{"id":103830,"date":"2024-07-18T04:10:01","date_gmt":"2024-07-18T00:10:01","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=103830"},"modified":"2024-07-18T04:13:06","modified_gmt":"2024-07-18T00:13:06","slug":"market-drivers-us-session-july-17-2","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-july-17-2\/07\/18\/market-updates\/","title":{"rendered":"Market Drivers; US Session, July 17"},"content":{"rendered":"\n

The US Dollar declined to new four-month lows due to additional foreign exchange (FX) intervention by the Bank of Japan (BoJ), stronger expectations of rate cuts, and improved sentiment in risk-related assets.

On Thursday, the European Central Bank (ECB) is likely to keep its policy rates unchanged, with investors closely monitoring President Lagarde\u2019s statements for hints about future rate cuts.

Key events on July 18 include the usual weekly Initial Jobless Claims, Philly Fed Manufacturing Index, CB Leading Index, and Net Long Term TIC Flows. Additionally, the Fed\u2019s Logan is expected to speak.

EUR\/USD climbed to multi-week highs around 1.0950 due to Dollar selling pressure. The ECB\u2019s interest rates are expected to remain unchanged.

GBP\/USD surpassed the 1.3000 level for the first time since July 2023, and the UK labor market report will be in focus. USD\/JPY declined further due to suspected BoJ intervention. Trade balance and weekly foreign bond investment figures will be released.

AUD\/USD experienced a third consecutive pullback amid commodity weakness and Chinese demand concerns. The Australian labor market report will be closely watched.

Commodities<\/strong>

WTI crude oil prices rose to three-day peaks near $83.00, driven by a weaker Dollar, geopolitical tensions, and a larger-than-expected drop in US inventories.

Gold reached an all-time high near $2,490 per ounce before a slight correction, while silver declined to two-week lows around $30.00 per ounce.

Also Read:
<\/strong>Explainer: Why oil recovers gain 2% after three declining days<\/a><\/p>\n\n\n\n

GBP\/JPY drops as rumors amid continued BoJ\u2019s Yenterventions<\/a><\/p>\n\n\n\n

XAU\/USD retreats despite Fed rate cut expectations<\/a><\/p>\n\n\n\n

Despite positive housing data, dovish Fed bets, US dollar retreats<\/a><\/p>\n\n\n\n

Canadian dollar retreats as markets reassess BoC rate decision<\/a><\/p>\n\n\n\n

GBP\/USD Surges After UK Inflation Data<\/a><\/p>\n\n\n\n

Should Investors Buy Tesla Now, or Wait to See?<\/a>


<\/p>\n","protected":false},"excerpt":{"rendered":"

The US Dollar declined to new four-month lows due to additional foreign exchange (FX) intervention by the Bank of Japan (BoJ), stronger expectations of rate cuts, and improved sentiment in risk-related assets.On Thursday, the European Central Bank (ECB) is likely to keep its policy rates unchanged, with investors closely monitoring President Lagarde\u2019s statements for hints …<\/p>\n","protected":false},"author":13,"featured_media":52661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7907,6923,6885,6874,6909],"class_list":["post-103830","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-boj","tag-ecb","tag-fed","tag-gold","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/103830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=103830"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/103830\/revisions"}],"predecessor-version":[{"id":103840,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/103830\/revisions\/103840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52661"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=103830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=103830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=103830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}