Daily Global Market Update
Pound's Sideways Movement
The GBP/USD pair traded sideways in the last session. The Stochastic indicator suggests that the market is currently oversold.
Bitcoin's Decline
The Bitcoin/USD pair plummeted by 1.3% in the last session. The MACD is indicating a negative signal.
Oil's Significant Rise
The Oil/USD pair rose by 2.8% in the last session, after gaining as much as 3.6% during the session. The Stochastic indicator is giving a positive signal.
Aussie Dollar's Modest Gain
The AUD/USD pair gained 0.3% against the dollar in the last session. According to the CCI, the market is currently oversold.
Global Financial Headlines
Bitcoin's price action has been negative since the start of the week, with over 63,000 BTC, valued at approximately $11.83 billion, sent to crypto exchanges starting on October 7th. Oil prices jumped about 4% due to a spike in US fuel use before Hurricane Milton hit Florida, along with Middle East supply risks and signs of growing energy demand in the US and China. Gold prices extended gains as traders anticipate a Federal Reserve interest rate cut next month, following the latest US economic data, with spot gold up 0.6%.
Upcoming Economic Highlights
Key economic events to look out for include:
• Finland's Current Account - 5 GMT
• UK's Industrial Production - 6 GMT
• US Michigan Consumer Sentiment Index - 14 GMT
• Japan's CFTC JPY NC Net Positions - 1930 GMT
• UK's Gross Domestic Product - 6 GMT
• US Producer Price Index - 1230 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
