Daily Global Market Update
Euro's Slight Decline
The Euro-Dollar pair experienced a minor downward adjustment in the latest session, dropping by 0.2%. The MACD indicator is currently signalling a positive trend.
Dollar's Rise Against the Yen
The Dollar saw a gain of 0.55% against the Yen in the last session. The Stochastic RSI is indicating a negative trend.
Gold's Minor Dip
Gold experienced a slight decrease of 0.1% against the dollar in the last session. The Stochastic indicator is showing a negative signal.
NIO's Stock Surge
NIO's stock witnessed a notable rise of 3.6% in the last session, with an intraday high of 7%. The CCI is currently indicating a positive trend.
Global Financial Updates
The dollar gained after robust US retail sales data in October, suggesting that a firm date for the Federal Reserve to slash interest rates remains uncertain. Meanwhile, global stocks soared following cooler-than-expected US inflation data in October, fuelling speculation that the period of interest rate hikes could be ending, and borrowing costs may soon decrease. The European Union's executive commission has downgraded its growth forecast for the current and coming year, as inflation impacts consumer spending and higher central bank rates discourage borrowing for purchases and investments.
Today's Economic Events
Key economic events to watch today include:
• US Industrial Production - 1415 GMT
• Dutch Unemployment Rate - 0530 GMT
• Australia's Employment Change - 0030 GMT
• Italy's Trade Balance EU - 0900 GMT
• Japan's Tertiary Industry Index - 0430 GMT
• Australia's Unemployment Rate - 0030 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
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August was the best month for gold since April
EBC Markets Briefing | Aussie dollar stalls on US GDP beat
