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Daily Global Market Update November 7th, 2024

Euro's Sharp Decline The EUR/USD pair plummeted by 1.6% in the last session. The Stochastic indicator is giving a positive signal. Yen's Significant Rise The USD/JPY pair surged by 1.9% in the last session. The Stochastic RSI is giving a positive signal. Gold's Steep Drop The Gold/USD pair plummeted by 2.9% in the last session. The MACD is giving a negative signal. Apple's Modest Gain Apple shares gained 0.5% in the last session. The Stochastic indicator is giving a negative signal. Global Financial Headlines The dollar soared to a 4-month high after Republican Donald Trump won the US presidential election, with policies expected to spur higher US growth and inflation. US stocks soared to record highs, with the Dow Industrials, S&P 500, and NASDAQ Composite all hitting record highs. President-elect Donald Trump's return to the White House appears to slow the Federal Reserve's path for interest rate cuts, with new policies poised to boost the economy and potentially reverse the slowdown in inflation. Upcoming Economic Highlights Key economic events to look out for include: • US FOMC Press Conference - 1930 GMT • Australia's Exports - 0300 GMT • Japan's Foreign Reserves - 2350 GMT • Japan's 10Y Bond Auction - 0335 GMT • Australia's Trade Balance - 0300 GMT • Germany's Industrial Production - 0700 GMT

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Publication date:

2024-11-07 06:25:00 (GMT)

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