Daily Global Market Update

EUR/USD declined slightly, USD/JPY strengthened, gold dropped sharply, Amazon shares fell, USD/CAD weakened due to a Bank of Canada rate cut, Wall Street declined due to rising yields and skepticism about Fed rate cuts, corporate news affected McDonald's and Coca-Cola, and US existing home sales hit a 14-year low.

Moneta Markets | 4h 26min ago

EUR/USD's Downward Movement

The EUR/USD pair experienced a minor decline of 0.1% in the latest trading session. The Rate of Change (ROC) indicator is currently showing a negative signal.

USD/JPY's Strong Performance

The dollar strengthened against the Japanese yen, gaining 0.9% in the latest session. The Ultimate Oscillator suggests the market is currently in overbought territory.

Gold's Sharp Decline

Gold experienced a significant drop of 1.1% in the latest trading session. The Stochastic RSI indicates bearish momentum.

Amazon Stock Under Pressure

Amazon shares declined by 2.2% in the latest session. The Stochastic RSI is showing bearish signals.

Market Headlines

The Canadian dollar has weakened to an 11-week low against its US counterpart following the Bank of Canada's significant interest rate cut. Wall Street experienced a decline, led by mega-cap stocks, as US Treasury yields increased and investors became more skeptical about aggressive Federal Reserve rate cuts. Both McDonald's and Coca-Cola faced pressure from corporate news. Additionally, US existing home sales fell to a 14-year low in September, affected by elevated mortgage rates and house prices, marking the second consecutive monthly decline.

Upcoming Economic Events

Key economic releases to watch:

• Japan's Jibun Bank Manufacturing PMI - 0030 GMT

• UK's GfK Consumer Confidence - 2301 GMT

• US Initial Jobless Claims - 1230 GMT

• German Buba Monthly Report - 1000 GMT

• US Chicago Fed National Activity Index - 1230 GMT

• Finland's Producer Price Index - 0500 GMT

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

EUR/USD Dips to Three-Month Low Amid Strong Dollar Demand

The major currency pair fell to 1.0789 by Thursday. This is almost a three-month low. Demand for the US currency is fuelled by expectations of an orderly and negative interest rate cut by the US Federal Reserve, as well as strong forecasts for a second Donald Trump presidency.

RoboForex | 3h 26min ago

Heighten Geopolitical Tension Hit on Wall Street

Wall Street was hit hard by the escalating geopolitical tensions in the Middle East, with Israel and Hezbollah exchanging heavy fire.

PU Prime | 4h 1min ago

Loonie Stops Falling in Anticipation of the Rate Decision

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Loonie Stops Falling in Anticipation of the Rate Decision

FxPro | 20h 27min ago

U.S Dollar Jumps on Heightens Treasury Yield

The U.S. dollar has continued to strengthen against major currencies, supported by a sharp rise in long-term Treasury yields, which have reached their highest level since July. The market appears to be pricing in a soft landing by the Federal Reserve, particularly as the U.S. presidential election nears.

PU Prime | 1 day ago

US Dollar Gains Amid Higher Yields and Political Uncertainty

The U.S. dollar has recently surged to new highs, buoyed by a breakout in the dollar index, which surpassed a critical technical resistance level near 103.80. This rally has been largely driven by increasing U.S. Treasury yields, particularly the 10-year yield, which has climbed past its 200-day moving average and is now hovering just below 4.2%.

ACY Securities | 1 day ago