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Daily Global Market Update June 6th, 2024

Euro/Dollar Pair's Stability The Euro/Dollar pair remained largely unchanged in the last session. The RSI is giving a positive signal. Dollar/Yen Pair's Gain The Dollar/Yen pair gained 0.5% in the last session. The Stochastic RSI is giving a negative signal. Gold's Significant Rise The Gold/Dollar pair saw a significant increase of 1.1% in the last session. The ROC is giving a positive signal. NIO Shares' Decline NIO shares fell by 1.1% in the last session. The Stochastic indicator is giving a positive signal. Global Financial Headlines The US dollar drifted higher after data showed the services sector in the world's largest economy rebounded in May after contracting the previous month. This adds to the uncertainty surrounding the expected start of the Federal Reserve's policy easing cycle later this year. The S&P 500 and NASDAQ indexes hit record closing highs, mainly driven by technology stocks. The Bank of Canada trimmed its key policy rate, the first G7 country to do so this year, easing pressure on highly indebted consumers. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • Germany's Factory Orders - 0600 GMT • Australia's Exports - 0130 GMT • Japan's Overall Household Spending - 2330 GMT • Australia's Trade Balance - 0130 GMT • US Unit Labor Costs - 1230 GMT • US Initial Job Claims - 1230 GMT

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Publication date:

2024-06-06 06:36:44 (GMT)

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