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Yen Strengthens on BoJ Hawkishness, DAX Drops Over 1% on Auto Earnings, Gold Stabilizes at $2,450.

By Research Team Thursday, Aug 1, 2024
USD/JPY

    • 11.30amD1
    • High150.3400
    • Low148.5000
    • Close147.7500

USD/JPY is trading at 149.86, 0.15% up since previous day close. BoJ have resulted in the Japanese Yen strengthening. According to the Ministry of Finance in Japan, ¥5.53 trillion was spent by officials in July, the value of the US dollar declined. Future US economic data, such as the weekly Initial Jobless Claims and the ISM Manufacturing PMI, which are scheduled for release later on Thursday, will be watched by traders for further clues. closest resistance of 1515.25 and nearest support of 148.

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Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 154.0000
R2 152.9300
R1 151.2500
Turnaround 150.0000
S1 148.3400
S2 146.6600
S3 146.0000
By Research Team Thursday, Aug 1, 2024
GER30

    • 11.35amD1
    • High18532.00
    • Low18258.00
    • Close18321.00

GER30 is trading at 18455, 0.35% down since previous day close. A global rally sparked by the U.S. Federal Reserve’s hint that it may ease in September was halted on, the DAX fell 1.2% to trade near the 18290 marks on Thursday, driven primarily by declines in the auto industry. BMW’s stock fell more than 4% after the carmaker revealed a decline in earnings due to lower sales in China and increased production costs. 18400 resistance is the closest support. 18580.

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Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 18900.00
R2 18750.00
R1 18580.00
Turnaround 18480.00
S1 18404.00
S2 18264.00
S3 18000.00
By Research Team Thursday, Aug 1, 2024
GOLD

    • 11.40amD1
    • High2458.00
    • Low2429.00
    • Close2431.00

XAU/USD is trading at 2447, 0.19% up since previous day close. On Thursday, gold (XAU/USD) traded near a two-week high achieved during the Asian session, moving between modest gains and slight losses in the $2,450 range. Despite earlier fluctuations due to Middle East tensions and a Fed rate cut, gold continues to rise. Investors are watching for potential movement towards a previous high of $2,480, with current support at $2,433 and resistance at $2,475.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2550.00
R2 2500.00
R1 2475.00
Turnaround 2440.00
S1 2433.00
S2 2407.00
S3 2385.00
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