Daily Global Market Update

The British Pound gained against the US dollar, while Bitcoin reversed its gains and closed lower. Oil prices continued to climb, and the Australian dollar saw a minor increase. Global stocks dipped after US inflation data, potentially impacting future interest rate decisions.

Pound's Gains Against the Dollar

The GBP/USD pair saw an increase of 0.4% in the last session. According to the CCI, we are currently in an overbought market.

 

 

Bitcoin's Volatility

The Bitcoin/USD pair declined by 0.4% after initially rising as much as 2.7% during the session. The Rate of Change (ROC) indicator is giving a negative signal.

 

 

Oil's Upward Trend

The oil market saw a 0.5% increase in the last session. The Stochastic RSI indicates a positive outlook.

 

 

AUD/USD's Minor Correction

The AUD/USD pair saw a slight upward correction, gaining 0.1% in the last session. The MACD is currently indicating a positive trend.

 

 

Global Financial Headlines

Coinbase is set to release a new version of its crypto wallet, enhancing accessibility across platforms. Meanwhile, global stock indices dipped, and bond yields fell following US inflation data, potentially influencing future interest rate cuts. Concurrently, oil prices have risen, with Brent oil reaching above $85 a barrel.

 

Upcoming Economic Highlights

Here's a brief rundown of today's anticipated economic releases:

• Japan's Capacity Utilization - 0430 GMT

• Japan's Industrial Production - 0430 GMT

• UK CFTC GBP NC Net Positions - 1930 GMT

• Eurozone's Euro Group Meeting - 0700 GMT

• US Producer Price Index - 1230 GMT

• US Michigan Consumer Sentiment Index - 1400 GMT

Moneta Markets
Type: STP, ECN
Regulation: FCA (UK), FSA (Seychelles), FSCA (South Africa)
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U.S. Stocks Await PCE Data & Nvidia Earnings

U.S. Stocks Await PCE Data & Nvidia Earnings

U.S. GDP revision and PCE Price Index will jointly validate the extent of economic cooling and disinflation. The PCE inflation gauge will directly shape market expectations for the Fed’s rate path, with Core PCE YoY expected to hold at 3.3%. The annualised QoQ GDP revision is forecast to remain at 1.5%. U.S. equities will also closely watch Nvidia’s earnings after market close
ATFX | 4 days ago