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Daily Global Market Update July 17th, 2024

Bitcoin's Slight Dip Bitcoin dipped a slight 0.1% against the dollar in the last trading session. According to the Stochastic RSI, we are currently in an overbought market. Tesla's Stock Gain Tesla's stock rose by 0.4% in the last session. The Stochastic indicator is signalling a negative outlook. AUD/USD Pair's Decline The AUD/USD pair fell by 0.4% in the last session. The Williams indicator is giving a negative signal. Gold's Surge Amid Market Volatility The gold-dollar pair skyrocketed 1.9% in the last session. According to the RSI, we are in an overbought market. Global Financial Headlines Oil prices settled more than 1% lower, marking the third straight day of losses, driven by concerns over a slowing Chinese economy impacting demand. However, declines were moderated by growing expectations that the US Federal Reserve might start reducing its key interest rate as early as September. The global economy is anticipated to experience modest growth over the next two years, with cooling activity in the US, stabilization in Europe, and stronger consumption and exports in China, although risks remain, according to the International Monetary Fund. Upcoming Economic Highlights Here's a brief rundown of today's anticipated economic releases: • Japan's Imports - 2350 GMT • US Industrial Production - 1315 GMT • US Housing Starts - 1230 GMT • UK's Consumer Price Index - 0600 GMT • Austria's HICP - 0700 GMT

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Publication date:

2024-07-17 06:13:48 (GMT)

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