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Daily Global Market Update, September 16th, 2024

Oil's Slight Decline The oil/dollar pair fell by 0.3% in the last session. The Rate of Change (ROC) indicator is giving a positive signal. Australian Dollar's Movement The AUD/USD pair saw minor fluctuations in the last session. The Williams Percent Range indicator is giving a positive signal. Euro's Sideways Movement The EUR/USD pair traded sideways in the last session. The Stochastic RSI is giving a positive signal. Dollar/Yen Stability The USD/JPY price remained largely unchanged in the last session. The Rate of Change (ROC) indicator is giving a positive signal. Global Financial Headlines The Federal Reserve is in focus next week as uncertainty swirls over interest rate cuts at its monetary policy meeting. The S&P 500 Index is just 1% shy of its July record high. Intel Corp has qualified for up to $3.5 billion in federal grants to make semiconductors for the US Department of Defense. Nvidia's 140% stock surge this year has accounted for about a quarter of the S&P 500's 17.7% gain, raising concerns about market vulnerability. Upcoming Economic Highlights Key economic events to look out for include: • US 3-month Bill auction - 1530 GMT • US 6-month Bill auction - 1530 GMT • Eurozone's trade balance - 0900 GMT • Italy's Consumer Price Index - 0800 GMT • Eurozone's labour cost - 0900 GMT • Italy's trade balance EU - 0900 GMT

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Publication date:

2024-09-16 07:35:12 (GMT)

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