Daily Global Market Update
Pound's Downward Shift
In the last trading session, the British pound declined by 0.5% against the US dollar. Despite this, the MACD indicator is signaling a positive trend, contradicting our overall technical assessment.
Bitcoin's Surge
Bitcoin experienced a significant 2.7% rise in the last session. However, the Williams indicator suggests a negative outlook.
Stable Oil Prices
The oil market remained relatively steady in the last session. The Ultimate Oscillator is currently indicating a negative trend, aligning with our broader market analysis.
Aussie's Decline
During the last session, the Australian dollar fell by 0.6% against the US dollar. The Williams indicator is signaling a negative trend for the AUD/USD pair.
Global Financial Headlines
Cryptocurrency markets recently faced extreme volatility, with Bitcoin and Ethereum's Ether experiencing significant price swings. This led to over $400 million in liquidated open trades, the highest since the August crash. European markets closed higher, driven by strong corporate earnings. The S&P 500 struggled to maintain its momentum, showing little movement. Exxon Mobil Corp surpassed Tesla as the S&P 500's most shorted large-cap stock, according to Hazel tree's report.
Today’s Major Economic Events
Here's a brief overview of the important economic releases for today:
• US Michigan Consumer Sentiment Index - 1500 hours GMT
• US Baker Hughes US Oil Rig Count - 1800 hours GMT
• Finland's Current Account - 0600 hours GMT
• Finland's Industrial Output - 0600 hours GMT
• UK's Gross Domestic Product - 0700 hours GMT
• UK's Industrial Production - 0700 hours GMT