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Daily Global Market Update October 22nd, 2024

Gold's Minor Correction The gold-dollar pair made a minor downwards correction in the last session, dropping 0.1%. According to the RSI, we are in an overbought market. Euro's Decline The Euro fell 0.4% against the dollar in the last session. The Rate of Change (ROC) is giving a negative signal. Pound's Downturn The pound fell 0.5% against the dollar in the last trading session. According to the Williams Percent Range indicator, we are in an oversold market. Bitcoin's Decline The Bitcoin-dollar pair dove 1.9% in the last session. The Stochastic RSI is giving a negative signal. Global Financial Headlines Wall Street lost ground, retreating after a strong rally the previous week as investors awaited earnings from major companies. A jump in treasury yields added pressure, with the yield on the benchmark 10-year bond rising to a 12-week high. Cryptocurrency investment products recorded their biggest inflows since July, hitting the $2.2 billion weekly mark, according to CoinShares. Shares of Spirit Airlines surged as much as 46% after reaching a deal with its credit card processor to extend a debt refinancing deadline by two months until December 23rd. Upcoming Economic Highlights Key economic events to look out for include: • US Redbook Index - 1255 GMT • US API Weekly Crude Oil Stock - 2030 GMT • Dutch Consumer Confidence Adjusted - 0430 GMT • Finland's Unemployment Rate - 0500 GMT • Belgian Consumer Confidence Index - 0900 GMT • UK's Public Sector Net Borrowing - 0600 GMT

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Publication date:

2024-10-22 15:24:26 (GMT)

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