Daily Global Market Update
Oil's Upward Trend
Oil marked a gain of 0.3% against the dollar in the last session. The RSI indicator is currently signaling a positive trend.
Aussie Dollar Stability
The Australian Dollar displayed minimal changes in its last session. The MACD is emitting a positive signal, aligning with the broader technical outlook.
Euro's Consistent Course
The Euro/Dollar pair traded without significant change in the last session. The RSI suggests a positive signal, consistent with our overall analysis.
Dollar/Yen Pair's Stable Movement
The Dollar/Yen pair experienced sideways movement in its last session. Contrary to our broader analysis, the Ultimate Oscillator is showing a positive signal.
Global Financial Headlines
Nissan Motor plans to sell China-developed electric vehicles globally, leveraging a new partnership with the country's top university. Meanwhile, various Chinese agencies and state-backed firms are reportedly avoiding Apple iPhones and foreign devices at work. Wall Street is re-evaluating its 2024 interest rate forecasts, expecting potential rate cuts following a dovish shift from the Federal Reserve.
Upcoming Economic Highlights
Key economic releases to watch out for include:
• US NAHB Housing Market Index - 1500 GMT
• US 3-Month Bill Auction - 1630 GMT
• US 6-Month Bill Auction - 1630 GMT
• Germany's Ifo Business Climate - 0900 GMT
• Germany's Ifo Current Assessment - 0900 GMT
• Germany's Ifo Expectations - 0900 GMT
WTI oil futures slide on OPEC supply outlook
Sterling Strengthens Weak US Dollar and UK Inflation Provide Support
Bitcoin confidently updates highs
GOLD Analysis: Dollar Falls, Gold Takes the Opportunity to Build a Bottom
Bitcoin close to the top
UK’s inflation surge puts BoE closer to Fed
Dollar weakness accelerates as risk appetite fades
