Lagarde Delivers!

Issue Number: 9

Issue Pages: 29

Date: June 11, 2024

  • The Labor Market Saves USD
  • The Market Braces for the Fed
  • The Pound in Focus

ePlanet Times No.9 weekly forex newspaper 

As a comprehensive forex-based resource, ePlanet Times (weekly forex newspaper) enables you to understand and analyze price movements in the global markets. Through this weekly newspaper we strive to create a suitable medium for our traders to recognize factors affecting prices and to prepare them for the key events in the coming week. By providing unbiased opinions and analyses, ePlanet’s analytical team accompanies you towards more conscious and well-informed decisions for their trades.   

An Overview of ePlanet Times NO.9 “Lagarde Delivers”  

The ninth edition of ePlanet Times published every week, strives to guide all market participants and traders towards more conscious and profitable trading decisions by providing in depth analysis of the global financial markets. This edition focuses on the most influential developments of the previous week while presenting key events in the coming week with potential scenarios and their impacts on the global financial markets.  

Let’s begin with the Weekly Wrap-up. The ninth edition of ePlanet Times focuses on the recent central bank decisions and the overall economic situations globally. The past week saw central banks around the world grapple with inflation and economic growth. The European Central Bank finally cut interest rates after a two-year effort to curb inflation. The Bank of Canada also cut interest rates due to a decline in core inflation. However, strong wage growth data released later in the week cast doubt on the need for further rate cuts. 

Meanwhile, the Australian economy is facing headwinds as the first quarter of 2024 saw sluggish growth, coupled with high inflation and declining investment. This raises concerns for the Reserve Bank of Australia, which needs to balance inflation control with supporting economic activity.

The United States also had a busy week on the economic front. The dollar initially weakened on disappointing manufacturing data, but it rebounded sharply on Friday after a surprisingly strong jobs report. 

In the News Digest section, ePlanet Times brings the recent developments reported by reliable news sources or stated by influential figures into light. This edition was no different as it focused on recent forecasts from Morgan Stanley, Deutsche Bank and the IMF. 

Next week is believed to be as hectic as the first week of June since the Fed and the BOJ will both announce their interest rates and provide clues for their next steps. In the US the spotlight is on inflation data and the Federal Reserve’s interest rate decision. A weaker inflation report could lead to a weaker dollar, while a hawkish dot plot or press conference by Jerome Powell might have the opposite effect. In the UK, labor market data and GDP report will be released. A lower unemployment rate or higher wage growth could strengthen the pound.

On the other side of the world in Australia, Employment data is expected to show a decrease in the unemployment rate, potentially boosting the Australian dollar. However, the overall market sentiment will also play a role. 

The Bank of Japan’s policy decision is also a  key event. A hawkish stance from Governor Ueda could strengthen the yen, while a dovish approach might lead to further weakening. 

The economic analysis of the week, Written by Babak Farjad, focuses on Gold and its price tied to geopolitics, while the technical analysis of the week provides possible trading scenarios for symbols like CADJPY, EURNZD, USDCHF and GBPAUD. The weekly insight article, “The Battle of the Mind”, also provides crucial information about the importance of identifying “the illusion of expertise” to succeed as a trader. 

For a deeper dive into the reports and developments mentioned, we recommend exploring the ninth edition of ePlanet Times: “Lagarde Delivers”.