Daily Global Market Update
EUR/USD Pair's Gain
The Euro gained 0.6% against the dollar in the last session. The MACD is giving a negative signal, aligning with our overall technical analysis.
USD/JPY Pair's Sideways Movement
The dollar-yen pair traded sideways in the last session. The Ultimate Oscillator's negative signal contradicts our overall technical analysis.
Gold's Rise Against the Dollar
Gold rose by 0.8% against the dollar in the last trading session. According to the Stochastic RSI, we are in an overbought market.
Nike Shares' Drop
Nike shares dropped by 0.9% in the last session. The ROC is giving a negative signal.
Global Financial Headlines
The dollar index held near its highest level in over 4 months, pinning the yen close to its lowest in decades. Japan's economic output recovered to full capacity for the first time in about 4 years in the October to December quarter, a positive sign that may allow the central bank to raise interest rates again. Gold prices extended a record run as concerns of inflationary pressures boosted demand for bullion as a hedge, with traders shrugging off doubts over an imminent US interest rate cut and rising treasury yields. Gold has gained more than 10% so far this year.
Upcoming Economic Highlights
Here's a brief rundown of today's most important economic events:
• US Continuing Jobless Claims - 12:30 GMT
• US Initial Jobless Claims - 12:30 GMT
• Eurozone's Producer Price Index - 09:00 GMT
• Japan's Overall Household Spending - 23:30 GMT
• Japan's JP Foreign Reserves - 23:50 GMT
• UK's 10-Year Bond Auction - 09:30 GMT
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