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Daily Global Market Update September 11th, 2024

Bitcoin's Significant Rise The Bitcoin/USD pair skyrocketed by 1.2% in the last session. However, the MACD is currently giving a negative signal, suggesting potential caution. Meta Stock's Decline Meta stock fell by 0.6% in the last session. The Stochastic indicator is giving a negative signal, aligning with the recent price movement. Australian Dollar's Sideways Movement The AUD/USD pair traded sideways in the last session. The MACD is giving a negative signal, suggesting potential downward pressure. Gold's Modest Gain The Gold/USD pair gained 0.3% in the last session. However, the MACD is giving a negative signal, indicating potential resistance ahead. Global Financial Headlines Global oil benchmark Brent crude futures fell below $70 a barrel for the first time since December 2021 after OPEC+ revised down its demand forecast for this year and 2025. OPEC said in a monthly report that world oil demand would rise by 2.03 million barrels per day in 2024. The dollar slid against major currencies, consolidating Monday's gains ahead of key inflation data and a widely anticipated US presidential debate. United States spot Bitcoin exchange-traded funds saw net inflows of $28.6 million on September 9th, breaking eight consecutive trading days of outflows. BlackRock's iShares Bitcoin Trust also saw its third-ever day of net outflows at $9.1 million. Upcoming Economic Highlights Key economic events to look out for include: • Japan's BSI Large Manufacturing Conditions Index - 2350 GMT • US Consumer Price Index - 1230 GMT • UK's Industrial Production - 0600 GMT • Japan's Foreign Bond Investment - 2350 GMT • UK's Gross Domestic Product - 0600 GMT • Portuguese Consumer Price Index - 1000 GMT

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Publication date:

2024-09-11 05:41:32 (GMT)

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