Daily Global Market Update
Pound's Downward Correction
The GBP/USD pair experienced a minor downward correction, falling by 0.1% in the last session. The Stochastic indicator is giving a negative signal, reflecting recent bearish movement in the market.
Bitcoin's Slight Decline
The Bitcoin/USD pair fell by 1.4% in the last session. The Rate of Change (ROC) indicator signals a potential continuation of this downward trend.
Oil's Modest Gain
In the last session, US Crude Oil gained 0.6% against the dollar, with the MACD indicating a negative trend.
Australian Dollar's Downward Move
The AUD/USD pair dropped by 0.3% in the last session. The Stochastic indicator is giving a negative signal, suggesting further potential downside.
World Market Overview
Pepe, an Ethereum-based meme coin, continues to rally, showing a 230% increase from its November low. Meanwhile, US stock markets retreated after monthly Producer Price Index data met expectations with a 0.2% rise in October. Jobless claims fell to 217,000, below the forecast. Oil prices ended slightly higher, supported by a significant drop in US fuel inventories despite demand concerns tied to a strengthening dollar.
Key Upcoming Economic Events
Important upcoming events include:
• US Consumer Price Index (CPI) - 1330 GMT
• UK's GDP Monthly Estimate - 0700 GMT
• Eurozone’s Industrial Production - 1000 GMT
• Japan’s Producer Price Index - 2350 GMT
• Australia's Employment Change - 0130 GMT