Daily Global Market Update

EUR/USD stagnated with a negative MACD, while USD/JPY rose 0.1% with a positive RSI. Gold fell 0.3% with a negative Stochastic, and Volkswagen gained 0.1% with a positive MACD. Oil rose on falling US crude inventories, limited by the Fed's 25 bp rate cut to 4.25%-4.5%.

Euro's Market Stagnation

The EUR/USD pair remained largely unchanged in the last trading session. The MACD is currently indicating a negative signal.

 

 

Dollar-Yen's Upward Correction

The USD/JPY pair saw a slight rise of 0.1% in the last session. The RSI is giving a positive signal.

 

 

Gold's Decline Continues

The GOLD/USD pair dropped by 0.3% in the last session. The Stochastic indicator is signalling a negative trend.

 

 

Volkswagen's Minor Gain

Volkswagen shares saw a modest rise of 0.1% in the last session. The MACD is giving a positive signal.

 

 

Global Financial Headlines

Oil prices rose as US crude inventories fell, but gains were limited after the Federal Reserve cut interest rates while signalling a slower pace of future reductions. The Fed's 25 basis-point cut set rates between 4.25% and 4.5%. Meanwhile, US stocks erased gains following the announcement, reflecting cautious market sentiment.

 

Upcoming Economic Highlights

Key economic events to monitor include:

• Japan's Labour Cash Earnings – 2330 GMT

• US Red Book Index – 1355 GMT

• UK's BRC Retail Sales – 0001 GMT

• Japan's Overall Household Spending – 2330 GMT

• Eurozone's Unemployment Rate – 1000 GMT

• Germany's Industrial Production – 0700 GMT

Moneta Markets
Type: STP, ECN
Regulation: FCA (UK), FSA (Seychelles), FSCA (South Africa)
read more
Fed Remarks Dampen Rate Hike Hopes Ahead of NFP Release

Fed Remarks Dampen Rate Hike Hopes Ahead of NFP Release

The U.S. August Nonfarm Payrolls report will be released tonight, the last major employment report before the Fed’s September meeting. Markets expect payrolls to rise by 58,000 (previous: -23,000), unemployment to remain at 4.1%, and average hourly earnings to increase 0.3% m/m (previous: 0.1%). The data could significantly impact rate expectations and market volatility.
ATFX | 11h 54min ago
The yen is advancing on three fronts

The yen is advancing on three fronts

The yen surged on three simultaneous tailwinds: BoJ rate hike expectations rising to 90% with speculation of a 50bp move, rumours of currency intervention, and an extraordinary GPIF meeting fuelling speculation of a portfolio shift toward domestic bonds. Falling Treasury yields and weak ADP data added further pressure on the dollar, pushing USDJPY sharply lower.
FxPro | 1 day ago