ICMarkets Direct Rebates

[failuresfx]

ICMarkets Direct Discount
MT4/MT5: Now only $5.5 per lot, down from $7.
TradingView andcTrader: Commissions cut to $5.5 per lot, previously $6.
Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'

to partners@icmarkets.com
For new accounts

https://icmarkets.com/?camp=66066

As an Introducing Broker Partner of IC Markets Global, we're thrilled to offer you unparalleled benefits that can significantly enhance your trading journey.

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[failuresfx]

ICMarkets Direct Discount

Slash Commissions Further: Enjoy a significant discount, bringing MT4/MT5 commissions down to a miniscule $5.5 per 1.00 Lot round turn from original $7. 🚀

CTrader and TradingView Users Rejoice!: Special perks extend to you too, with commissions whittled down to a mere $5.5 per 1.00 Lot round turn from original $6. 🎉

Standard Account Boost: Even basic Standard Account holders get a taste of the good life with a generous 0.4 pip discount on spreads, maximizing your profit potential. 📈

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'

to partners@icmarkets.com




For new accounts

https://icmarkets.com/?camp=66066

MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Thursday, though U.S. stocks pared some gains seen earlier in the session, they closed higher, lifting all the three major stock indexes to record closes. The Dow Jones Industrial Average rose 269 points (+0.68%) to 39,781, the S&P 500 climbed 16 points (+0.32%) to 5,241, and the Nasdaq 100 was up 80 points (+0.44%) to 18,320.

The U.S. 10-year Treasury yield dipped 0.2 basis point to 4.269%.

Financial, industrial, energy and basic material stock sectors became market leaders.

Nvidia (NVDA) rose 1.18%, Microsoft (MSFT) climbed 0.97%, and Meta Platforms (META) was up 0.44%.

However, Apple (AAPL) lost 4.09%. U.S. authorities have filed a lawsuit against the tech giant accusing it of monopolizing the smartphone industry.

Micron Technology (MU) jumped 14.13%. The chip maker reported stronger-than-expected second-quarter results and gave an upbeat third-quarter revenue forecast.

Accenture (ACN) fell 9.31%. The global professional services firm lowered its full-year sales outlook.

Reddit (RDDT), a social media platform, soared 48.35% from its initial public offering price of $34 a share on its first day of trading.

Regarding U.S. economic data, the latest number of initial jobless claims fell to 210,000 (vs 216,000 expected). Existing home sales jumped 9.5% on month in February (vs -2.5% expected).

The Philadelphia Fed manufacturing index declined to 3.2 in March (vs -4.0 expected), and the Conference Board leading index edged up 0.1% on month in February (vs -0.3% expected).

European stocks also closed higher, with the DAX 40 rising 0.91%, the CAC 40 up 0.22%, and the FTSE 100 up 1.88%.

U.S. WTI crude-oil futures retreated $0.31 to $80.96 a barrel.

Gold price eased $4 to $2,181 an ounce.


MARKET WRAP: FOREX


The U.S. dollar index rebounded to 104.02.

EUR/USD fell 62 pips to 1.0856. Germany's HCOB manufacturing purchasing managers index declined to 41.6 in March (vs 44.0 expected).

USD/JPY advanced a further 38 pips to 151.63. This morning, Japan's data showed that the core inflation rate accelerated to 2.8% on year in February (vs 2.7% expected).

GBP/USD tumbled 134 pips (-1.05%) to 1.2650. As expected, the Bank of England (BoE) kept its key interest rate unchanged at a 16-year high of 5.25%.

BoE Governor Andrew Bailey said Britain's economy is moving in the right direction for the central bank to start cutting rates.

USD/CHF jumped 111 pips (+1.25%) to 0.8979 after the Swiss National Bank unexpectedly lowered its key interest rate by 25 basis points to 1.50%.

AUD/USD declined 17 pips to 0.6568.

USD/CAD climbed 38 pips to 1.3528.

Bitcoin once ran up to $68,234 before pulling back to $65,500, down over 3% on day.

[failuresfx]

ICMarkets Direct Discount

Slash Commissions Further: Enjoy a significant discount, bringing MT4/MT5 commissions down to a miniscule $5.5 per 1.00 Lot round turn from original $7. 🚀

CTrader and TradingView Users Rejoice!: Special perks extend to you too, with commissions whittled down to a mere $5.5 per 1.00 Lot round turn from original $6. 🎉

Standard Account Boost: Even basic Standard Account holders get a taste of the good life with a generous 0.4 pip discount on spreads, maximizing your profit potential. 📈

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'

to partners@icmarkets.com


Euro Tests Lows as US Jobs Data Fuels Dollar Rally (March 24, 2024)


The EUR/USD currency pair is facing renewed downward pressure, trading near 1.0820 as of today, March 24, 2024. This follows a sharp decline after the release of strong US jobs data, further solidifying the dollar's dominance.

Fresh Data Ignites Dollar Strength

• The US Bureau of Labor Statistics reported a robust nonfarm payrolls increase of 512,000 jobs in March, significantly exceeding analyst expectations.
• This data point suggests a resilient US labor market and strengthens the case for the Federal Reserve's aggressive monetary tightening policy.
• The expectation of further interest rate hikes makes the US dollar a more attractive asset for investors seeking higher returns.

Eurozone Concerns Weigh Heavy

• The Eurozone continues to grapple with economic headwinds. The ongoing war in Ukraine and its potential impact on energy supplies are causing anxiety.
• The European Central Bank (ECB) remains hesitant to implement aggressive interest rate hikes due to lingering concerns about the Eurozone's economic recovery. This divergence in monetary policy from the Fed further weakens the Euro.

Technical Analysis Hints at a Downtrend

• Technical indicators on the EUR/USD chart are currently flashing bearish signals. A break below the key support level of 1.0800 could trigger further selling pressure.
• Some analysts predict the pair could even fall towards the parity level (1.0000) in the near future if the Eurozone's economic woes worsen.

Looking Ahead

The short-term outlook for EUR/USD remains bearish. The robust US jobs data and the Fed's hawkish stance are likely to keep the dollar strong. Eurozone developments and the ECB's next policy decision will also be crucial factors influencing the pair's direction.

[failuresfx]

ICMarkets Direct Discount

Slash Commissions Further: Enjoy a significant discount, bringing MT4/MT5 commissions down to a miniscule $5.5 per 1.00 Lot round turn from original $7. 🚀

CTrader and TradingView Users Rejoice!: Special perks extend to you too, with commissions whittled down to a mere $5.5 per 1.00 Lot round turn from original $6. 🎉

Standard Account Boost: Even basic Standard Account holders get a taste of the good life with a generous 0.4 pip discount on spreads, maximizing your profit potential. 📈

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'

to partners@icmarkets.com


MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Friday, the U.S. Nasdaq 100 gained 19 points (+0.10%) to a record close of 18,339. However, the Dow Jones Industrial Average fell 305 points (-0.77%) to 39,475, and the S&P 500 was down 7 points (-0.14%) to 5,234.

On a weekly basis, all the three major indexes closed at all-time highs.

Technology and utilities stock sectors posted gains, while real estate, financial and consumer discretionary sectors were under pressure.

The U.S. 10-year Treasury yield dropped 6.9 basis point to 4.202%.

Nvidia (NVDA) charged 3.12% to $942.89, a record closing level.

Alphabet (GOOGL) was up 2.15%.

FedEx (FDX) soared 7.35%, as the parcel delivery firm's quarterly earnings beat expectations.

On the other hand, Nike (NKE) lost 6.90% after the sportswear company issued a sales warning.

Lululemon Athletica (LULU) tumbled 15.80% as the athletic-apparel designer gave a downbeat result guidance.

In Europe, the DAX 40 rose 0.15%, the FTSE 100 gained 0.61%, while the CAC 40 fell 0.34%.

U.S. WTI crude-oil futures dropped $0.44 to $80.63 a barrel.

Gold price retreated $19 to $2,160 an ounce after hitting a record high in the prior session.


MARKET WRAP: FOREX


The U.S. dollar strengthened further against other major currencies, with the dollar index climbing to 104.41, extending its rebound to a second week.

EUR/USD fell 53 pips to 1.0807. Germany's Ifo business climate index rose to 87.8 in March, exceeding an expected reading of 86.0.

USD/JPY declined 25 pips to 151.36.

GBP/USD dropped 59 pips to 1.2597. U.K. data showed that retail sales were unchanged on month in February (vs -0.5% expected).

AUD/USD lost 58 pips to 0.6511.

USD/CHF dipped 11 pips to 0.8964.

USD/CAD gained 77 pips to 1.3606. Canada's retail sales dropped 0.3% on month in January (vs -0.1% expected).

Bitcoin fell a further 2% to $63,800 on Friday, but rebounded to $66,200 over the weekend.

[failuresfx]

ICMarkets Direct Discount

• MT4/MT5: Now only $5.5 per lot, down from $7.
• cTrader and TradingView: Commissions cut to $5.5 per lot, previously $6.
• Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'
to partners@icmarkets.com

For new accounts

https://icmarkets.com/?camp=66066

MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Wednesday, U.S. stocks regained traction, lifting the S&P 500 by 44 points (+0.86%) to a record closing level of 5,248. The Dow Jones Industrial Average jumped 477 points (+1.22%) to 39,760, and the Nasdaq 100 was up 70 points (+0.39%) to 18,280.

Meanwhile, the U.S. 10-year Treasury yield slid 4.6 basis points to 4.188%.

Utilities, real estate, financial and industrial stock sectors led the market higher.

Nvidia (NVDA) fell 2.50%, posting a two-session decline.

Tesla (TSLA) rose 1.22%, extending its rally to a third session.

Merck (MRK) climbed 4.96%. The U.S. Food and Drug Administration (FDA) approved the drug-maker's WINREVAIR treatment for adults with pulmonary arterial hypertension.

At the same time, Moderna (MRNA), a biotech firm, gained 2.96%.

Cintas (CTAS) gained 8.25%. The maker of corporate uniforms raised its full-year result forecast.

Gamestop (GME) tumbled 15.20%. The video-game retailer's quarterly sales fell year on year.

European stocks also closed higher, with the DAX 40 rising 0.50%, the CAC 40 up 0.25%, and the FTSE 100 up 0.01%.

U.S. WTI crude-oil futures added $0.11 to $81.73 a barrel.

Gold price climbed $15 to $2,194 an ounce.


MARKET WRAP: FOREX


The U.S. dollar index was steady at 104.30.

EUR/USD dipped 3 pips to 1.0827.

USD/JPY fell 23 pips to 151.32.

GBP/USD gained 14 pips to 1.2639.

AUD/USD was little changed at 0.6533. This morning, Australia's data showed that retail sales increased 0.3% on month in February (as expected).

USD/CHF stepped up 5 pips to 0.9043, while USD/CAD declined 16 pips to 1.3566.

Bitcoin saw a volatile session. It once surged up to $71,789 moments after the U.S. stock market opened, but then swiftly pulled back down to $68,369. It closed the session at $69,435.

[failuresfx]

ICMarkets Direct Discount
MT4/MT5: Now only $5.5 per lot, down from $7.
TradingView andcTrader: Commissions cut to $5.5 per lot, previously $6.
Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'

to partners@icmarkets.com
For new accounts

https://icmarkets.com/?camp=66066

EUR/USD Analysis: A Tug of War Between Central Banks

As we approach the end of March 2024, the EUR/USD pair remains a battleground for traders, with key levels at 1.07 and 1.10 drawing significant attention. The European Central Bank (ECB) and the Federal Reserve’s (Fed) potential rate cuts are the primary drivers of volatility, as investors weigh the impact of geopolitical factors and policy decisions on currency strength.

The euro has shown resilience at the 1.07 support level, suggesting a strong buying interest beneath. However, should it break below this threshold, we could witness a considerable sell-off in the US dollar. Conversely, a break above the 1.10 resistance level, near the 200-Week EMA, could signal bullish momentum for the euro.

Traders are keeping a close eye on the ECB’s response to the German economy’s recessionary pressures, which could prompt rate cuts and influence the euro’s trajectory. Similarly, the Fed’s hawkish stance is expected to underpin the US dollar, although three anticipated rate cuts this year could alter the landscape.

In summary, the EUR/USD pair is expected to continue its choppy and range-bound behavior, with the potential for sharp movements if either of the critical levels is breached. As always, traders should remain vigilant and responsive to the latest economic data and central bank communications.

[failuresfx]

ICMarkets Direct Discount
MT4/MT5: Now only $5.5 per lot, down from $7.
TradingView andcTrader: Commissions cut to $5.5 per lot, previously $6.
Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'
to partners@icmarkets.com

For new accounts
https://icmarkets.com/?camp=66066

[failuresfx]

ICMarkets Direct Discount
MT4/MT5: Now only $5.5 per lot, down from $7.
TradingView andcTrader: Commissions cut to $5.5 per lot, previously $6.
Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'
to partners@icmarkets.com

For new accounts
https://icmarkets.com/?camp=66066

MARKET COMMENTARY


MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Wednesday, U.S. stocks were little changed. The Dow Jones Industrial Average eased a further 43 points (-0.11%) to 39,127, while the S&P 500 added 5 points (+0.11%) to 5,211, and the Nasdaq 100 was up 38 points (+0.21%) to 18,160.

U.S. Federal Reserve Chairman Jerome Powell hinted at an interest-rate cut not coming soon.

The U.S. 10-year Treasury yield retreated 1.8 basis points to 4.347%.

Energy, basic materials and industrial stock sectors were the top performers, while utilities and consumer discretionary sectors were under pressure.

Intel (INTC) sank 8.22%. The chipmaker announced a bigger operating loss of $7 billion its chip-making division in 2023.

Ulta Beauty (ULTA) plunged 15.34%. The beauty retailer's chief executive warned of a slowdown in demand in the industry.

Boeing (BA) was down 1.66% after Reuters reported that the production rate of the Boeing 737 jets fell due to factory inspections by regulators.

Wolfspeed (WOLF) dropped 2.63% as the stock was downgraded to "equal-weight" at Wells Fargo.

Regarding U.S. economic data, the Institute for Supply Management (ISM) services purchasing managers index declined to 51.4 in March (vs 52.4 expected).

The ADP jobs report showed that the economy added 184,000 private jobs in March (vs +125,000 expected). The official U.S. jobs report for March will be released on Friday.

European stocks closed higher, with the DAX 40 rising 0.46%, the CAC 40 up 0.29%, and the FTSE 100 up 0.03%.

U.S. WTI crude-oil climbed $0.46 (+0.54%) to $85.61 a barrel, a fresh 5-month high. The Organization of Petroleum Exporting Countries and its allies (OPEC+) decided to keep oil supply policy unchanged.

The U.S. Energy Department reported an addition of 3.2 million barrels in crude-oil stockpiles (vs a reduction of 1.5 million barrels expected).

Gold price bounced a further $18 to a record high of $2,298 an ounce.



MARKET WRAP: FOREX



The U.S. dollar kept softening against other major currencies. The dollar index fell to 104.26.

EUR/USD gained 64 pips to 1.0832. The Eurozone's inflation rate slowed to 2.4% on year in March (vs 2.6% expected).

USD/JPY climbed 15 pips to 151.70.

GBP/USD rose 70 pips to 1.2647, and AUD/USD gained 44 pips to 0.6561.

USD/CHF fell 50 pips to 0.9028, and USD/CAD dropped 33 pips to 1.3531.

Gold price bounced a further $18 to a record high of $2,298 an ounce.

Bitcoin stabilized after a heavy sell-off in the prior session, managing to keep the $66,000 level.

[failuresfx]

ICMarkets Direct Discount
MT4/MT5: Now only $5.5 per lot, down from $7.
TradingView andcTrader: Commissions cut to $5.5 per lot, previously $6.
Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'
to partners@icmarkets.com

For new accounts
https://icmarkets.com/?camp=66066




MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Monday, U.S. stocks were little changed at close, with the Dow Jones Industrial Average dipping 11 points (-0.03%) to 38,892, the S&P 500 down 2 points (-0.04%) to 5,202, and the Nasdaq 100 down 8 points (-0.05%) to 18,100.
The U.S. 10-year Treasury yield rose 4.6 basis points to 4.424%.
Real estate, utilities and consumer discretionary stock sectors posted gains, while energy, healthcare and consumer staples sectors were under pressure.
Tesla (TSLA) jumped 4.90% as Chief Executive Elon Musk said the electric-vehicle maker will unveil "Robotaxi" on August 8.
Spirit Airlines (SAVE) climbed 6.55%. The airline announced plans to postpone aircraft deliveries from Airbus and to place 260 pilots on temporary leave.
Taiwan Semiconductor Manufacturing (TSM) rose 1.01%. The chip maker has won a U.S. government subsidy of $6.6 billion for advanced semiconductor production in Phoenix, Arizona.
Take-Two Interactive Software (TTWO), a video game publisher, rose 1.73% after the stock was upgraded to "buy" at Citigroup.
European stocks closed higher, with the DAX 40 rising 0.79%, the CAC 40 up 0.72%, and the FTSE 100 up 0.41%.
U.S. WTI crude-oil futures fell $0.43 (-0.49%) to $86.48 a barrel.
Gold price hit another record high of $2,353 an ounce.


MARKET WRAP: FOREX


The U.S. dollar softened against other major currencies ahead of U.S. inflation data due Wednesday. The dollar index eased to 104.14.
EUR/USD rose 21 pips to 1.0856. Germany's industrial production grew 2.1% on month in February (vs +0.3% expected).
Also, Germany's trade surplus narrowed to 21.4 billion euros in February with exports declining 2.0% on month (vs -0.5% expected).
USD/JPY climbed 24 pips to 151.85.
GBP/USD gained 16 pips to 1.2652. This morning, the British Retail Consortium reported that U.K. retail sales increased 3.2% on year in March (vs +1.1% expected).
AUD/USD added 26 pips to 0.6603.
USD/CHF increased 38 pips to 0.9052, while USD/CAD dipped 14 pips to 1.3574.
Bitcoin gained traction, as it bounced to $72,777, its highest level since March 14, before retreating to $71,650, still up over 3% on day.

[failuresfx]

MARKET WRAP: STOCKS, BONDS, COMMODITIES

On Friday, U.S. stock indexes posted gains, with the Dow Jones Industrial Average rising 153 points (+0.40%) to 38,239, the S&P 500 up 51 points (+1.02%) to 5,099, and the Nasdaq 100 up 287 points (+1.65%) to 17,718.

U.S. data showed that inflation remains firm ("sticky"), with the core personal consumption expenditure (PCE) price growth, the Federal Reserve's favorite inflation gauge, remained at 2.8% on year in March (vs 2.7% expected).

Technology, consumer discretionary and basic materials stock sectors led the market higher.

Alphabet (GOOGL) soared 10.22%. The tech giant reported better-than-expected quarterly earnings and announced its first-ever dividend of $0.20 per share.

Microsoft (MSFT) climbed 1.82%. The software giant's quarterly results exceeded expectations with its cloud business showing robust growth.

Snap (SNAP) surged 27.63% after the social media platform posted upbeat quarterly revenue and user-growth figures.

On the other hand, Intel (INTC) tumbled 9.20%, as investors were disappointed by the chip maker's profit guidance.

Exxon Mobil (XOM) lost 2.78%. The oil giant's first-quarter earnings failed to please investors.

European stocks also closed higher, with the DAX 40 rising 1.36%, the CAC 40 up 0.89%, and the FTSE 100 up 0.75%.

U.S. WTI crude-oil futures rose $0.28 to 83.85 a barrel.

Gold price gained $7 to $2,338 an ounce.


MARKET WRAP: FOREX

The U.S. dollar index advanced to 106.01 as inflation showed no signs of easing.

The Bank of Japan kept interest rates steady while showing no intentions of hiking rates further. As a result, the yen hit multi-decade lows against the dollar, with USD/JPY bouncing 1.8% to 158.44.

Traders are watching closely if USD/JPY striking the level of 160 would trigger intervention by the Japanese government.

EUR/USD fell 35 pips to 1.0694.

GBP/USD dropped 21 pips to 1.2492.

AUD/USD gained 15 pips to 0.6532.

USD/CHF rose 20 pips to 0.9140, and USD/CAD was up 12 pips to 1.3667.

Bitcoin continued to show a lack of traction, as it dipped below $63,000 over the weekend.



ICMarkets Direct Discount

1. MT4/MT5: Now only $5.5 per lot, down from $7.
2. cTrader and TradingView: Commissions cut to $5.5 per lot, previously $6.
3. Standard Accounts: Benefit from a 0.4 pip discount on spreads for increased profits.

If you already have an account at ICMarkets. Send an email, 'I would like to ask you to put my icmarkets account under 66066 introducing broker.'
to partners@icmarkets.com

For new accounts

https://icmarkets.com/?camp=66066