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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:
The Bitcoin/USD pair skyrocketed by 1.2% in the last session. However, the MACD is currently giving a negative signal, suggesting potential caution.
Meta stock fell by 0.6% in the last session. The Stochastic indicator is giving a negative signal, aligning with the recent price movement.
The AUD/USD pair traded sideways in the last session. The MACD is giving a negative signal, suggesting potential downward pressure.
The Gold/USD pair gained 0.3% in the last session. However, the MACD is giving a negative signal, indicating potential resistance ahead.
Global oil benchmark Brent crude futures fell below $70 a barrel for the first time since December 2021 after OPEC+ revised down its demand forecast for this year and 2025. OPEC said in a monthly report that world oil demand would rise by 2.03 million barrels per day in 2024. The dollar slid against major currencies, consolidating Monday's gains ahead of key inflation data and a widely anticipated US presidential debate. United States spot Bitcoin exchange-traded funds saw net inflows of $28.6 million on September 9th, breaking eight consecutive trading days of outflows. BlackRock's iShares Bitcoin Trust also saw its third-ever day of net outflows at $9.1 million.
Key economic events to look out for include:
The Gold/Dollar pair gained 0.3% in the last session. The Commodity Channel Index (CCI) is giving a positive signal.
The EUR/USD pair dropped 0.4% in the last session. The Williams Percent Range indicator suggests an oversold market.
The GBP/USD pair dropped 0.4% in the last session. The Ultimate Oscillator is giving a negative signal.
The Bitcoin/Dollar pair skyrocketed 4.8% in the last session. The Stochastic indicator is giving a positive signal.
Wall Street's three major indexes gained more than 1% as investors sought bargains after the previous week's selloff. They are also awaiting inflation reports and the Federal Reserve's next policy decision. Cryptocurrency exchange GVT has secured a contractual agreement of $3.3 billion in monthly trading volume from popular market makers ahead of its anticipated main net launch. Boeing shares rose 3.7% after the plane maker and its biggest union reached a tentative deal covering more than 32,000 workers, marking the first major negotiation by new CEO Kelly Ortberg.
Key economic events to look out for include:
The oil/dollar pair plummeted 1.8% in the last session. The RSI indicates an oversold market.
The AUD/USD pair traded sideways in the last session. According to the Williams indicator, we are in an oversold market.
The EUR/USD price remained largely unchanged in the last session. The ROC is giving a negative signal.
The USD/JPY pair traded sideways in the last session. The MACD is giving a negative signal.
China's central bank held back on buying gold for its reserves for a fourth straight month in August. China's gold holdings stood at 72.8 million fine troy ounces at the end of last month. The value of the gold reserves rose to $182.92 billion compared with $176.49 billion in July. Chrysler parent Stellantis said it is recalling 1.46 million vehicles worldwide due to a software malfunction in the anti-lock brake system that can increase the risk of a crash. The recall includes nearly 1.23 million Ram 1500 trucks from the 2019 and 2021 to 2024 model years in the United States. Uncertainty over the US economy's health is rippling through markets, adding fuel to an already volatile period. Investors are grappling with a shift in Federal Reserve policy, a tight US election, and worries over stretched valuations. US stocks tumbled after closely watched jobs data showed labour market momentum slowing more than expected.
Key economic events to look out for include:
The GBP/USD pair experienced a slight increase, rising 0.2% in the last session. The Stochastic indicator is currently signalling a negative trend.
The BTC/USD pair plummeted by 3% in the last session. The MACD is currently giving a negative signal, aligning with the recent price action.
Oil experienced a marginal increase of 0.1% against the dollar in the last session. The Rate of Change (ROC) indicator is currently giving a negative signal.
The AUD/USD pair gained 0.3% in the last session. However, the Ultimate Oscillator is currently giving a negative signal, suggesting potential caution.
Crypto lobbying has seen a significant increase over the past few years, with key companies like Coinbase driving advocacy efforts to influence US legislators. Coinbase has increased its lobbying expenditure by 3,475% over the past 7 years. In Europe, shares of major luxury goods companies have fallen sharply due to growing concerns over slowing demand in the key Chinese market, following signs of weakening in the world's second-largest economy. OPEC+ has agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in 9 months, adding that it could further pause or reverse the hikes if needed.
Key economic events to look out for include:
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