Daily Global Market Update
Gold's Decline
Gold, paired with the dollar, took a downturn of 1.1% in the preceding trading session. The CCI points towards an oversold market condition.
Euro's Recent Tumble
The euro, when paired with the dollar, retreated by 0.8% in its last trading session. The CCI suggests the market is oversold.
Pound's Descent
The pound, against the dollar, witnessed a 0.8% drop during its last trading session. The negative ROC signal aligns with the broader technical analysis.
Bitcoin's Overbought Indications
Bitcoin, in relation to the dollar, recorded a 0.4% drop in its recent trading session. The Stochastic RSI suggests the market is overbought.
World Financial Updates
The ongoing strike by the United Auto Workers against Ford, General Motors, and Stellantis continues into its third week, reportedly costing the U.S. economy nearly $4 billion. Meanwhile, workers are facing wage losses amounting to $325 million. Bitcoin surpassed the $28,000 benchmark, marking its highest value in over a month, with ETF optimism and seasonal factors contributing to this surge. In other news, Tesla’s Q3 sales decelerated, falling 7% from the previous quarter and failing to meet Wall Street's expectations.
Key Economic Announcements
Here's a snapshot of today's awaited economic dispatches:
• U.S JOLTS Job Openings - 1400 hours GMT
• U.S Red Book Index - 1255 GMT
• Spain's Unemployment Change - 0700 hours GMT
• Japan's 10y Bond Auction - 0335 GMT
• Australia's RBA Interest Rate Decision - 0330 GMT
• Australia's RBA Rate Statement - 0330 GMT
Pound Steadies as Markets Await Key US Data
Risk appetite firms up as investors anticipate softer US data
USDCAD steadies as markets brace for US jobs report impact
Pound in Focus Ahead of UK Retail Sales as Majors Brace for Data | 5th September 2025
Ahead of NFP: slowdown, but still growth in the US labour market
Bitcoin is too cautious, XRP is more relaxed
USD/JPY in Equilibrium as Volatility Rises
