Daily Global Market Update

Gold up 0.7%, CCI signals negative. Euro dips 0.2%, stochastic down. Pound stable, stochastic RSI oversold. Bitcoin drops 3.6%, RSI negative. US stocks fall amid retail sales rise. Ethereum's USD value doubles since PoS switch, ETH/BTC down 33%. Tesla cuts 10% workforce. Today: US Housing Starts, Japan Imports, Germany's ZEW Survey, US Industrial Production, UK Employment & Claimant Count Change.

Moneta Markets | 226 days ago

Gold's Rise and Euro's Dip

The gold-dollar pair gained 0.7% in the last session, but the CCI is signaling a negative outlook, contradicting our overall technical analysis.

Euro's Slight Decline

The euro-dollar pair saw a minor dip of 0.2% in the last session, with the stochastic indicator signaling a negative trend.

Pound's Stable Performance

The pound-dollar price remained largely unchanged in the last session. According to the stochastic RSI, we are in an oversold market.

Bitcoin's Significant Decline

The Bitcoin-dollar pair plummeted by 3.6% in the last session, with the RSI indicating a negative trend.

Recent Developments in the Financial World

US stocks closed sharply lower as a strong retail sales report was overshadowed by a jump in treasury yields and rising geopolitical tensions between Iran and Israel. The price of Ethereum in USD has more than doubled since switching to proof of stake in September 2022. However, when priced in Bitcoin, the ETH/BTC pair is down roughly 33% since the merge. Tesla is laying off more than 10% of its global workforce as it faces falling sales and an intensifying price war for electric vehicles. Musk last announced job cuts in 2022, hiring over 40,000 people since then.

Major Economic Events for Today

Here are today's major economic events:

• US Housing Starts - 12:30 GMT

• Japan's Imports - 23:50 GMT

• Germany's ZEW Survey Economic Sentiment - 09:00 GMT

• US Industrial Production - 13:15 GMT

• UK's Employment Change - 06:00 GMT

• UK's Claimant Count Change - 06:00 GMT

Regulation: FSA (Seychelles), FSCA (South Africa)

Tags: Analysis

EBC Markets Briefing | Oil prices meander on OPEC’s efforts

Oil prices steadied Thursday, supported by a US crude stock draw, after falling nearly 3% on ceasefire talks between Israel and Hezbollah.

EBC Financial Group | 10h 37min ago

Dollar extends retreat ahead of US Thanksgiving

Dollar traders lock more profits amid Thanksgiving Holidays - Probability of a December Fed pause eases somewhat - Yen climbs higher as BoJ hike bets remain elevated - Euro rebounds on ECB Schnabel’s hawkish remarks

XM Group | 12h 11min ago

Japanese Yen Climbs to Five-Week High Due to USD Weakness

The USD/JPY pair has dropped to 151.56, marking a five-week high for the yen. Market speculations fuel the currency's strength that the Bank of Japan (BoJ) might consider an interest rate hike as soon as December.

RoboForex | 12h 57min ago

EURJPY bears stay in control

EURJPY in the fourth week of losses. Short-term bias skewed to the downside. Next stop could be near 158.00.

XM Group | 14h 16min ago

Daily Global Market Update

The Euro is gaining strength, while the Yen is weakening. Gold is correcting upwards, and Alibaba stock is dipping. The Canadian dollar is recovering, but Wall Street is down. Key economic events include Canadian GDP, US inflation, Eurozone consumer confidence, and UK retail sales.

Moneta Markets | 16h 40min ago

Gold Decline on Easing Geopolitical Tension

The U.S. Personal Consumption Expenditures (PCE) report, released yesterday, met market expectations but failed to deliver any surprises, resulting in continued weakness in the U.S. dollar. Simultaneously, long-term Treasury yields fell to their lowest levels in November.

PU Prime | 17h 14min ago

How Global Economic Shifts Shape November's Trading Opportunities

The U.S. economy continues to chart a path toward a "soft landing," a scenario where inflation cools without triggering a severe recession. Gradual easing in the labour market underscores this trend, with recent jobless claims figures showing minor increases yet remaining well below concerning thresholds. Businesses are largely retaining staff, indicating stable employment conditions.

ACY Securities | 18h 30min ago

How Low Could EUR/USD Go?

In a significant market move, EUR/USD has plunged to levels not seen in over two years, driven by a combination of economic and geopolitical pressures. This sharp decline has been raising questions about the resilience of the eurozone economy and the broader implications for global currency dynamics.

ACY Securities | 18h 31min ago

EURUSD	1.05547	GBPUSD	1.26887	AUDUSD	0.65004
USDJPY	151.527	USDCAD	1.40108	USDCHF	0.88263