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Daily Global Market Update - Dec 24fh, 2024

Gold's Decline Continues Gold fell by 0.4% against the dollar in the last trading session. The Ultimate Oscillator indicates a negative signal. Euro's Persistent Weakness The EUR/USD pair dropped by 0.3% against the dollar in the last trading session. The MACD is giving a negative signal. Pound Declines Amid Negative Sentiment The GBP/USD pair fell by 0.3% in the last trading session. The Stochastic RSI indicates a negative signal. Bitcoin's Mixed Signals The Bitcoin/USD pair dropped by 1.6% after gaining as much as 1.3% during the last session. The Rate of Change (ROC) indicator signals a potential positive trend. Global Financial Headlines The S&P 500 and NASDAQ Composite rose in holiday-thin trading, supported by a stop-gap funding bill that averted a US Government shutdown. Gains were led by the 'Magnificent 7' tech stocks. MicroStrategy continues aggressive Bitcoin acquisition, purchasing 5,262 BTC for $561 million. Apple nears a $4 trillion valuation as AI-enhanced developments rejuvenate iPhone sales, surpassing Nvidia and Microsoft in valuation gains. Upcoming Economic Highlights Key events to monitor in the coming days include: • US Redbook Index - 1355 GMT • UK BRC Retail Sales - 0001 GMT • Japan Overall Household Spending - 2330 GMT • Eurozone Unemployment Rate - 1000 GMT • Germany Industrial Production - 0700 GMT

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Publication date:

2024-12-24 07:14:38 (GMT)

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