

Daily Global Market Update November 8th, 2024

Pound's Positive Movement The GBP/USD pair gained 0.7% in the last session. The Stochastic indicator is giving a positive signal. Bitcoin's Upward Surge The Bitcoin/USD pair skyrocketed 1.1% in the last session. The Ultimate Oscillator is giving a positive signal. Oil's Market Position The Oil/USD pair closed 1.2% in the green. According to the Stochastic RSI, we are in an overbought market. Aussie Dollar's Strong Performance The AUD/USD pair exploded 1.5% in the last session. The RSI is giving a positive signal. Global Financial Headlines The 2024 United States presidential election has brought substantial shifts in crypto policy outlooks as Donald Trump prepares to return to the White House for a second term. Crypto advocates, including Coinbase CEO Brian Armstrong, have expressed optimism that the changes may benefit the digital assets industry. The Bank of England cut interest rates for only the second time since 2020, predicting that the British government's first budget would lead to higher inflation and economic growth. Shares of Nvidia rallied to a record high, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House. Upcoming Economic Highlights Key economic events to look out for include: • Japan's Coincident Index - 5 GMT • US Michigan Consumer Sentiment Index - 15 GMT • US USDA WDE Report - 17 GMT • UK CFTC GBP NC Net Positions - 20:30 GMT • Japan's Leading Economic Index - 5 GMT • French Current Account - 7:45 GMT

Learn more

Publication date:

2024-11-08 06:03:47 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.