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Daily Global Market Update September 19th, 2024

EUR/USD Remains Stable The EUR/USD pair remained largely unchanged in the last session. The Stochastic RSI indicates that the market is currently overbought. USD/JPY's Minor Upward Correction The USD/JPY pair made a minor upward correction in the last session, gaining 0.1%. The Ultimate Oscillator is currently giving a positive signal. Gold's Decline Against the Dollar Gold fell by 0.5% against the dollar in the last session. The Stochastic RSI is giving a negative signal. NIO Shares Plummet Shares of NIO plummeted 7.7% in the last session. The Commodity Channel Index (CCI) is giving a negative signal. Global Financial Headlines The dollar dropped after the Federal Reserve cut interest rates by half a percentage point, citing great confidence that inflation will continue to recede to the US Central Bank's 2% annual target. This larger-than-usual reduction in borrowing costs followed growing unease about the health of the job market. US stocks closed with modest losses, well off their intraday highs, after the Federal Reserve's decision, which marked its first cut in more than four years. Upcoming Economic Highlights Key economic events to look out for include: • Dutch Unemployment Rate - 0430 GMT • Germany's German Buba Monthly Report - 1000 GMT • Australia's Unemployment Rate - 0130 GMT • UK's GfK Consumer Confidence - 2301 GMT • US Initial Jobless Claims - 1230 GMT • Australia's Employment Change - 0130 GMT

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Publication date:

2024-09-19 07:00:22 (GMT)

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