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Daily Global Market Update July 3rd, 2024

Bitcoin's Plunge Bitcoin USD experienced a decrease of 1.4% against the dollar in the last session. The Stochastic RSI indicates that we are currently in an overbought market. Nio's Stock Gain Nio's shares rose by 1.6% in the last session. The MACD is giving a positive signal. AUD/USD Minor Bump The AUD/USD pair saw a slight increase of 0.1% in the last session. The Stochastic RSI indicates an overbought market. Gold's Minor Correction The gold-dollar pair experienced a minor decline of 0.1% in the last session. The Stochastic indicator is giving a positive signal. Global Financial Headlines Gold prices edged down as treasury yields held firm, while investors digested comments from Federal Reserve Chair Jerome Powell and looked forward to US jobs data for further signals on US interest rate cuts. Meanwhile, the dollar slipped after Powell's dovish remarks, hinting at possible US interest rate cuts later this year. Notably, over half of the top American hedge funds have now invested in newly launched spot Bitcoin ETFs. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • Australia's Retail Sales - 0130 GMT • Japan's Jibun Bank Services PMI - 0300 GMT • Spain's Unemployment Change - 0700 GMT • US ISM Services PMI - 1400 GMT • Japan's Foreign Bond Investment - 2350 GMT • US ADP Employment Change - 1215 GMT

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Publication date:

2024-07-05 18:12:54 (GMT)

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