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Daily Global Market Update 03/04/2024

Bitcoin's Recent Decline Bitcoin's value against the US dollar plummeted by 5.7% in the last trading session. The Relative Strength Index (RSI) is currently signaling a negative outlook. Alibaba's Stock Performance Alibaba's stock rose by 0.4% in the last session. The Rate of Change (ROC) indicator is giving a negative signal, aligning with our overall technical analysis. Australian Dollar's Performance The Australian dollar rose by 0.4% against the US dollar in the last trading session. The Williams indicator is giving a positive signal. Gold's Recent Surge The gold-dollar pair surged by 1.4% in the last session. The Williams indicator indicates an overbought market. Global Financial Headlines Gold prices rose to a fresh record high as demand for momentum following funds offset a strong US dollar and the possibility of higher US rates. The US dollar was down after hitting its highest in almost 5 months, following a report showing US job openings held steady at higher levels in February. Spot Bitcoin exchange-traded funds witnessed a spike in trading volume in March, reaching $111 billion, nearly three times the trading volume recorded in February, as Grayscale and BlackRock ETFs dominated the market. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US ADP Employment Change - 12:15 GMT • US ISM Services PMI - 14:00 GMT • Eurozone's Harmonized Index of Consumer Prices - 09:00 GMT • Eurozone's Unemployment Rate - 09:00 GMT • Japan's Jibun Bank Services PMI - 00:30 GMT • Japan's Foreign Bond Investment - 23:50 GMT

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Publication date:

2024-04-03 10:18:32 (GMT)

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