

Daily Global Market Update 20/03/2024

Bitcoin's Significant Drop The Bitcoin dollar pair saw a sharp decline, plummeting 5.5% in the last session. The Ultimate Oscillator indicates a negative outlook for the market. NIO's Market Turbulence Shares of NIO experienced a significant drop, falling by 4.9% in the last session. The Rate of Change (ROC) indicator signals a negative trend. AUD/USD Pair's Decline The AUD/USD pair fell by 0.3% in the last session. The Stochastic RSI indicates a negative signal, suggesting potential continued downward movement. Gold's Minor Retreat Gold experienced a minor dip of 0.1% against the dollar in the last session. The Commodity Channel Index (CCI) is providing a negative signal, indicating a cautious outlook for gold investors. Global Financial Headlines Gold prices edged lower against a backdrop of a stronger dollar, with investors looking forward to the US Federal Reserve policy meeting for potential clues on interest rate cuts this year. The Swiss National Bank has actively sold foreign currency to support the Swiss franc against imported inflation, with transactions totaling nearly $150 billion in 2023. Bitcoin's price shows signs of recovery from its weekly low, but the upcoming Federal Reserve meeting poses a significant influence on the cryptocurrency market's direction. Today's Major Economic Events The economic calendar today includes the release of the Eurozone's consumer confidence, the US Federal Reserve's interest rate decision, and a press conference by the FOMC. Additionally, data on Japan's exports and merchandise trade balance, as well as the UK's core Consumer Price Index, will be closely watched by investors. • Eurozone's Consumer Confidence - 1500 GMT • US Federal Reserve Interest Rate Decision - 1800 GMT • US FOMC Press Conference - 1830 GMT • Japan's Exports - 2350 GMT • Japan's Merchandise Trade Balance Total - 2350 GMT • UK's Core Consumer Price Index - 0700 GMT

Learn more

Publication date:

2024-03-20 09:51:12 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.