Daily Global Market Update
Euro's Upward Movement
The Euro showed a notable increase of 0.7% against the dollar in the last session. Despite this, the stochastic indicator is signaling a negative outlook, challenging our broader technical analysis.
Dollar-Yen Pair's Decline
The dollar-yen pair experienced a significant drop of 1.6% in the last session. The stochastic RSI indicates that we are currently in an oversold market.
Gold's Strong Performance
Gold surged by 2.2% against the dollar in the last trading session. The CCI's positive signal aligns well with the overall bullish sentiment in our technical analysis.
Nike Stock's Rise
Nike's stock witnessed a rise of 1.2% in the last session. However, the Williams indicator is pointing towards an overbought market, suggesting potential caution for traders.
Global Financial Headlines
The dollar weakened against the Euro and Yen following the Federal Reserve's indication that the era of tight U.S. monetary policy may be concluding, with lower borrowing costs expected in 2024. Wall Street awaits further insights from Federal Reserve Chief Jerome Powell. Meanwhile, the Bank of England is poised to maintain interest rates amid emerging economic vulnerabilities.
Upcoming Economic Highlights
Here are today's key economic releases:
• UK's RICS Housing Price Balance - 0001 hours GMT
• U.S. Retail Sales - 1330 hours GMT
• Finland's Consumer Price Index - 0600 hours GMT
• Australia's Employment Change - 0030 hours GMT
• Japan's Industrial Production - 0430 hours GMT
• Spain's Harmonized Index of Consumer Prices - 0800 hours GMT
Weak PMIs Failed to Dampen GBPUSD
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
