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Daily Global Market Update December 27th, 2024

Pound's Sideways Movement The GBP/USD pair traded sideways in the last session. The Stochastic RSI is giving a negative signal, suggesting potential bearish momentum. Bitcoin's Slight Decline Bitcoin fell 0.5% against the dollar in the last trading session. The RSI is currently giving a negative signal, indicating bearish momentum. Oil's Neutral Performance The oil-dollar pair traded sideways in the last session. The Rate of Change (ROC) indicator is signalling negative momentum, suggesting caution in the market. Aussie Dollar's Stability The AUD/USD pair remained largely unchanged in the last session. The Commodity Channel Index (CCI) indicates an oversold market, hinting at potential bullish opportunities. Global Financial Headlines Ether’s price dropped below $3,400, erasing prior gains and triggering $34 million in liquidations of leveraged ETF longs. This followed a 4% decline in Bitcoin, reflecting increased investor risk aversion. Meanwhile, US job market data shows a cooling yet steady labour environment, reducing the likelihood of further Federal Reserve interest rate cuts in the near term. Gold prices rose slightly, driven by safe-haven demand amid thin post-holiday trading as markets await further economic signals. Upcoming Economic Highlights Key economic events to monitor include: • Japan’s Labour Cash Earnings - 2330 GMT • US Jobless Claims Report - 1330 GMT • Eurozone Industrial Production - 0900 GMT • UK GDP Growth Estimate - 0700 GMT • US Federal Reserve Minutes - 1900 GMT

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Publication date:

2024-12-27 15:31:46 (GMT)

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