Daily Global Market Update
Euro's Promising Outlook
The euro appreciated by 0.4% against the dollar in its recent session. The Williams R indicator indicates a bullish trend.
Dollar's Slight Movement Against the Yen
The dollar noted a marginal 0.1% uplift against the yen in the preceding session. The stochastic indicator, however, hints at a potential decline.
Gold's Forward Momentum
Gold posted a 0.3% gain against the dollar in the latest session, with the stochastic indicator affirming a bullish trajectory.
Alibaba's Rising Fortunes
Alibaba's stock surged by 1.1% in the recent session, aligning with a bullish indication from the stochastic indicator.
Key Financial Developments
The US dollar experienced its most significant drop in six weeks, with analysts linking this to milder-than-anticipated US employment data, potentially affecting the Federal Reserve's rate hike plans. In Canada, expectations are high that the Bank of Canada will maintain its interest rates at 5% through to the end of March 2024. Meanwhile, in the UK, a slowdown in borrowing during July could indicate rising household caution amidst escalating borrowing costs.
Anticipated Economic Announcements
A brief overview of upcoming economic releases:
• US Initial Jobless Claims - 1230 GMT
• US Personal Income - 1230 GMT
• Eurozone Harmonized Index of Consumer Prices - 0900 hours GMT
• Germany's Unemployment Rate - 0755 GMT
• Japan's Annualised Housing Starts - 0500 hours GMT
• Japan's Construction Orders - 0500 hours GMT
EBC Markets Briefing | Japan treads on a fine line
Currencies in Focus: Australian Dollar Strong Amidst US Dollar’s Decline | 28th August 2025
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Sterling is demonstrating stability, buoyed by shifting interest rate expectations surrounding the Bank of England (BoE)
ATFX Market Outlook 28th August 2025
Bitcoin regains ground above 113,300 as Trump boosts crypto markets
