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Daily Global Market Update November 4th, 2024

Crude Oil's Decline The WTI Crude Oil experienced a significant decline, falling 1.7% in the last session after an initial gain of 1.1%. The Commodity Channel Index (CCI) is currently showing a positive signal. AUD/USD Stability The Australian dollar remained relatively stable against the US dollar in the latest session. The Rate of Change (ROC) indicator is presenting a positive signal. EUR/USD Analysis The EUR/USD pair showed minimal movement in the last session. The Stochastic indicator suggests a positive trend ahead. USD/JPY Movement The USD/JPY pair recorded a slight upward correction, gaining 0.2% in the last session. The CCI indicator is currently showing a negative signal. Global Financial Headlines Intel is set to be replaced by Nvidia in the prestigious Dow Jones Industrial Average index after a 25-year tenure, highlighting the shifting dynamics in the semiconductor industry. The Canadian dollar has weakened to a two-year low against its US counterpart ahead of the US presidential election, despite positive domestic factory activity data. Wall Street's major indices ended higher, with Amazon.com rising 6.2% following strong earnings that exceeded Wall Street expectations. Upcoming Economic Highlights Key economic events to watch: • US Factory Orders - 1500 GMT • US 3-Month Bill Auction - 1630 GMT • US 6-Month Bill Auction - 1630 GMT • US 3-Year Note Auction - 1800 GMT • Austrian Unemployment Rate - 0800 GMT • Japan's Monetary Base - 2350 GMT

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Publication date:

2024-11-04 10:06:01 (GMT)

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