Daily Global Market Update

GBP/USD, BTC/USD, OIL/USD declined, while AUD/USD rose. IMF calls for El Salvador to scale back Bitcoin policies. Oil prices surge on Middle East tensions. Gold prices steady as investors reassess Fed rate cut expectations.

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

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