Daily Global Market Update

Oil dipped slightly, while currencies remained mostly flat. Gold tumbled on strong US data, stocks dipped slightly. Watch for economic data releases today from US, Eurozone, Germany, Japan and UK.

Oil's Recent Drop

Oil experienced a decrease of 0.7% against the dollar in the last session. According to the Williams Percent Range, we are currently in an overbought market.

 

 

AUD/USD's Stability

The AUD/USD pair remained largely unchanged in the last session. The Ultimate Oscillator is giving a positive signal.

 

 

EUR/USD's Steady Position

The EUR/USD pair remained largely unchanged in the last session. The Rate of Change (ROC) is giving a positive signal.

 

 

USD/JPY's Market Condition

The USD/JPY pair remained largely unchanged in the last session. According to the Stochastic RSI, we are in an overbought market.

 

 

Upcoming Economic Highlights

 

Gold prices dropped more than 1% on Friday, weighed down by a stronger dollar and higher bond yields after data showed strong US business activity, while palladium jumped to a one-month high. US business activity crept up to a 26-month high in June amid a rebound in employment, but price pressures subsided, offering hope that a recent slowdown in inflation was likely to be sustained. The S&P 500 and NASDAQ closed marginally lower last week, weighed down by a decline in Nvidia shares, which dragged down the technology sector. Technology was the biggest loser among the 11 major S&P 500 sectors, down 0.84%, while communications services led the gains.

Here's a brief rundown of today's anticipated economic releases:

• US Chicago Fed National Activity Index - 1230 GMT

• US Dallas Fed Manufacturing Business Index - 1430 GMT

• Eurozone's Eurogroup Meeting - 0700 GMT

• Germany's IFO Business Climate Index - 0800 GMT

• Japan's CFTC JPY NC Net Positions - 1930 GMT

• UK's CFTC GBP NC Net Positions - 1930 GMT

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