Daily Global Market Update

Oil-Dollar rose 0.5%, Stochastic positive. Aussie Dollar up 0.2%, ROC negative. Euro gained 0.6%, Ultimate Oscillator negative. Dollar-Yen fell 0.6%, Stochastic RSI overbought. China held lending rates. Neo to launch EVs in Europe. Wall Street surged on easing inflation. Gold soared, yields down.

Oil's Positive Performance

The Oil-Dollar pair gained 0.5% in the last session. The Stochastic indicator is giving a positive signal.

 

 

Aussie Dollar's Minor Gain

The Aussie-Dollar pair rose by 0.2% in the last session. The Rate of Change (ROC) indicator is giving a negative signal.

 

 

Euro's Continued Strength

The EUR/USD pair gained 0.6% in the last session. The Ultimate Oscillator is giving a negative signal.

 

 

Dollar Weakens Against Yen

The Dollar-Yen pair fell by 0.6% in the last session. The Stochastic RSI indicates an overbought market.

 

 

Global Market and Economic Updates

China maintained its benchmark lending rates as expected, with the one-year loan PR rate at 3.1% and the five-year LPR at 3.6%. Neo plans to launch its Firefly EV brand in Europe by early 2025, competing with Mercedes Smart and BMW's Mini. Meanwhile, Wall Street surged as cooler-than-expected inflation data boosted investor confidence. Gold soared, and US Treasury yields eased from multi-month highs.

 

Key Economic Events to Watch

Significant economic updates include:

• China's Industrial Production - 0600 GMT

• US Core Inflation Rate - 1230 GMT

• Eurozone GDP Growth Rate - 1000 GMT

• Japan's Machine Orders - 2330 GMT

• UK's Consumer Confidence Index - 0700 GMT

• Germany's Trade Balance - 0600 GMT

Moneta Markets
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