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Daily Global Market Update 20/05/2024

Oil's Positive Movement Oil gained 0.7% against the dollar in the last session. The Rate of Change (ROC) indicator is giving a positive signal. AUD/USD's Steady Pace The Aussie dollar price remained largely unchanged in the last session. According to the Williams %R indicator, we are in an overbought market. EUR/USD's Sideways Trade The Euro dollar pair traded sideways in the last session. According to the Commodity Channel Index (CCI), we are in an overbought market. USD/JPY's Neutral Stance The Dollar-yen pair traded sideways in the last session. The ROC is giving a negative signal. Global Financial Headlines China's gasoline exports in April fell to the lowest level since July 2015 as domestic travel and fuel use increased in the recovering economy. Japan's Nippon Steel Vice Chairman Takahiro Mori, a key negotiator for its planned purchase of US Steel, will travel to the United States next week to meet stakeholders as part of continued efforts to complete the deal. World stock indexes rose for a seventh straight session and US Treasury yields also gained as investors tried to assess the timing of potential interest rate cuts by the Federal Reserve this year. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • Japan's Tertiary Industry Index - 0430 GMT • US 3-month Bill Auction - 1530 GMT • US 6-month Bill Auction - 1530 GMT • China's PBOC Interest Rate Decision - 0115 GMT • China's FDI - 0900 GMT • Hong Kong's Unemployment Rate - 0830 GMT

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Publication date:

2024-05-20 10:02:05 (GMT)

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