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Daily Global Market Update December 11th, 2024

Bitcoin's Decline in the Market The Bitcoin-Dollar pair fell by 2.2% in the last trading session. The MACD is giving a negative signal, indicating potential bearish momentum. Alibaba's Stable Performance Alibaba's stock remained largely unchanged in the last session. The MACD is giving a positive signal, suggesting upward momentum in the near term. Aussie Dollar's Decline The Australian Dollar fell by 0.8% against the US Dollar in the last session. According to the CCI, the market is in an oversold condition, indicating a potential reversal. Gold's Remarkable Surge The Gold-Dollar pair soared by 1.2% in the last session. The Ultimate Oscillator is giving a positive signal, reflecting strong bullish momentum. Global Financial Updates Gold prices reached a two-week high amid rising geopolitical tensions and expectations of a third US rate cut by the Federal Reserve next week. The Canadian Dollar strengthened slightly against the US Dollar as oil prices rose. Microsoft shareholders recently rejected a proposal to add Bitcoin to the company's balance sheet, with the board deeming the move unnecessary. Upcoming Economic Events Key economic events to watch for this week include: • US Inflation Data - 1330 GMT • Bank of Canada Rate Decision - 1500 GMT • Japan's Machine Tool Orders - 0600 GMT • UK GDP Estimate - 0700 GMT • Eurozone Industrial Production - 1000 GMT

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Publication date:

2024-12-11 13:13:13 (GMT)

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