{"id":12770,"date":"2024-05-07T10:29:20","date_gmt":"2024-05-07T10:29:20","guid":{"rendered":"https:\/\/www.sevenstarfx.com\/blog\/?p=12770"},"modified":"2024-05-07T10:54:12","modified_gmt":"2024-05-07T10:54:12","slug":"daily-market-outlook-07-may-2024-2","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/","title":{"rendered":"Daily Market Outlook, 07 May, 2024"},"content":{"rendered":"\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\r\n\r\n\r\n\r\n<p>Stocks surged in their best three-day rally since November, driven by speculation of potential interest rate cuts by the Federal Reserve this year.<\/p>\r\n\r\n\r\n\r\n<p>The Dow Jones Industrial Average rose 176.59 points to 38,852.27, the S&amp;P 500 gain 1.03% to 5,180.74 and the Nasdaq Composite surged 192.92 points to 16,349.25.<\/p>\r\n\r\n\r\n\r\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan is surged 0.08% to 677.14 levels. The Australian index was high by 1.44% to 7,793.30. Japanese Nikkei Index surged 1.47% today.<\/p>\r\n\r\n\r\n\r\n<p>European stocks were positive on Tuesday, with the Stoxx Europe 50 Index increase 0.66% to 4,989.65, Germany&#8217;s DAX surged 0.75% to 18,307.75, and France&#8217;s CAC higher 0.41% to 8,029.17 and U.K.&#8217;s FTSE 100 gain 1.08% to 8,302.42.<\/p>\r\n\r\n\r\n\r\n<p>Benchmark 10-year U.S. Treasury rose as demand for safe assets slipped again, today 10-year bond yields negative 0.49% to 4.4650.<\/p>\r\n\r\n\r\n\r\n<p>Oil climbed 0.5% in early Asian trading, while US stock futures held steady despite Israel rejecting Hamas&#8217;s ceasefire proposal in Gaza. The US equity benchmark surpassed 5,180 on Monday.<\/p>\r\n\r\n\r\n\r\n<p>Spot Brent crude oil decline 0.19% to $83.17 per barrel. US West Texas Intermediate crude is down 0.14% to $78.37 a barrel.<\/p>\r\n\r\n\r\n\r\n<p>The yellow metal gold is decrease 0.38% to 2,322.40 dollars per ounce.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\"><strong>Market <span style=\"color: #cf2e2e;\">Wrap:<\/span> Forex<\/strong><\/span><\/h3>\r\n\r\n\r\n\r\n<p>The U.S. dollar was broadly steady on Tuesday while the yen trimmed earlier losses as Japanese officials issued fresh warnings following two rounds of suspected dollar-selling intervention last week.<\/p>\r\n\r\n\r\n\r\n<p>Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which surged 0.21% to 105.135.<\/p>\r\n\r\n\r\n\r\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that is down 0.05% today. This left the pair trading around $1.07630.<\/p>\r\n\r\n\r\n\r\n<p>The Japanese yen was negative against the U.S. dollar on Tuesday. Today USD\/JPY is higher 0.46% to the 154.59 level.<\/p>\r\n\r\n\r\n\r\n<p>Another commodity-related currency negative against the U.S dollar, AUD\/USD fell 0.36% to 0.66000, and NZD\/USD decend 0.04% to 0.60060 level.<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">EUR\/USD Intraday:<\/span> Resistance level at 1.07700<\/h3>\r\n<p><strong>Our pivot point is at 1.07700<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Take sell positions below pivot level with targets at 1.07450 &amp; 1.07270 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Above pivot looks for a further upside to 1.07950 &amp; 1.08120.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment:<\/strong> RSI is below 50 levels and pairs below its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12765 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/EURUSD-4-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">GBP\/USD Intraday: <\/span>Trend on the downside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is at 1.25500<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Sell positions below pivot with targets at 1.25220 &amp; 1.25020 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: The price above pivot would call for further upside to 1.25780 &amp; 1.25980.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>:\u00a0 RSI is below 50 levels and pairs below its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12766 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/GBPUSD-4-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">USD\/JPY Intraday:<\/span> Trend on the upside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is at 154.200<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price\u00a0Action:<\/strong> Buy position above pivot with the target at 155.270 and 156.070 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: The downside breakout of the pivot would call for 153.180 and 152.430.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: MACD is above 50 levels and Pairs above its 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12767 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/USDJPY-4-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">AUD\/USD Intraday:<\/span> Trend on the downside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is at 0.66070<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action:<\/strong> Sell positions below pivot with targets at 0.65750 &amp; 0.65510 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Above pivot looks for a further upside with 0.66400 &amp; 0.66630 as targets.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: RSI is below 50 levels and pairs below its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12763 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/AUDUSD-4-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">CRUDEOIL Intraday:<\/span> Support level at 78.34<\/h3>\r\n<p class=\"wp-block-heading\"><strong>Our pivot point is at 78.34<\/strong><\/p>\r\n<p><strong>Preferable Price Action<\/strong>: Above pivot buy oil with 79.02 &amp; 79.61 as targets.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Sell crude below pivot with targets at 77.71 and 77.13 in extension.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: MACD is positive territory.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12764 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/CRUDEOIL-2-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">XAU\/USD Intraday:<\/span> Trend on the downside<\/h3>\r\n\r\n\r\n\r\n<p><strong>Our pivot point is 2319.50<\/strong><\/p>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Further downside to 2310.50 and 2303.20.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: If the price gives an upside breakout of a pivot, then the price extends to 2327.60 and 2334.00.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: MACD is below 50 levels and pairs below its 20MA &amp; 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12769 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/XAUUSD-4-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><span style=\"color: #cf2e2e;\">Dow Jones Intraday:<\/span> Major trend on the upside<\/h3>\r\n<h3 class=\"wp-block-heading\"><strong style=\"font-size: 16px;\">Our pivot point is 38,898.00<\/strong><\/h3>\r\n\r\n\r\n\r\n<p><strong>Preferable Price Action<\/strong>: Take buy positions above the pivot with targets at 39,086.60 &amp; 39,213.20.<\/p>\r\n\r\n\r\n\r\n<p><strong>Alternative Price Action<\/strong>: Above 38,898.00 looks for further downside to 38,714.30 &amp; 38,587.70.<\/p>\r\n\r\n\r\n\r\n<p><strong>Comment<\/strong>: RSI is above 50 levels and Pairs above its 55MA.<\/p>\r\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-12768 size-large\" src=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/WS-30-3-1024x478.png\" alt=\"\" width=\"1024\" height=\"478\" \/><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><\/figure>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><span style=\"color: #008000;\">Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0<span style=\"color: #ff0000;\">Red Lines Indicate Support Levels\u00a0<\/span><br \/><span style=\"color: #3366ff;\">Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Market Wrap: Stocks, Bonds, Commodities Stocks surged in their best three-day rally since November, driven by speculation of potential interest rate cuts by the Federal Reserve this year. The Dow&hellip; <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[124,89,329,10,28,3,155,220,26,328,33,327,72,323,31,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Market Outlook, 07 May, 2024 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Market Outlook, 07 May, 2024 | Seven Star FX\" \/>\n<meta property=\"og:description\" content=\"Market Wrap: Stocks, Bonds, Commodities Stocks surged in their best three-day rally since November, driven by speculation of potential interest rate cuts by the Federal Reserve this year. The Dow&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Seven Star FX\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SevenStar.FX\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-07T10:29:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-07T10:54:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/EURUSD-4-1024x478.png\" \/>\n<meta name=\"author\" content=\"Seven Blog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sevenstarfx\" \/>\n<meta name=\"twitter:site\" content=\"@sevenstarfx\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Seven Blog\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\"},\"author\":{\"name\":\"Seven Blog\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/person\/e03b6bff5a1f05bf6b6d189356d489f0\"},\"headline\":\"Daily Market Outlook, 07 May, 2024\",\"datePublished\":\"2024-05-07T10:29:20+00:00\",\"dateModified\":\"2024-05-07T10:54:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\"},\"wordCount\":802,\"publisher\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#organization\"},\"keywords\":[\"bitcoin\",\"covid19\",\"CRUDE FELL\",\"CRUDEOIL\",\"dow jones\",\"gold\",\"japan\",\"nasdaq\",\"Oil\",\"omicron\",\"S&amp;P 500\",\"STOCK PLUNGE\",\"US Dollar\",\"virus\",\"Wall Street\",\"yellow metal\"],\"articleSection\":[\"Daily Market outlook\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\",\"url\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\",\"name\":\"Daily Market Outlook, 07 May, 2024 | Seven Star FX\",\"isPartOf\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#website\"},\"datePublished\":\"2024-05-07T10:29:20+00:00\",\"dateModified\":\"2024-05-07T10:54:12+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.sevenstarfx.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Daily Market Outlook, 07 May, 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#website\",\"url\":\"https:\/\/www.sevenstarfx.com\/blog\/\",\"name\":\"Seven Star FX\",\"description\":\"Forex Trading\",\"publisher\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.sevenstarfx.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#organization\",\"name\":\"Seven Star FX\",\"url\":\"https:\/\/www.sevenstarfx.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/worpess-logo.png\",\"contentUrl\":\"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/worpess-logo.png\",\"width\":260,\"height\":100,\"caption\":\"Seven Star FX\"},\"image\":{\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/SevenStar.FX\/\",\"https:\/\/twitter.com\/sevenstarfx\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/person\/e03b6bff5a1f05bf6b6d189356d489f0\",\"name\":\"Seven Blog\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3b1bcfdf0e08acc7a7ab8058fa1de41e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3b1bcfdf0e08acc7a7ab8058fa1de41e?s=96&d=mm&r=g\",\"caption\":\"Seven Blog\"},\"url\":\"https:\/\/www.sevenstarfx.com\/blog\/author\/yachi_patel\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Daily Market Outlook, 07 May, 2024 | Seven Star FX","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/","og_locale":"en_US","og_type":"article","og_title":"Daily Market Outlook, 07 May, 2024 | Seven Star FX","og_description":"Market Wrap: Stocks, Bonds, Commodities Stocks surged in their best three-day rally since November, driven by speculation of potential interest rate cuts by the Federal Reserve this year. The Dow&hellip;","og_url":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/","og_site_name":"Seven Star FX","article_publisher":"https:\/\/www.facebook.com\/SevenStar.FX\/","article_published_time":"2024-05-07T10:29:20+00:00","article_modified_time":"2024-05-07T10:54:12+00:00","og_image":[{"url":"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2024\/05\/EURUSD-4-1024x478.png"}],"author":"Seven Blog","twitter_card":"summary_large_image","twitter_creator":"@sevenstarfx","twitter_site":"@sevenstarfx","twitter_misc":{"Written by":"Seven Blog","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/#article","isPartOf":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/"},"author":{"name":"Seven Blog","@id":"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/person\/e03b6bff5a1f05bf6b6d189356d489f0"},"headline":"Daily Market Outlook, 07 May, 2024","datePublished":"2024-05-07T10:29:20+00:00","dateModified":"2024-05-07T10:54:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/"},"wordCount":802,"publisher":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/#organization"},"keywords":["bitcoin","covid19","CRUDE FELL","CRUDEOIL","dow jones","gold","japan","nasdaq","Oil","omicron","S&amp;P 500","STOCK PLUNGE","US Dollar","virus","Wall Street","yellow metal"],"articleSection":["Daily Market outlook"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/","url":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/","name":"Daily Market Outlook, 07 May, 2024 | Seven Star FX","isPartOf":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/#website"},"datePublished":"2024-05-07T10:29:20+00:00","dateModified":"2024-05-07T10:54:12+00:00","breadcrumb":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-07-may-2024-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.sevenstarfx.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Daily Market Outlook, 07 May, 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.sevenstarfx.com\/blog\/#website","url":"https:\/\/www.sevenstarfx.com\/blog\/","name":"Seven Star FX","description":"Forex Trading","publisher":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.sevenstarfx.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.sevenstarfx.com\/blog\/#organization","name":"Seven Star FX","url":"https:\/\/www.sevenstarfx.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/worpess-logo.png","contentUrl":"https:\/\/www.sevenstarfx.com\/blog\/wp-content\/uploads\/2019\/12\/worpess-logo.png","width":260,"height":100,"caption":"Seven Star FX"},"image":{"@id":"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/SevenStar.FX\/","https:\/\/twitter.com\/sevenstarfx"]},{"@type":"Person","@id":"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/person\/e03b6bff5a1f05bf6b6d189356d489f0","name":"Seven Blog","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.sevenstarfx.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3b1bcfdf0e08acc7a7ab8058fa1de41e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3b1bcfdf0e08acc7a7ab8058fa1de41e?s=96&d=mm&r=g","caption":"Seven Blog"},"url":"https:\/\/www.sevenstarfx.com\/blog\/author\/yachi_patel\/"}]}},"_links":{"self":[{"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/posts\/12770"}],"collection":[{"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/comments?post=12770"}],"version-history":[{"count":2,"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/posts\/12770\/revisions"}],"predecessor-version":[{"id":12774,"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/posts\/12770\/revisions\/12774"}],"wp:attachment":[{"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/media?parent=12770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/categories?post=12770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sevenstarfx.com\/blog\/wp-json\/wp\/v2\/tags?post=12770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}