Daily Global Market Update

Oil-dollar pair surged 2.9% (MACD bullish). Gold-dollar stable (ROC bullish). Euro-dollar unchanged (CCI oversold). Dollar-yen steady (MACD bearish). Key highlights: UK inflation drop, SoftBank's ARM investors, China's uncertain economy.

Moneta Markets | 771 days ago

Oil Dollar Pair's Astonishing Leap

The oil dollar pair surged by an impressive 2.9% in the preceding session. An analysis using the MACD suggests a bullish market momentum.

Gold's Neutral Stance

Gold's pairing with the dollar remained fairly constant in the last trading session. An assessment with the ROC shows a bullish signal, aligning with the prevailing technical overview.

Euro's Steady Ground Against Dollar

The euro-dollar pair remained relatively unchanged in the previous session. The CCI indicates an oversold market situation.

Dollar Yen's Stable Path

The dollar-yen pairing held its ground in the past session. However, the MACD provides a bearish indicator.

Key Financial Highlights

The UK's Finance Minister, Jeremy Hunt, anticipates a significant reduction in inflation rates by the end of 2023. SoftBank reveals key investors such as Apple, Nvidia, Intel, and Samsung Electronics for ARM's upcoming IPO. Notably, China's trade data for August indicates potential contraction in exports and imports, albeit at a slower rate than in July. The nation's economic forecast remains unpredictable given the dwindling global demand for Chinese products and a recent dip in the property sector.

Economic Releases to Watch

Scheduled economic announcements include:

• Germany's Exports - 0600 hours GMT

• Germany's Imports - 0600 hours GMT

• Germany's Trade Balance - 0600 hours GMT

• Spain's Unemployment Change - 0700 hours GMT

• UK's BRC Like-for-Like Retail Sales - 2301 hours GMT

• Korea's GDP Growth - 2300 hours GMT