Daily Global Market Update

Euro Dollar's Upward Correction

The euro dollar pairing witnessed a slight uptrend in the recent session, marking a 0.1% appreciation. According to the Ultimate Oscillator, the market exhibits a bullish sentiment.

Dollar's Strength Against the Yen

The dollar registered a 0.3% increase against the yen during its last session. The Rate of Change (ROC) is indicating a bullish momentum.

Gold's Positive Rally

Gold enjoyed a boost of 0.7% against the dollar in the preceding trading session. The Commodity Channel Index (CCI) suggests a bullish environment.

Amazon's Overbought Market

Amazon's shares soared by 1.5% in the previous session. However, the Stochastic RSI signals an overbought market situation.

Global Financial Updates

The Canadian dollar slightly depreciated against its US counterpart, affected by declining oil prices and anticipation surrounding a critical US inflation report. The IMF's chief economist expressed that the ramifications of the clash between Hamas and Israel on the global economy are yet uncertain. The global market, however, has displayed resilience against other shocks, like the COVID-19 pandemic and the Russian-Ukrainian conflict. In Europe, the DAX and FTSE 100 indices are trying to ascend, whereas the CAC 40 is facing challenges, primarily due to the luxury sector's performance following a profit warning from LVMH.

Today's Key Economic Events

Here's a summary of today’s significant economic releases:

• Japan's foreign investment in Japanese stocks - 2350 GMT

• Japan's foreign bond investment - 2350 GMT

• UK's Gross Domestic Product - 0600 hours GMT

• UK's Industrial Production data - 0600 hours GMT

• Portugal's Consumer Price Index - 0100 GMT

• Australia's consumer inflation expectations - 0000 hours GMT