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Daily Global Market Update - Dec 20th, 2024

Pound's Decline Against the Dollar The GBP/USD pair dropped by 0.4% in the last session. The MACD is currently signalling a negative trend. Bitcoin's Downward Movement Bitcoin paired with the dollar fell by 1.7% in the last session. The CCI is indicating a negative trend. Oil Market Trends The oil-dollar pair traded sideways in the last session. The Stochastic indicator is giving a positive signal. Australian Dollar's Recovery The AUD/USD pair gained by 0.5% in the last session. The RSI indicates the market is currently oversold. Global Financial Headlines Funds stolen from hacking cryptocurrency platforms surged by 21% in 2024, reaching $2.2 billion, according to a report from Chainalysis. This marked the fourth consecutive year where losses exceeded $1 billion, with hacking incidents rising to 303 from 282 in 2023. The US economy saw faster growth in the third quarter, with GDP increasing by an annualised 3.1%, driven by strong consumer spending. Meanwhile, oil prices fell as cautious signals from US and European central banks raised concerns about weak economic activity impacting demand. Upcoming Economic Highlights Key economic events to watch include: • Japan's Labour Cash Earnings – 2330 GMT • US Red Book 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:

2024-12-20 07:03:23 (GMT)

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