Daily Market Analysis By FXOpen

Nvidia (NVDA) Share Price Soars to Record High


Yesterday, Nvidia?s (NVDA) share price surged by over 4%, with the following key developments:
→ It broke through the psychological $150 per share level;
→ It reached a new all-time high;
→ It also contributed to the Nasdaq 100 index hitting a record peak, as we reported earlier this morning.

As a result, Nvidia has reclaimed its status as the world?s most valuable company. Demand for its shares is being fuelled by the CEO?s optimism.

?We have many growth opportunities across our company, with AI and robotics the two largest, representing a multitrillion-dollar growth opportunity,? said Jensen Huang at Nvidia?s annual investor conference.



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EUR/USD Pair Hits Yearly High


Yesterday, the EUR/USD exchange rate rose above the 1.1700 level for the first time this year. The last time one euro was worth more than 1.70 US dollars was in autumn 2019.

The main driver behind the euro?s rise is the weakening dollar, largely due to decisions made by the Trump administration. This week alone, the EUR/USD pair has gained more than 2%, partly as a result of escalating tensions between the US President and the Chair of the Federal Reserve.

According to Reuters, Trump called Powell ?terrible? and said he had three or four candidates in mind for the top job at the Fed. It was also reported that Trump had considered selecting and announcing a replacement for Powell by September or October (his current term officially runs until May 2026).



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Market Analysis: Gold Drop, Oil Slides - Traders Eye Macro Triggers


Gold price started a fresh decline below $3,320. WTI Crude oil is down over 15% and remains at risk of more losses.

Important Takeaways for Gold and WTI Crude Oil Price Analysis Today

• Gold price climbed higher toward the $3,400 zone before there was a sharp decline against the US Dollar.
• A key bearish trend line is forming with resistance near $3,300 on the hourly chart of gold at FXOpen.
• WTI Crude oil extended losses below the $68.00 support zone.
• A major bearish trend line is forming with resistance near $65.60 on the hourly chart of XTI/USD at FXOpen.

Technical Analysis of Gold Price


On the hourly chart of Gold at FXOpen, the price climbed above the $3,320 resistance. The price even spiked above $3,350 before the bears appeared.

A high was formed near $3,395 before there was a fresh decline. There was a move below the $3,350 support level. The bears even pushed the price below the $3,300 support and the 50-hour simple moving average.

It tested the $3,245 zone. A low is formed near $3,247 and the price is now showing bearish signs. There was a minor recovery wave toward the 23.6% Fib retracement level of the downward move from the $3,393 swing high to the $3,247 low.

However, the bears are active below $3,300. Immediate resistance is near $3,280. The next major resistance is near the $3,300 zone. There is also a key bearish trend line forming with resistance near $3,300.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

S&P 500 Sets New All-Time High, Surges Above 6200


The S&P 500 index (US SPX 500 mini on FXOpen) started the week by reaching a fresh all-time high. As shown on the chart, the index hit 6,210 points earlier this morning.

In addition to a reduced risk of US involvement in a large-scale war in the Middle East, market optimism has been fuelled by:
→ Tariff-related news. Last week, the US President announced the signing of a trade deal with China, while Treasury Secretary Scott Bessent expressed hope that the US would conclude trade negotiations with over a dozen countries by early September.
→ Strong corporate performance. On Friday, Nike (NKE) shares led the stock market, rising by more than 15% following an earnings report that exceeded analysts? expectations. This could be boosting investor sentiment ahead of the upcoming earnings season.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Market Insights with Gary Thomson: 30 June - 4 July

Market Insights with Gary Thomson: Eurozone Inflation, US Jobs, ISM PMIs, ECB Forum Updates

In this video, we?ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let?s dive in!

In this episode, we discuss:
? Euro Area Inflation Rate YoY Flash
? US Nonfarm Payrolls and Unemployment Rate
? US ISM Manufacturing and Services PMI
? ECB Forum on Central Banking

Don?t miss out?gain insights to stay ahead in your trading journey.




Watch it now and stay updated with FXOpen.

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.

Disclaimer: This video represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Euro Tests Multi-Year Highs Ahead of Key Macroeconomic Data


Amid waning interest in the US dollar and growing expectations of dovish rhetoric from the Federal Reserve, the euro continues to strengthen, rapidly approaching multi-year highs. Both the EUR/USD and EUR/CAD pairs are showing steady growth ahead of the release of eurozone inflation data, which could confirm the stability of price dynamics and boost investor confidence in the region?s currency.

The consensus forecast suggests that the Core Consumer Price Index (Core CPI) for June will hold steady at 2.3%, with the headline figure not exceeding 2.0%. Should the data match expectations, this may reinforce investor confidence in price stability across the eurozone and support the euro?s ongoing rally. Market focus is also directed towards a series of speeches from ECB officials and Federal Reserve Chair Jerome Powell, which could further influence pricing in the mentioned currency pairs.

EUR/USD
The EUR/USD pair has confidently broken above its recent high at 1.1750, testing a key resistance level at 1.1800. If the current news backdrop and support around the 1.1600?1.1700 range remain intact, the pair may continue its upward movement towards the 1.1900 mark. Technical analysis of EUR/USD indicates strong bullish momentum; however, such movement may also be accompanied by sharp corrective pullbacks and heightened volatility.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.