Daily Global Market Update
Euro's Minor Downward Correction
The Euro-Dollar pair exhibited a slight downward adjustment, dropping 0.2% in the last session. Despite this, the CCI is issuing a negative signal, which contradicts our overall technical analysis.
Dollar's Rise Against Yen
The Dollar appreciated by 0.9% against the Yen in the previous trading session. The RSI is currently indicating a negative trend for this pair.
Gold's Slight Decline
Gold witnessed a decrease of 0.4% against the dollar in the last session. Contrarily, the Stochastic RSI is providing a positive signal for this commodity.
Amazon's Stock Surge
Amazon's stock enjoyed a gain of 1.2% in the last session. According to the Williams indicator, the market is currently in an overbought state.
Global Financial Headlines
Major banks worldwide predict a further easing in global economic growth in 2024, influenced by high interest rates, increased energy costs, and a slowdown in the world's two largest economies. The global economy is expected to grow by 2.9% this year, with a projected deceleration to 2.6% next year. Amid these forecasts, world shares show mixed performance in cautious trading, with varying outcomes across major financial centers. European banks are facing increasing challenges due to loan defaults and reduced lending volumes, exacerbated by rising interest rates affecting the region's financial system, as noted by the European Central Bank.
Upcoming Economic Highlights
Here's a quick overview of today’s key economic releases:
• French Business Climate in Manufacturing - 0745 GMT
• Japan's National Consumer Price Index - 2330 GMT
• Japan's Foreign and Bond Investment - 2350 GMT
• Japan's Foreign Investment in Japan Stocks - 2350 GMT
• New Zealand's Retail Sales - 2145 GMT
• Singapore's Consumer Price Index - 0500 GMT