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Daily Global Market Update October 1st 2024

Gold's Decline in the Market Gold fell by 1% against the dollar in the last trading session. The MACD is currently giving a positive signal, which contrasts with the recent price movement. Euro's Downward Movement The EUR/USD pair experienced a decline, dropping 0.3% in the last session. The Ultimate Oscillator is currently signalling a negative trend. Pound's Sideways Movement The GBP/USD pair traded sideways in the last session. The RSI is giving a negative signal, suggesting potential downward pressure. Bitcoin's Significant Drop Bitcoin paired with the dollar plummeted by 2.8% in the last session. The Williams Percent Range indicator is giving a negative signal, aligning with the recent price movement. Global Financial Headlines Wall Street's main indexes were flat to lower in choppy trading as investors paused after the previous week's rally. Caution prevailed ahead of numerous job reports and comments from Federal Reserve policymakers, including Chair Jerome Powell. The native cryptocurrency of the bankrupt crypto exchange FTX has seen bullish action amid looming bankruptcy distributions, with FTX token surging by more than 70% to multi-month highs. China's stock markets have been on a tear since Beijing rolled out a flurry of stimulus measures last week and over the weekend to boost the beaten-down market and revive a slowing economy. The Blue Chip CSI300 index closed up 8.4% to its highest level in more than a year. Upcoming Economic Highlights Key economic events to look out for include: • Japan's Jibun Bank Manufacturing PMI - 0030 GMT • Japan's Monetary Base - 2350 GMT • US ISM Manufacturing Employment Index - 1400 GMT • US ISM Manufacturing PMI - 1400 GMT • Australia's Retail Sales - 0030 GMT • Dutch Retail Sales - 0430 GMT

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Publication date:

2024-10-01 06:32:05 (GMT)

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