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The Bitcoin/USD pair skyrocketed by 1.4% in the last session. However, the Commodity Channel Index (CCI) is currently giving a negative signal.
Alibaba shares rose by 1.1% in the last session. The Williams Percent Range indicator suggests that we are currently in an overbought market.
The AUD/USD pair rose 0.8% in the last session. The Ultimate Oscillator is currently giving a positive signal.
The Gold/USD pair exploded by 1.1% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.
OPEC has raised its forecast for world oil demand in the medium and long term, citing growth led by India, Africa, and the Middle East, as well as a slower shift to electric vehicles and cleaner fuels. China's yuan hit a 16-month high against the US dollar after the central bank revealed new stimulus measures. The Celsius Network's native tokens surged by over 300% a month after initiating a $2.5 billion repayment scheme for more than 250,000 creditors.
Key economic events to look out for include:
Gold gained 0.3% against the dollar in the last session. The Rate of Change (ROC) indicator is giving a positive signal.
The EUR/USD pair fell 0.4% in the last trading session. The Williams Percent Range indicator is giving a negative signal.
The GBP/USD pair experienced a slight increase of 0.2% in the last session. The Ultimate Oscillator is giving a positive signal.
The BTC/USD pair dropped 0.2% in the last session after rising as much as 1.8% during the session. The Rate of Change (ROC) indicator is giving a negative signal.
Wall Street's main indexes rose as investors assessed whether a trend will develop in the week following the Federal Reserve's rate cut. The gains come amid comments from Fed policymakers and steady factory activity data, building on last week's sharp market rally after the central bank's decision to lower interest rates. Chinese Bitcoin miners still control the lion's share of the global network despite the country's ban on cryptocurrencies. Over 55% of the Bitcoin mining network is still controlled by Chinese mining pools, according to the CEO of CryptoQuant. Shares of Donald Trump's media company tumbled over 5% to a new low, extending recent losses after restrictions on insider selling expired. Six straight sessions of declines in the company, which is 57% owned by the Republican presidential candidate, have left its market capitalisation at $2.5 billion.
Key economic events to look out for include:
The oil/dollar pair saw a minor upward correction, rising 0.2% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.
The AUD/USD pair traded sideways in the last session. The Moving Average Convergence Divergence (MACD) is currently giving a positive signal.
The EUR/USD pair traded sideways in the last session. The Relative Strength Index (RSI) is giving a positive signal.
The USD/JPY price remained largely unchanged in the last session. The Stochastic indicator is giving a positive signal.
Gold has soared above the $2,600 level for the first time, extending a rally boosted by bets for further US interest rate cuts and rising tensions in the Middle East. Shares of FedEx slumped over 15% on Friday, the worst in 2 years, after a dismal first-quarter profit drop due to anaemic economic conditions and an ongoing customer shift towards slower, cheaper deliveries. The S&P 500 hit its first closing all-time high in 2 months after the Fed unveiled a 50 basis point rate cut. However, the roaring rally in US stocks now faces a gauntlet of economic data, looming political uncertainty, and a corporate earnings test in coming weeks.
Key economic events to look out for include:
The GBP/USD pair saw a notable increase, rising 0.6% in the last trading session. The Stochastic RSI indicates that the market is currently overbought.
The BTC/USD pair experienced a significant surge, exploding 1.9% in the last session. The Stochastic RSI is signalling an overbought market.
The Oil/USD pair saw an explosive growth of 2.4% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.
The AUD/USD pair saw a positive movement, rising 0.7% in the last session. The Relative Strength Index (RSI) is giving a positive signal.
Crypto exchange Coinbase has made significant strides in the wrapped Bitcoin market, accumulating nearly 2,000 tokens in circulating supplies just a week after joining the race on September 12th. This rapid growth potentially challenges the dominance of long-established players in the sector. The Bank of England has maintained interest rates at 5%, signalling caution about future cuts. The central bank also refrained from accelerating the reduction of its bond holdings, a move that avoids additional budget pressures for Finance Minister Rachel Reeves. Gold prices have surged over 1% following the U.S. Federal Reserve's decision to launch its monetary easing cycle with a half percentage point move. This boost has propelled bullion to an all-time high, just shy of the key $2,600 ceiling in the previous session.
Key economic events to watch for today include:
The EUR/USD pair remained largely unchanged in the last session. The Stochastic RSI indicates that the market is currently overbought.
The USD/JPY pair made a minor upward correction in the last session, gaining 0.1%. The Ultimate Oscillator is currently giving a positive signal.
Gold fell by 0.5% against the dollar in the last session. The Stochastic RSI is giving a negative signal.
Shares of NIO plummeted 7.7% in the last session. The Commodity Channel Index (CCI) is giving a negative signal.
The dollar dropped after the Federal Reserve cut interest rates by half a percentage point, citing great confidence that inflation will continue to recede to the US Central Bank's 2% annual target. This larger-than-usual reduction in borrowing costs followed growing unease about the health of the job market. US stocks closed with modest losses, well off their intraday highs, after the Federal Reserve's decision, which marked its first cut in more than four years.
Key economic events to look out for include:
The Bitcoin/USD pair experienced a remarkable surge, skyrocketing by 3.55% in the last session. The RSI is currently giving a positive signal, aligning with the overall bullish trend.
Nike shares gained 0.7% in the last session. The Williams %R indicator is giving a positive signal, suggesting potential for further upside.
The Australian Dollar price remained largely unchanged in the last session. However, the RSI is giving a positive signal, indicating potential upward momentum.
The last session saw gold drop 0.5% against the dollar. Despite this decline, the RSI is giving a positive signal, suggesting potential for a rebound.
Oil prices rose by a dollar a barrel as supply disruptions mounted and traders bet on demand growth if the US Federal Reserve lowers borrowing costs this week, as widely expected. The US dollar strengthened against most major currencies following better-than-expected retail sales data, seemingly supporting a less aggressive stance by the Federal Reserve. Tether's stablecoin USDT has surpassed $1 billion in circulating supply on the TON network, underscoring USDT's dominance among US dollar-backed stablecoins and TON chain's rising popularity.
Key economic events to look out for include:
The Gold/USD pair experienced a slight increase of 0.1% in the last trading session. The Commodity Channel Index (CCI) indicates that the market is currently overbought.
The EUR/USD pair saw a notable rise of 0.4% in the last session. However, the Moving Average Convergence Divergence (MACD) is currently signalling a negative trend.
The GBP/USD pair experienced a substantial increase, gaining 0.6% in the last session. The Commodity Channel Index (CCI) suggests that the market is currently overbought.
The BTC/USD pair plummeted by 2.2% in the last session. The Commodity Channel Index (CCI) is indicating a negative signal, aligning with the overall market movement.
Technology stocks weighed on the NASDAQ and the S&P 500 on Monday as cautious investors awaited a crucial monetary policy decision from the Federal Reserve later in the week. Most traders have priced in a significant reduction in borrowing costs. Tether's US dollar-denominated stablecoin now controls 75% of the entire stablecoin market, following substantial adoption over the past two years. Shares of Apple fell nearly 3% after some analysts suggested that delivery times for the new iPhone 16 Pro models indicated weaker-than-expected demand, possibly due to the delayed rollout of key artificial intelligence features.
Key economic events to look out for include:
The oil/dollar pair fell by 0.3% in the last session. The Rate of Change (ROC) indicator is giving a positive signal.
The AUD/USD pair saw minor fluctuations in the last session. The Williams Percent Range indicator is giving a positive signal.
The EUR/USD pair traded sideways in the last session. The Stochastic RSI is giving a positive signal.
The USD/JPY price remained largely unchanged in the last session. The Rate of Change (ROC) indicator is giving a positive signal.
The Federal Reserve is in focus next week as uncertainty swirls over interest rate cuts at its monetary policy meeting. The S&P 500 Index is just 1% shy of its July record high. Intel Corp has qualified for up to $3.5 billion in federal grants to make semiconductors for the US Department of Defense. Nvidia's 140% stock surge this year has accounted for about a quarter of the S&P 500's 17.7% gain, raising concerns about market vulnerability.
Key economic events to look out for include:
The GBP/USD pair gained 0.6% against the dollar in the last session. The Commodity Channel Index (CCI) is giving a positive signal.
The BTC/USD pair skyrocketed 1.4% in the last session. According to the Stochastic RSI, we are in an overbought market.
The Oil/USD pair rose 2.6% in the last session, after gaining as much as 3.5% during the session. The CCI is giving a positive signal.
The AUD/USD pair rose 0.7% in the last session. The Stochastic indicator is giving a negative signal.
Grayscale Investments, a major cryptocurrency investment firm, is debuting a new crypto trust linked to the XRP cryptocurrency. Grayscale officially announced the creation and public launch of Grayscale XRP Trust, which enables investors to gain exposure to XRP. Traders pared back their bets on back-to-back rate cuts from the European Central Bank for the rest of the year as policymakers provided little clarity on how willing they were to double down on monetary easing. Oil prices rose more than 1%, extending a rebound spurred by concerns over Hurricane Francine's impact on US output, though a gloomy demand outlook capped gains. Brent crude futures for November were up $0.95 or 1.4%.
Key economic events to look out for include:
The EUR/USD pair traded sideways in the last session. The Stochastic indicator is giving a negative signal.
The USD/JPY pair traded sideways in the last session. The MACD is giving a negative signal.
The Gold/USD pair made a minor downwards correction in the last session, dropping 0.2%. The Williams Percent Range indicator is giving a negative signal.
The last session saw Volkswagen's stock rise 0.4%. The Stochastic indicator suggests an oversold market.
The US dollar showed mixed performance in choppy trading after data revealed a rise in underlying inflation in August, reinforcing expectations of a smaller 25 basis point interest rate cut by the Federal Reserve next week. Wall Street's main indexes fell following the latest inflation numbers, which dampened hopes for a larger interest rate cut. Meanwhile, odds of Democrat Kamala Harris winning the US Presidency increased after a televised debate. In the energy sector, US crude oil climbed more than $2 a barrel, driven by fears of lengthy production shutdowns in the offshore oil patch as Hurricane Francine approached.
Key economic events to look out for include:
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