{"id":68071,"date":"2022-07-05T04:01:49","date_gmt":"2022-07-05T00:01:49","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=68071"},"modified":"2022-07-05T04:05:37","modified_gmt":"2022-07-05T00:05:37","slug":"market-drivers-us-session-july-4","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-july-4\/07\/05\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 July 4"},"content":{"rendered":"\n

Asian shares achieved shy gains, but European indexes maintained the green the territory with some difficulty, reflecting persistent growth and inflation concerns while Wall Street futures responded to such fears by edging lower.

Financial markets witnessed a quiet start of the week, as US markets were closed commemorating the Independence Day Holiday. The dollar gathered some momentum by the end of the day, but price action was limited as traders stayed away on this day off. The dollar advanced against its safe-haven rival currencies, with USD\/CHF trading at 0.9610 and USD\/JPY at 135.70.

Gold Price saw limited activity, changing hands at around $1,807 per ounce. Crude oil, on the other hand, is up, with WTI trading at $110.45 per barrel.

Economic Data
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The EUR\/USD pair trades around 1.0420, not far from Friday close. Negative European data undermined demand for the Euro, as the May Producer Price Index was up by 36.3% YoY. The energy crisis also hurt the EUR amid the Russian invasion of Ukraine.

Other Developments
<\/strong>
In the US, attention remains on the Biden administration as officials are discussing whether or not to remove Chinese tariffs imposed by former President Donald Trump. A decision on the matter may be out this week.

GBP\/USD trades around 1.2100, as Brexit woes undermined demand for the Pound. The Labour party is willing to fight Prime Minister Boris Johnson over his Brexit legacy at the next election. The agreement created turmoil within the UK that exacerbates price pressures amid trade disruption. Entire industries in Germany could collapse due to natural-gas supply cuts from Moscow, according to Yasmin Fahimi, the country\u2019s top union official.

Commodity-linked currencies advanced against the greenback. USD\/CAD trades around 1.2860, while the AUD\/USD pair is now at 0.6860. The Reserve Bank of Australia will announce its monetary policy decision early on Tuesday and will surely revive volatility after a quiet Monday.

Also Read
<\/strong>RBA Expecteed To Hike Interest Amid Recession Fears<\/a><\/p>\n\n\n\n

BTC\/USD Struggles With Support Ahead Of FOMC Minutes<\/a><\/p>\n\n\n\n

Gold steadies in the quiet before the storm<\/a><\/p>\n\n\n\n

GBP\/USD flattened ahead of UK PMIs, US Factory Orders<\/a><\/p>\n\n\n\n

EUR\/USD Drops Toward 1.0400 On Independence Day Holiday<\/a><\/p>\n\n\n\n

Turkey\u2019s inflationary pressures would continue due to domestic, global factors<\/a> <\/p>\n\n\n\n

Scholz: Current crisis won\u2019t be over in a few months<\/a><\/p>\n\n\n\n

ECB\u2019s de Guindos: Elevated inflation will remain with us for some time<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Asian shares achieved shy gains, but European indexes maintained the green the territory with some difficulty, reflecting persistent growth and inflation concerns while Wall Street futures responded to such fears by edging lower.Financial markets witnessed a quiet start of the week, as US markets were closed commemorating the Independence Day Holiday. The dollar gathered some …<\/p>\n","protected":false},"author":13,"featured_media":52958,"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":[38,37,39,36],"tags":[7214,8724,6832,6928,6874,7184,7078,7201,9789],"class_list":["post-68071","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-global-stock-markets","category-market-updates","tag-biden","tag-biden-administration","tag-china","tag-euro","tag-gold","tag-tariff","tag-usd-chf","tag-usd-jpy","tag-wall-street-futures"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68071","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=68071"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68071\/revisions"}],"predecessor-version":[{"id":68078,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68071\/revisions\/68078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52958"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}