Daily Global Market Update

Oil prices rose slightly, but the market is overbought. The Australian dollar and euro traded sideways with positive indicators. The Japanese yen remained stable. Gold reached a new high amid rate cut expectations and Middle East tensions. FedEx shares plunged due to disappointing earnings. The S&P 500 hit a new record, but economic data and political uncertainty may impact future performance.

Moneta Markets | 65 days ago

Oil's Minor Upward Correction

The oil/dollar pair saw a minor upward correction, rising 0.2% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.

Aussie Dollar's Sideways Movement

The AUD/USD pair traded sideways in the last session. The Moving Average Convergence Divergence (MACD) is currently giving a positive signal.

Euro's Sideways Trading

The EUR/USD pair traded sideways in the last session. The Relative Strength Index (RSI) is giving a positive signal.

Dollar Yen's Stable Performance

The USD/JPY price remained largely unchanged in the last session. The Stochastic indicator is giving a positive signal.

Global Financial Headlines

Gold has soared above the $2,600 level for the first time, extending a rally boosted by bets for further US interest rate cuts and rising tensions in the Middle East. Shares of FedEx slumped over 15% on Friday, the worst in 2 years, after a dismal first-quarter profit drop due to anaemic economic conditions and an ongoing customer shift towards slower, cheaper deliveries. The S&P 500 hit its first closing all-time high in 2 months after the Fed unveiled a 50 basis point rate cut. However, the roaring rally in US stocks now faces a gauntlet of economic data, looming political uncertainty, and a corporate earnings test in coming weeks.

Upcoming Economic Highlights

Key economic events to look out for include:

• US 3-month Bill Auction - 1530 GMT

• US 6-month Bill Auction - 1530 GMT

• Dutch Gross Domestic Product - 0430 GMT

• Singapore's Consumer Price Index - 0500 GMT

• Korea's Producer Price Index Growth - 2100 GMT

• Australia's RBA Interest Rate Decision - 0430 GMT

Regulation: FSA (Seychelles), FSCA (South Africa)

EUR/USD Steady Ahead of Major US Data Releases

EUR/USD remains stable at around 1.0483 as markets digest the implications of the latest FOMC minutes.

RoboForex | 11h 16min ago

Daily Global Market Update

Bitcoin faces a bearish trend, while Alibaba Bar stock shows potential for upward movement. The Aussie Dollar is correcting downwards but may recover, and Gold is on an upward trajectory. Global markets are influenced by geopolitical tensions and economic indicators. Key economic events this week include Japanese and European data releases.

Moneta Markets | 14h 30min ago

All Eye on Today’s PCE

Ahead of today’s U.S. PCE reading, most asset classes remained steady as markets await direction. A higher-than-expected reading could bolster the dollar.

PU Prime | 14h 54min ago

Daily Global Market Update

Gold prices dropped significantly, while the Euro gained slightly. The Pound dipped, and Bitcoin fell sharply. Global equities rose as the dollar weakened. DeFi tokens surged, and the total value locked in DeFi reached a three-year high. Apple's investment proposal in Indonesia was rejected. Key economic events like US Non-Farm Payrolls and UK CPI are due.

Moneta Markets | 1 day ago