

Daily Global Market Update December 4th, 2024

Bitcoin's Minor Decline Bitcoin dipped slightly by 0.1% against the dollar in the last trading session. The Williams Percent Range indicator is currently signalling a negative trend. Tesla Shares Face Overbought Conditions Tesla shares dropped by 0.6% in the last session. The Commodity Channel Index (CCI) suggests the market is in an overbought condition. Aussie Dollar's Positive Momentum The AUD/USD pair rose by 0.2% in the last session. The MACD is giving a positive signal, indicating potential bullish momentum. Gold's Minor Upward Correction The gold-dollar pair experienced a slight rise of 0.1% in the last session. The MACD is indicating a positive trend, reflecting bullish sentiment in the market. Key Market Highlights OPEC oil output increased for the second consecutive month, driven by Libya's production recovery amidst resolved political tensions. Sterling strengthened against the dollar following dovish comments by the Federal Reserve, while the euro held steady due to ongoing political uncertainty in France. Cryptocurrency exchanges saw significant growth in 2024, with Binance leading the surge in average daily Bitcoin deposits, outpacing Kraken and Coinbase. Upcoming Economic Events Traders should keep an eye on the following economic updates: • Japan's Labour Cash Earnings - 2330 GMT • US Red Book Index - 1355 GMT • UK's BRC Retail Sales - 0001 GMT • Eurozone's GDP Growth - 1000 GMT • Germany's Industrial Production - 0700 GMT

Learn more

Publication date:

2024-12-04 08:11:28 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.