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Daily Global Market Update August 22nd 2024

Euro/Dollar's Slight Uptick The Euro/Dollar pair experienced a minor upward correction, gaining 0.2% in the last session. The MACD is giving a positive signal. Dollar/Yen's Stability The Dollar/Yen price remained largely unchanged in the last session. The Stochastic indicator is giving a negative signal. Gold's Sideways Movement The Gold/Dollar pair traded sideways in the last session. The ROC is giving a positive signal. Google's Stock Rise Google shares rose by 0.4% in the last session. The ROC is giving a negative signal. Global Financial Headlines The pound steadied near the one-year high it touched against the dollar the previous day, with the US currency under pressure from rising expectations of Federal Reserve interest rate cuts. The S&P 500 and the NASDAQ edged up as a sharp downward revision in US jobs data for the year ended March 2024 indicated a slowdown in the labour market, propping up hopes the Federal Reserve would cut interest rates this month. Gold prices eased with investors looking forward to the minutes from the US Federal Reserve's latest policy meeting for more cues on interest rate cuts. Spot gold was down 0.2%. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • UK's GfK Consumer Confidence - 2301 GMT • Belgian Consumer Confidence Index - 0900 GMT • Eurozone's Consumer Confidence - 1400 GMT • US Initial Jobless Claims - 1230 GMT • US Continuing Jobless Claims - 1230 GMT • Japan's Jibun Bank Manufacturing PMI - 0030 GMT

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Publication date:

2024-08-22 07:54:16 (GMT)

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