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Daily Global Market Update 16/05/2024

Euro's Recent Rise The euro gained 0.6% against the dollar in the last session. The stochastic indicator is giving a positive signal. Dollar-Yen Pair's Plummet The dollar-yen pair dropped by 1% in the last session. The Rate of Change (ROC) indicator is giving a negative signal. Gold-Dollar Pair's Soaring The gold-dollar pair surged by 1.2% in the last session. The Commodity Channel Index (CCI) indicates an overbought market. Nike's Share Fall Nike's shares declined by 0.7% in the last session. The stochastic indicator is giving a positive signal. Dollar Slump and Market Response The dollar weakened against major currencies following US consumer prices showing lower inflation trends, potentially paving the way for an earlier interest rate cut by the Federal Reserve. Both the S&P 500 and NASDAQ achieved record closes, with hopes for interest rate cuts being reinforced by lower-than-expected consumer inflation. Today's Major Economic Events Here are today's significant economic releases: • US Industrial Production - 1315 GMT • Australia's Employment Change - 130 GMT • Japan's Industrial Production - 430 GMT • Italy's Consumer Price Index - 8 GMT • Australia's Unemployment Rate - 130 GMT • Dutch Unemployment Rate - 430 GMT

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Publication date:

2024-05-16 08:04:25 (GMT)

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