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Daily Global Market Update October 9th, 2024

Bitcoin's Slight Gain Amidst Mixed Signals The Bitcoin/USD pair gained 0.1% in the last session, after rising as much as 1.5% during the session. The Stochastic indicator is currently giving a negative signal. Meta Stock's Positive Performance Meta stock gained 0.5% in the last session. The MACD is currently giving a positive signal. Australian Dollar's Slight Decline The AUD/USD pair corrected downwards in the last session, falling 0.1%. The Ultimate Oscillator is giving a negative signal. Gold's Significant Drop Gold fell 0.88% against the dollar in the last trading session. The ROC (Rate of Change) indicator is giving a negative signal. Global Financial Headlines Gold prices fell over 1%, on track for their biggest drop on a percentage basis in 1.5 months. Recent US employment data lowered expectations for a bigger rate cut, while markets await minutes of the US Federal Reserve's latest policy meeting for fresh signals. The Canadian dollar weakened to a 7-year low against its US counterpart as oil prices fell 4%. Investors are reassessing the outlook for Federal Reserve interest rate cuts. In cryptocurrency news, major exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission, aiming to protect the future of the crypto industry in the country. Upcoming Economic Highlights Key economic events to look out for include: • UK's 10y Bond auction - 09:30 GMT • Germany's Exports - 06:00 GMT • Japan's Machine Tool Orders - 06:00 GMT • US EIA Crude Oil Stocks Change - 14:30 GMT • Germany's Trade Balance - 06:00 GMT • US MBA Mortgage Applications - 11:00 GMT

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Publication date:

2024-10-09 06:34:46 (GMT)

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