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Daily Global Market Update May 30th, 2024

Euro's Decline Against the Dollar The EUR/USD pair saw a decrease of 0.4% in the last session. The Stochastic indicator is signaling a downward trend. Slight Uptick in the Dollar-Yen Pair The USD/JPY pair experienced a minor increase of 0.1% in the last session. The MACD indicator is giving a positive signal. Gold's Continued Decline The gold-dollar pair fell by 0.9% in the last session. The MACD indicates a bearish trend. Alibaba's Stock Slight Increase Alibaba shares rose by 0.4% in the last session. Despite the gain, the Ultimate Oscillator is giving a bearish signal. Global Financial Headlines Amid concerns that central banks may maintain high interest rates for longer, the Canadian dollar weakened against the US dollar. U.S. stocks declined as treasury yields rose, with utilities among the S&P 500 sectors seeing the largest drops. Meanwhile, following a robust first quarter, the IMF has raised China's growth forecast to 5% this year from 4.6%, though it predicts slower growth in future years. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • US Gross Domestic Product Annualized - 1230 GMT • Eurozone Unemployment Rate - 0900 GMT • Eurozone's Consumer Confidence - 0900 GMT • Japan's Tokyo Consumer Price Index - 2330 GMT • Japan's Unemployment Rate - 2330 GMT

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Publication date:

2024-05-30 07:26:30 (GMT)

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