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Daily Global Market Update 08/05/2024

Bitcoin's Recent Movement Bitcoin experienced a slight decline of 0.2% against the dollar in the last session, following a notable rise of 1.8% earlier in the session. The Rate of Change (ROC) indicator is signaling positivity. Amazon's Stock Correction Amazon shares experienced a minor correction, dropping by 0.1% in the last session. However, the Moving Average Convergence Divergence (MACD) indicator is providing a positive signal. Aussie's Decline Against the Dollar The Australian dollar fell by 0.3% against the dollar in the last trading session. The Stochastic Relative Strength Index (RSI) indicates an overbought market. Gold's Drop Amid Dollar Movement Gold experienced a decline of 0.5% against the dollar in the last session. The MACD indicator is giving a negative signal. Global Financial Updates Oil prices closed slightly lower amidst signs of easing supply concerns, while market focus shifted to US stockpiles data due later today. The Canadian dollar weakened against the US dollar due to interest rate differentials, ahead of a key domestic employment report. Bitcoin exchange inflows are at decade lows, following a decline since Bitcoin's all-time highs. Upcoming Economic Releases Here's a glance at today's notable economic events: • Germany's Industrial Production - 0600 GMT • Japan's JP Foreign Reserves - 2350 GMT • UK's RICS Housing Price Balance - 2301 GMT • Finland's Industrial Output - 0500 GMT • US EIA Crude Oil Stocks Change - 1930 GMT • US MBA Mortgage Applications - 1100 GMT

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Publication date:

2024-05-08 08:59:44 (GMT)

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