Daily Global Market Update
Oil's Slight Dip
Oil experienced a decrease of 0.2% against the dollar in the last session. The Stochastic RSI is signalling a negative outlook.
AUD/USD Pair's Sideways Movement
The AUD/USD pair traded sideways in the last session. The MACD is giving a positive signal.
EUR/USD Pair's Stability
The EUR/USD price remained largely unchanged in the last session. According to the Williams %R indicator, we are in an overbought market.
USD/JPY Pair's Steady Performance
The USD/JPY price remained largely unchanged in the last session. The RSI is giving a positive signal.
Global Financial Headlines
Several Chinese banks have been granted new gold import quotas from the Central Bank, anticipating revived demand despite record high prices. Spot gold has gained 21% so far this year, having hit successive record highs. India's foreign exchange reserves came off record highs and fell to $667.14 billion as of August 9th, the central bank said. The reserves fell by $4.8 billion in the reporting week, the biggest fall in 4 months. US Stocks entered last week higher, extending their biggest weekly percentage gains of the year as worries of an economic downturn eased and investors focused on the Jackson Hole economic Symposium next week. The S&P 500 and the NASDAQ notched their seventh straight session of gains.
Upcoming Economic Highlights
Here's a brief rundown of today's anticipated economic releases:
• US 3-month Bill auction - 1530 GMT
• US 6-month Bill auction - 1530 GMT
• Germany's German Buba Monthly Report - 1000 GMT
• China's FDI - 0900 GMT
• New Zealand's Exports - 2245 GMT
• New Zealand's Imports - 2245 GMT
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USDJPY remains exposed to bearish trend
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