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Daily Global Market Update 11/03/2024

Oil Dollar Pair's Sideways Movement The oil-dollar pair traded sideways in the last session. The Commodity Channel Index (CCI) is delivering a negative signal. Aussie Dollar's Steady State The Aussie dollar pair traded sideways in the last session. The Williams %R indicator's negative signal contradicts our overall technical analysis. Euro Dollar's Stability The Euro-dollar price remained largely unchanged in the last session. The MACD is issuing a positive signal, aligning with our overall technical analysis. Dollar Yen's Sideways Trade The dollar-Yen pair traded sideways in the last session. The MACD is providing a negative signal. Global Financial Headlines Saudi Aramco's CEO, Amin Nasser, discussed the robust and growing demand for oil in China, coinciding with the company's profit results announcement. Rivian's shares surged following high demand for its R2 SUV, signaling potential growth in the mass market. Asian stocks reached a seven-month high, buoyed by anticipation of an interest rate easing cycle from major central banks, putting pressure on the dollar and treasury yields. Upcoming Economic Highlights Today's significant economic events: • US 6-month and 3-month Bill auctions - 1530 GMT • Finland's current account - 0600 GMT • Eurozone's Eurogroup meeting - 0700 GMT • Japan's Machine Tool Orders - 0600 GMT • Producer Price Index 2350 - GMT

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Publication date:

2024-03-11 15:05:17 (GMT)

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