Leading financial service provider, easyMarkets,
has reported robust performance in Q2 2024, driven by high trading volumes in
Gold and Nasdaq. Gold prices increased by 20% compared to the same period last
year, attracting significant investor interest.

Predominant
Instruments and Assets

During
Q2 2024, Nasdaq
emerged as the predominant instrument attracting the highest trading volumes
among easyMarkets clients, with a 51% increase. This surge underscores its
continued relevance and appeal in the current market environment.

Main
Market Shifts: Crypto Trading Declines

With
the conclusion of the bull market came a significant 45% decrease in crypto trading volumes
compared to Q1. This shift indicates a strategic realignment by traders in
response to evolving market conditions.

Notable
Spikes and Crashes

In
Q2 2024, several instruments experienced remarkable price movements compared to
the same period last year, with a 125% surge in Cocoa,
a 20% increase in Gold
and a 6% appreciation in USDJPY.

Stable
Sector Activity and Central Bank Impact

Throughout
Q2, trading activity across sectors remained stable. Interest rate
announcements from central banks worldwide created volatility, boosting trading
volumes. However, the interest rate trajectories were largely anticipated,
resulting in no noticeable shift in market sentiment.

Expert Insight: Resilience and Adaptability

Thomas
Tsaloupis, Head of Risk Management at easyMarkets, commented on the quarter’s
performance, stating: „The second quarter of 2024 demonstrated our
clients‘ adeptness at navigating complex market environments. Despite the end
of the crypto bull market, the strategic focus on an instrument like Nasdaq
highlights their ability to adapt and capitalize on prevailing trends. Our
clients‘ engagement in intraday trading and sophisticated analysis techniques
speaks volumes about their commitment to informed trading decisions.“

As
we move into the second half of the year, easyMarkets remains committed to
providing our clients with the tools and insights needed to navigate the
evolving financial landscape successfully.

ABOUT easyMarkets

easyMarkets, founded in 2001, is an
award-winning global broker. One of the first to offer an online experience
with innovative risk management tools, including free guaranteed stop loss,
easyTrade, Freeze Rate, and dealCancellation, easyMarkets provides its sizeable
clientele with a streamlined, accessible, and flexible trading experience.
Offering over 275 tradeable instruments, tight fixed spreads, and 24/5
dedicated support to traders around the world, easyMarkets continues to
revolutionize the trading sector by providing unparalleled security and
safeguards for client funds and consistently prioritizing client commitment and
satisfaction.

This article was written by FL Contributors at www.forexlive.com.

Many forex traders have experienced positives from basic automated robots, but advanced ‚bots take profits to another level. This guide explains powerful algorithms and strategies and how combining top automated solutions boosts success.

Automated trading evolves quickly. Staying ahead requires studying advanced integration and regularly updating technology. With discipline and focus on improvement, you gain an edge in any market.

Harness Technology for Deeper Insights

As computers become smarter, advanced programs rapidly analyze bigger data. Volatility trading takes precision impossible without assistance. Pair top-tier platforms harnessing cloud power for lightning-fast processing.

These platforms apply cutting-edge technologies like machine learning and neural networks. Powerful algorithms like Orexbot forex robot identify weak correlations invisible to humans or traditional robots. Advanced integration extracts layered patterns driving currency movements.

Machine Learning

Machine learning algorithms improve through experience versus programming. They learn from new data versus static rules, giving a dynamic, adaptive edge.

Neural Networks

Neural networks mimic the human brain, improving performance exponentially compared to traditional algorithms. They continuously learn from nuanced market factors.

Genetic Algorithms

Genetic algorithms operate on principles of natural selection and survival of the fittest. They evolve sophisticated strategies optimized for any market condition.

Develop Strategies for Any Environment

Advanced programs test unlimited strategy variations through evolutionary algorithms. This identifies optimal combinations adapting to shifting conditions faster than humanly possible.

Backtesting spans decades of minute-by-minute data versus standard weekly/monthly resolutions. Subtle signals appear proving profitable over many timeframes. Results pinpoint stronger trade entries and reduces drawdowns.

Multiple Timeframe Analysis

Aggregating signals from second to monthly charts reveals deep patterns. Blended indicators identify divergences across scales for well-timed trades.

Sentiment Analysis

Advanced robots analyze social media, news and forum sentiment affecting markets. They quantify influencers and crowd emotions, integrating „heat maps“ into strategies.

Continuously Refine Strategies

The best traders continuously learn, focused on long-term improvement. Identify valuable optimizations through paper trading and cutting-edge programs.

Genetic Strategy Programming

Genetic programming tools allow visually programming and backtesting unlimited variations. Automated processes test millions of combinations, selecting the strongest for live refinement.

Real-Time Strategy Optimization

Top platforms constantly monitor trades, automatically optimizing parameters and stoplosses based on ongoing performance. Strategies evolve self-sufficiently without reprogramming.

Automated Testing Facilities

Web-based testing environments run unlimited backtests simultaneously in the cloud. Automated reports analyze millions of simulations, identifying subtle tweaks enhancing profits.

Balance Risks Between Manual and Automated Strategies

Advanced automated techniques carry risk from undiscovered drawdowns or market shifts. Balance this by also applying tried-and-true manual strategies as a hedge against technology risks.

Diversifying sources of potential profit smooths drawdown effects while testing innovations. For example, manually trading breakouts during low-volatility provides downside protection if automated strategies enter choppy periods.

Stagger Automated Strategy Deployments

Rather than deploying all capital behind new strategies simultaneously, implement them gradually using small position sizes over several months.

This reduces exposure if initial backtests don’t translate perfectly, and allows making adjustments before larger commitment. Staggering also identifies strengths and weaknesses sooner at smaller risk.

Continually Monitor Live Trades

Despite rigorous backtesting, unexpected market nuances may affect performance differently live. Advanced systems require time commitments to monitor trades, update profitable strategies, and identify issues early.

Periodic reviews comparing expectations to reality helps focus refinement efforts on live optimization versus constantly reworking strategies from scratch. Combining trading savvy with technology keeps automated investments flowing smoothly.

In Summary

Advanced automated forex robots using cutting-edge technology streamline volatility trading. Combining powerful algorithms enhances strategies adapted for any market. Continuous self-optimization keeps you ahead of constantly-shifting conditions. With diligent research and practice, automation evolves your trading exponentially.

This article was written by FL Contributors at www.forexlive.com.

Here’s a snapshot of things:

• S&P 500 futures -3.0%
• Nasdaq futures -4.6%
• Dow futures -2.1%
• Russell 2000 futures -5.3%

At one point, Nasdaq futures were down over 6% so the rout in tech shares is at least not getting much worse for now. It’s a full-fledged flight to safety mode with traders chasing the usual safe havens. Bonds are bid and so is the Japanese yen and Swiss franc. Besides that, it’s pretty much a sell everything else case in broader markets to start the week.

From earlier:

• Japan’s Nikkei closes down by a whopping 12% to its lowest since November last year
• Volatility is back with a bang
• From soft landing to crash landing
• Poll: Is the Fed behind the curve on cutting interest rates?
• A reminder of the one thing that traders have been getting wrong since last year

This article was written by Justin Low at www.forexlive.com.

The VIX has more than doubled in value today, rising to hit the 50.00 mark now. That’s the highest level since the pandemic and this is the biggest daily jump since February 2018, when there was the whole fiasco involving the XIV and a broader market selloff amid a rout in the bond market at the time.

In any case, the heightened reading we’re seeing above speaks to the fear and angst that is gripping markets right now. For a while there, it looked like we might’ve settled into a period of low volatility. The VIX had before this touch its lowest since before the pandemic as investors were feeling rather confident about broader market sentiment.

How quickly the tables have turned in just one week, eh?

Emotions are running high now and this is a testament to that. The rout in equities will stop when it stops. However, the renewed volatility means that it will at least take a while for the nerves to settle down again. As for market players, it means needing some time to regain their grit and vigour in the short-term.

That translates to a likelihood that we’ll see a more bumpy road in equities moving forward. At least definitely not the one-way traffic in the first seven months this year.

This article was written by Justin Low at www.forexlive.com.

Fundamental
Overview

At one point it looked like the worst was behind us as the S&P 500 rallied
almost 3% on a single day following the BoJ and FOMC decisions.
Unfortunately, the following day we got an ugly US ISM Manufacturing PMI which sent the market
into risk-off and defensive positioning into the US NFP report.

The US Jobs report didn’t help as the data
surprised to the downside with unemployment jumping to a totally unexpected
4.3% rate. The losses extended and eventually we got a strong overnight selloff
today due to spillover effects as the Nikkei crashed 12% in a single day.

The market is now pricing in 125 bps of easing by year-end which translates
into a 50 bps cut in both September and November, and a 25 bps cut in December.
The market is even seeing small chances of an inter-meeting cut. Things are
moving quickly.

S&P 500
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that the S&P 500 broke through the major trendline around the 5435 level where we had
also the 38.2% Fibonacci retracement level for confluence. The sellers piled in more
aggressively as the buyers folded. We are now seeing a bounce on a previous
swing low level around the 5200 level.

This is where we can expect
the buyers to step in with a defined risk below the level to position for a
rally into the 5400 level. The sellers, on the other hand, will want to see the
price breaking lower to increase the bearish bets into the 5000 level next.

S&P 500 Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that we got a fakeout last week when the price broke above the 5540
resistance and then dropped back below it as the US ISM Manufacturing PMI
missed expectations by a big margin. There’s not much else we can glean from
this timeframe as the buyers will just look for a bigger bounce, while the
sellers will look for a break below the 5200 level to extend the drop.

S&P 500 Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have a minor downward trendline defining the current bearish
momentum. The buyers will want to see the price breaking higher to increase the
bullish bets into the 5400 level, while the sellers will likely keep on leaning
on it to position for a break below the 5200 level. The red lines define the average daily range for today.

Upcoming
Catalysts

This week is basically empty on the data front. Today we have the US ISM Services
PMI and on Thursday we get the latest US Jobless Claims figures. The market
will also pay close attention to Fed members’ comments given the latest
developments.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

• Prior -0.2%

Looking at the breakdown, there was an increase in prices for intermediate goods (+0.1%), energy (+1.6%), capital goods (+0.1%), and non-durable consumer goods (+0.1%). The price for durable consumer goods was stable on the month. If you strip out energy prices though, the prices for the total industry would’ve only reflected a 0.1% increase in June.

This article was written by Justin Low at www.forexlive.com.

Rate cuts by year-end

• Fed: 125 bps (96% probability of 50 bps rate cut at the upcoming meeting)
• ECB: 75 bps (97% probability of rate cut at the upcoming meeting)
• BoE: 53 bps (57% probability of no change at the upcoming meeting)
• BoC: 80 bps (77% probability of rate cut at the upcoming meeting)
• RBA: 46 bps (84% probability of no change at the upcoming meeting)
• RBNZ: 63 bps (64% probability of no change at the upcoming meeting)
• SNB: 48 bps (90% probability of rate cut at the upcoming meeting)

Rate hikes by year-end

• BoJ: 3 bps (98% probability of no change at the upcoming meeting)

(This is an extraordinary update as things are moving very quickly and expectations are liable to big swings in both directions depending on the next developments)

This article was written by Giuseppe Dellamotta at www.forexlive.com.

UPCOMING
EVENTS:

• Monday: China Caixin Services PMI, Eurozone PPI, US ISM
  Services PMI, Fed’s SLOOS.
• Tuesday: Japan Average Cash Earnings, RBA Policy Decision,
  Swiss Unemployment Rate and Retail Sales, Eurozone Retail Sales, Canada
  Services PMI.
• Wednesday: New Zealand Labour Market report, BoC Minutes.
• Thursday: BoJ Summary of Opinions, US Jobless Claims.
• Friday: China CPI, Canada Labour Market report.

Monday

The US ISM
Services PMI is expected at 51.0 vs. 48.8 prior. This survey hasn’t been giving
any clear signal lately as it’s just been ranging since 2022. The latest S&P Global US Services
PMI rose to the
highest level in 28 months. The good news in the report was that “the rate of
increase of average prices charged for goods and services has slowed further, dropping
to a level consistent with the Fed’s 2% target”.

The bad news was
that “both manufacturers and service providers reported heightened
uncertainty around the election, which is dampening investment and hiring. In
terms of inflation, the July survey saw input costs rise at an increased rate,
linked to rising raw material, shipping and labour costs. These higher costs
could feed through to higher selling prices if sustained or cause a squeeze
on margins.”

Tuesday

The Japanese
Average Cash Earnings Y/Y is expected at 2.3% vs. 1.9% prior. As a reminder,
the BoJ hiked interest rates by 15 bps at the last meeting and Governor Ueda
said that more rate hikes could follow if the data supports such a move.
The economic indicators they are focusing on are: wages, inflation, service
prices and the GDP gap.

The RBA is
expected to keep the Cash Rate unchanged at 4.35%. The RBA has been maintaining
a hawkish tone due to the stickiness in inflation and the market at times even priced
in high chances of a rate hike. The latest Australian Q2 CPI quelled those expectations as we saw misses across
the board and the market (of course) started to see chances of rate cuts, with now 32 bps of easing seen by year-end (the
increase on Friday was due to the soft US NFP report).

Wednesday

The New Zealand
Unemployment Rate is expected to jump to 4.7% vs. 4.3% prior with Job Growth
Q/Q seen at -0.3% vs. -0.2% prior. The Labour Cost Index Y/Y is expected at
3.5% vs. 3.8% prior, while the Q/Q measure is seen at 0.8% vs. 0.8% prior. The
labour market has been softening steadily in New Zealand and that remains
one of the main reasons why the market continues to expect rate cuts coming
much sooner than the RBNZ’s forecasts.

Thursday

The US Jobless
Claims continue to be one of the most important releases to follow every week
as it’s a timelier indicator on the state of the labour market. This
particular release will be crucial as it lands in a very worried market after
the Friday’s soft US jobs data.

Initial Claims
remain inside the 200K-260K range created since 2022, although they’ve been
climbing towards the upper bound lately. Continuing Claims, on the other hand,
have been on a sustained rise and we saw another cycle high last week.

This week Initial
Claims are expected at 250K vs. 249K prior, while there’s no consensus for
Continuing Claims at the time of writing although the prior release saw an
increase to 1877K vs. 1844K prior.

Friday

The Canadian
Labour Market report is expected to show 25K jobs added in July vs. -1.4K prior
and the Unemployment Rate to remain unchanged at 6.4%. As a reminder, the BoC
cut interest rates to 4.50% at the last meeting and signalled further rate cuts
ahead. The market is pricing 80 bps of easing by year-end.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

In this video, I take a technical look at the major currency pairs vs the USD. As a bonus, I also take a look at the 2 major stock indices as traders prepare for the new week.

Including (along with the time on the video):

• EURUSD 0:15
• USDJPY 2:15
• GBPUSD 3:38
• USDCHF 5:25
• USDCAD 6:37
• AUDUSD 7:47
• NZDUSD 9:18
• S&P 10:21
• NASDAQ 11:39

I not only show the key levels for the new trading week, but also explain why they are so important for traders.

Kickstart the new trading week by understanding the roadmap for the new trading week. It is that simple.

This article was written by Greg Michalowski at www.forexlive.com.

• How reflexive is the economy to the stock market?
• What will be the main earnings releases for the week starting August 5
• Goolsbee: If inflation and the job market continue cool, the Fed should cut
• Kamala Harris crosses threshold to become Democratic nominee
• Baker Hughes US oil rig count unchanged
• Fed’s Goolsbee: The job of a central bank is to move in a steady way
• Fed’s Goolsbee and Barkin set to speak on TV
• Fed’s Barkin not ready to embrace 50 bps cut debate, says +114K jobs is ‚reasonable‘
• JPMorgan joins the 50 basis point cut call
• Citigroup forecasts 50 basis point cuts in September and November
• Goldman Sachs now sees three consecutive Fed rate cuts this year
• US June factory orders -3.3% vs -2.9% expected
• Kickstart the FX trading day for Aug 2 w/a technical look at the EURUSD, USDJPY & GBPUSD
• US July non-farm payrolls +114K vs +175K expected
• The JPY is the strongest and the GBP is the weakest as the NA session begins
• ForexLive European FX news wrap: Risk selloff holds ahead of US jobs report

Coming off some eye-opening earnings/revenue numbers from Amazon after the close (lower revenues and rumblings of a slower consumer), and a day yesterday where there was a string of bad news, the markets got another dose of „weak“ today in the US jobs report.

The July 2024 US non-farm payrolls report revealed an increase of only 114,000 jobs, significantly below the expected 175,000. The previous month’s figure was revised down from 206,000 to 179,000. The unemployment rate rose to 4.3% from the expected 4.1%, with the unrounded rate at 4.252%. The labor force participation rate slightly increased to 62.7%, and the U6 underemployment rate rose to 7.8% from 7.4%. Average hourly earnings grew by a lower 0.2% month-over-month, falling short of the 0.3% expectation, and increased by 3.6% year-over-year. Average weekly hours decreased to 34.2 from the anticipated 34.3. Private payrolls saw a rise of 97,000, below the expected 148,000, while manufacturing payrolls grew by 1,000, against the forecasted decline of 1,000. The household survey reported an increase of 67,000 jobs, and government jobs rose by 17,000.

Sector-wise, health care continued to add jobs (+55,000), while the information sector lost -20,000 jobs. Government employment showed little change after previous significant gains. Despite Hurricane Beryl, there was no discernible effect on national employment and unemployment data, though temporary layoffs increased by 249,000 to 1.1 million. This could indicate that the rise in unemployment might not be as severe as it appears.

The weaker data, gave the bond traders the go-ahead to do what the Fed did not do this week when the chose to keep rates unchanged (but left the door open for a September cut)

Following the report,

• US 2-year yields fell from 4.11% to a low of 3.845%. The current yield is 3.881%, down -28.3 basis points. For the week the 2 year is down -50 basis points. That was the largest 1-week decline since March 2023
• US 10 year yield fell from 3.941% % to a low intraday of 3.787%. The current yield is at 3.797%. For the week, the 10 year yield is down -39.4 basis points. That is the largest 1-week decline since July 2011 when yields fell -54 basis points.
• US 30-year yield fell from 4.24% to a low of 4.10%. For the week, the yield is down -33.9 basis points for the week.

The 10 year yield is now down -95.2 basis points from its high during the week of April 22. US mortgage rates, reached a peak in April at 7.22%. The rate on August 1 was 6.73% down -49 basis points. What will it be after the -18 basis point decline in the 10 year yield today?

The debt market is doing the Fed’s work for them, what has the market now priced in?

At the start of the day, there was a 30% chance for 50 basis points at the September meeting. Now the market is pricing in an 80% chance for 50 basis points. The expected cuts by January 5th is 5 cuts or 127 basis points of cuts. By June 2025, the market is pricing in 8 cuts or -242 basis point cut.

Meanwhile, not only is the job growth slowing but the stock market decline is taking money out of consumers pockets. The US major indices had another rough day with the:

• Dow Industrial Average falling -1.51%. For the week the index fell -2.10%.
• S&P index-1.84%, and for the week -2.06%
• NASDAQ index fell -2.43%, and for the week -3.35%. The last three weeks have seen the Nozick index for -3.65% -2.08%, and -3.35%.
• Small-cap Russell 2000 fell -3.52% in -6.67% for the week

Amazon shares fell -8.78%, Google fell -2.40%, Microsoft fell -2.07%, Nvidia fell -1.78%. Apple but the trend with a gain of 0.69% after better-than-expected earnings after the close yesterday

In the forex market today, the USD is ending as the weakest of the major currencies with the USDJPY falling -1.88% and the USDCHF falling 1.58%. The USD also lost -1.12% vs the EUR and -0.55% vs the GBP.

The JPY and the CHF were the strongest of the major currencies as the flow of funds moved into those „safe haven“ currencies.

For a technical look at the major currency pairs vs the USD see the weekend video below where I take a look at all the major currencies from a technical perspective and a bonus technical look at the S&P and the Nasdaq after their sharpl declines today/this week:

Thank you for your support. Wishing you a happy and safe weekend.

This article was written by Greg Michalowski at www.forexlive.com.