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Daily Global Market Update 22nd November 2024

Pound's Decline Against the Dollar The GBP/USD pair dropped by 0.5% during the last session. The MACD is currently providing a negative signal, suggesting potential bearish momentum. Bitcoin's Accelerated Growth Bitcoin surged by 4% against the dollar in the last session. The MACD is signalling a positive trend, reinforcing bullish sentiment among traders. Oil's Steady Climb The price of US crude oil rose by 1.5% in the last session. The Rate of Change (ROC) indicator is providing a positive signal, supporting a bullish outlook. Aussie's Neutral Trend The AUD/USD pair traded sideways in the last session. The Commodity Channel Index (CCI) is presenting a positive signal, hinting at a potential upward move. Global Financial Headlines Bitcoin's drive towards $100,000 has gained momentum as traders anticipate a more favourable regulatory environment in the US under President-elect Donald Trump. Jobless claims in the US fell to a 7-month low last week, hinting at recovery in the labour market. Meanwhile, gold prices rose for the fourth consecutive session, bolstered by safe-haven demand amid geopolitical concerns and lacklustre corporate earnings from Nvidia. Upcoming Economic Highlights Key economic events to monitor 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:

2024-11-22 08:16:10 (GMT)

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