Daily Global Market Update
Pound's Rise Against the Dollar
The pound rose by 0.4% against the dollar in the last session. According to the CCI, we are currently in an oversold market.
Bitcoin's Explosive Growth
The Bitcoin-dollar pair exploded by 8.2% in the last session. The Stochastic RSI is signalling a positive outlook.
Oil's Modest Gain
The oil-dollar pair rose by 0.7% in the last session. The MACD is giving a negative signal, contrasting with the price movement.
AUD/USD Pair's Significant Leap
The AUD/USD pair skyrocketed by 1.1% in the last session. The RSI is giving a positive signal, aligning with the overall price movement.
Global Financial Headlines
Global crypto trading volumes on centralised exchanges surged by 19% in July, reaching $4.94 trillion, marking the first increase in trading volumes in 4 months. The average rate on the popular US 30-year mortgage plunged to its lowest level since May 2023, averaging 6.47%, down from 6.73% in the prior week. This follows days of market turbulence resulting from last week's softer-than-expected employment report. Gold prices rose more than 1%, supported by firm safe-haven demand and growing expectations for a sizable interest rate cut from the US Federal Reserve in September. Spot gold rose 1.6%.
Upcoming Economic Highlights
Here's a brief rundown of today's anticipated economic releases:
• US Baker Hughes US Oil Rig Count - 1700 GMT
• Germany's Harmonised Index of Consumer Prices - 0600 GMT
• Germany's Consumer Price Index - 0600 GMT
• Finland's Industrial Output - 0500 GMT
• Japan's CFTC JPY NC Net Positions - 1930 GMT
• UK's CFTC GBP NC Net Positions - 1930 GMT