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Daily Global Market Update October 28th, 2024

Crude Oil's Significant Decline Oil experienced a notable decline, closing 0.9% lower after an intra-session dip of 1.9%. The RSI indicator is currently showing a negative signal. Australian Dollar's Upward Movement The AUD/USD pair showed a slight upward correction, gaining 0.1% in the last session. The Stochastic indicator is providing a positive signal. Euro's Positive Performance The EUR/USD pair advanced by 0.4% in the last session. The RSI indicator is showing a positive signal. Japanese Yen's Strength The USD/JPY pair saw the dollar decline by 0.5% against the yen in the last trading session. The Williams Percent Range indicator is showing a negative signal. Global Financial Headlines Oil markets remain in focus following Israel's retaliatory strike on Iran, which notably avoided disrupting oil infrastructure and nuclear facilities. Oil futures saw a 4% gain last week amid market uncertainty. China's industrial sector faced challenges with September profits declining 27.1% year-over-year, marking the steepest monthly drop of the year. In technology sector news, Nvidia has surpassed Apple as the world's most valuable company, reaching a market value of $3.53 trillion, slightly above Apple's $3.52 trillion. Upcoming Economic Highlights Key economic events to watch include: • US Dallas Fed Manufacturing Business Index - 1430 GMT • US 3-Month Bill Auction - 1530 GMT • Finland's Consumer Confidence - 0600 GMT • Finland's Industrial Confidence - 0600 GMT • Japan's Jobs Applicants Ratio - 2330 GMT • Japan's Unemployment Rate - 2330 GMT

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Publication date:

2024-10-28 08:48:17 (GMT)

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