially make a bearish reaction off this level to drop towards the 1st support Pivot: 105.52 Supporting reasons: Identified as an overlap resistance that aligns with a 50% Fibonacci retracement level, suggesting an area where selling pressures could intensify. 1st support: 104.88 Supporting reasons: Acts as a pullback support that aligns with a 61.8% Fibonacci retracement level, representing a level where buyers could potentially intervene to support the pr ..read more