Daily Global Market Update

Euro Dollar's Minor Correction

The Euro Dollar pair encountered a slight downward adjustment in the last session, declining by 0.2%. The Stochastic indicator is signalling a negative outlook, aligning with our broader technical analysis.

Dollar Yen's Slight Decline

The Dollar Yen pair also experienced a minor downward correction, dropping by 0.2%. Similar to the Euro Dollar, the Stochastic indicator is presenting a negative signal.

Gold's Upward Movement

Gold against the Dollar marked a minor increase, rising by 0.1% in the last session. The CCI indicator is offering a positive signal, consistent with our overall technical perspective.

Nike Shares Experience a Drop

In the last session, Nike shares witnessed a significant fall, dropping by 2.4%. Contrarily, the Stochastic indicator is emitting a positive signal.

Global Financial Headlines

The Dollar Index surged by 2.1% against a basket of major currencies in January, influenced by reduced market expectations for US rate cuts, amidst robust economic data and Central Banker caution. European stocks saw a marginal rise as investors parsed through corporate earnings and anticipated the latest US Federal Reserve monetary policy decision. The Bank of England is likely to maintain interest rates at a 15-year peak of 5.25% for the fourth consecutive month, with a 98% market prediction for rates to stay at their highest since 2008.

Today's Key Economic Events

Here's a snapshot of significant economic releases for today:

• US ISM Manufacturing PMI - 1500 hours GMT

• Eurozone's Harmonized Index of Consumer Prices - 1000 hours GMT

• US Initial Jobless Claims - 1330 GMT

• Australia's Import Price Index - 0030 GMT

• Japan's 10y Bond Auction - 0335 GMT

• Japan's Jibun Bank Manufacturing PMI - 0030 GMT