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Daily Global Market Update September 17th, 2024

Gold's Minor Uptick The Gold/USD pair experienced a slight increase of 0.1% in the last trading session. The Commodity Channel Index (CCI) indicates that the market is currently overbought. Euro's Upward Movement The EUR/USD pair saw a notable rise of 0.4% in the last session. However, the Moving Average Convergence Divergence (MACD) is currently signalling a negative trend. Pound's Significant Gain The GBP/USD pair experienced a substantial increase, gaining 0.6% in the last session. The Commodity Channel Index (CCI) suggests that the market is currently overbought. Bitcoin's Sharp Decline The BTC/USD pair plummeted by 2.2% in the last session. The Commodity Channel Index (CCI) is indicating a negative signal, aligning with the overall market movement. Global Financial Headlines Technology stocks weighed on the NASDAQ and the S&P 500 on Monday as cautious investors awaited a crucial monetary policy decision from the Federal Reserve later in the week. Most traders have priced in a significant reduction in borrowing costs. Tether's US dollar-denominated stablecoin now controls 75% of the entire stablecoin market, following substantial adoption over the past two years. Shares of Apple fell nearly 3% after some analysts suggested that delivery times for the new iPhone 16 Pro models indicated weaker-than-expected demand, possibly due to the delayed rollout of key artificial intelligence features. Upcoming Economic Highlights Key economic events to look out for include: • US Retail Sales - 12:30 GMT • US Industrial Production - 13:15 GMT • Germany's ZEW Survey Current Situation - 09:00 GMT • Germany's ZEW Survey Economic Sentiment - 09:00 GMT • Japan's Exports - 23:50 GMT • Japan's Imports - 23:50 GMT

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Publication date:

2024-09-17 10:24:24 (GMT)

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