Daily Global Market Update

The euro rose 0.6% against the dollar, while the dollar-yen pair fell by 1% and the gold-dollar pair surged 1.2%. Nike's shares declined by 0.7%. Lower US inflation sparked hopes for an early Fed rate cut, boosting the S&P 500 and NASDAQ. Key economic events today include industrial production and unemployment data from the US, Australia, Japan, Italy, and the Netherlands.

Euro's Recent Rise

The euro gained 0.6% against the dollar in the last session. The stochastic indicator is giving a positive signal.

 

 

Dollar-Yen Pair's Plummet

The dollar-yen pair dropped by 1% in the last session. The Rate of Change (ROC) indicator is giving a negative signal.

 

 

Gold-Dollar Pair's Soaring

The gold-dollar pair surged by 1.2% in the last session. The Commodity Channel Index (CCI) indicates an overbought market.

 

 

Nike's Share Fall

Nike's shares declined by 0.7% in the last session. The stochastic indicator is giving a positive signal.

 

 

Dollar Slump and Market Response

The dollar weakened against major currencies following US consumer prices showing lower inflation trends, potentially paving the way for an earlier interest rate cut by the Federal Reserve. Both the S&P 500 and NASDAQ achieved record closes, with hopes for interest rate cuts being reinforced by lower-than-expected consumer inflation.

 

Today's Major Economic Events

Here are today's significant economic releases:

• US Industrial Production - 1315 GMT

• Australia's Employment Change - 130 GMT

• Japan's Industrial Production - 430 GMT

• Italy's Consumer Price Index - 8 GMT

• Australia's Unemployment Rate - 130 GMT

• Dutch Unemployment Rate - 430 GMT

Moneta Markets
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