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Daily Global Market Update December 30th, 2024

Oil's Upward Momentum Oil gained 0.7% against the dollar in the last session. The Stochastic RSI is signalling a positive trend. Aussie Dollar's Oversold Territory The AUD/USD pair traded sideways in the last session. The Stochastic indicator suggests the market is currently oversold. Euro's Positive Signal The EUR/USD pair traded sideways in the last session. The Williams Percent Range indicator is providing a positive signal. Dollar Yen's Overbought Conditions The USD/JPY pair made a minor downward correction, dropping 0.1% in the last session. The Stochastic indicator suggests the market is currently overbought. Global Financial Headlines Global equity funds saw sharp inflows this past week, buoyed by a positive US inflation report and relief from avoiding a government shutdown, boosting investor confidence in risk assets. Meanwhile, United Health and a Medici's merger faces delays under close scrutiny from the US Department of Justice. US stocks had a banner year in 2024, with the S&P 500 up by 25% and the NASDAQ Composite up by over 31%. Upcoming Economic Highlights Key economic events to monitor include: • Austria's Producer Price Index - 8:00 GMT • Japan's Jibun Bank Manufacturing PMI - 03:00 GMT • US Chicago Purchasing Managers Index - 14:45 GMT • US 6-Month Bill Auction - 16:30 GMT • Spain's Current Account Balance - 09:00 GMT • Japan's CFTC JPY NCET Positions - 20:30 GMT

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Publication date:

2024-12-30 07:50:57 (GMT)

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