Daily Global Market Update
Euro's Slight Elevation
The Euro recorded a modest rise of 0.1% against the dollar in the previous trading session. An evaluation using the Ultimate Oscillator reveals a positive market trajectory.
Yen's Fortified Position
The last session witnessed the dollar plummeting by 0.6% against the Yen. The Stochastic RSI hints at a negative market momentum.
Gold's Brightening Prospects
Gold, paired with the dollar, experienced an increase of 0.8% in the last trading period. The Williams indicator suggests a positive market condition.
Microsoft's Bullish Trajectory
Shares of Microsoft marked a 0.9% gain in the previous session. However, the Stochastic RSI indicates the market may be entering overbought territory.
Global Financial Synopsis
Business activity data from the Eurozone and the UK triggered a slump in both the Euro and Pound against the dollar, catapulting the Greenback to its zenith in two months. In the US, business activity neared a standstill in August, witnessing the most sluggish growth since February. New business demands in the service sector diminished. Furthermore, Germany, Europe's largest economy, saw its sharpest drop in business activity in over three years, inciting concerns of a potential recession.
Economic Announcements on the Horizon
Stay tuned for the following key economic releases:
• US Durable Goods Orders - 1230 GMT
• Finland's Producer Price Index - 0500 hours GMT
• Japan's Tokyo CPI - 2330 GMT
• France's Business Climate in Manufacturing - 0645 GMT
• US Initial Jobless Claims - 1230 GMT
Inflation in the US will not make the Fed's rate cut in September comfortable
Gold approached the upper limit of the 4-month trading range
Dollar extends slide ahead of PCE inflation data
September Market Insights: How Volatility, Institutional Flows, and Global Trends Shape Fall Trading
While the dollar is confused, the S&P 500 faces NVIDIA’s rebalancing threat
August was the best month for gold since April
EBC Markets Briefing | Aussie dollar stalls on US GDP beat
