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
The US construction sector has slowed to a five-year low
The US dollar is gradually forming an uptrend
Trump-Zelenskiy meeting ends, Jackson Hole awaited
GBPUSD keeps August rally on pause
EBC Markets Briefing | Chinese investors awake to bullish stock market
Cryptocurrency market nervousness grows
Gold remains close to USD 3,330 amid geopolitical tensions and Jackson Hole expectations
