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Daily Global Market Update December 6th, 2024

Pound's Positive Movement The GBP/USD pair rose by 0.3% in the last trading session. The Williams Percent Range indicator suggests that the market is currently overbought. Bitcoin's Minor Drop Bitcoin paired with the dollar saw a minor decline of 0.2% in the last session. The MACD is indicating a negative trend. Oil's Continued Weakness The US Crude Oil pair dropped 0.5% in the last session following a 1.1% intraday dip. The Stochastic RSI suggests an oversold market. Australian Dollar's Positive Signal The AUD/USD pair edged higher by 0.2% in the last session. The Rate of Change (ROC) indicator provides a positive signal. Global Financial Headlines Bitcoin dominance has surged to 57% as the cryptocurrency hit an all-time high. Meanwhile, labour market data in the US indicates easing conditions as unemployment filings increased slightly last week. Oil prices continued to decline, weighed by an ample supply outlook for 2025 and OPEC+ delaying output increases until April next year. Upcoming Economic Highlights Key upcoming economic events include: • US Nonfarm Payrolls - 1330 GMT • Eurozone GDP Growth Rate - 1000 GMT • UK Manufacturing PMI - 0930 GMT • China's Trade Balance - 0300 GMT • Australia Retail Sales - 0130 GMT

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Publication date:

2024-12-06 07:22:26 (GMT)

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