Daily Global Market Update

GBP/USD moved sideways; Bitcoin dropped 4.2%, oversold; Oil/USD fell 4.3%, oversold; AUD/USD down 0.6%, CCI negative. Solana surges 177%; Europe's index drops. Oil prices down on US supply and China demand. Upcoming: UK Retail Sales, US Housing Starts, and more.

Pound's Sideways Movement

The GBP/USD pair traded sideways in the last session. The Stochastic indicator's negative signal is at odds with our overall technical analysis.

 

 

Bitcoin's Significant Drop

Bitcoin saw a substantial decline of 4.2% in its last session. The Stochastic RSI suggests that we are in an oversold market.

 

 

Oil's Sharp Decline

The Oil/USD pair experienced a significant drop of 4.3% in the last session. The Stochastic RSI points to an oversold market condition.

 

 

AUD/USD's Moderate Fall

The Australian Dollar fell by 0.6% against the US Dollar in the last session. The CCI is indicating a negative trend.

 

 

Global Financial Headlines

Solana has achieved new yearly highs, gaining more than 177%, following commendations from Ark Invest CEO Kathy Wood for its efficiency and cost-effectiveness. Meanwhile, Europe's benchmark index has seen a decline after a 3-day increase, as hopes for policy tightening and rate cuts have been overshadowed by softening inflation in major economies. In the oil market, prices have dropped due to signs of increased supply from the US and concerns over weak energy demand from China, with Brent Futures falling to $80.

 

Upcoming Economic Highlights

Key economic releases for today include:

• UK's Retail Sales - 0700 hours GMT

• UK's CFTC GBP NC Net Positions - 2030 GMT

• US Housing Starts - 1330 GMT

• Japan's CFTC JPY NC Net Positions - 2030 GMT

• Eurozone's Harmonized Index of Consumer Prices - 1000 GMT

• US Baker Hughes US Oil Rig Count - 1800 GMT

Moneta Markets
Type: STP, ECN
Regulation: FCA (UK), FSA (Seychelles), FSCA (South Africa)
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