CURRENCIES:

Upcoming Markets Overview

• S&P 500 and Dow Jones reach new peaks
• Gold’s value decreases
• U.S. Dollar experiences a rally

Federal Reserve’s Recent Decisions

Key Financial Updates:

• U.S. Dollar rises following higher-than-expected Nonfarm Payrolls (NFP) report.
• Gold prices drop in response.

Stock Market Movements

• U.S. stock markets, particularly tech stocks like Amazon and Meta, continue to perform strongly.
• Microsoft and Apple show volatility but recover losses.

Noteworthy Company Earnings

Market Influences

• Light week ahead for market-moving news and events.
• Federal Reserve members to resume commentary, potentially discussing rate cut timelines.

Banking Sector Spotlight

• Maintains current interest rates; shifts away from tightening monetary policy.
• Discussion around rate cuts, with a focus on future meetings.
• Upcoming earnings reports from Ford, MicroStrategy, Uber Technologies, Alibaba, and PayPal.
• US regional banks under scrutiny after New York Community Bancorp’s share value drops. significantly.

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Stock Market:

Earnings: Allegiant (ALGT), Caterpillar (CAT), Chegg (CHGG), Estee Lauder (EL), McDonald’s (MCD), Palantir (PLTR), Tyson (TSN).

Economic news: S&P Global US services PMI, January final (52.9 expected, 52.9 prior), S&P Global composite PMI, January final (52.3 expected), ISM services index, January (52 expected, 50.5 prior).

Weekly Market and Earnings Overview:

• S&P 500 reaches an all-time high closing.
• All major indexes see gains despite a volatile week.

Influential Tech Earnings and Federal Reserve’s Stance:

• Mixed reactions to tech earnings from Microsoft and Alphabet.
• Fed Chair Jerome Powell signals unlikely March interest rate cut.

Key Earnings Driving Market Rally:

• Impressive earnings from Meta and Amazon boost market confidence.
• Robust January jobs report further fuels stock market rally.

Corporate Earnings Spotlight:

• Upcoming earnings from Eli Lily, Disney, Spotify, McDonald’s, Chipotle, and Pepsi.
• Investor focus on corporate performance amid light economic calendar.

Interest Rate Cut Debate Continues:

• Powell seeks more certainty on inflation before considering rate cuts.
• January jobs report supports cautious Fed stance on interest rates.

Earnings Outlook and Market Sentiment:

• Positive shifts in S&P 500 earnings expectations.
• Analysts adjust Q1 earnings estimates; market watches for further changes.

Upcoming Economic Data:

• Limited economic data expected; focus on jobless claims and services sector update.

Investor Watch Points:

• Market to react to additional corporate earnings reports.
• Interest rate cut probabilities adjust based on recent economic indicators.

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Dear Client,

Affected by international holidays, the trading hours of some VT Markets products will be adjusted. Please check the following link for the remaining affected products:

Notification of Trading Adjustment in Holiday

Note: The dash sign (-) indicates normal trading hours.

Friendly Reminder:
The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

In the dynamic landscape of the global economy, investors and analysts remain vigilant, focusing on pivotal events to decipher the trajectory and well-being of diverse economies. Let’s delve into the significant economic indicators and upcoming decisions slated for February 2024.

US ISM Services PMI (5 February 2024)

Following an unexpected dip to 50.6 in December 2023, the US ISM Services Purchasing Managers’ Index (PMI) reflected its lowest point in seven months. Analysts are eyeing the January 2024 data, set to be unveiled on 5 February 2024, with expectations of a rebound to 52.0. This release will serve as a crucial gauge of the US services sector’s health and its potential repercussions on the broader economy.

Reserve Bank of Australia Rate Decision (6 February 2024)

Having maintained cash rates at 4.35% in its final 2023 meeting, the Reserve Bank of Australia (RBA) is anticipated to uphold current interest rate levels on 6 February 2024. This decision will offer valuable insights into the central bank’s monetary policy stance and its evaluation of economic conditions in Australia.

New Zealand Quarterly Employment Change (7 February 2024)

After experiencing a 0.2% decline in Q3 2023, following a 1% surge in the preceding quarter, New Zealand’s employment landscape is under scrutiny. Analysts eagerly await the release of Q4 2023 employment data on 7 February 2024, anticipating a further decrease of 0.3%. This report will highlight trends in New Zealand’s labour market, providing crucial information for economic forecasts.

Canada Employment Change (9 February 2024)

With employment in Canada edging up by 0.1K in December 2023, subsequent to a noteworthy 24.9K rise in November, the focus now shifts to the January 2024 employment data, expected on 9 February 2024. Analysts are predicting a decrease of 5K jobs, offering insights into the resilience of the Canadian labour market and its adaptability to economic conditions.

Dear Client,

New contracts will automatically be rolled over as follows:

Please note:

• The rollover will be automatic, and any existing open positions will remain open.

• Positions that are open on the expiration date will be adjusted via a rollover charge or credit to reflect the price difference between the expiring and new contracts.

• To avoid CFD rollovers, clients can choose to close any open CFD positions prior to the expiration date.

• Please ensure that all take-profit and stop-loss settings are adjusted before the rollover occurs.

• All internal transfers for accounts under the same name will be prohibited during the first and last 30 minutes of the trading hours on the rollover dates.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Daily Forex Analysis: 2 Jan 2024

CURRENCIES:

Key Points:

• U.S. nonfarm payrolls report is the focal point for Friday.
• Weak jobs report expected to be positive for gold prices; strong data could negatively affect gold.
• The article analyzes the short-term technical outlook for gold.
• Federal Reserve maintains policy settings but abandons tightening bias.
• Rate cut possibility in March remains uncertain, depending on incoming data.
• January U.S. employment report of high significance with expectations of 180,000 added workers.
• Lackluster nonfarm payrolls could bring back March rate cut talks, benefiting gold.
• Strong NFP figures could reduce dovish sentiments on Fed’s policy, leading to potential pressure on gold in February.

STOCK MARKET:

• Market Recovery: Stocks experienced a rebound on Thursday, recovering from the previous day’s significant losses, in anticipation of major tech companies’ earnings reports.
• S&P 500, Dow Jones, and Nasdaq Performance: The S&P 500 increased by 1.2%, the Dow Jones Industrial Average by nearly 1%, and the Nasdaq Composite led the gains with a 1.3% rise.
• Federal Reserve’s Influence: The Federal Reserve’s potential rate changes were a central focus, with Fed Chair Jerome Powell indicating a less likely rate cut in the March meeting, against earlier investor expectations.
• Tech Giants’ Earnings Spotlight: Post-market earnings announcements from Apple, Amazon, and Meta (part of the “Magnificent Seven”) significantly influenced market sentiments.
• Meta’s Surge: Meta’s shares surged over 12% after it exceeded earnings expectations, announced a $50 billion share buyback, and declared a $0.50 cash dividend.
• Amazon’s Positive Outcome: Amazon’s stock also saw gains, rising more than 4% after reporting better-than-expected fourth-quarter earnings and providing an optimistic future outlook.
• Apple’s Mixed Results: Apple’s revenue beat expectations, but concerns about slowing sales growth in China affected its stock performance ahead of the earnings call.
• Contrast with Earlier Tech Earnings: This positive shift contrasted with disappointing earnings from Microsoft and Alphabet earlier in the week, which had negatively impacted their stock prices.
• Upcoming Economic Data: Investors are also looking forward to January’s job market data, with the nonfarm payrolls report due on Friday.

Get expert analysis on gold and stock trends post-NFP report and tech earnings. Start trading with VT Markets now!

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.