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Daily Global Market Update October 23rd, 2024

Bitcoin's Modest Gain The Bitcoin/USD pair gained 0.1% in the last session after experiencing a 1.1% dip during the session. The Rate of Change (ROC) indicator is giving a positive signal. NIO's Stock Movement NIO stock gained 0.9% in the last session after rising as much as 3.5% during the session. The Stochastic indicator suggests the market is oversold. Aussie Dollar's Positive Signal The AUD/USD pair gained 0.4% in the last session. The Stochastic RSI is giving a positive signal. Gold's Positive Trend Gold rose 0.9% against the dollar in the last trading session. The MACD is giving a positive signal. Global Financial Headlines Oil prices rose for the second consecutive session as traders downplayed hopes of a Middle East ceasefire and focused on a tightening global supply and demand balance. The US dollar rose to a fresh 2.5-month high, continuing its recent rise on expectations the Federal Reserve will temper its rate cut path while investors positioned ahead of a tight US presidential election. Cryptocurrency exchanges Binance and Crypto.com are losing market share to smaller competitors as decentralised exchanges gain momentum. Binance, the world's biggest crypto exchange, saw a 133% year-over-year decline in spot trading volume. Upcoming Economic Highlights Key economic events to look out for include: • US Fed's Beige Book - 18:00 GMT • US MBA Mortgage Applications - 11:00 GMT • Eurozone's Consumer Confidence - 14:00 GMT • Germany's 10Y Bond Auction - 09:30 GMT • Japan's Foreign Bond Investment - 23:50 GMT • Japan's Foreign Investment in Japan Stocks - 23:50 GMT

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Publication date:

2024-10-23 11:44:28 (GMT)

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