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Daily Global Market Update November 28th, 2024

Euro's Positive Momentum The EUR/USD pair rose by 0.7% in the last trading session, with the RSI giving a positive signal, suggesting further bullish momentum. Yen Weakens Further The USD/JPY pair fell by 1.3% in the last session, following a 1.6% drop in the previous session. The ROC indicator is currently signalling a negative trend, pointing to continued weakness. Gold's Steady Correction The Gold/USD pair saw a minor upward correction in the last session, gaining 0.2%. The Stochastic indicator is providing a positive signal, supporting potential gains in the short term. Alibaba Stock Dips Alibaba stock fell by 0.1% in the last session. The ROC indicator is showing a negative signal, suggesting a bearish outlook. World Financial News The Canadian dollar continued its recovery from a 4.5-year low as investors speculated on a successful negotiation to avoid US trade tariffs and awaited domestic GDP data. Meanwhile, Wall Street's main indices declined, with the NASDAQ leading losses as technology stocks slumped ahead of Thanksgiving. US consumer spending rose slightly more than expected in October, maintaining solid economic momentum, but inflation progress appeared stalled. Upcoming Economic Highlights Key economic events include: • Canada GDP Data • US Inflation Figures • Eurozone Consumer Confidence • UK Retail Sales Report

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Publication date:

2024-11-28 08:10:35 (GMT)

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