Daily Global Market Update

Oil surged 1.1%, overbought on CCI. Aussie gained 0.1%, positive Stochastic. Euro climbed 0.4%, positive Williams %R. Yen dipped 0.1%, overbought on Williams %R, negative signal. US stocks rebounded on rate cut hopes and Foxconn revenue surge. Key events: Dutch Retail Sales, German CPI, UK CFTC GBP positions, Japan Services PMI, US Bill Auction.

Oil's Skyrocketing Performance

The oil-dollar pair surged by 1.1% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.

 

 

Aussie's Slight Bump

The Australian dollar gained 0.1% against the US dollar in the last session. The Stochastic indicator is showing a positive signal.

 

 

Euro's Positive Signal

The EUR/USD pair climbed 0.4% in the last session. The Williams Percent Range indicator is emitting a positive signal.

 

 

Yen's Downward Correction

The USD/JPY pair dipped 0.1% in the last session, following a minor downward correction. The Williams Percent Range indicator suggests an overbought market, supporting a negative signal in technical analysis.

 

 

Global Financial Headlines

US stocks rebounded in the final session of a holiday-shortened week, buoyed by investor optimism about anticipated Federal Reserve rate cuts and more lenient regulatory policies under a new administration. In corporate news, Taiwan's Foxconn recorded its highest-ever quarterly revenue, fuelled by strong demand for AI servers and iPhones, with a 15.2% year-on-year revenue jump to $64.7 billion.

 

Upcoming Economic Highlights

Key economic events to monitor include:

• Dutch Retail Sales - 0530 GMT

• Japan's CFTC JPY NC Net Positions - 2030 GMT

• Germany's Harmonised Index of Consumer Prices - 1300 GMT

• UK's CFTC GBP NC Net Positions - 2030 GMT

• Japan's Jibun Bank Services PMI - 0030 GMT

• US 3-Month Bill Auction - 1630 GMT

Moneta Markets
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