MARKET INSIGHTS (August 03, 2023)

Summary of yesterday's market movement

Yesterday, the Federal Reserve released ADP Non-Farm Employment Change data, which caused an increase in the US dollar index. Consequently, the price of gold experienced a significant decline due to the rise in the US. dollar and U.S. bond interest rates.

Economic News & Deta

Today, we will focus on the U.SISM Service PML This data will show the level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry Therefore, expect the market might face high volatility.

At present, the employment data in the United States has gradually slowed down. The reason is that the Federal Reserve has begun to continue to tighten monetary policy, which will allow banks to increase their requirements for loans, and indirectly reduce the demand for employment. Therefore, it is judged that the ADP employment data in the United States will be lower than expected pressure on the dollar.

Trading Opportunities

Today Key Points

The Currency Strength Index has shown the dollar's strength has begun to strengthen.

• The market expects the Fed will cause interest rate hike soon.

• Gold & Stock indexes will rebound in a short period of time.

At present, the U.S. economic system is gradually recovering, which makes all members of the Federal Reserve think that it will not enter the stage of cutting interest rates in 2023, resulting in a substantial boost to the 10-year U.S. bond yield, which indirectly supports the U.S. dollar index.

Today we can focus on USD currency pairing #USD/JPY#, #USD/CAD#, #USD/CHF#

(总结)目颜昨天的市場走势

昨天,美联储公布ADP非农就业变化数据,引发美元指数上涨。因此,由于美元和美借利率上 升,金价大幅下跣 經濟新聞與數據 今天我们重点关注美国ISM服务业PMI。该数据将显示基于受访采购经理(不包括制造业)的扩散 指数水平。因此,预计市场可能面临大幅波动 可关注美元的相关品种(USDUPY, USDCAD, USDCHF)

目前,美国就业数据已逐渐放顷。原因是美联储开始继续收紧货币政策,这将使得银行提高贷款要 求,间接减少就业需求。因此判断美国ADP 就业数据低于预期将给美元带来压力。

交易機會

今日重點

貴幣強弱指數顯示美元強弱開始走強 市場預期美聯儲未來會進入暫停加息週期 黄金與股指將在短時間內反彈 目前美國經濟體系逐步復甦,令美联储全體成員認為2023年不會進入降息階段,導致10年期美 侨收益率大幅提掘,間接支援美元指数。