

Daily Global Market Update August 28th, 2024

Bitcoin's Sharp Decline The Bitcoin/USD pair plummeted by 1.5% in the last session. The Williams %R indicator is giving a negative signal. Volkswagen's Slight Dip Volkswagen shares fell by 0.5% in the last session. The RSI is giving a positive signal, contrary to the price movement. AUD/USD Pair's Slight Uptick The AUD/USD pair made a minor upwards correction in the last session, gaining 0.2%. The MACD is giving a positive signal, aligning with the recent price movement. Gold's Modest Gain The gold/USD pair rose 0.3% in the last session. The Williams %R indicator suggests an overbought market. Global Financial Headlines Oil prices fell about 2% on concerns that slower economic growth in the US and China could reduce demand for energy, especially after prices surged over 7% during the prior three days. Sterling reached a two-year high against the dollar and also gained on the Euro, supported by expectations that the Bank of England will cut rates less dramatically than the Federal Reserve, while the British economy outperforms the Eurozone. The market capitalisation of artificial intelligence and Big Data cryptocurrency projects and tokens has surged by 79.7% over the past three weeks, reflecting renewed confidence among crypto investors. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • Irish Consumer Confidence - 0600 GMT • Japan's Foreign Bond Investment - 2350 GMT • Eurozone's Euro Group Meeting - 0700 GMT • Japan's Foreign Investment in Japan Stocks - 2350 GMT • US EIA Crude Oil Stock Change - 1430 GMT • US MBA Mortgage Applications - 1100 GMT

Learn more

Publication date:

2024-08-28 07:39:37 (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.