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Daily Global Market Update 04/04/2024

EUR/USD Pair's Gain The Euro gained 0.6% against the dollar in the last session. The MACD is giving a negative signal, aligning with our overall technical analysis. USD/JPY Pair's Sideways Movement The dollar-yen pair traded sideways in the last session. The Ultimate Oscillator's negative signal contradicts our overall technical analysis. Gold's Rise Against the Dollar Gold rose by 0.8% against the dollar in the last trading session. According to the Stochastic RSI, we are in an overbought market. Nike Shares' Drop Nike shares dropped by 0.9% in the last session. The ROC is giving a negative signal. Global Financial Headlines The dollar index held near its highest level in over 4 months, pinning the yen close to its lowest in decades. Japan's economic output recovered to full capacity for the first time in about 4 years in the October to December quarter, a positive sign that may allow the central bank to raise interest rates again. Gold prices extended a record run as concerns of inflationary pressures boosted demand for bullion as a hedge, with traders shrugging off doubts over an imminent US interest rate cut and rising treasury yields. Gold has gained more than 10% so far this year. Upcoming Economic Highlights Here's a brief rundown of today's most important economic events: • US Continuing Jobless Claims - 12:30 GMT • US Initial Jobless Claims - 12:30 GMT • Eurozone's Producer Price Index - 09:00 GMT • Japan's Overall Household Spending - 23:30 GMT • Japan's JP Foreign Reserves - 23:50 GMT • UK's 10-Year Bond Auction - 09:30 GMT

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Publication date:

2024-04-04 10:17:13 (GMT)

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