Daily Global Market Update

Euro-Dollar traded sideways, ROC negative. Dollar-Yen plunged 1.7%, MACD negative. Gold soared 1.5%, ROC negative. Microsoft fell 0.5%, MACD negative. Yen strengthens sharply after Bank of Japan's rate hike, markets await Fed hints on rate cuts. Eurozone inflation ticks up but expectations for ECB rate cut remain.

Euro-Dollar's Sideways Movement

The Euro-Dollar pair traded sideways in the last session. The ROC is giving a negative signal.

 

 

Dollar-Yen Pair's Plummet

The dollar-yen pair plummeted 1.7% in the last session. The MACD is giving a negative signal.

 

 

Gold's Skyrocket

The gold-dollar pair skyrocketed 1.5% in the last session. The ROC is giving a negative signal.

 

 

Microsoft's Stock Drop

Microsoft's stock dropped by 0.5% in the last session. The MACD is giving a negative signal.

 

 

Global Financial Headlines

The Bank of Japan's move to raise interest rates to their highest in 15 years has jolted the yen to its strongest against the dollar since March and left it poised for further gains. Japan's Ministry of Finance spent $37 billion in the foreign exchange market to prop up their currency this month. The NASDAQ and the S&P 500 jumped around 2% as investors hoped for hints from the Federal Reserve on the timing of rate cuts. A bullish forecast from AMD boosted chip stocks, while Microsoft slipped after a higher spending forecast. Eurozone inflation unexpectedly edged up in July, although a widely watched gauge of price growth in the services sector eased. Wednesday's figures did not seem to derail market expectations for an interest rate cut by the European Central Bank in September.

 

Upcoming Economic Highlights

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

• Australia's Trade Balance - 0130 GMT

• Japan's Monetary Base - 2350 GMT

• Australia's Exports - 0130 GMT

• US Initial Jobless Claims - 1230 GMT

• Japan's Jibun Bank Manufacturing PMI - 0300 GMT

• Dutch Retail Sales - 0430 GMT

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