Daily Global Market Update
Oil's Upward Movement
The Oil-Dollar pair saw a notable increase of 0.7% in the last session, with a peak rise of 1%. The Williams Percent Range indicator points towards an overbought market condition.
Aussie's Steady Pace
The Aussie-Dollar pair remained steady in the last session. The Williams Percent Range indicator is showing a positive signal, suggesting potential upward movement.
Euro's Sideways Trade
The Euro-Dollar pair traded sideways in the last session. The Stochastic RSI indicator is giving a positive signal, hinting at a potential shift in momentum.
Dollar-Yen's Stability
The Dollar-Yen pair showed little change in the last session. According to the Stochastic indicator, the market is currently overbought.
Global Financial Headlines
Chinese EV manufacturers, after years of explosive growth, are facing a domestic demand slowdown. This is driving them to expand globally, challenging traditional auto giants. Nvidia is set to release its earnings report, with Wall Street anticipating a significant increase. Asian markets have continued their upward trend, marking the fourth consecutive week of gains despite mild recessions and weak retail sales in key economies.
Upcoming Economic Highlights
Today's economic calendar is bustling with key releases:
• Dutch Consumer Confidence at 0530 GMT
• Finland's Consumer Price Index at 0600 GMT
• Germany's Bundesbank Monthly Report at 1100 GMT
• UK's Rightmove House Price Index at 0001 GMT
• China's Foreign Direct Investment at 0900 GMT
• Korea's Consumer Sentiment Index at 2100 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
