Daily Global Market Update

Pound, Bitcoin, Oil, and Aussie Dollar surged, with positive technical indicators. Crypto optimism rises with Trump's re-election, while the Bank of England cut rates. Nvidia hit a record high, and key economic events like Japan's Coincident Index and US Consumer Sentiment are on the horizon.

Pound's Positive Movement

The GBP/USD pair gained 0.7% in the last session. The Stochastic indicator is giving a positive signal.

 

 

Bitcoin's Upward Surge

The Bitcoin/USD pair skyrocketed 1.1% in the last session. The Ultimate Oscillator is giving a positive signal.

 

 

Oil's Market Position

The Oil/USD pair closed 1.2% in the green. According to the Stochastic RSI, we are in an overbought market.

 

 

Aussie Dollar's Strong Performance

The AUD/USD pair exploded 1.5% in the last session. The RSI is giving a positive signal.

 

 

Global Financial Headlines

The 2024 United States presidential election has brought substantial shifts in crypto policy outlooks as Donald Trump prepares to return to the White House for a second term. Crypto advocates, including Coinbase CEO Brian Armstrong, have expressed optimism that the changes may benefit the digital assets industry. The Bank of England cut interest rates for only the second time since 2020, predicting that the British government's first budget would lead to higher inflation and economic growth. Shares of Nvidia rallied to a record high, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House.

 

Upcoming Economic Highlights

Key economic events to look out for include:

• Japan's Coincident Index - 5 GMT

• US Michigan Consumer Sentiment Index - 15 GMT

• US USDA WDE Report - 17 GMT

• UK CFTC GBP NC Net Positions - 20:30 GMT

• Japan's Leading Economic Index - 5 GMT

• French Current Account - 7:45 GMT

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