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Daily Global Market Update July 16th, 2024

Gold's Positive Trend Continues Gold experienced a 0.5% increase against the dollar in the last session. The RSI is giving a positive signal, suggesting further potential gains. EUR/USD Market Stalls The EUR/USD pair traded sideways in the last session. The MACD is giving a positive signal, indicating stability in the current trend. GBP/USD in Overbought Territory The GBP/USD pair traded sideways in the last session, with the Stochastic indicator signalling that the market is overbought. Bitcoin Surges Bitcoin soared by 4.6% against the dollar in the last session. The Stochastic indicator is giving a strong positive signal, highlighting bullish momentum. Global Financial Headlines Wall Street continues to react positively, with stock indices climbing higher due to favourable political developments and increased investor confidence in digital assets. Notably, Apple's stock reached a new high, driven by promising developments in AI technology. Upcoming Economic Highlights Today's key economic events include the US retail sales report, several important surveys from Germany and Japan, and updates on US import and export prices. • US Retail Sales - 1230 GMT • Eurozone Eco Fin Meeting - 0700 GMT • Japan's Tertiary Industry Index - 0430 GMT • Germany's ZEW Survey Current Situation - 0900 GMT • Export Price Index - 1230 GMT • US Import Price Index - 1230 GMT

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Publication date:

2024-07-16 05:52:26 (GMT)

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