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Daily Global Market Update - Jan 6th, 2025

Oil's Skyrocketing Performance The oil-dollar pair surged by 1.1% in the last session. The Commodity Channel Index (CCI) indicates that the market is currently overbought. Aussie's Slight Bump The Australian dollar gained 0.1% against the US dollar in the last session. The Stochastic indicator is showing a positive signal. Euro's Positive Signal The EUR/USD pair climbed 0.4% in the last session. The Williams Percent Range indicator is emitting a positive signal. Yen's Downward Correction The USD/JPY pair dipped 0.1% in the last session, following a minor downward correction. The Williams Percent Range indicator suggests an overbought market, supporting a negative signal in technical analysis. Global Financial Headlines US stocks rebounded in the final session of a holiday-shortened week, buoyed by investor optimism about anticipated Federal Reserve rate cuts and more lenient regulatory policies under a new administration. In corporate news, Taiwan's Foxconn recorded its highest-ever quarterly revenue, fuelled by strong demand for AI servers and iPhones, with a 15.2% year-on-year revenue jump to $64.7 billion. Upcoming Economic Highlights Key economic events to monitor include: • Dutch Retail Sales - 0530 GMT • Japan's CFTC JPY NC Net Positions - 2030 GMT • Germany's Harmonised Index of Consumer Prices - 1300 GMT • UK's CFTC GBP NC Net Positions - 2030 GMT • Japan's Jibun Bank Services PMI - 0030 GMT • US 3-Month Bill Auction - 1630 GMT

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Publication date:

2025-01-06 08:55:01 (GMT)

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