Daily Global Market Update
Pound-Dollar's Sideways Movement
The pound-dollar pair exhibited a sideways movement in its most recent trading session. An analysis with the Ultimate Oscillator reveals a negative outlook, aligning with the broader technical assessment.
Bitcoin-Dollar's Uptrend
Bitcoin, when juxtaposed with the dollar, surged by 1.5% in the last trading session, having peaked at 2% intraday. The Stochastic RSI suggests an overbought market scenario.
Oil's Explosive Performance
The oil-dollar pair skyrocketed by 2.3% in its latest session. As per the Williams R indicator, the market is currently in an overbought territory.
Aussie Dollar's Static Session
The Aussie dollar remained rather static in the recent session, with the ROC indicating a negative outlook.
Global Financial Headlines
Last month, the world-renowned asset manager, Franklin Templeton, filed for a Bitcoin spot ETF with the SEC. This action joined a series of applications initiated by Black Rock in June. Other notable applicants include Wall Street magnates such as Fidelity, Invesco, Galaxy, and Wisdom Tree. European markets felt a downturn on Thursday, with investors weighing the implications of the Middle Eastern crisis, earnings, and economic data. Japan has been vocal in its plea to Saudi Arabia and other oil-producing nations to augment their supplies. This is an attempt to stabilize the global oil market, especially in the light of the Israeli-Hamas conflict which poses threats to the global economic framework.
Upcoming Economic Highlights
A snapshot of forthcoming economic releases is as follows:
• Belgian Consumer Confidence Index - 0900 hours GMT
• UK's Public Sector Net Borrowing - 0600 hours GMT
• Germany's Producer Price Index - 0600 hours GMT
• UK's Retail Sales data - 0600 hours GMT
• Japan's CFTC JPY NC Positions - 2030 GMT
• US Baker Hughes US Oil Rig Count - 1700 hours GMT