Daily Global Market Update
Pound's Significant Rise Against the Dollar
The GBP/USD pair saw a substantial increase, rising 0.7% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.
Bitcoin's Explosive Growth
The BTC/USD pair experienced a remarkable surge, skyrocketing 2.7% in the last session. The Williams %R indicator suggests that we are in an overbought market.
Oil's Sharp Decline
The Oil/USD pair dove 3.1% in the last session. The Stochastic indicator is currently giving a negative signal.
Australian Dollar's Impressive Gain
The AUD/USD pair exploded 1% in the last session. According to the Williams %R indicator, we are in an overbought market.
Global Financial Headlines
Cryptocurrency losses due to hacks and scams have reached an all-time high of $2.1 billion in the first three quarters of 2024, surpassing the total losses in 2023, according to web3 cybersecurity company Cyers. In the US, new orders for key manufactured capital goods unexpectedly rose by 0.2% in August, despite business spending on equipment appearing to lose momentum in the third quarter. Oil prices fell more than 3% following a Financial Times report suggesting that Saudi Arabia may abandon its $100 price target in preparation for increasing output along with OPEC members and allies in December.
Upcoming Economic Highlights
Key economic events to look out for include:
• US Personal Spending - 12:30 GMT
• Japan's Coincident Index - 05:00 GMT
• US Personal Income - 12:30 GMT
• UK CFTC GBP Net Positions - 19:30 GMT
• Japan's Leading Economic Index - 05:00 GMT
• Spain's Gross Domestic Product - 07:00 GMT
Daily Global Market Update
Gold Extends its Gain as Geopolitical Tension Heighten
The pound falls despite an acceleration in inflation
AUD/USD Consolidates After Recent Gains
Gold Gain on Russia-Ukraine Tension
Daily Global Market Update
GBPUSD gains traction near familiar support area
