Daily Global Market Update

The oil/dollar pair saw a slight decline, while the Australian dollar and euro experienced minor fluctuations. The dollar/yen remained stable. The Federal Reserve's upcoming monetary policy meeting is a focal point, with the S&P 500 approaching its July record high. Intel Corp qualified for federal grants to manufacture semiconductors, while Nvidia's stock surge has raised market concerns.

Oil's Slight Decline

The oil/dollar pair fell by 0.3% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.

 

 

Australian Dollar's Movement

The AUD/USD pair saw minor fluctuations in the last session. The Williams Percent Range indicator is giving a positive signal.

 

 

Euro's Sideways Movement

The EUR/USD pair traded sideways in the last session. The Stochastic RSI is giving a positive signal.

 

 

Dollar/Yen Stability

The USD/JPY price remained largely unchanged in the last session. The Rate of Change (ROC) indicator is giving a positive signal.

 

 

Global Financial Headlines

The Federal Reserve is in focus next week as uncertainty swirls over interest rate cuts at its monetary policy meeting. The S&P 500 Index is just 1% shy of its July record high. Intel Corp has qualified for up to $3.5 billion in federal grants to make semiconductors for the US Department of Defense. Nvidia's 140% stock surge this year has accounted for about a quarter of the S&P 500's 17.7% gain, raising concerns about market vulnerability.

 

Upcoming Economic Highlights

Key economic events to look out for include:

• US 3-month Bill auction - 1530 GMT

• US 6-month Bill auction - 1530 GMT

• Eurozone's trade balance - 0900 GMT

• Italy's Consumer Price Index - 0800 GMT

• Eurozone's labour cost - 0900 GMT

• Italy's trade balance EU - 0900 GMT

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