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Daily Global Market Update November 27th, 2024

Bitcoin's Negative Outlook The Bitcoin/USD pair experienced a 1.6% dip during the last session, followed by a 0.4% overall drop. The MACD indicator is signalling a negative trend. Alibaba Bar Stock's Stability Alibaba Bar stock saw a minor decline of 0.2% in the last session. However, the Stochastic RSI is giving a positive signal, suggesting potential upward momentum. Aussie Dollar's Downward Correction The AUD/USD pair corrected downwards, falling 0.1% in the last session. The Stochastic indicator is signalling a positive outlook, indicating potential recovery. Gold's Steady Rise Gold rose by 0.4% in the last session, recovering from earlier lows. The Ultimate Oscillator is signalling positive momentum, supporting the bullish outlook. Global Financial Headlines Gold prices faced a tug-of-war as safe-haven demand softened amid optimism over a potential Israel-Hezbollah ceasefire. However, concerns over Ukraine and US tariff plans provided some support. Oil prices fell sharply after Israel agreed to a ceasefire deal with Lebanon, lowering risk premiums and causing benchmarks to drop around 1%. Meanwhile, cryptocurrency ownership in the UK has reached 12%, prompting increased regulatory attention from the Financial Conduct Authority. Upcoming Economic Highlights Key events to watch this week include: • Japan’s Labour Cash Earnings - 2330 GMT • US Redbook 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:

2024-11-27 09:42:14 (GMT)

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