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Daily Global Market Update 17/05/2024

GBP/USD's Minor Dip The pound dollar pair saw a minor dip of 0.1% in the last session. The RSI is giving a positive signal. Bitcoin's Significant Drop The Bitcoin dollar pair plummeted by 1.2% in the last session. The CCI indicates an overbought market. Oil's Gain Amid Market Stabilization The oil dollar pair gained 0.4% in the last session. The ROC is giving a positive signal. AUD/USD's Decline The Aussie dollar pair fell by 0.3% in the last session. The Williams indicator indicates an overbought market. Global Financial Headlines Venture capital funding rates are soaring as the crypto bull market is back. Aquarius announced the launch of a $600 million liquidity fund to boost on-chain liquidity. GameStop and AMC fell for a second straight session as excitement over Roaring Kitty's social media return fizzles out. Crude prices edged up after data showed a stabilizing US job market, fueling expectations that the Federal Reserve could begin to cut interest rates this autumn, which should stimulate the economy and boost oil demand. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US Baker Hughes US Oil Rig Count - 1700 GMT • Austria's HICP - 0700 GMT • Eurozone's Harmonized Index of Consumer Prices - 0900 GMT • Portuguese Current Account Balance - 1000 GMT • Japan's CFTC JPY NC Net Positions - 1930 GMT • UK's CFTC GBP NC Net Positions - 1930 GMT

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Publication date:

2024-05-17 06:54:34 (GMT)

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