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Daily Global Market Update 16/04/2024

Gold's Rise and Euro's Dip The gold-dollar pair gained 0.7% in the last session, but the CCI is signaling a negative outlook, contradicting our overall technical analysis. Euro's Slight Decline The euro-dollar pair saw a minor dip of 0.2% in the last session, with the stochastic indicator signaling a negative trend. Pound's Stable Performance The pound-dollar price remained largely unchanged in the last session. According to the stochastic RSI, we are in an oversold market. Bitcoin's Significant Decline The Bitcoin-dollar pair plummeted by 3.6% in the last session, with the RSI indicating a negative trend. Recent Developments in the Financial World US stocks closed sharply lower as a strong retail sales report was overshadowed by a jump in treasury yields and rising geopolitical tensions between Iran and Israel. The price of Ethereum in USD has more than doubled since switching to proof of stake in September 2022. However, when priced in Bitcoin, the ETH/BTC pair is down roughly 33% since the merge. Tesla is laying off more than 10% of its global workforce as it faces falling sales and an intensifying price war for electric vehicles. Musk last announced job cuts in 2022, hiring over 40,000 people since then. Major Economic Events for Today Here are today's major economic events: • US Housing Starts - 12:30 GMT • Japan's Imports - 23:50 GMT • Germany's ZEW Survey Economic Sentiment - 09:00 GMT • US Industrial Production - 13:15 GMT • UK's Employment Change - 06:00 GMT • UK's Claimant Count Change - 06:00 GMT

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Publication date:

2024-04-16 09:28:40 (GMT)

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