Daily Global Market Update
Pound Dollar's Static Movement
The pound dollar pair remained largely unchanged in the last session. Despite the static price movement, the MACD's negative signal seems to contradict our overall technical analysis.
Bitcoin's Minor Decline
Bitcoin fell 0.5% against the dollar in the last session. The Williams indicator suggests an oversold market condition.
Oil Dollar's Sharp Increase
The oil dollar pair saw a significant rise of 2.2% in the last session. The Williams indicator currently indicates an overbought market.
Aussie's Slight Gain
The Australian dollar saw a modest increase of 0.1% against the US dollar in the last session. The Williams indicator is giving a positive signal.
Global Financial Headlines
The newly launched spot Bitcoin exchange-traded funds are witnessing combined negative flows for the first time. This development is attributed to the slower pace of incoming funds in products like BlackRock's iBit and Fidelity's FBTC compared to exits from Grayscale's GBTC. Additionally, German business morale has worsened unexpectedly, signaling potential struggles for Europe's largest economy. Meanwhile, oil prices have risen following a decrease in U.S. crude stockpiles and expectations of economic recovery in China.
Upcoming Economic Highlights
Today’s major economic events include:
• US Personal Spending - 1330 hours GMT
• Japan's Leading Economic Index - 0500 hours GMT
• US Personal Income - 1330 hours GMT
• UK's CFTC GBP NC Net Positions - 2030 hours GMT
• Japan's Coincident Index - 0500 hours GMT
• Germany's GfK Consumer Confidence Survey - 0700 hours GMT
Three-year stagnation in US durable goods orders
USDJPY forming a bottom at 140 with upside potential to 160+
GBP/USD’s bullish streak hits a wall
Dollar benefits amidst a muted risk-on reaction
GBP/USD in a Strong Position: Sterling Rallies on Trade News and Robust Data
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