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The GBP/USD pair traded sideways in the last session. The Stochastic indicator suggests that the market is currently oversold.
The Bitcoin/USD pair plummeted by 1.3% in the last session. The MACD is indicating a negative signal.
The Oil/USD pair rose by 2.8% in the last session, after gaining as much as 3.6% during the session. The Stochastic indicator is giving a positive signal.
The AUD/USD pair gained 0.3% against the dollar in the last session. According to the CCI, the market is currently oversold.
Bitcoin's price action has been negative since the start of the week, with over 63,000 BTC, valued at approximately $11.83 billion, sent to crypto exchanges starting on October 7th. Oil prices jumped about 4% due to a spike in US fuel use before Hurricane Milton hit Florida, along with Middle East supply risks and signs of growing energy demand in the US and China. Gold prices extended gains as traders anticipate a Federal Reserve interest rate cut next month, following the latest US economic data, with spot gold up 0.6%.
Key economic events to look out for include:
The EUR/USD pair experienced a minor downturn, losing 0.2% in the last session. The Stochastic indicator suggests that the market is currently oversold.
The USD/JPY pair saw a significant rise, gaining 0.7% in the last session. The Williams Percent Range indicator suggests that the market is currently overbought.
The Gold/USD pair experienced a slight downward correction, dropping 0.2% in the last session. The MACD is currently signalling a negative trend.
NIO shares saw a notable increase, gaining 2.7% in the last session. However, the Commodity Channel Index (CCI) is giving a negative signal, suggesting potential caution.
The Canadian dollar weakened to a near 8-week low against its US counterpart as oil prices fell and investors reduced their bets on the pace of expected interest rate cuts from the Federal Reserve. The interest rate for the most popular US home loan rose to 6.36% last week, marking the biggest weekly increase in more than a year. This comes after better-than-expected economic data caused financial markets to scale back bets on further Federal Reserve interest rate cuts. European stocks settled higher, bouncing from losses in the previous session as investors focused on upcoming interest rate cuts and a key US inflation report later this week. The continent-wide STOXX 600 index was up 0.6%, with the Automobiles and Parts sector among top gainers with a 1.1% jump.
Key economic events to look out for include:
The Bitcoin/USD pair gained 0.1% in the last session, after rising as much as 1.5% during the session. The Stochastic indicator is currently giving a negative signal.
Meta stock gained 0.5% in the last session. The MACD is currently giving a positive signal.
The AUD/USD pair corrected downwards in the last session, falling 0.1%. The Ultimate Oscillator is giving a negative signal.
Gold fell 0.88% against the dollar in the last trading session. The ROC (Rate of Change) indicator is giving a negative signal.
Gold prices fell over 1%, on track for their biggest drop on a percentage basis in 1.5 months. Recent US employment data lowered expectations for a bigger rate cut, while markets await minutes of the US Federal Reserve's latest policy meeting for fresh signals. The Canadian dollar weakened to a 7-year low against its US counterpart as oil prices fell 4%. Investors are reassessing the outlook for Federal Reserve interest rate cuts. In cryptocurrency news, major exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission, aiming to protect the future of the crypto industry in the country.
Key economic events to look out for include:
The gold/dollar pair experienced a downward correction, falling 0.2% in the last session. The MACD is currently giving a negative signal.
The EUR/USD pair traded sideways in the last session. The Stochastic indicator is giving a negative signal.
The GBP/USD pair fell 0.3% against the dollar in the last trading session. The Ultimate Oscillator is giving a negative signal.
Bitcoin rose 0.7% against the dollar in the last trading session. The Commodity Channel Index (CCI) is giving a positive signal.
US stock indexes fell, pressured by rising Treasury yields as markets recalibrated expectations for the Federal Reserve rate cut. The yield on benchmark 10-year notes exceeded 4% for the first time in two months. Global cryptocurrency adoption is approaching a significant milestone, with 7.51% of the world's population now using digital currencies, according to a report by MatrixPort. The report projects this figure to exceed 8% by 2025. Super Micro Computer announced it is currently shipping more than 100,000 graphics processors per quarter and unveiled a new suite of liquid cooling products, sending the AI server maker's shares up about 14% following a weeks-long slump.
Key economic events to look out for include:
Oil gained 0.7% against the dollar in the last session. The MACD is currently giving a positive signal.
The AUD/USD pair experienced a minor downward correction in the last session, dropping 0.1%. The Williams indicator is giving a negative signal.
The EUR/USD pair traded sideways in the last session. The RSI is giving a negative signal.
The USD/JPY pair traded sideways in the last session. The Stochastic RSI indicates an overbought market.
China-focused hedge funds report explosive returns in September due to a sharp rebound in Chinese stocks, driven by Beijing's aggressive stimulus package. Taiwan's Foxconn posts record Q3 revenue of $57.3 billion, up 20.2% year-on-year, driven by strong demand for AI servers. A high-stakes corporate earnings season begins this week, with investors hoping results will justify rich valuations in the US stock market. Strong US labour market data boosts the case for continued economic growth. The S&P 500 is up 20% year-to-date, nearing record highs.
Key economic events to look out for include:
The GBP/USD pair experienced a sharp decline, falling 1% in the last trading session. The Williams Percent Range indicator suggests that the market is currently oversold.
The BTC/USD pair saw a slight increase of 0.1% in the last session, after reaching gains of up to 1.3% during the session. The RSI is currently signalling a negative trend.
The OIL/USD pair experienced a significant increase, soaring 3.9% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.
The AUD/USD pair declined by 0.6% in the last session. The Rate of Change (ROC) indicator is giving a negative signal.
The International Monetary Fund has renewed calls for El Salvador to scale back its Bitcoin policies and overhaul its regulatory framework surrounding the digital asset. Oil prices have risen significantly, with Brent crude futures up 4.86% and US WTI crude futures up 5.11%, as concerns mount over potential threats to global crude flows due to widening regional conflicts in the Middle East. Gold prices have remained steady, balancing safe-haven demand from escalating Middle East tensions against pressure from a stronger dollar, as investors reassess expectations of another significant interest rate cut from the US Federal Reserve.
Key economic events to look out for include:
The EUR/USD pair experienced a slight decline of 0.1% in the last trading session. The Stochastic RSI indicates that the market is currently oversold.
The USD/JPY pair saw a substantial increase of 1.8% in the last session. The Stochastic RSI suggests that the market is currently overbought.
The Gold/USD pair traded sideways in the last session. The Williams Percent Range indicator suggests that the market is currently overbought.
Apple stock experienced a minor rise of 0.3% in the last session. The Stochastic RSI is currently giving a negative signal.
The dollar reached a 3-week high against the Euro following the ADP National Employment Report, which showed US private payrolls increased more than expected in September. This comes ahead of Friday's highly anticipated jobs data. The S&P 500 and NASDAQ edged higher but remained near two-week lows as investors monitored potential escalations in geopolitical tensions in the Middle East. A recent survey has alleviated concerns about a rapid cooldown in the US labour market. Markets remain cautious as Israel and the US vowed to retaliate after Iran's attack on Israel. The attack has renewed interest in safe-haven assets, and oil prices have surged. However, with uncertainty surrounding the evolving situation in the Middle East, investors are proceeding cautiously, questioning whether Iran's strike marks an escalation or is more of a one-off response to Israel.
Key economic events to look out for include:
The Bitcoin/USD pair plummeted by 4% in the last trading session. The Stochastic RSI indicates that the market is currently oversold.
NIO shares experienced a gain of 1.9% in the last session. The Stochastic indicator is currently giving a positive signal.
The AUD/USD pair saw a decline of 0.4% in the last session. However, the RSI is currently giving a positive signal.
The Gold/USD pair skyrocketed by 1% in the last session. However, the Stochastic RSI is currently giving a negative signal.
Gold prices surged over 1% due to increased safe-haven demand as fears of a full-scale war in the Middle East escalated following Iran's launch of ballistic missiles at Israel. Spot gold gained 1%. Safe-haven currencies strengthened in response to Iran's missile attack on Israel, while the dollar also firmed on data showing a resilient US labour market. The Dollar Index rose 0.45%. In the cryptocurrency sector, the third quarter of 2024 has seen a decrease in the total number of reported crypto hacks, but a spike in the value of assets stolen. The overall financial damage surged by approximately 99.5%, with a total of 753 million dollars taken from investors across 155 incidents.
Key economic events to look out for include:
Gold fell by 1% against the dollar in the last trading session. The MACD is currently giving a positive signal, which contrasts with the recent price movement.
The EUR/USD pair experienced a decline, dropping 0.3% in the last session. The Ultimate Oscillator is currently signalling a negative trend.
The GBP/USD pair traded sideways in the last session. The RSI is giving a negative signal, suggesting potential downward pressure.
Bitcoin paired with the dollar plummeted by 2.8% in the last session. The Williams Percent Range indicator is giving a negative signal, aligning with the recent price movement.
Wall Street's main indexes were flat to lower in choppy trading as investors paused after the previous week's rally. Caution prevailed ahead of numerous job reports and comments from Federal Reserve policymakers, including Chair Jerome Powell. The native cryptocurrency of the bankrupt crypto exchange FTX has seen bullish action amid looming bankruptcy distributions, with FTX token surging by more than 70% to multi-month highs. China's stock markets have been on a tear since Beijing rolled out a flurry of stimulus measures last week and over the weekend to boost the beaten-down market and revive a slowing economy. The Blue Chip CSI300 index closed up 8.4% to its highest level in more than a year.
Key economic events to look out for include:
The Oil/USD pair skyrocketed by 1.9% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.
The AUD/USD pair experienced a minor downward correction, dropping 0.1% in the last session. The ROC indicator is giving a positive signal, despite the recent dip.
The EUR/USD pair traded sideways in the last session. The MACD is currently giving a positive signal, suggesting potential upward momentum.
The USD/JPY pair traded sideways in the last session. The ROC indicator is giving a positive signal, indicating potential strength in the pair.
The Federal Reserve is likely to deliver a second 50 basis point interest rate cut in November, according to traders' expectations. This follows a government report showing US inflation has cooled to a pace near the central bank's 2% goal. Volkswagen has cut its annual outlook for the second time in less than three months, citing weaker-than-expected performance in its passenger car division. This highlights the increasing pressure on Europe's top automaker. Investor hopes for a soft landing for the US economy will be tested next week as the government releases closely watched labour market data. This comes after a series of disappointing jobs reports. Wall Street's benchmark S&P 500 Index is up 20% year-to-date, near a record high. The index is on track for its strongest January to September performance since 1997.
Key economic events to look out for include:
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