Daily Global Market Update

Bitcoin dipped slightly, Tesla and AUD/USD fell. Gold surged amid market volatility. Oil prices dropped but downside limited by Fed rate cut expectations. Global growth to moderate, with risks. Look out for key economic releases today from Japan, US, UK and Austria.

Bitcoin's Slight Dip

Bitcoin dipped a slight 0.1% against the dollar in the last trading session. According to the Stochastic RSI, we are currently in an overbought market.

 

 

Tesla's Stock Gain

Tesla's stock rose by 0.4% in the last session. The Stochastic indicator is signalling a negative outlook.

 

 

AUD/USD Pair's Decline

The AUD/USD pair fell by 0.4% in the last session. The Williams indicator is giving a negative signal.

 

 

Gold's Surge Amid Market Volatility

The gold-dollar pair skyrocketed 1.9% in the last session. According to the RSI, we are in an overbought market.

 

 

Global Financial Headlines

Oil prices settled more than 1% lower, marking the third straight day of losses, driven by concerns over a slowing Chinese economy impacting demand. However, declines were moderated by growing expectations that the US Federal Reserve might start reducing its key interest rate as early as September. The global economy is anticipated to experience modest growth over the next two years, with cooling activity in the US, stabilization in Europe, and stronger consumption and exports in China, although risks remain, according to the International Monetary Fund.

 

Upcoming Economic Highlights

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

• Japan's Imports - 2350 GMT

• US Industrial Production - 1315 GMT

• US Housing Starts - 1230 GMT

• UK's Consumer Price Index - 0600 GMT

• Austria's HICP - 0700 GMT

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