Daily Global Market Update

Gold's Slight Retreat

Gold, paired against the dollar, experienced a minor decline of 0.2%. The Stochastic RSI suggests a positive outlook, potentially indicating an upcoming rise.

Euro-Dollar's Steady Stance

The Euro-Dollar pair exhibited minimal change in the last session. The Relative Strength Index (RSI) is emitting a negative signal, indicating potential downward pressure.

Pound-Dollar's Unchanged Position

The Pound-Dollar pair remained steady in the last session. The Stochastic RSI is giving a positive signal, hinting at possible gains in the near future.

Bitcoin's Sharp Decline

Bitcoin experienced a significant drop of 4.3% against the dollar in the last session. The Commodity Channel Index (CCI) indicates an oversold market, suggesting potential for a rebound.

Global Financial Headlines

US-listed Chinese stocks have plummeted to their lowest levels in over a decade, as Beijing faces challenges in reviving growth and resolving its property market crisis. The NASDAQ Golden Dragon China Index has seen a steep decline of over 14% in 2024. Meanwhile, Bitcoin's price dipped below $40,000 for the first time since December, amidst ongoing selling pressure. The S&P 500, however, achieved a record high close for a second consecutive session, driven by gains in tech stocks.

Upcoming Economic Highlights

Here's a brief overview of today's key economic releases:

• US Red Book Index - 1355 GMT

• US 52-Week Bill Auction - 1630 GMT

• Eurozone Consumer Confidence - 1500 GMT

• Japan's BOJ Monetary Policy Statement - 0300 hours GMT

• Japan's BOJ Interest Rate Decision - 0300 hours GMT

• UK's Public Sector Net Borrowing - 0700 hours GMT