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Daily Global Market Update October 18th, 2024

Pound's Upward Correction The GBP/USD pair made a minor upward correction in the last session, gaining 0.1%. The Stochastic indicator is giving a positive signal. Bitcoin's Decline The Bitcoin/USD pair fell by 0.9% following a 1.3% intraday dip. The MACD is giving a positive signal. Oil's Stability The price of US Crude Oil remained largely unchanged in the last session. The Stochastic RSI indicates an oversold market. Aussie's Gain The Australian dollar gained 0.4% against the US dollar in the last session. The MACD is giving a negative signal. Global Financial Headlines Cumulative flows into spot Bitcoin ETFs have exceeded $20 billion, following four consecutive days of inflows in the US. Oil prices slipped slightly as investors awaited developments in the Middle East, while falling US crude inventories provided some support. Gold prices hit record highs amid uncertainty surrounding the US presidential elections and the Middle East conflict, with an easing monetary policy environment keeping prices elevated. Upcoming Economic Highlights Key economic events to look out for include: • UK's Retail Sales - 6:00 GMT • UK's CFTC GBP NC Net Positions - 19:30 GMT • US Housing Starts - 12:30 GMT • US Monthly Budget Statement - 18:00 GMT • Japan's CFTC JPY NC Net Positions - 19:30 GMT • Eurozone's Current Account - 8:00 GMT

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Publication date:

2024-10-18 06:15:41 (GMT)

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