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Daily Global Market Update August 15th, 2024

Euro/Dollar's Slight Uptick The Euro/Dollar pair made a minor upwards correction in the last session, gaining 0.1%. According to the CCI, we are in an overbought market. Dollar/Yen's Modest Gain The Dollar/Yen pair made a minor upwards correction in the last session, gaining 0.1%. The CCI is giving a positive signal. Gold's Decline Against the Dollar The Gold/Dollar pair fell 0.6% in the last session. The MACD is giving a positive signal. NIO's Sharp Decline Shares of NIO plummeted 4.8% in the last session. The Stochastic indicator is giving a positive signal. Global Financial Headlines The dollar lost ground against its major peers, helping the euro reach an 8-month peak as the US Consumer Price Index showed inflation is subsiding, reinforcing expectations that Federal Reserve interest rate cuts are near. Wall Street's main indices offered a mixed bag on Wednesday as Alphabet and some mega-cap tech stocks traded lower, but the latest inflation data reassured investors betting the Federal Reserve would start cutting US interest rates next month. US consumer prices rose moderately in July, and the annual increase in inflation slowed to below 3% for the first time in nearly three and a half years, opening the door wider for the Federal Reserve to cut interest rates next month. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US Industrial Production - 1315 GMT • Japan's Industrial Production - 0430 GMT • Australia's Employment Change - 0130 GMT • UK's Industrial Production - 0600 GMT • US Retail Sales - 1230 GMT • Japan's Capacity Utilization - 0430 GMT

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Publication date:

2024-08-15 08:30:13 (GMT)

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