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Daily Global Market Update 08/03/2024

Pound/Dollar's Positive Movement The GBP/USD pair rose by 0.5% in the last session. The MACD is giving a positive signal. Bitcoin's Notable Rise The Bitcoin dollar pair rose 1.8% in the last session, after gaining as much as 2.8% during the session. The RSI indicates an overbought market. Oil's Increment Against Dollar Oil gained 0.5% against the dollar in the last session. The Stochastic RSI is giving a negative signal. Aussie's Uplift Against Dollar The AUD/USD pair rose by 0.8% in the last session. According to the CCI, we are currently in an overbought market. Global Financial Headlines Tesla's Bitcoin holdings have sparked renewed discussion in the cryptocurrency community. China's export and import growth exceeded forecasts, signaling a positive turn for global trade and economic recovery. Gold prices have surged to a record high, fueled by US economic data and indications from the Federal Reserve Chair of potential rate cuts. Upcoming Economic Highlights Today's key economic events include the Eurozone's Gross Domestic Product, the UK's NIESR GDP estimate, Germany's Industrial Production, US Average Hourly Earnings, Japan's Eco Watchers Survey Outlook, and the UK's CFTC GBP net positions. • Eurozone's Gross Domestic Product - 1000 GMT • UK's NIESR GDP Estimate - 1200 GMT • Germany's Industrial Production - 0700 GMT • US Average Hourly Earnings - 1330 GMT • Japan's Eco Watchers Survey Outlook - 0500 GMT • UK's CFTC GBP Net Positions - 2030 GMT

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Publication date:

2024-03-08 08:33:36 (GMT)

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