Daily Global Market Update

Oil prices held steady, AUD/USD and EUR/USD pairs traded flat, USD/JPY stalled, US stocks surged on tech earnings. Upcoming economic events include US Dallas Fed Manufacturing and Eurozone Business Climate reports.

Moneta Markets | 21 days ago

Oil Prices Remain Stable

The price of oil saw little change in the last session. The stochastic RSI is indicating a positive signal.

AUD/USD Pair Trades Sideways

The AUD/USD pair showed little movement in the last session. The ROC is giving a mixed signal.

EUR/USD Price Stability

The euro-dollar price remained largely unchanged in the last session. The CCI is giving a positive signal.

USD/JPY Stalls

The dollar-yen price remained largely unchanged in the last session. The Williams indicator suggests an overbought market.

US Stocks Rally on Tech Earnings

US stocks ended the week strong, buoyed by a rally in mega-cap growth stocks following robust quarterly results from technology heavyweights Alphabet and Microsoft. Alphabet breached the $2 trillion market value mark for the first time since November 2021, as investors cheered the Google parent announcing its first-ever dividend and a $70 billion stock buyback. Richly valued US stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report. Amazon is set to report on Tuesday, and Apple on Thursday.

Upcoming Economic Events

Here are today's major economic events:

• US Dallas Fed Manufacturing Business Index - 1430 GMT

• US 3-Month Bill Auction - 1530 GMT

• Eurozone Business Climate - 0900 GMT

• Finland's Consumer Confidence - 0500 GMT

• Japan's Unemployment Rate - 2330 GMT

• Japan's Large Retailer Sales - 2350 GMT

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Daily Global Market Update

EUR/USD fell 0.1%, CCI indicates more downside. Gold rose 0.2%, but is overbought. GBP/USD was static, also overbought. Bitcoin surged 4.3%, may correct soon. Gold prices rose ahead of a US inflation report. Japan's shares hit a 34-year peak. Ripple acquired Standard Custody and Trust.

Moneta Markets | 2h 9min ago

Dollar Rebound on Fed’s Hawkish Tone

In yesterday's market, the U.S. equity market took a breather after all three major indexes had risen more than 5% in May. All eyes are now on Nvidia’s earnings report due on Wednesday, which has the potential to spur the equity market further. In Asia, the Chinese stock markets also saw a retracement, with fresh data indicating that the property sector in China remains a significant concern.

PU Prime | 4h 2min ago

Daily Global Market Update

Oil gained 0.7%. The Australian dollar is overbought but unchanged. The Euro and Dollar-yen traded sideways; the Euro is overbought, and the Dollar-yen has a negative signal. China's gasoline exports hit a low. Japan's Nippon Steel VP will visit the US for a deal. Global stocks rose on potential Fed rate cuts.

Moneta Markets | 23h 42min ago