Financial Morning Post (2024.05.29)

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Gold and silver
Affected by geopolitical tensions and a weaker dollar, spot gold extended its rebound, reaching as high as $2,358.52, up more than 1% on the day. Spot gold rose for a third straight session, recovering from the $2,360 mark. Spot silver also extended its rebound, hovering near the $32 mark in late trading.

Us stock trends
The Nasdaq rose 0.59% to surpass 17,000 and hit another record high. The Dow was down 0.55%. The S&P 500 rose 0.02%.
Us consumer confidence unexpectedly rose in May for the first time in four months on less negative views of business conditions and the Labour market, data showed.
Nvidia: Up nearly 7% for a total market cap of $2.8 trillion, just $100 billion shy of Apple. Media reports have said that Musk's startup xAI plans to use Nvidia's H100 chip to develop a supercomputer.

Federal Reserve and Central Bank dynamics
Fed: Governor Bowman says balance sheet reduction should continue, thinks policy statement needs more details; Minneapolis Fed president says he hasn't completely ruled out a rate hike.
ECB: Governing Council Holtzmann expects two and up to three rate cuts in 2024.

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(30/05/2024) Financial Morning Report: The US dollar index rebounded, and the rise in US bond yields triggered a decline in global markets

EUR/USD: The euro closed slightly lower. Pay attention to the pressure of 1.0950, and the support below is 1.0750.

GBP/USD: The pound closed slightly lower. Pay attention to the pressure of 1.2850, and the support below is 1.2650.

Precious metals market: The rise in US bond yields boosted the US dollar, and spot gold fell to a two-week low under pressure.

Energy market: International crude oil ended three consecutive increases, and the upward trend of US bond yields hit market risk appetite and dragged down oil prices.

US stock market: The three major US stock indexes closed down collectively, with the Dow Jones Industrial Average down 1%, the S&P 500 down 0.7%, and the Nasdaq down 0.58%.

European market: Major European stock indices fell across the board, with the German DAX index down 1.1%, the British FTSE 100 index down 0.86%, and the European Stoxx 50 index down 1.33%.

 

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Financial Morning Post (31/05/2024)

Foreign exchange

USDX: The GDP data boosted interest rate cut expectations, and the dollar index retreated 0.433% to 104.68. The 10-year yield closed at 4.556 percent and the 2-year yield at 4.933 percent.

EUR/USD: The euro held the 1.0800 level, refreshing the 11-session low. A rise in the dollar index and expectations of an ECB rate cut pressured the euro, but good economic data limited losses. Today focus on 1.0900 pressure, support 1.0700 below.

GBP/USD: The British pound held the 1.2700 mark, refreshing the 3-session low. A higher dollar and profit-taking pressured sterling, but reduced interest rate cut expectations limited losses. Today focus on 1.2800 pressure and support 1.2600 below.

XAU/USD: Gold prices fall, then rise, recover the 2340 mark!

US stock market

indexes: The three major indexes closed lower, with the Dow down 0.86 percent, the S&P 500 down 0.6 percent and the Nasdaq down 1.08 percent.

stocks: Nvidia fell 3.77 percent, Microsoft fell 3.38 percent, Google fell 2.15 percent, Amazon fell 1.48 percent, Meta fell 1.54 percent. Tesla was up 1.48% and Apple was up 0.53%. Dell fell 18% and Saif fell nearly 20%.

 

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Financial Morning Report (June 4, 2024)
1. Gold Market
The gold market was boosted as weaker-than-expected US PMI data increased expectations for a Federal Reserve rate cut. Gold prices returned to the 2350 mark, reaching a high of $2354.72 per ounce, with an intraday increase of over 1%.

2. Forex Market
EUR/USD: The euro found strong support as the Eurozone's May CPI unexpectedly rose and the US dollar index continued to retreat due to weak economic data. However, expectations of a European Central Bank rate cut in June limited the euro's upside potential.

GBP/USD: The pound was supported by the retreat in the US dollar index and the cooling expectations for a Bank of England rate cut in June. Today's focus is on resistance around 1.2850, with support around 1.2650.

3. US Stock Market
The Dow Jones Industrial Average fell 0.3%, the S&P 500 index edged up slightly, and the Nasdaq rose 0.56%. GameStop (GME.N) saw a significant increase, rising 21%, while Nvidia (NVDA.O) hit a new high, up 4.9 percent.

4. Cryptocurrency Market
Bitcoin prices broke above $69,000 per coin, reaching a three-day high with an intraday gain of over 2%.

5. Vietnamese Stock Market
The Vietnamese stock market had a strong start in June, opening nearly 10 points higher. By the close on June 3, the VN-Index rose by 18.28 points (1.45%), reaching 1280.00 points. Market liquidity increased significantly, with turnover exceeding the $1 billion mark.

6. Indian Stock Market
The Indian stock market surged as exit polls indicated that Modi's party is likely to win the Indian election.

 

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US dollar index: Due to the recent strong US economic data, the US dollar index hit a four-week high, reaching a high of 105.46.

Gold: Maintained volatility and finally closed up 0.24% at $2,316.20/ounce.

Silver: Finally closed down 1.61% at $29.26/ounce.

US stock index:
The Dow Jones Industrial Average closed down 0.3%.
The S&P 500 rose 0.28%, setting a new closing high.
The Nasdaq Composite Index rose 0.88%, setting a new closing high.

Stock dynamics:
Apple (AAPL.O) rose 7.2%, with a market value of nearly $3.2 trillion and a new high of $207.15, with a total market value of $3.176 trillion. Apple officially announced that Vision Pro will be launched in China, Japan and Singapore on June 28.
Nvidia (NVDA.O) fell 0.7%.
GameStop (GME.N) rose more than 20%.

Vietnam Market
Vietnam Index: fell 6.26 points (-0.49%) to 1284.41 points.

Transactions: Market liquidity increased sharply, with a trading volume of 949 million shares (up 15.49%) and a turnover of 25.375 trillion VND (up 17.53%).