Daily Global Market Update

The EUR/USD and USD/JPY pairs traded sideways, with negative signals from Stochastic and MACD, respectively. Gold/USD dropped 0.2%, while Volkswagen stock rose 0.4% with oversold conditions. US dollar mixed after inflation data, Wall Street fell, and Harris's presidential odds rose. Oil prices surged due to hurricane fears.

EUR/USD Sideways Movement

The EUR/USD pair traded sideways in the last session. The Stochastic indicator is giving a negative signal.

 

 

USD/JPY Sideways Trading

The USD/JPY pair traded sideways in the last session. The MACD is giving a negative signal.

 

 

Gold's Minor Downward Correction

The Gold/USD pair made a minor downwards correction in the last session, dropping 0.2%. The Williams Percent Range indicator is giving a negative signal.

 

 

Volkswagen Stock Rise

The last session saw Volkswagen's stock rise 0.4%. The Stochastic indicator suggests an oversold market.

 

 

Global Financial Headlines

The US dollar showed mixed performance in choppy trading after data revealed a rise in underlying inflation in August, reinforcing expectations of a smaller 25 basis point interest rate cut by the Federal Reserve next week. Wall Street's main indexes fell following the latest inflation numbers, which dampened hopes for a larger interest rate cut. Meanwhile, odds of Democrat Kamala Harris winning the US Presidency increased after a televised debate. In the energy sector, US crude oil climbed more than $2 a barrel, driven by fears of lengthy production shutdowns in the offshore oil patch as Hurricane Francine approached.

 

Upcoming Economic Highlights

Key economic events to look out for include:

• US Monthly Budget Statement - 18:00 GMT

• Germany's Wholesale Price Index - 06:00 GMT

• US Producer Price Index - 12:30 GMT

• US Initial Jobless Claims - 12:30 GMT

• Spain's Harmonised Index of Consumer Prices - 07:00 GMT

• Spain's Consumer Price Index - 07:00 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