Daily Global Market Update

The Euro/Dollar and Dollar/Yen pairs saw slight gains of 0.1% each, with the former in overbought territory. Gold fell 0.6% against the Dollar, while NIO shares dropped 4.8%. The dollar weakened as US inflation data hinted at potential Fed rate cuts, boosting the euro to an 8-month high. Wall Street showed mixed results, with tech stocks declining.

Moneta Markets | 63 days ago

Euro/Dollar's Slight Uptick

The Euro/Dollar pair made a minor upwards correction in the last session, gaining 0.1%. According to the CCI, we are in an overbought market.

Dollar/Yen's Modest Gain

The Dollar/Yen pair made a minor upwards correction in the last session, gaining 0.1%. The CCI is giving a positive signal.

Gold's Decline Against the Dollar

The Gold/Dollar pair fell 0.6% in the last session. The MACD is giving a positive signal.

NIO's Sharp Decline

Shares of NIO plummeted 4.8% in the last session. The Stochastic indicator is giving a positive signal.

Global Financial Headlines

The dollar lost ground against its major peers, helping the euro reach an 8-month peak as the US Consumer Price Index showed inflation is subsiding, reinforcing expectations that Federal Reserve interest rate cuts are near. Wall Street's main indices offered a mixed bag on Wednesday as Alphabet and some mega-cap tech stocks traded lower, but the latest inflation data reassured investors betting the Federal Reserve would start cutting US interest rates next month. US consumer prices rose moderately in July, and the annual increase in inflation slowed to below 3% for the first time in nearly three and a half years, opening the door wider for the Federal Reserve to cut interest rates next month.

Upcoming Economic Highlights

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

• US Industrial Production - 1315 GMT

• Japan's Industrial Production - 0430 GMT

• Australia's Employment Change - 0130 GMT

• UK's Industrial Production - 0600 GMT

• US Retail Sales - 1230 GMT

• Japan's Capacity Utilization - 0430 GMT

Regulation: FSA (Seychelles), FSCA (South Africa)

Tags: Analysis

EBC Markets Briefing | Bullion eyes record high despite dollar comeback

Gold reached its peak as Treasury yields fell. LBMA delegates forecast gold at $2,941 and silver at $45 within 12 months.

EBC Financial Group | 17h 17min ago

US dollar could benefit from an unexciting ECB meeting

ECB meets but unlikely to reverse euro’s recent trend; Both the dollar and US stocks are in a good mood; Netflix reports today after TSMC's massive profit jump; Gold and bitcoin in demand, oil craves a bullish catalyst

XM Group | 18h 27min ago

AUD/USD Rises Following Strong Australian Employment Data

AUD/USD rebounded on Thursday after three consecutive days of declines. This was supported by robust employment data from Australia, which bolstered the hawkish outlook on the Reserve Bank of Australia's (RBA) monetary policy.

RoboForex | 18h 29min ago

Sector Winners and Losers: Which Industries Could Benefit or Suffer from the 2024 US Presidential Election Results?

As the 2024 US Presidential Election draws near, all eyes are turning towards the American economy and the potential impact on its several sectors. This is not surprising, given the diametrically opposing stances towards policies and each candidate is expected to uphold as apex representatives of their respective parties.

Vantage | 18h 39min ago

The Crypto Market Stabilises at the Top

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: The Crypto Market Stabilises at the Top

FxPro | 19h 17min ago

The “Harris Trade”: How Market Trends and Strategies Could Be Impacted If Harris Wins the US Presidency

If you’ve been following the US Presidential Elections, chances are you’ve heard about the Trump Trade. This is a loosely defined collection of trade ideas and investment strategies based on policy changes and sector developments that are likely to take place should Trump win the presidency.

Vantage | 20h 15min ago

Trump Trade 2024: Understanding Market Trends and Strategies Under Trump’s Economic Policies

With Donald Trump once again running for president, many of his economic policies and views on international trade are coming back into the spotlight. His particular brand of aggressive protectionism, deregulation, and lower taxation has been dubbed the “Trump Trade”’ by the media.

Vantage | 20h 28min ago

Daily Global Market Update

Euro/USD: Minor downward correction, oversold market. Dollar/Yen: Upward trend, positive signal. Gold/Dollar: Upward trend, overbought market. Nike: Upward trend, positive signal. Global: Canadian dollar rose, US stocks mixed, gold gained, Spain's IEX at highest since 2010. Upcoming: Australia's employment, Eurozone's inflation, Australia's unemployment, Dutch unemployment, Japan's tertiary index,

Moneta Markets | 21h 0min ago

EURUSD	1.08386	GBPUSD	1.3022	AUDUSD	0.67072
USDJPY	149.903	USDCAD	1.37925	USDCHF	0.86578