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Daily Global Market Update August 8th, 2024

EUR/USD's Sideways Movement The EUR/USD pair traded sideways in the last session. The Rate of Change (ROC) indicator is giving a positive signal. USD/JPY's Significant Rise The USD/JPY pair skyrocketed 1.3% in the last session. The Williams %R indicator is giving a positive signal. Gold's Sideways Trading The gold-dollar pair traded sideways in the last session. The Rate of Change (ROC) indicator is giving a positive signal. Apple's Stock Gain Apple stock gained 1.4% in the last session after rising as much as 3.2% during the session. The Rate of Change (ROC) indicator is giving a positive signal. Global Financial Headlines The Yen dropped after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors' concerns that a further jump in the Japanese currency could again rock global markets. The Yen fell about 2.5%. US stocks were lower in choppy trading, rising early with technology shares and then falling in tandem with them as investor jitters were stoked by weak demand in a 10-year treasury auction. The S&P 500 was down 0.45%. The interest rate for the most popular US home loan plunged last week to its lowest level in 15 months after the Federal Reserve signalled that it could start cutting its policy rate in September, and a downshift in the job market bolstered financial market bets that cuts would be significant. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US Continuing Jobless Claims - 1230 GMT • US Initial Jobless Claims - 1230 GMT • Irish Consumer Price Index - 1000 GMT • Austrian Trade Balance - 0700 GMT • Japan's Eco Watchers Survey Current - 0500 GMT • Japan's Eco Watchers Survey Outlook - 0500 GMT

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Publication date:

2024-08-08 07:49:34 (GMT)

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