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Daily Global Market Update November 13th, 2024

Bitcoin's Market Correction In the last session, Bitcoin experienced a slight pullback, dropping by 0.9% after an initial gain of 1.5%. The Williams Percent Range indicator signals an overbought market, suggesting potential for further correction. Meta Stock's Slight Decline Meta's stock value decreased by 0.6% in the last session. The RSI indicator points to a positive trend, potentially signalling upcoming opportunities for investors. Australian Dollar's Oversold Position The Australian dollar fell by 0.8% against the US dollar in the previous session. According to the Williams Percent Range, the AUD/USD pair is currently in an oversold market. Gold's Further Decline Gold decreased by 0.8% against the dollar in the last session, placing it in an oversold position according to the Stochastic RSI. Global Financial News Bitcoin has recently stabilised after a record rally, while crypto exchange Coinbase has launched the Coinbase 50 Index, covering 50 major digital assets. In the energy sector, South Korea's Q-cells is advancing renewable efforts with Microsoft through US-based solar panels. Upcoming Economic Events Key data releases include: • Japan's Labour Cash Earnings - 2330 GMT • US Red Book Index - 1355 GMT • UK's BRC Retail Sales - 0001 GMT • Japan's Overall Household Spending - 2330 GMT • Eurozone's Unemployment Rate - 1000 GMT • Germany's Industrial Production - 0700 GMT

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Publication date:

2024-11-13 05:53:27 (GMT)

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