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Daily Global Market Update October 2nd, 2024

Bitcoin's Significant Decline The Bitcoin/USD pair plummeted by 4% in the last trading session. The Stochastic RSI indicates that the market is currently oversold. NIO's Positive Performance NIO shares experienced a gain of 1.9% in the last session. The Stochastic indicator is currently giving a positive signal. Australian Dollar's Decline The AUD/USD pair saw a decline of 0.4% in the last session. However, the RSI is currently giving a positive signal. Gold's Significant Rise The Gold/USD pair skyrocketed by 1% in the last session. However, the Stochastic RSI is currently giving a negative signal. Global Financial Headlines Gold prices surged over 1% due to increased safe-haven demand as fears of a full-scale war in the Middle East escalated following Iran's launch of ballistic missiles at Israel. Spot gold gained 1%. Safe-haven currencies strengthened in response to Iran's missile attack on Israel, while the dollar also firmed on data showing a resilient US labour market. The Dollar Index rose 0.45%. In the cryptocurrency sector, the third quarter of 2024 has seen a decrease in the total number of reported crypto hacks, but a spike in the value of assets stolen. The overall financial damage surged by approximately 99.5%, with a total of 753 million dollars taken from investors across 155 incidents. Upcoming Economic Highlights Key economic events to look out for include: • US ADP Employment Change - 12:15 GMT • US MBA Mortgage Applications - 11:00 GMT • Eurozone Unemployment Rate - 09:00 GMT • Spain's Unemployment Change - 07:00 GMT • Japan's Consumer Confidence Index - 05:00 GMT • Japan's Foreign Bond Investment - 23:50 GMT

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Publication date:

2024-10-02 10:24:13 (GMT)

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