Daily Global Market Update

Oil price dipped and technical indicators suggest a potential downward trend. Aussie dollar and Euro gained slightly. Dollar Yen remained flat. Global markets reacted to weak China data with lower stocks and higher US yields. Today's focus is on US manufacturing data, German inflation, and Japanese consumer confidence.

Oil's Recent Drop

Oil dropped 0.4% against the dollar in the last session. The Ultimate Oscillator is giving a negative signal.

 

 

AUD's Slight Bump

The Aussie got a slight bump of 0.2% against the dollar in the last session. The CCI indicates that we are in an overbought market.

 

 

EUR/USD Pair's Minor Rise

The Euro/Dollar pair saw a minor rise of 0.1% in the last session. The MACD is giving a positive signal.

 

 

USD/JPY's Sideways Trade

The Dollar Yen pair traded sideways in the last session. According to the Williams indicator, we are in an overbought market.

 

 

Global Financial Headlines

China's manufacturing activity fell for a second month in June while services activity slipped to a 5-month low, spurring further stimulus talks. U.S. inflation remained unchanged in May, bringing the Federal Reserve closer to rate cuts. Global stocks dipped, and U.S. Treasury yields rose.

 

Upcoming Economic Highlights

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

• US ISM Manufacturing PMI - 1400 GMT

• Germany's Consumer Price Index - 1200 GMT

• Japan's Consumer Confidence Index - 0500 GMT

Moneta Markets
Type: STP, ECN
Regulation: FCA (UK), FSA (Seychelles), FSCA (South Africa)
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U.S. Stocks Await PCE Data & Nvidia Earnings

U.S. Stocks Await PCE Data & Nvidia Earnings

U.S. GDP revision and PCE Price Index will jointly validate the extent of economic cooling and disinflation. The PCE inflation gauge will directly shape market expectations for the Fed’s rate path, with Core PCE YoY expected to hold at 3.3%. The annualised QoQ GDP revision is forecast to remain at 1.5%. U.S. equities will also closely watch Nvidia’s earnings after market close
ATFX | 4 days ago