Daily Global Market Update

The GBP, BTC, Oil, and AUD pairs have risen significantly. The Stochastic RSI for GBP and BTC indicates overbought conditions, while the ROC for Oil and RSI for AUD suggest positive market sentiment. Coinbase has made rapid progress in the wrapped Bitcoin market. The Bank of England has maintained interest rates and paused bond holdings reduction.

Pound's Significant Rise Against the Dollar

The GBP/USD pair saw a notable increase, rising 0.6% in the last trading session. The Stochastic RSI indicates that the market is currently overbought.

 

 

Bitcoin's Explosive Growth

The BTC/USD pair experienced a significant surge, exploding 1.9% in the last session. The Stochastic RSI is signalling an overbought market.

 

 

Oil's Remarkable Surge

The Oil/USD pair saw an explosive growth of 2.4% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.

 

 

Australian Dollar's Upward Movement

The AUD/USD pair saw a positive movement, rising 0.7% in the last session. The Relative Strength Index (RSI) is giving a positive signal.

 

 

Global Financial Headlines

Crypto exchange Coinbase has made significant strides in the wrapped Bitcoin market, accumulating nearly 2,000 tokens in circulating supplies just a week after joining the race on September 12th. This rapid growth potentially challenges the dominance of long-established players in the sector. The Bank of England has maintained interest rates at 5%, signalling caution about future cuts. The central bank also refrained from accelerating the reduction of its bond holdings, a move that avoids additional budget pressures for Finance Minister Rachel Reeves. Gold prices have surged over 1% following the U.S. Federal Reserve's decision to launch its monetary easing cycle with a half percentage point move. This boost has propelled bullion to an all-time high, just shy of the key $2,600 ceiling in the previous session.

 

Upcoming Economic Highlights

Key economic events to watch for today include:

• Japan's BOJ Interest Rate Decision - 03:00 GMT

• UK's Public Sector Net Borrowing - 06:00 GMT

• Germany's Producer Price Index - 06:00 GMT

• US Baker Hughes US Oil Rig Count - 17:00 GMT

• Japan's BOJ Monetary Policy Statement - 03:00 GMT

• Eurozone's Consumer Confidence - 14:00 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