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Daily Global Market Update October 16th, 2024

Bitcoin's Continued Rise The Bitcoin/USD pair skyrocketed by 1.1% in the last session. The Ultimate Oscillator is giving a positive signal. Nike's Market Movement Nike shares gained 1.1% in the last session. According to the Stochastic RSI, the market is currently oversold. Aussie Dollar's Slight Dip The AUD/USD pair saw a minor dip of 0.2% in the last session. The CCI is giving a positive signal. Gold's Modest Gain Gold gained 0.4% against the dollar in the last session. The Stochastic indicator is giving a positive signal. Global Financial Headlines Gold edged higher, lifted by retreating treasury yields, while investors cautiously awaited more data that could offer fresh clues on the Federal Reserve's monetary easing cycle. Spot gold rose 0.5%. The US dollar edged higher against most major currencies, resuming the latest uptrend that took it to more than two-month highs, fueled by expectations the Federal Reserve will proceed with modest interest rate cuts over the next year and a half. Crypto asset manager Grayscale has added 35 crypto altcoins, including Dogecoin, Worldcoin, Pith, and Run, to a list of assets under consideration for future investment products. Upcoming Economic Highlights Key economic events to look out for include: • UK's Core Consumer Price Index - 6 GMT • Japan's Exports - 2350 GMT • US Export Price Index - 1230 GMT • Italy's Consumer Price Index - 8 GMT • Germany's 30-Year Bond Auction - 930 GMT

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Publication date:

2024-10-16 06:26:37 (GMT)

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