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Daily Global Market Update October 8th, 2024

Gold's Downward Correction The gold/dollar pair experienced a downward correction, falling 0.2% in the last session. The MACD is currently giving a negative signal. Euro's Sideways Movement The EUR/USD pair traded sideways in the last session. The Stochastic indicator is giving a negative signal. Pound's Decline Against the Dollar The GBP/USD pair fell 0.3% against the dollar in the last trading session. The Ultimate Oscillator is giving a negative signal. Bitcoin's Upward Movement Bitcoin rose 0.7% against the dollar in the last trading session. The Commodity Channel Index (CCI) is giving a positive signal. Global Financial Headlines US stock indexes fell, pressured by rising Treasury yields as markets recalibrated expectations for the Federal Reserve rate cut. The yield on benchmark 10-year notes exceeded 4% for the first time in two months. Global cryptocurrency adoption is approaching a significant milestone, with 7.51% of the world's population now using digital currencies, according to a report by MatrixPort. The report projects this figure to exceed 8% by 2025. Super Micro Computer announced it is currently shipping more than 100,000 graphics processors per quarter and unveiled a new suite of liquid cooling products, sending the AI server maker's shares up about 14% following a weeks-long slump. Upcoming Economic Highlights Key economic events to look out for include: • Eurozone's Euro Group Meeting - 0700 GMT • US Redbook Index - 1255 GMT • US NFIB Business Optimism Index - 1000 GMT • Japan's Eco Watchers Survey Current - 0500 GMT • Australia's RBA Meeting Minutes - 0030 GMT • Germany's Industrial Production - 0600 GMT

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Publication date:

2024-10-08 05:58:48 (GMT)

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