Daily Global Market Update
Euro-Dollar Pair's Sideways Movement
The Euro-Dollar pair exhibited a sideways trend in the last session. The CCI indicator points towards an oversold market condition.
Dollar's Gain Against the Yen
In the last session, the Dollar strengthened by 0.6% against the Yen. The CCI suggests we are currently in an overbought market.
Gold's Downward Trend
Gold saw a decline of 1% in the latest session. The Ultimate Oscillator's negative signal corroborates the downtrend observed in gold.
Nike Shares' Minor Correction
Nike shares experienced a slight downward adjustment, dropping by 0.2% in the last session. The Stochastic RSI indicates a negative signal for Nike's stock.
Global Financial Headlines
The US Dollar Index reached a new one-month high following US retail sales data, which indicated economic robustness and reduced likelihood of immediate Federal Reserve rate cuts. Meanwhile, global stocks declined as markets adjusted to central banks resisting interest rate cuts and uneven signs of China's economic recovery. The UK's annual CPI accelerated to 4% in December, suggesting a reduced likelihood of an early Bank of England rate cut.
Upcoming Economic Highlights
Key economic releases to look out for include:
• Dutch Unemployment Rate - 0530 GMT
• Australia's Employment Change - 0030 GMT
• Euro Zone's Current Account - 0900 GMT
• Japan's National CPI - 2330 GMT
• UK's RICS Housing Price Balance - 0001 GMT
• Australia's Unemployment Rate - 0030 GMT
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Eurozone PMI Temporarily Helps the Euro but Is Unlikely to Change the Trend
EBC Markets Briefing | Loonie closer to key support on easing policy
Stocks under pressure amid US election jitters, dollar extends gains
Technical Analysis – GBPJPY at 3-Month High
Has Bitcoin Completed a Correction?
EUR/USD Dips to Three-Month Low Amid Strong Dollar Demand
