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Daily Global Market Update August 27th, 2024

Gold's Sideways Movement The gold-dollar pair traded sideways in the last session. The Stochastic RSI is signalling a negative outlook. Euro's Slight Dip Against the Dollar The Euro experienced a slight decrease of 0.2% against the dollar in the last session. The CCI is giving a negative signal. Pound's Downward Correction The pound-dollar pair corrected downwards in the last session, falling 0.1%. The Williams indicator suggests an overbought market. Bitcoin's Sharp Decline The Bitcoin-dollar pair dove 1.3% in the last session. The Williams indicator suggests an overbought market. Global Financial Headlines World equity markets edged lower as markets suggested the likelihood of US interest rates being lowered soon, even as oil prices jumped amid increased tensions in the Middle East. The benchmark S&P 500 Index and the NASDAQ gave up early gains and traded lower, while the Dow climbed. Cryptocurrency investors have been increasingly purchasing Bitcoin-related exchange-traded products amid concerns over potentially looming interest rate cuts. In September, digital asset investment products saw weekly inflows worth $533 million from August 18th to August 24th. Nvidia is likely to report that its second-quarter revenue more than doubled, but investors used to its blockbuster results will be expecting even more from the artificial intelligence chip giant, as any miss on expectations could hurt the company's shares. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US Consumer Confidence - 1400 GMT • US Redbook Index - 1255 GMT • US S&P Case-Shiller Home Price Indices - 1300 GMT • Irish Consumer Confidence - 0100 GMT • Finland's Industrial Confidence - 0500 GMT • Germany's Gross Domestic Product - 0600 GMT

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Publication date:

2024-08-27 06:13:39 (GMT)

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