Daily Global Market Update
Bitcoin's Recent Decline
Bitcoin's value against the US dollar plummeted by 5.7% in the last trading session. The Relative Strength Index (RSI) is currently signaling a negative outlook.
Alibaba's Stock Performance
Alibaba's stock rose by 0.4% in the last session. The Rate of Change (ROC) indicator is giving a negative signal, aligning with our overall technical analysis.
Australian Dollar's Performance
The Australian dollar rose by 0.4% against the US dollar in the last trading session. The Williams indicator is giving a positive signal.
Gold's Recent Surge
The gold-dollar pair surged by 1.4% in the last session. The Williams indicator indicates an overbought market.
Global Financial Headlines
Gold prices rose to a fresh record high as demand for momentum following funds offset a strong US dollar and the possibility of higher US rates. The US dollar was down after hitting its highest in almost 5 months, following a report showing US job openings held steady at higher levels in February. Spot Bitcoin exchange-traded funds witnessed a spike in trading volume in March, reaching $111 billion, nearly three times the trading volume recorded in February, as Grayscale and BlackRock ETFs dominated the market.
Upcoming Economic Highlights
Here's a brief rundown of today's anticipated economic releases:
• US ADP Employment Change - 12:15 GMT
• US ISM Services PMI - 14:00 GMT
• Eurozone's Harmonized Index of Consumer Prices - 09:00 GMT
• Eurozone's Unemployment Rate - 09:00 GMT
• Japan's Jibun Bank Services PMI - 00:30 GMT
• Japan's Foreign Bond Investment - 23:50 GMT
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Leading altcoins are once again attempting to pull the crypto market upwards
