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Daily Global Market Update 06/05/2024

Oil-Dollar Pair's Decline The Oil-Dollar Pair's pair experienced a decline of 1.5% in the last session. The Williams indicator suggests an oversold market condition. Aussie Dollar Pair's Sideways Movement The Aussie dollar pair traded sideways in the last session, with the MACD providing a positive signal. Euro-Dollar Pair's Sideways Movement The euro-dollar pair traded sideways in the last session, with the Williams indicator giving a negative signal. Dollar-Yen Pair's Sideways Movement The dollar-yen pair traded sideways in the last session, with the Stochastic RSI indicating an oversold market. Recent Financial News Highlights Oil prices settled lower last week, marking their steepest weekly loss in three months. Weak US jobs data and speculation regarding a Federal Reserve interest rate cut contributed to this downturn. Berkshire Hathaway notably reduced its stake in Apple during the first quarter, as Warren Buffett's conglomerate amassed a record $189 billion cash reserve. Despite this, the company posted a record operating profit exceeding $11 billion. Wall Street closed higher on Friday following a softer than expected employment report, fueling expectations for a Federal Reserve rate cut and demonstrating US economic resilience. All three major US stocks posted robust gains. Upcoming Economic Events Here's a glance at today's significant economic releases: • US 3-Month Bill Auction - 1530 GMT • US 6-Month Bill Auction - 1530 GMT • Spain's Unemployment Change - 0700 GMT • Eurozone's Producer Price Index - 0900 GMT • UK's BRC Like-for-Like Retail Sales - 2301 GMT • China's Caixin Services PMI - 0145 GMT

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Publication date:

2024-05-06 10:55:17 (GMT)

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