Daily Global Market Update

Euro gains against the dollar; technicals support. USD/JPY trades sideways with contradicting signals. Gold rises, but Stochastic RSI indicates overbought market. Nike shares drop with negative ROC. Dollar index holds near 4-month high; Japan's economy recovers. Gold prices surge amid inflation concerns. Key economic events include US jobless claims and Eurozone's PPI release.

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

Moneta Markets
Type: STP, ECN
Regulation: FCA (UK), FSA (Seychelles), FSCA (South Africa)
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