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Daily Global Market Update 10/05/2024

Pound-Dollar Pair's Upward Correction The pound-dollar pair experienced a minor upwards correction in the last session, gaining 0.2%. The ROC (Rate of Change) is indicating a positive signal. Bitcoin-Dollar Pair's Surge The Bitcoin-dollar pair surged by 2.4% in the last session. The MACD (Moving Average Convergence Divergence) is giving a positive signal. Oil's Gain Against the Dollar Oil gained by 0.3% against the dollar in the last session. The Stochastic RSI is indicating a positive signal. Australian Dollar's Gain The Aussie gained by 0.6% against the dollar in the last session. The ROC is giving a positive signal. Global Financial Headlines Digital Currency Group witnessed a surge in revenue in the first quarter of 2024, driven by the recovery of crypto markets. The crypto conglomerate's revenue jumped 51% year-over-year to $229 million. The Bank of England took another step towards lowering interest rates, with Governor Andrew Bailey expressing optimism about the direction of the economy. The BoE's Monetary Policy Committee voted 7 to 2 to maintain rates at a 16-year high of 5.25%. Oil prices reached a one-week high, supported by data from China and the US indicating potential demand growth in the world's top two crude-consuming nations. Upcoming Economic Highlights Here's a glimpse of today's major economic events: • UK's Industrial Production - 0600 GMT • Austria's Industrial Production - 0700 GMT • US Michigan Consumer Sentiment Index - 1400 GMT • Japan's EC Watchers Survey Current - 0500 GMT • Italy's Industrial Sales - 1000 GMT • UK's Gross Domestic Product - 0600 GMT

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Publication date:

2024-05-10 07:00:50 (GMT)

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