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Daily Global Market Update September 29th, 2024

Pound's Significant Rise Against the Dollar The GBP/USD pair saw a substantial increase, rising 0.7% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought. Bitcoin's Explosive Growth The BTC/USD pair experienced a remarkable surge, skyrocketing 2.7% in the last session. The Williams %R indicator suggests that we are in an overbought market. Oil's Sharp Decline The Oil/USD pair dove 3.1% in the last session. The Stochastic indicator is currently giving a negative signal. Australian Dollar's Impressive Gain The AUD/USD pair exploded 1% in the last session. According to the Williams %R indicator, we are in an overbought market. Global Financial Headlines Cryptocurrency losses due to hacks and scams have reached an all-time high of $2.1 billion in the first three quarters of 2024, surpassing the total losses in 2023, according to web3 cybersecurity company Cyers. In the US, new orders for key manufactured capital goods unexpectedly rose by 0.2% in August, despite business spending on equipment appearing to lose momentum in the third quarter. Oil prices fell more than 3% following a Financial Times report suggesting that Saudi Arabia may abandon its $100 price target in preparation for increasing output along with OPEC members and allies in December. Upcoming Economic Highlights Key economic events to look out for include: • US Personal Spending - 12:30 GMT • Japan's Coincident Index - 05:00 GMT • US Personal Income - 12:30 GMT • UK CFTC GBP Net Positions - 19:30 GMT • Japan's Leading Economic Index - 05:00 GMT • Spain's Gross Domestic Product - 07:00 GMT

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Publication date:

2024-09-27 07:02:41 (GMT)

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