Daily Global Market Update

Oil price dipped but technical indicators suggest potential rise. Aussie dollar and Euro dollar also show positive technical signals despite minor decline. Dollar Yen remains flat with negative RSI. Global stocks rose on positive Foxconn earnings and hopes of US rate cuts. Today's key events include Japan's economic outlook, Germany trade data, and Eurozone Euro Group meeting.

Moneta Markets | 141 days ago

Oil Recent Developments

The oil price dropped by 0.7% against the dollar in the last session. The MACD is giving a positive signal.

Aussie Dollar's Minor Dip

The Aussie dollar pair saw a minor dip of 0.1% in the last session. The RSI is giving a positive signal.

Euro-Dollar Stability

The Euro dollar price remained largely unchanged in the last session. The MACD is giving a positive signal.

Dollar-Yen's Unchanged Position

The dollar Yen price remained largely unchanged in the last session. The RSI is giving a negative signal.

Global Financial Headlines

Oil prices settled low to end last week as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes. Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, posted better than expected quarterly revenue on AI server demand and forecast continued growth in the current quarter. Wall Street stock indexes closed firmer to end last week with the tech-heavy NASDAQ and Benchmark S&P 500 hitting record highs as new data showing US labor market weakness boosted expectations for interest rate cuts as early as September.

Upcoming Economic Highlights

Here's a brief rundown of today's anticipated economic releases:

• Japan's Eco Watchers Survey Outlook - 0500 GMT

• Germany's Trade Balance - 0600 GMT

• UK's BRC Like-for-Like Retail Sales - 2301 GMT

• Eurozone's Euro Group Meeting - 0700 GMT

• UK CFTC GBP NC Net Positions - 1930 GMT

• US 6-Month Bill Auction - 1530 GMT

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Tags: Analysis

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