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Daily Global Market Update

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Daily Global Market Update

GBP/USD's Significant Decline

The GBP/USD pair experienced a sharp decline, falling 1% in the last trading session. The Williams Percent Range indicator suggests that the market is currently oversold.



Bitcoin's Modest Gain

The BTC/USD pair saw a slight increase of 0.1% in the last session, after reaching gains of up to 1.3% during the session. The RSI is currently signalling a negative trend.



Crude Oil's Dramatic Surge

The OIL/USD pair experienced a significant increase, soaring 3.9% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.



AUD/USD's Downward Movement

The AUD/USD pair declined by 0.6% in the last session. The Rate of Change (ROC) indicator is giving a negative signal.



Global Financial Headlines

The International Monetary Fund has renewed calls for El Salvador to scale back its Bitcoin policies and overhaul its regulatory framework surrounding the digital asset. Oil prices have risen significantly, with Brent crude futures up 4.86% and US WTI crude futures up 5.11%, as concerns mount over potential threats to global crude flows due to widening regional conflicts in the Middle East. Gold prices have remained steady, balancing safe-haven demand from escalating Middle East tensions against pressure from a stronger dollar, as investors reassess expectations of another significant interest rate cut from the US Federal Reserve.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US Average Hourly Earnings - 12:30 GMT
  • US Non-Farm Payrolls - 12:30 GMT
  • Italy's Retail Sales - 09:00 GMT
  • French Industrial Output - 06:45 GMT
  • Japan's CFTC JPY NC Net Positions - 19:30 GMT
  • UK's CFTC GBP NC Net Positions - 19:30 GMT
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Daily Global Market Update

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Daily Global Market Update

Euro's Minor Dip Against the Dollar

The EUR/USD pair experienced a slight decline of 0.1% in the last trading session. The Stochastic RSI indicates that the market is currently oversold.


Dollar Yen's Significant Surge

The USD/JPY pair saw a substantial increase of 1.8% in the last session. The Stochastic RSI suggests that the market is currently overbought.


Gold's Sideways Movement

The Gold/USD pair traded sideways in the last session. The Williams Percent Range indicator suggests that the market is currently overbought.


Apple Stock's Slight Increase

Apple stock experienced a minor rise of 0.3% in the last session. The Stochastic RSI is currently giving a negative signal.


Global Financial Headlines

The dollar reached a 3-week high against the Euro following the ADP National Employment Report, which showed US private payrolls increased more than expected in September. This comes ahead of Friday's highly anticipated jobs data. The S&P 500 and NASDAQ edged higher but remained near two-week lows as investors monitored potential escalations in geopolitical tensions in the Middle East. A recent survey has alleviated concerns about a rapid cooldown in the US labour market. Markets remain cautious as Israel and the US vowed to retaliate after Iran's attack on Israel. The attack has renewed interest in safe-haven assets, and oil prices have surged. However, with uncertainty surrounding the evolving situation in the Middle East, investors are proceeding cautiously, questioning whether Iran's strike marks an escalation or is more of a one-off response to Israel.

Upcoming Economic Highlights

Key economic events to look out for include:

  • US ISM Services PMI - 14:00 GMT
  • Australia's Exports - 01:30 GMT
  • Japan's 10-year Bond Auction - 03:35 GMT
  • Eurozone's Producer Price Index - 09:00 GMT
  • French 10-year Bond Auction - 09:00 GMT
  • Australia's Trade Balance - 01:30 GMT
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Daily Global Market Update

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Daily Global Market Update

Bitcoin's Significant Decline

The Bitcoin/USD pair plummeted by 4% in the last trading session. The Stochastic RSI indicates that the market is currently oversold.



NIO's Positive Performance

NIO shares experienced a gain of 1.9% in the last session. The Stochastic indicator is currently giving a positive signal.



Australian Dollar's Decline

The AUD/USD pair saw a decline of 0.4% in the last session. However, the RSI is currently giving a positive signal.



Gold's Significant Rise

The Gold/USD pair skyrocketed by 1% in the last session. However, the Stochastic RSI is currently giving a negative signal.



Global Financial Headlines

Gold prices surged over 1% due to increased safe-haven demand as fears of a full-scale war in the Middle East escalated following Iran's launch of ballistic missiles at Israel. Spot gold gained 1%. Safe-haven currencies strengthened in response to Iran's missile attack on Israel, while the dollar also firmed on data showing a resilient US labour market. The Dollar Index rose 0.45%. In the cryptocurrency sector, the third quarter of 2024 has seen a decrease in the total number of reported crypto hacks, but a spike in the value of assets stolen. The overall financial damage surged by approximately 99.5%, with a total of 753 million dollars taken from investors across 155 incidents.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US ADP Employment Change - 12:15 GMT
  • US MBA Mortgage Applications - 11:00 GMT
  • Eurozone Unemployment Rate - 09:00 GMT
  • Spain's Unemployment Change - 07:00 GMT
  • Japan's Consumer Confidence Index - 05:00 GMT
  • Japan's Foreign Bond Investment - 23:50 GMT
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Daily Global Market Update

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Daily Global Market Update

Gold's Decline in the Market

Gold fell by 1% against the dollar in the last trading session. The MACD is currently giving a positive signal, which contrasts with the recent price movement.



Euro's Downward Movement

The EUR/USD pair experienced a decline, dropping 0.3% in the last session. The Ultimate Oscillator is currently signalling a negative trend.



Pound's Sideways Movement

The GBP/USD pair traded sideways in the last session. The RSI is giving a negative signal, suggesting potential downward pressure.



Bitcoin's Significant Drop

Bitcoin paired with the dollar plummeted by 2.8% in the last session. The Williams Percent Range indicator is giving a negative signal, aligning with the recent price movement.



Global Financial Headlines

Wall Street's main indexes were flat to lower in choppy trading as investors paused after the previous week's rally. Caution prevailed ahead of numerous job reports and comments from Federal Reserve policymakers, including Chair Jerome Powell. The native cryptocurrency of the bankrupt crypto exchange FTX has seen bullish action amid looming bankruptcy distributions, with FTX token surging by more than 70% to multi-month highs. China's stock markets have been on a tear since Beijing rolled out a flurry of stimulus measures last week and over the weekend to boost the beaten-down market and revive a slowing economy. The Blue Chip CSI300 index closed up 8.4% to its highest level in more than a year.


Upcoming Economic Highlights

Key economic events to look out for include:

  • Japan's Jibun Bank Manufacturing PMI - 0030 GMT
  • Japan's Monetary Base - 2350 GMT
  • US ISM Manufacturing Employment Index - 1400 GMT
  • US ISM Manufacturing PMI - 1400 GMT
  • Australia's Retail Sales - 0030 GMT
  • Dutch Retail Sales - 0430 GMT
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Daily Global Market Update

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Daily Global Market Update

Oil's Significant Rise

The Oil/USD pair skyrocketed by 1.9% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.



Australian Dollar's Minor Correction

The AUD/USD pair experienced a minor downward correction, dropping 0.1% in the last session. The ROC indicator is giving a positive signal, despite the recent dip.



Euro's Sideways Movement

The EUR/USD pair traded sideways in the last session. The MACD is currently giving a positive signal, suggesting potential upward momentum.



Japanese Yen's Stable Performance

The USD/JPY pair traded sideways in the last session. The ROC indicator is giving a positive signal, indicating potential strength in the pair.



Global Financial Headlines

The Federal Reserve is likely to deliver a second 50 basis point interest rate cut in November, according to traders' expectations. This follows a government report showing US inflation has cooled to a pace near the central bank's 2% goal. Volkswagen has cut its annual outlook for the second time in less than three months, citing weaker-than-expected performance in its passenger car division. This highlights the increasing pressure on Europe's top automaker. Investor hopes for a soft landing for the US economy will be tested next week as the government releases closely watched labour market data. This comes after a series of disappointing jobs reports. Wall Street's benchmark S&P 500 Index is up 20% year-to-date, near a record high. The index is on track for its strongest January to September performance since 1997.


Upcoming Economic Highlights

Key economic events to look out for include:

  • Japan's Unemployment Rate - 2330 GMT
  • UK's Gross Domestic Product - 0600 GMT
  • Japan's Annualised Housing Starts - 0500 GMT
  • Germany's Retail Sales - 0600 GMT
  • US Dallas Fed Manufacturing Business Index - 1430 GMT
  • Germany's Harmonised Index of Consumer Prices - 1200 GMT
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Daily Global Market Update

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Daily Global Market Update

Pound's Significant Rise Against the Dollar

The GBP/USD pair saw a substantial increase, rising 0.7% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.



Bitcoin's Explosive Growth

The BTC/USD pair experienced a remarkable surge, skyrocketing 2.7% in the last session. The Williams %R indicator suggests that we are in an overbought market.



Oil's Sharp Decline

The Oil/USD pair dove 3.1% in the last session. The Stochastic indicator is currently giving a negative signal.



Australian Dollar's Impressive Gain

The AUD/USD pair exploded 1% in the last session. According to the Williams %R indicator, we are in an overbought market.



Global Financial Headlines

Cryptocurrency losses due to hacks and scams have reached an all-time high of $2.1 billion in the first three quarters of 2024, surpassing the total losses in 2023, according to web3 cybersecurity company Cyers. In the US, new orders for key manufactured capital goods unexpectedly rose by 0.2% in August, despite business spending on equipment appearing to lose momentum in the third quarter. Oil prices fell more than 3% following a Financial Times report suggesting that Saudi Arabia may abandon its $100 price target in preparation for increasing output along with OPEC members and allies in December.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US Personal Spending - 12:30 GMT
  • Japan's Coincident Index - 05:00 GMT
  • US Personal Income - 12:30 GMT
  • UK CFTC GBP Net Positions - 19:30 GMT
  • Japan's Leading Economic Index - 05:00 GMT
  • Spain's Gross Domestic Product - 07:00 GMT
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Daily Global Market Update

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Daily Global Market Update

Euro's Decline Against the Dollar

The EUR/USD pair dropped 0.5% in the last session. The Stochastic indicator is giving a positive signal, suggesting potential for a reversal.



Dollar Yen's Significant Rise

The USD/JPY pair surged 1.2% in the last session. The MACD is currently giving a positive signal, aligning with the recent price action.



Gold's Stable Performance

The Gold/USD price remained largely unchanged in the last session. According to the Stochastic indicator, we are currently in an overbought market.



Google Stock's Sideways Movement

Google stock traded sideways in the last session. The MACD is giving a positive signal, suggesting potential upward momentum.



Global Financial Headlines

The dollar bounced off a 14-month low against the euro in choppy trading. However, investors are still betting on another large interest rate cut by the Federal Reserve at its November meeting due to weakening labour optimism. The Dow Jones Industrial Average and S&P 500 closed lower, pulling back from recent record highs driven by China's sweeping stimulus package. Investors are now awaiting economic indicators and signals on upcoming interest rate cuts. Shares of former U.S. President Donald Trump's media company rebounded over 6%, bouncing back from all-time lows after restrictions on insider selling expired last week. Trump Media and Technology Group, which is 57% owned by the Republican presidential nominee, has seen a 12% lift over two consecutive days of gains.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US Gross Domestic Product Annualised - 12:30 GMT
  • US Durable Goods Orders - 12:30 GMT
  • Spain's Retail Sales - 07:00 GMT
  • Italy's Consumer Confidence - 08:00 GMT
  • Japan's Tokyo Consumer Price Index - 23:30 GMT
  • Japan's Foreign Bond Investment - 23:50 GMT
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Daily Global Market Update

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Daily Global Market Update

Bitcoin's Significant Surge

The Bitcoin/USD pair skyrocketed by 1.4% in the last session. However, the Commodity Channel Index (CCI) is currently giving a negative signal.



Alibaba's Upward Movement

Alibaba shares rose by 1.1% in the last session. The Williams Percent Range indicator suggests that we are currently in an overbought market.



Australian Dollar's Positive Trend

The AUD/USD pair rose 0.8% in the last session. The Ultimate Oscillator is currently giving a positive signal.



Gold's Explosive Growth

The Gold/USD pair exploded by 1.1% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.



Global Financial Headlines

OPEC has raised its forecast for world oil demand in the medium and long term, citing growth led by India, Africa, and the Middle East, as well as a slower shift to electric vehicles and cleaner fuels. China's yuan hit a 16-month high against the US dollar after the central bank revealed new stimulus measures. The Celsius Network's native tokens surged by over 300% a month after initiating a $2.5 billion repayment scheme for more than 250,000 creditors.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US MBA Mortgage Applications - 11:00 GMT
  • US New Home Sales - 14:00 GMT
  • US EIA Crude Oil Stocks Change - 14:30 GMT
  • US 5-Year Note Auction - 17:00 GMT
  • French Consumer Confidence - 06:45 GMT
  • Japan's BOJ Monetary Policy Meeting Minutes - 23:50 GMT
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Daily Global Market Update

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Daily Global Market Update

Gold's Positive Movement

Gold gained 0.3% against the dollar in the last session. The Rate of Change (ROC) indicator is giving a positive signal.



Euro's Decline Against the Dollar

The EUR/USD pair fell 0.4% in the last trading session. The Williams Percent Range indicator is giving a negative signal.



Pound's Slight Increase

The GBP/USD pair experienced a slight increase of 0.2% in the last session. The Ultimate Oscillator is giving a positive signal.



Bitcoin's Volatile Session

The BTC/USD pair dropped 0.2% in the last session after rising as much as 1.8% during the session. The Rate of Change (ROC) indicator is giving a negative signal.



Global Financial Headlines

Wall Street's main indexes rose as investors assessed whether a trend will develop in the week following the Federal Reserve's rate cut. The gains come amid comments from Fed policymakers and steady factory activity data, building on last week's sharp market rally after the central bank's decision to lower interest rates. Chinese Bitcoin miners still control the lion's share of the global network despite the country's ban on cryptocurrencies. Over 55% of the Bitcoin mining network is still controlled by Chinese mining pools, according to the CEO of CryptoQuant. Shares of Donald Trump's media company tumbled over 5% to a new low, extending recent losses after restrictions on insider selling expired. Six straight sessions of declines in the company, which is 57% owned by the Republican presidential candidate, have left its market capitalisation at $2.5 billion.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US Red Book Index - 1255 GMT
  • Germany's ifo Business Climate - 0800 GMT
  • Japan's Jibun Bank Manufacturing PMI - 0030 GMT
  • US Consumer Confidence - 1400 GMT
  • Australia's RBA Rate Statement - 0430 GMT
  • Germany's ifo Current Assessment - 0800 GMT
Read more

Daily Global Market Update

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Daily Global Market Update

Oil's Minor Upward Correction

The oil/dollar pair saw a minor upward correction, rising 0.2% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.



Aussie Dollar's Sideways Movement

The AUD/USD pair traded sideways in the last session. The Moving Average Convergence Divergence (MACD) is currently giving a positive signal.



Euro's Sideways Trading

The EUR/USD pair traded sideways in the last session. The Relative Strength Index (RSI) is giving a positive signal.



Dollar Yen's Stable Performance

The USD/JPY price remained largely unchanged in the last session. The Stochastic indicator is giving a positive signal.



Global Financial Headlines

Gold has soared above the $2,600 level for the first time, extending a rally boosted by bets for further US interest rate cuts and rising tensions in the Middle East. Shares of FedEx slumped over 15% on Friday, the worst in 2 years, after a dismal first-quarter profit drop due to anaemic economic conditions and an ongoing customer shift towards slower, cheaper deliveries. The S&P 500 hit its first closing all-time high in 2 months after the Fed unveiled a 50 basis point rate cut. However, the roaring rally in US stocks now faces a gauntlet of economic data, looming political uncertainty, and a corporate earnings test in coming weeks.


Upcoming Economic Highlights

Key economic events to look out for include:

  • US 3-month Bill Auction - 1530 GMT
  • US 6-month Bill Auction - 1530 GMT
  • Dutch Gross Domestic Product - 0430 GMT
  • Singapore's Consumer Price Index - 0500 GMT
  • Korea's Producer Price Index Growth - 2100 GMT
  • Australia's RBA Interest Rate Decision - 0430 GMT
Read more

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