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Daily Global Market Update September 12th, 2024

EUR/USD Sideways Movement The EUR/USD pair traded sideways in the last session. The Stochastic indicator is giving a negative signal. USD/JPY Sideways Trading The USD/JPY pair traded sideways in the last session. The MACD is giving a negative signal. Gold's Minor Downward Correction The Gold/USD pair made a minor downwards correction in the last session, dropping 0.2%. The Williams Percent Range indicator is giving a negative signal. Volkswagen Stock Rise The last session saw Volkswagen's stock rise 0.4%. The Stochastic indicator suggests an oversold market. Global Financial Headlines The US dollar showed mixed performance in choppy trading after data revealed a rise in underlying inflation in August, reinforcing expectations of a smaller 25 basis point interest rate cut by the Federal Reserve next week. Wall Street's main indexes fell following the latest inflation numbers, which dampened hopes for a larger interest rate cut. Meanwhile, odds of Democrat Kamala Harris winning the US Presidency increased after a televised debate. In the energy sector, US crude oil climbed more than $2 a barrel, driven by fears of lengthy production shutdowns in the offshore oil patch as Hurricane Francine approached. Upcoming Economic Highlights Key economic events to look out for include: • US Monthly Budget Statement - 18:00 GMT • Germany's Wholesale Price Index - 06:00 GMT • US Producer Price Index - 12:30 GMT • US Initial Jobless Claims - 12:30 GMT • Spain's Harmonised Index of Consumer Prices - 07:00 GMT • Spain's Consumer Price Index - 07:00 GMT

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Publication date:

2024-09-12 06:33:20 (GMT)

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