Today’s forex newsletter is packed with intriguing insights and updates you won’t want to miss!
China’s Trade Shifts: Exports Rise, Imports Drop, and Economic Reforms Loom
China’s trade sees notable fluctuations: exports grew 6.7%, though slower than last month’s 12.7%, while imports plunged 3.3%, the sharpest drop since September 2023. Exports to the US and Europe increased, highlighting strong global demand. Domestic challenges like weak consumption and sluggish real estate weighed on imports. However, a rise in crude oil imports, linked to growing vehicle sales, signals potential economic recovery. With fiscal policy reforms ahead, China may boost growth and impact global markets in 2024.
DXY
Buy above 106.100
Stop loss below 105.900
Target 106.300–106.500
XAUUSD
Buy on dip around 2670
Stop loss below 2660
Target 2680–2690
XAGUSD ( Yesterday given Buy above 31.73 all target done)
Buy above 32.00
Stop loss below 31.70
Target 32.30–32.60
USOIL ( Yesterday given Buy above 68.16 first target done)
Buy around 67.90
Stop loss below 67.60
Target 68.20–68.50
COPPER (HG1)
Sell around 4.2500
Stop loss above 4.2650
Target 4.2350–4.2200
NASDAQ
Buy around 21525
Stop loss below 24425
Target 21625–21725
S&P 500 E-Mini
Buy around 6066
Stop loss below 6056
Target 6076–6086
Top pick ( Yesterday given USDCHF Buy above 0.87900 all target done)
USDCHF
Buy above 0.88100
Stop loss below 0.87900
Target 0.88300–0.88500
That’s all for today’s forex newsletter.
Until then, Happy Trading!
Commodity Samachar Securities
We Decode the Language of the Markets
Also Read: Silver Prices Jump 3%: What’s the Reason Behind It?
Recommended Read:Â 2024 G20 Summit: Did It Deliver on Market Expectations?
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