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.
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.
Economic data: S&P Global US Services PMI, December, final (48.4 expected, 48.2previously); MBA Mortgage Applications, week ending December 29
CURRENCIES:
U.S. Dollar’s Downward Correction
Witnessed a significant downward correction in the U.S. dollar due to expectations of the Federal Reserve reducing borrowing costs.
US Treasury yields plunged in the last quarter of 2023, contributing to the dollar’s lowest level in five months.
Currency and Precious Metal Performance
EUR/USD and GBP/USD experienced a notable surge, reaching multi-month highs in late December.
Gold prices showed strength, concluding 2023 above $2,000, though slightly below its all-time high.
The bullish trend in gold is expected to continue, benefiting from the Federal Reserve’s policy shift.
Equity Market Rally
The pullback in U.S. bond yields triggered a substantial rally in the equity market.
Major stock market indexes reached new records, reflecting the prevailing risk-on sentiment.
Outlook for Q1 2024
U.S. dollar may continue to face losses in the coming months due to downward-sloping yields.
Anticipated upward momentum for gold, EUR/USD, GBP/USD, and stocks in Q1.
Caution advised as some markets approach potential overbought conditions.
Increased Volatility and Trading Setups
Expect different market dynamics leading to heightened volatility.
Opportunities for enticing trading setups in major assets, including currencies, commodities (gold, silver, oil), and cryptocurrencies.
STOCK MARKET:
Fed Rate Cut Speculation:
Morgan Stanley’s Ellen Zentner suggests a possible Fed rate cut may come later than market expectations.
Zentner emphasizes that monthly payroll additions below 50,000, coupled with consistent low inflation, could trigger a March rate cut.
Caution is advised, highlighting that a single weak jobs report might not be sufficient for a rate cut decision.
Morgan Stanley’s Base Case:
The base case for Morgan Stanley remains a Fed cut in May, contrary to earlier market expectations.
Late 2023 Market Rally Impact:
Investors face the question of whether the late 2023 market rally accelerated the gains expected in 2024 or if there is room for further upward movement.
Ryan Detrick, Chief Markets Strategist at Carson Group, cites historical data indicating that after a late-year S&P 500 rally exceeding 10%, the benchmark average historically rose by an average of 19.5% in the following year.
Contrasting Views on Market Continuation:
Tom Lee, Fundstrat’s Head of Research, acknowledges the likelihood of new all-time highs for the S&P 500 but anticipates a subsequent consolidation.
Lee points out key concerns, including investor uncertainty about the Fed’s rate-cut timing and a potential downturn around February or March in an election year.
Tom Lee’s Market Outlook:
Lee predicts a brief pullback after new all-time highs, suggesting a range of S&P 500 at 4,400-4,500.
Consistent with the 2024 Year Ahead Outlook, Lee’s base case envisions most gains for the S&P 500 in the second half of 2024.
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.
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.
The inaugural week of 2024 is poised to be a dynamic period for traders and investors, with a spotlight on critical economic indicators that are expected to shape market sentiments. Among the pivotal data releases are the ISM Manufacturing and Services PMI from the US, the German Preliminary CPI from the EU, and the highly anticipated US and Canada Employment Change figures. This overview aims to guide you through the key developments and predictions, with a specific emphasis on the potential impact on major currencies, particularly the US Dollar.
It’s crucial for traders to be cautious and stay on top of the latest developments for a successful week of trading.
ISM Manufacturing PMI (3 January 2024)
The ISM Manufacturing PMI, holding steady at 46.7 in November 2023, is expected to modestly increase to 47.1 in the upcoming release on 3 January 2024.
FOMC Meeting Minutes (4 January 2024)
The Federal Reserve maintained the fed funds rate at 5.25%-5.5% for a third consecutive meeting in December 2023. However, they have hinted at a potential 75 basis points cut in 2024. Therefore the meeting minutes on 4 January 2024 will provide insights into the Fed’s latest monetary policy stance, reflecting the current economic indicators, including slowed growth, moderated job gains, and persistent but slightly eased inflation.
German Prelim CPI (4 January 2024)
After a 0.4% decline in November 2023, Germany’s Preliminary CPI, anticipated on 4 January 2024, is expected to rebound with a projected increase of 0.2%.
Canada Employment Change (5 January 2024)
Following positive employment numbers in October and November of 2023, Canada is poised to release its December 2023 employment data on 5 January 2024. Forecasts suggest an increase of 12K jobs, but with a marginal uptick in the unemployment rate to 5.9%.
US Non-Farm Employment Change (5 January 2024)
November 2023 saw a robust addition of 199k jobs in the US, surpassing October figures. The upcoming release on 5 January 2024 is anticipated to reveal a positive trend with an estimated increase of 163,000 jobs, while the unemployment rate is expected to inch up to 3.8%.
US ISM Services PMI (5 January 2024)
Closing the week, the US ISM Services PMI, reflecting growth in the services sector, is projected to experience a marginal decline from 52.7 to 52.6 in the December figures, set for release on 5 January 2024.
As traders embark on the first week of 2024, vigilance and adaptability will be key. Stay informed, monitor the latest developments, and be prepared for potential market shifts in response to these critical economic indicators.
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.
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.
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.
Written on December 29, 2023 at 8:45 am, by anakin
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.
Written on December 28, 2023 at 7:56 am, by anakin
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