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Daily Global Market Update July 9th, 2024

Gold's Recent Decline The Gold-Dollar pair experienced a 1.1% decline in the last session. The Stochastic RSI is giving a negative signal. Euro Dollar's Sideways Movement The Euro Dollar pair traded sideways in the last session. The Commodity Channel Index (CCI) indicates that we are currently in an overbought market. Pound Dollar's Steady Position The Pound Dollar pair traded sideways in the last session. The Rate of Change (ROC) indicator is giving a negative signal. Bitcoin's Uptick Bitcoin rose by 0.6% against the dollar in the last session. The Williams %R indicator is giving a positive signal. Global Financial Headlines MSCI's global equities gauge saw minimal movement in choppy trading. US Treasury yields dipped as investors awaited key developments, including Federal Reserve Chair Jerome Powell's testimony, critical inflation data, and the corporate earnings season kickoff. The long-awaited repayment process for creditors of the defunct crypto exchange Mt. Gox has commenced, with repayments in Bitcoin and Bitcoin Cash. Boeing has agreed to plead guilty to a criminal fraud conspiracy charge related to the 737 Max crashes, accepting a $243 million fine. This decision marks Boeing as a convicted felon in connection to the tragic events that resulted in 346 fatalities. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US NFIB Business Optimism Index - 1000 GMT • US Red Book Index - 1255 GMT • Eurozone's Eurogroup meeting - 0700 GMT • Dutch Consumer Price Index - 0430 GMT • Japan's Machine Tool Orders - 0600 GMT • Japan's Producer Price Index - 2350 GMT

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Publication date:

2024-07-09 07:17:38 (GMT)

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