Daily Global Market Update

Gold's Mild Correction

In the recent trading session, the gold-dollar pairing underwent a downward adjustment of 0.2%. The Ultimate Oscillator points towards a bullish stance.

Euro's Upward Drive

The last session observed the euro escalating by 0.3% against the dollar. The Williams R indicator suggests a positive market sentiment.

Pound's Bullish Movement

The pound demonstrated a robust performance, rising 0.4% against the dollar in the last session. The stochastic indicator highlights a positive trajectory.

Bitcoin's Phenomenal Surge

Bitcoin, when compared with the dollar, witnessed a substantial 4.5% growth in the last trading session, even reaching an intraday high of 10.6%. The Rate of Change (ROC) affirms a positive sentiment.

Global Financial Headlines

Oil futures registered a drop of more than $1 a barrel. This decline is attributed to the heightened prospects of the US and Venezuela reaching an understanding to alleviate sanctions on Venezuelan crude exports. Moreover, the ongoing Israel-Hamas conflict does not seem to jeopardize oil supplies in the foreseeable future. Binance, a leading currency exchange, announced the suspension of its platform access for newly registered users in the UK. This move followed the cessation of its partnership with a third-party tasked with validating communications on its platform in line with new British regulations. In another significant development, Microsoft-owned LinkedIn confirmed the layoff of nearly 700 employees. The majority of these cuts are from the engineering division, with the finance and human resources departments also affected.

Today's Economic Highlights

Keep an eye out for the following key economic releases scheduled for today:

• US Retail Sales - 12:30 GMT

• Eurozone's EcoFin Meeting - 0700 hours GMT

• Japan's Tertiary Industry Index - 0430 GMT

• US Industrial Production - 13:15 GMT

• Australia's RBA Meeting Minutes - 00:30 GMT

• Eurozone's ZEW Survey (Economic Sentiment) - 0900 hours GMT