Daily Global Market Update

Bitcoin fell 5.7%, Alibaba rose 0.4% but signals negativity, Australian dollar increased 0.4%, Gold surged 1.4%, Gold hit record highs, Bitcoin ETFs trading volume surged. Upcoming: US ADP Employment, US ISM Services PMI, Eurozone CPI, Eurozone Unemployment Rate, Japan Services PMI, Japan Foreign Bond Investment.
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Bitcoin's Recent Decline

Bitcoin's value against the US dollar plummeted by 5.7% in the last trading session. The Relative Strength Index (RSI) is currently signaling a negative outlook.

 

 

Alibaba's Stock Performance

Alibaba's stock rose by 0.4% in the last session. The Rate of Change (ROC) indicator is giving a negative signal, aligning with our overall technical analysis.

 

 

Australian Dollar's Performance

The Australian dollar rose by 0.4% against the US dollar in the last trading session. The Williams indicator is giving a positive signal.

 

 

Gold's Recent Surge

The gold-dollar pair surged by 1.4% in the last session. The Williams indicator indicates an overbought market.

 

 

Global Financial Headlines

Gold prices rose to a fresh record high as demand for momentum following funds offset a strong US dollar and the possibility of higher US rates. The US dollar was down after hitting its highest in almost 5 months, following a report showing US job openings held steady at higher levels in February. Spot Bitcoin exchange-traded funds witnessed a spike in trading volume in March, reaching $111 billion, nearly three times the trading volume recorded in February, as Grayscale and BlackRock ETFs dominated the market.

 

Upcoming Economic Highlights

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

• US ADP Employment Change - 12:15 GMT

• US ISM Services PMI - 14:00 GMT

• Eurozone's Harmonized Index of Consumer Prices - 09:00 GMT

• Eurozone's Unemployment Rate - 09:00 GMT

• Japan's Jibun Bank Services PMI - 00:30 GMT

• Japan's Foreign Bond Investment - 23:50 GMT

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ATFX Market Outlook 16th May 2025

ATFX Market Outlook 16th May 2025

U.S. retail sales increased at a much weaker rate in April as the pre-tariff scramble to purchase automobiles exhausted itself and shoppers trimmed other spending in the face of growing economic uncertainty. In addition, Federal Reserve Chairman Jerome Powell stated the Fed needs to reconsider its existing employment and inflation paradigm within monetary policy.
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