Daily Global Market Update
Bitcoin's Significant Surge
The Bitcoin/USD pair skyrocketed by 4.1% in the last session. The Ultimate Oscillator is giving a positive signal.
Meta's Upward Movement
Meta shares rose by 1.7% in the last session. The CCI is giving a positive signal.
Aussie's Decline
The Aussie dropped 0.3% against the dollar in the last session. The Stochastic indicator is giving a negative signal.
Gold's Record High
The Gold/USD pair skyrocketed by 1% in the last session. The CCI indicates an overbought market.
Global Financial Headlines
Gold prices hit a record high due to uncertainties surrounding the US presidential election and the Middle East conflict, along with expectations of an interest rate cut by the Federal Reserve. The dollar reached three-month highs against the Yen but remained stable against most majors as traders await next week's US election and a slew of incoming economic data. Alameda Research, a subsidiary of the bankrupt crypto exchange FTX, has initiated legal action against Qoin to recover over $50 million in locked assets, according to an October 28th filing. The funds have been frozen by the crypto exchange Qoin since FTX's collapse in November 2022.
Upcoming Economic Highlights
Key economic events to look out for include:
• Germany's Unemployment Change - 0855 GMT
• US ADP Employment Change - 1215 GMT
• Japan's Retail Trade - 2350 GMT
• Japan's Large Retailer Sales - 2350 GMT
• Australia's Consumer Price Index - 0030 GMT
• French Gross Domestic Product - 0630 GMT
Inflation in the US will not make the Fed's rate cut in September comfortable
Gold approached the upper limit of the 4-month trading range
Dollar extends slide ahead of PCE inflation data
September Market Insights: How Volatility, Institutional Flows, and Global Trends Shape Fall Trading
While the dollar is confused, the S&P 500 faces NVIDIA’s rebalancing threat
August was the best month for gold since April
EBC Markets Briefing | Aussie dollar stalls on US GDP beat
