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The GBP/USD pair gained 0.6% against the dollar in the last session. The Commodity Channel Index (CCI) is giving a positive signal.
The BTC/USD pair skyrocketed 1.4% in the last session. According to the Stochastic RSI, we are in an overbought market.
The Oil/USD pair rose 2.6% in the last session, after gaining as much as 3.5% during the session. The CCI is giving a positive signal.
The AUD/USD pair rose 0.7% in the last session. The Stochastic indicator is giving a negative signal.
Grayscale Investments, a major cryptocurrency investment firm, is debuting a new crypto trust linked to the XRP cryptocurrency. Grayscale officially announced the creation and public launch of Grayscale XRP Trust, which enables investors to gain exposure to XRP. Traders pared back their bets on back-to-back rate cuts from the European Central Bank for the rest of the year as policymakers provided little clarity on how willing they were to double down on monetary easing. Oil prices rose more than 1%, extending a rebound spurred by concerns over Hurricane Francine's impact on US output, though a gloomy demand outlook capped gains. Brent crude futures for November were up $0.95 or 1.4%.
Key economic events to look out for include:
The EUR/USD pair traded sideways in the last session. The Stochastic indicator is giving a negative signal.
The USD/JPY pair traded sideways in the last session. The MACD is giving a negative signal.
The Gold/USD pair made a minor downwards correction in the last session, dropping 0.2%. The Williams Percent Range indicator is giving a negative signal.
The last session saw Volkswagen's stock rise 0.4%. The Stochastic indicator suggests an oversold market.
The US dollar showed mixed performance in choppy trading after data revealed a rise in underlying inflation in August, reinforcing expectations of a smaller 25 basis point interest rate cut by the Federal Reserve next week. Wall Street's main indexes fell following the latest inflation numbers, which dampened hopes for a larger interest rate cut. Meanwhile, odds of Democrat Kamala Harris winning the US Presidency increased after a televised debate. In the energy sector, US crude oil climbed more than $2 a barrel, driven by fears of lengthy production shutdowns in the offshore oil patch as Hurricane Francine approached.
Key economic events to look out for include:
The Bitcoin/USD pair skyrocketed by 1.2% in the last session. However, the MACD is currently giving a negative signal, suggesting potential caution.
Meta stock fell by 0.6% in the last session. The Stochastic indicator is giving a negative signal, aligning with the recent price movement.
The AUD/USD pair traded sideways in the last session. The MACD is giving a negative signal, suggesting potential downward pressure.
The Gold/USD pair gained 0.3% in the last session. However, the MACD is giving a negative signal, indicating potential resistance ahead.
Global oil benchmark Brent crude futures fell below $70 a barrel for the first time since December 2021 after OPEC+ revised down its demand forecast for this year and 2025. OPEC said in a monthly report that world oil demand would rise by 2.03 million barrels per day in 2024. The dollar slid against major currencies, consolidating Monday's gains ahead of key inflation data and a widely anticipated US presidential debate. United States spot Bitcoin exchange-traded funds saw net inflows of $28.6 million on September 9th, breaking eight consecutive trading days of outflows. BlackRock's iShares Bitcoin Trust also saw its third-ever day of net outflows at $9.1 million.
Key economic events to look out for include:
The Gold/Dollar pair gained 0.3% in the last session. The Commodity Channel Index (CCI) is giving a positive signal.
The EUR/USD pair dropped 0.4% in the last session. The Williams Percent Range indicator suggests an oversold market.
The GBP/USD pair dropped 0.4% in the last session. The Ultimate Oscillator is giving a negative signal.
The Bitcoin/Dollar pair skyrocketed 4.8% in the last session. The Stochastic indicator is giving a positive signal.
Wall Street's three major indexes gained more than 1% as investors sought bargains after the previous week's selloff. They are also awaiting inflation reports and the Federal Reserve's next policy decision. Cryptocurrency exchange GVT has secured a contractual agreement of $3.3 billion in monthly trading volume from popular market makers ahead of its anticipated main net launch. Boeing shares rose 3.7% after the plane maker and its biggest union reached a tentative deal covering more than 32,000 workers, marking the first major negotiation by new CEO Kelly Ortberg.
Key economic events to look out for include:
The oil/dollar pair plummeted 1.8% in the last session. The RSI indicates an oversold market.
The AUD/USD pair traded sideways in the last session. According to the Williams indicator, we are in an oversold market.
The EUR/USD price remained largely unchanged in the last session. The ROC is giving a negative signal.
The USD/JPY pair traded sideways in the last session. The MACD is giving a negative signal.
China's central bank held back on buying gold for its reserves for a fourth straight month in August. China's gold holdings stood at 72.8 million fine troy ounces at the end of last month. The value of the gold reserves rose to $182.92 billion compared with $176.49 billion in July. Chrysler parent Stellantis said it is recalling 1.46 million vehicles worldwide due to a software malfunction in the anti-lock brake system that can increase the risk of a crash. The recall includes nearly 1.23 million Ram 1500 trucks from the 2019 and 2021 to 2024 model years in the United States. Uncertainty over the US economy's health is rippling through markets, adding fuel to an already volatile period. Investors are grappling with a shift in Federal Reserve policy, a tight US election, and worries over stretched valuations. US stocks tumbled after closely watched jobs data showed labour market momentum slowing more than expected.
Key economic events to look out for include:
The GBP/USD pair experienced a slight increase, rising 0.2% in the last session. The Stochastic indicator is currently signalling a negative trend.
The BTC/USD pair plummeted by 3% in the last session. The MACD is currently giving a negative signal, aligning with the recent price action.
Oil experienced a marginal increase of 0.1% against the dollar in the last session. The Rate of Change (ROC) indicator is currently giving a negative signal.
The AUD/USD pair gained 0.3% in the last session. However, the Ultimate Oscillator is currently giving a negative signal, suggesting potential caution.
Crypto lobbying has seen a significant increase over the past few years, with key companies like Coinbase driving advocacy efforts to influence US legislators. Coinbase has increased its lobbying expenditure by 3,475% over the past 7 years. In Europe, shares of major luxury goods companies have fallen sharply due to growing concerns over slowing demand in the key Chinese market, following signs of weakening in the world's second-largest economy. OPEC+ has agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in 9 months, adding that it could further pause or reverse the hikes if needed.
Key economic events to look out for include:
The EUR/USD pair rose by 0.3% in the last trading session. The RSI is currently giving a negative signal.
The USD/JPY pair dove 1.1% in the last session. The Ultimate Oscillator is giving a negative signal.
The Gold/USD pair traded sideways in the last session. The MACD is giving a negative signal.
Tesla's stock skyrocketed 4.1% in the last session. The Ultimate Oscillator is giving a negative signal.
The dollar slipped against most major currencies after July US job openings data signalled a softening labour market, tilting the odds further in favour of larger interest rate cuts by the Federal Reserve. Traders boosted expectations that the Fed will deliver a half a percentage point reduction at its next meeting. MSCI's global equities gauge was lower, and safe-haven assets such as Treasuries and Japan's Yen were in demand after a mixed batch of economic data. Wall Street stock trading was choppy after Tuesday's big selloff. US job openings dropped to a 3.5-year low in July, suggesting the labour market was losing steam but probably not enough for the Federal Reserve to consider a big interest rate cut this month. Job openings had fallen by 237,000 to 7.673 million on the last day of July, the lowest level since January 2021.
Key economic events to look out for include:
The BTC/USD pair experienced a 1.6% drop in the last session, despite rising as much as 1.1% during the session. The Stochastic RSI indicates that the market is currently oversold.
Amazon's shares fell by 0.8% in the last session. However, the MACD is currently giving a positive signal.
The AUD/USD pair dove 1.1% in the last session. The Ultimate Oscillator is giving a negative signal.
The Gold/USD pair corrected downwards in the last session, falling 0.1%. The Stochastic indicator is giving a negative signal.
Gold prices have eased to their lowest in more than a week, pressured by a firm dollar. Investors are awaiting US non-farm payrolls data that could influence the Federal Reserve's September policy meeting. Boeing's annual free cash flow target of $10 billion may be delayed by about 2 years to 2027-2028, according to Wells Fargo, which also downgraded the stock. Shares of the Dow component fell more than 8% to a near 2-year low. In the cryptocurrency market, Cardano prices have not reacted positively in recent years after Charles Hoskinson mentioned something negative about Bitcoin. The ADA/BTC trading pair has declined by 75% almost 2 years after Hoskinson questioned Bitcoin's survivability in an interview.
Key economic events to look out for include:
Gold fell by 0.1% against the dollar in the last trading session. Despite the minor decline, the ROC is giving a positive signal.
The EUR/USD pair made a minor upwards correction in the last session, rising 0.2%. The ROC is giving a positive signal.
The GBP/USD pair experienced a minor upward correction, rising 0.1% in the last session. However, the RSI is giving a negative signal.
The BTC/USD pair exploded 3.2% in the last session. The ROC is giving a positive signal, aligning with the significant price increase.
Share markets fell as investors braced for a data-packed week, culminating in a US jobs report that could influence the Federal Reserve's decision on interest rate cuts. Chinese manufacturing activity sank to a six-month low in August, while Eurozone factories continue to struggle. Cryptocurrency exchange-traded funds accounted for 13 of the 25 largest ETF launches in 2024 by year-to-date inflows. Tesla's China-made electric vehicle sales grew 3% in August from a year earlier, with deliveries of its China-made Model 3 and Model Y vehicles rising 177% from July.
Key economic events to look out for include:
The Oil/USD pair experienced a substantial drop of 2.5% in the last session, despite gaining as much as 1.1% during the session. The Commodity Channel Index (CCI) indicates that the market is currently oversold.
The AUD/USD pair traded sideways in the last session. The Commodity Channel Index (CCI) is currently giving a negative signal.
The EUR/USD pair traded sideways in the last session. The Moving Average Convergence Divergence (MACD) is giving a negative signal.
The USD/JPY price remained largely unchanged in the last session. The Ultimate Oscillator is currently giving a negative signal.
A broadening rally in US stocks is offering an encouraging signal to investors concerned about concentration in technology shares. Markets are awaiting key jobs data and the Federal Reserve's expected rate cuts in September. Inflation in the Eurozone fell to its lowest level in 3 years in August, setting the stage for a further cut in the European Central Bank's interest rates next month, despite an Olympics-driven surge in the price of services. Global stocks edged higher in choppy trading to end last week, marking the fourth consecutive month of gains. This comes despite a bout of heavy selling in early August, buoyed by US economic data that has helped the dollar snap a weeks-long losing streak.
Key economic events to look out for include:
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