Daily Global Market Update
Pound's Notable Surge
The Pound Dollar pair saw a significant increase, soaring 1.1% in the last session. The Williams Percent Range indicator signals an overbought market condition.
Bitcoin's Minor Correction
Bitcoin experienced a slight upward correction, gaining 0.2% in the last session. Despite this, the Stochastic indicator suggests a negative outlook, contradicting our overall technical analysis.
Oil's Strong Momentum
The Oil Dollar pair experienced a substantial jump, climbing 2.5% in the last session. The RSI indicator is currently projecting a positive trend for this commodity.
Aussie Dollar's Upward Trend
The Aussie Dollar pair increased by 0.4% in the last trading session. The Stochastic RSI indicates a positive signal, suggesting potential upward momentum.
Global Financial Headlines
The cryptocurrency world was shaken by a security breach at Ledger, with assets worth nearly $484,000 stolen. Meanwhile, Japanese Prime Minister Fumio Kishida is grappling with a major political scandal, leading to key cabinet resignations. Oil prices continue their upward trajectory, bolstered by the US Federal Reserve's outlook for lower borrowing costs in 2024.
Upcoming Economic Highlights
Key economic releases for today include:
• US Industrial Production - 1415 hours GMT
• Finland's GDP - 0600 hours GMT
• Japan's Jibun Bank Manufacturing PMI - 0030 hours GMT
• Eurozone's Trade Balance - 1000 hours GMT
• US Capacity Utilization - 1415 GMT
• UK's CFTC GBP NC Net Positions - 2030 GMT
Fed minutes awaited as risk rally eases, dollar extends recovery
New Zealand cut the rate, but not the kiwi
USD/JPY Rises Steadily as Yen Weakens Amid Bond Market Pressures
Crypto market postpones rally
Will Japan’s fiscal restraint stand out as U.S. Credit weakens?
Week 12 of EBC’s Million Dollar Trading Challenge II Was Full of Surprises, Here's Why
ATFX Market Outlook 28th May 2025
