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Daily Global Market Update, November 6th, 2024

Bitcoin's Upward Momentum The Bitcoin/USD pair skyrocketed by 3.2% in the last session. The Rate of Change (ROC) indicator is giving a positive signal. Google's Steady Rise Google shares saw a minor rise of 0.2% in the last session. The MACD is giving a positive signal. Aussie's Positive Signal The Aussie gained 0.7% against the dollar in the last session. The Commodity Channel Index (CCI) is giving a positive signal. Gold's Minor Correction The Gold/USD pair made a minor upward correction in the last session, gaining 0.1%. The Stochastic indicator is giving a negative signal. Global Financial Headlines Oil prices edged up about 1% on a weaker US dollar, coinciding with a closely contested US presidential election. OPEC+ delayed plans to increase production in December, contributing to a previous 2% rise in oil prices. Meanwhile, a consortium including Robinhood, Galaxy Digital, Kraken, and Paxos has launched a new stablecoin pegged to the US dollar, aiming to boost global adoption. Upcoming Economic Highlights Key economic events to watch include: • US MBA Mortgage Applications - 12:00 GMT • US EIA Crude Oil Stocks Change - 15:30 GMT • Germany's Factory Orders - 07:00 GMT • Eurozone's Producer Price Index - 10:00 GMT • Japan's Labour Cash Earnings - 23:30 GMT • Japan's Jibun Bank Services PMI - 03:00 GMT

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Publication date:

2024-11-06 09:04:46 (GMT)

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