Global Markets Report: Key Economic Updates and Market Movements: This week, global markets were influenced by major economic data releases,
including Japan’s GDP, China and the U.S. inflation indicators, and the ECB interest rate decision.
This report analyzes key markets, including significant indices, currency pairs, and commodities.

Content

Economic Calendar

Dow Jones

USDJPY

Gold

EURUSD

Bitcoin

Economic Calendar

Monday, September 9, 2024

02:50 JPY GDP (Quarterly) (Q2)

04:30 CNY Consumer Price Index (Monthly)(Yearly) (August)

Wednesday, September 11, 2024

09:00 GBP GDP (Monthly) (July)

15:30 USD Core Consumer Price Index (Excluding Food and Energy) (Monthly) (August)

17:30 USD U.S. Crude Oil Inventories

Thursday, September 12, 2024

15:15 EUR ECB Interest Rate Decision (September)

15:30 USD Producer Price Index (Monthly)(Yearly) (August)

Dow Jones

The Dow Jones index saw sharp declines at the end of last week’s trading following U.S. labor market news.
Although the data was better than the previous month, it still indicates a decline in the U.S. job market.
The index reached 40,345 after breaking the 40,609 level, supporting continued downward movements targeting 39,268. After that,
new upward moves could emerge, especially as the U.S. Federal Reserve approaches the start of rate cuts.

USDJPY

The USDJPY is trading at its lowest level of the year, reaching 142.23 due to continued weakness
in the U.S. dollar, and the possibility that the Japanese
central bank might hike rates again by the end of the year.
The decline is expected to continue towards 141.60, and if broken and closed below,
Further declines may target the psychological support level at around 140.

Gold

Gold continues sideways trading between 2,470 and 2,530, waiting for clearer signals on the U.S. Federal Reserve’s rate cut series.
Technically, gold is expected to resume its upward trend
if bullish reversal price action appears around the 2,470 level, targeting 2,500 again.

EURUSD

The EURUSD pair trades around 1.1083 after bouncing off the secondary resistance level at 1.1138.
A bullish engulfing candle indicates further downside towards 1.1029. If broken,
the downward trend could continue towards the demand zone around 1.0950,
from which the pair might start a new corrective upward wave.

Bitcoin

Bitcoin has recently experienced substantial declines due to persistent selling pressure
and exits from funds amid the general uncertainty in the cryptocurrency market.
Bitcoin is trading at 53,695, with movements indicating continued declines towards the psychological support level of around 50,000,
close to the current year’s low. From there, a corrective upward move towards 54,000 could begin again.

Global Markets Report

Global Markets Report

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