Daily Global Market Update
GBP/USD Pair's Sideways Movement
The GBP/USD pair traded sideways in the last session. The ROC is giving a negative signal, aligning with our overall technical analysis.
Bitcoin's Sharp Decline
The Bitcoin-dollar pair plummeted 1% in the last session. The Stochastic indicator is giving a negative signal.
Oil's Minor Dip
The oil-dollar pair saw a minor dip of 0.2% in the last session. The MACD is giving a positive signal, contrary to the overall price movement.
AUD/USD Pair's Decline
The last session saw the Aussie drop 0.6% against the dollar. According to the Stochastic RSI, we are in an overbought market.
Global Financial Headlines
Despite transfers from the Mt. Gox bankruptcy estate and worries of a US Government sell-off, Bitcoin exchange inflows have dropped significantly since early August. After a strong start to the month, US business activity fell to a 4-month low in August, and firms continued to struggle to pass on higher prices to customers, bolstering the likelihood that inflation will stay on a downward trend over the coming months. Oil prices settled up more than 1% as expectations for a US interest rate cut in a few weeks fuelled a rebound after 4 days of price declines. Brent crude futures settled up 1.54%.
Upcoming Economic Highlights
Here's a brief rundown of today's anticipated economic releases:
• US New Home Sales - 1400 GMT
• US Baker Hughes US Oil Rig Count - 1700 GMT
• French Business Climate in Manufacturing - 0645 GMT
• Japan's CFTC JPY NC Net Positions - 1930 GMT
• UK CFTC GBP NC Net Positions - 1930 GMT
• Canada's Retail Sales - 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
