Daily Global Market Update
Pound Dollar's Deep Dive
The pound-dollar pair experienced a notable drop of 1.1% during the last trading session. According to the Rate of Change (ROC), there is a negative sentiment towards the pair's performance.
Bitcoin's Consecutive Decline
Bitcoin faced a decline of 0.4% against the dollar in its recent session. The Williams indicator suggests the market is in an oversold condition.
Oil's Positive Momentum
The oil-dollar pair marked an elevation of 0.4% in the last trading session. However, the MACD suggests a negative signal.
Aussie's Drastic Fall
The aussie-dollar pair saw a sharp fall of 1.6% in its previous trading session. As indicated by the Williams Indicator, the market is currently oversold.
Global Financial Headlines
Bitcoin has continued its downward streak for five days, now trading below $27,000. The currency is down 2%, with the latest trading session seeing it hover around $26,600. Additionally, the UK economy has seen a slight rebound in August, with a 0.2% growth mainly attributed to the services sector's recovery. On the geopolitical front, in response to Russia's alleged premium pricing on oil relative to the G7 standard, the White House is preparing sanctions targeting Russian oil exports.
Upcoming Economic Highlights
Here are the key economic releases expected today:
• US Michigan Consumer Sentiment Index - 1400 hours GMT
• US Monthly Budget Statement - 1800 hours GMT
• Eurozone's Industrial Production - 0900 hours GMT
• Finland's Gross Domestic Product - 0500 GMT
• Japan's CFTC JPY NC Net Positions - 2030 GMT
• UK's CFTC GBP DNC Net Positions - 2030 GMT
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