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Daily Global Market Update September 3rd, 2024

Gold's Slight Decline Gold fell by 0.1% against the dollar in the last trading session. Despite the minor decline, the ROC is giving a positive signal. Euro's Upward Trend The EUR/USD pair made a minor upwards correction in the last session, rising 0.2%. The ROC is giving a positive signal. Pound's Mixed Signals The GBP/USD pair experienced a minor upward correction, rising 0.1% in the last session. However, the RSI is giving a negative signal. Bitcoin's Explosive Growth The BTC/USD pair exploded 3.2% in the last session. The ROC is giving a positive signal, aligning with the significant price increase. Global Financial Headlines Share markets fell as investors braced for a data-packed week, culminating in a US jobs report that could influence the Federal Reserve's decision on interest rate cuts. Chinese manufacturing activity sank to a six-month low in August, while Eurozone factories continue to struggle. Cryptocurrency exchange-traded funds accounted for 13 of the 25 largest ETF launches in 2024 by year-to-date inflows. Tesla's China-made electric vehicle sales grew 3% in August from a year earlier, with deliveries of its China-made Model 3 and Model Y vehicles rising 177% from July. Upcoming Economic Highlights Key economic events to look out for include: • US ISM Manufacturing PMI - 14:00 GMT • US ISM Manufacturing Employment Index - 14:00 GMT • US ISM Manufacturing New Orders Index - 14:00 GMT • US ISM Manufacturing Prices Paid - 14:00 GMT • Japan's 10y Bond Auction - 03:35 GMT • Australia's Current Account Balance - 01:30 GMT

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Publication date:

2024-09-03 08:59:58 (GMT)

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