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Daily Global Market Update August 7th, 2024

Bitcoin's Surge Bitcoin experienced a 4.2% increase against the dollar in the last session. The Williams indicator is giving a positive signal. Tesla's Sideways Movement Tesla's stock traded sideways in the last session. The RSI is giving a negative signal. AUD/USD Pair Stagnation The Aussie dollar price remained largely unchanged in the last session. The CCI is giving a positive signal. Gold's Decline The gold-dollar pair fell 0.6% in the last trading session. The stochastic indicator is giving a positive signal. Global Financial Headlines Gold prices eased on dollar strength and higher bond yields, although expectations of a US rate cut in September and escalating geopolitical tensions in the Middle East kept uncertainty high. Following last session's sharp retreat, the dollar recovered ground against most major peers, and the Japanese yen steadied around seven-month highs against the US currency. Over half of the 50 largest cryptocurrencies by market capitalisation are in the red, following the biggest crypto selloff in over a year. The entire crypto market saw a $510 billion drop in total market capitalisation. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • Japan's Coincident Index - 0500 GMT • US MBA Mortgage Applications - 1100 GMT • Japan's Current Account - 2350 GMT • Germany's Industrial Production - 0600 GMT • Germany's Trade Balance - 0600 GMT • UK's RICS Housing Price Balance - 2301 GMT

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Publication date:

2024-08-07 07:49:22 (GMT)

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