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Daily Global Market Update November 15th, 2024

Pound's Downward Correction The GBP/USD pair experienced a minor downward correction, falling by 0.1% in the last session. The Stochastic indicator is giving a negative signal, reflecting recent bearish movement in the market. Bitcoin's Slight Decline The Bitcoin/USD pair fell by 1.4% in the last session. The Rate of Change (ROC) indicator signals a potential continuation of this downward trend. Oil's Modest Gain In the last session, US Crude Oil gained 0.6% against the dollar, with the MACD indicating a negative trend. Australian Dollar's Downward Move The AUD/USD pair dropped by 0.3% in the last session. The Stochastic indicator is giving a negative signal, suggesting further potential downside. World Market Overview Pepe, an Ethereum-based meme coin, continues to rally, showing a 230% increase from its November low. Meanwhile, US stock markets retreated after monthly Producer Price Index data met expectations with a 0.2% rise in October. Jobless claims fell to 217,000, below the forecast. Oil prices ended slightly higher, supported by a significant drop in US fuel inventories despite demand concerns tied to a strengthening dollar. Key Upcoming Economic Events Important upcoming events include: • US Consumer Price Index (CPI) - 1330 GMT • UK's GDP Monthly Estimate - 0700 GMT • Eurozone’s Industrial Production - 1000 GMT • Japan’s Producer Price Index - 2350 GMT • Australia's Employment Change - 0130 GMT

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Publication date:

2024-11-15 08:20:42 (GMT)

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