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Daily Global Market Update - Dec 23rd, 2024

Oil's Positive Performance The Oil-Dollar pair gained 0.5% in the last session. The Stochastic indicator is giving a positive signal. Aussie Dollar's Minor Gain The Aussie-Dollar pair rose by 0.2% in the last session. The Rate of Change (ROC) indicator is giving a negative signal. Euro's Continued Strength The EUR/USD pair gained 0.6% in the last session. The Ultimate Oscillator is giving a negative signal. Dollar Weakens Against Yen The Dollar-Yen pair fell by 0.6% in the last session. The Stochastic RSI indicates an overbought market. Global Market and Economic Updates China maintained its benchmark lending rates as expected, with the one-year loan PR rate at 3.1% and the five-year LPR at 3.6%. Neo plans to launch its Firefly EV brand in Europe by early 2025, competing with Mercedes Smart and BMW's Mini. Meanwhile, Wall Street surged as cooler-than-expected inflation data boosted investor confidence. Gold soared, and US Treasury yields eased from multi-month highs. Key Economic Events to Watch Significant economic updates include: • China's Industrial Production - 0600 GMT • US Core Inflation Rate - 1230 GMT • Eurozone GDP Growth Rate - 1000 GMT • Japan's Machine Orders - 2330 GMT • UK's Consumer Confidence Index - 0700 GMT • Germany's Trade Balance - 0600 GMT

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Publication date:

2024-12-23 08:10:53 (GMT)

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