Daily Global Market Update
Euro's Continued Descent
The Euro Dollar pair saw a decline of 0.3% in the last session. According to the Stochastic RSI, there's a positive signal, suggesting a potential reversal or relief from the recent downward trend.
Dollar's Slight Retreat Against Yen
The Dollar edged down by 0.2% against the Yen in the last session. The CCI is emitting a positive signal, indicating a potential shift in momentum.
Gold's Minor Pullback
Gold retreated by 0.4% against the dollar in the last trading session. The MACD is signalling a positive divergence, which could mean a near-term upward movement.
Volkswagen Shares Dip
Volkswagen's shares experienced a 1.5% drop in the last session. The CCI is delivering a negative signal, aligning with our overall technical analysis.
Global Financial Headlines
The US dollar held steady as traders evaluated the likelihood of the Federal Reserve beginning interest rate cuts. Fed officials countered the speculation of three rate cuts in 2024, impacting financial markets. Meanwhile, a stellar year on Wall Street is propelling major equities towards record highs, leaving Emerging Markets far behind. In the UK, inflation has plunged to a two-year low, prompting bets on Bank of England rate cuts in the upcoming year.
Today's Economic Highlights
Here's a brief rundown of today’s anticipated economic releases:
• Dutch Unemployment Rate - 0530 GMT
• Irish Consumer Confidence - 0001 GMT
• US Gross Domestic Product Price Index - 1330 GMT
• Japan's National Consumer Price Index - 2330 GMT
• Bank of Japan Monetary Policy Meeting Minutes - 2350 GMT
• UK's Public Sector Net Borrowing - 0700 GMT
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