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Daily Global Market Update 12th November, 2024

Gold's Sharp Decline The Gold-Dollar pair dropped sharply by 2.8% in the last session. The Commodity Channel Index (CCI) currently signals that the market is oversold. Euro's Decline Continues The Euro-Dollar pair fell by 0.5% against the dollar in the last session. The Williams Percent Range indicator suggests that the market remains oversold. Pound's Downward Trend The Pound-Dollar pair dropped by 0.4% in the last session. The Williams Percent Range continues to indicate an oversold market. Bitcoin Reaches New High Bitcoin surged 4.6% against the dollar in the last session. The Ultimate Oscillator shows the market is currently overbought. Global Financial Headlines Wall Street’s indexes hover near record highs, awaiting economic data that may impact the Federal Reserve's rate decisions. Stock gains follow Donald Trump's re-election, with traders expecting favourable impacts from his policies. Notably, Bitcoin reached an all-time high of $85,000, with analysts speculating on a six-figure price by 2025. Tesla's shares also rose sharply, with investors betting on potential synergies between Elon Musk and President Trump. Upcoming Economic Highlights Traders should watch these key economic releases for potential market shifts: • Japan's Labour Cash Earnings – 2330 GMT • US Red Book Index – 1355 GMT • UK's BRC Retail Sales – 0001 GMT • Japan's Household Spending – 2330 GMT • Eurozone Unemployment Rate – 1000 GMT • Germany's Industrial Production – 0700 GMT

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Publication date:

2024-11-12 08:23:38 (GMT)

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