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The gold-dollar pair saw a minor rise of 0.1% in the last session. The Stochastic indicator is giving a negative signal.
The EUR/USD price remained largely unchanged in the last session. The ROC indicator is giving a negative signal.
The GBP/USD pair rose 0.4% against the dollar in the last trading session. The Stochastic RSI is giving a negative signal.
The Bitcoin-dollar pair skyrocketed 2.6% in the last session. The ROC indicator is giving a positive signal.
The S&P 500 and NASDAQ rose as investors looked forward to an anticipated Federal Reserve interest rate cut later this week. Several key data releases are expected to provide insights into next year’s monetary policy.
Cryptocurrency markets continue to rally as Bitcoin reaches new highs, marking the tenth consecutive week of inflows for digital asset investment products. Crypto investment firm CoinShares reported inflows totalling $3.2 billion for the week of December 9th to 13th.
In other news, SoftBank CEO Masayoshi Son, alongside President-elect Donald Trump, announced a $100 billion investment in the US over the next four years. This investment aims to create 100,000 jobs, primarily focusing on AI technology.
Traders should prepare for a busy economic calendar, with significant data releases over the next few days:
The Oil-Dollar pair rose by 1.5% in the last session, peaking with a 1.9% gain during the day. The MACD is currently giving a positive signal, indicating potential upward momentum in the market.
The Aussie-Dollar pair remained range-bound in the last session. The Stochastic indicator is currently providing a negative signal, suggesting potential bearish momentum.
The Euro rose by 0.3% against the dollar in the last session. The Williams Percent Range indicator is signalling a negative trend, which could hint at short-term resistance.
The Dollar-Yen pair climbed by 0.6% in the last session. The Stochastic RSI is signalling that the market is currently in an overbought zone, suggesting caution for buyers.
China's economy is projected to grow by 5% this year, contributing nearly 30% of global growth. Broadcom’s shares surged 21%, reaching a valuation of $1 trillion as AI demand drives revenue potential. The NASDAQ index breached the 20,000 milestone last week, gaining 32% this year, while the S&P 500 rose by 27%. These developments underline the robust performance of US equities in 2024.
This week, traders should keep an eye on key events:
The Pound dropped by 0.4% against the US dollar in the last session. Despite the decline, the MACD is providing a positive signal, indicating potential for a reversal.
Bitcoin rose by 0.2% in the last session after peaking with a 1.2% gain earlier in the day. The Ultimate Oscillator is giving a positive signal, reflecting continued bullish sentiment.
The oil-dollar pair remained largely unchanged in the last session. The Williams Percent Range is indicating overbought conditions, suggesting a potential pullback in the near term.
The Aussie dollar experienced a minor upward correction, rising by 0.1% in the last session. The Stochastic RSI indicates that the market is currently oversold, hinting at further recovery potential.
European cryptocurrency exchanges are preparing to delist locally non-compliant stable coins, including Tether's USDT, as regulatory deadlines loom. The European Central Bank has cut interest rates for the fourth time this year, while gold slipped over 1% as investors booked profits ahead of a key Federal Reserve meeting.
Key events to monitor this week include:
The last trading session saw the Euro fall by 0.3% against the dollar. The CCI indicator is giving a negative signal.
The dollar gained 0.3% against the yen in the last trading session. The Stochastic indicator is giving a positive signal.
Gold rose by 0.8% against the dollar in the last trading session. The MACD is giving a positive signal.
Meta stock rose by 1.5% in the last trading session. The Ultimate Oscillator is indicating a positive signal.
The Canadian dollar strengthened as the Bank of Canada cut interest rates by 0.5% but adopted hawkish guidance. Wall Street saw tech stocks rally, pushing the NASDAQ above 20,000 points for the first time after a US inflation report heightened expectations of a Federal Reserve rate cut.
Key events to monitor include:
The Bitcoin-Dollar pair fell by 2.2% in the last trading session. The MACD is giving a negative signal, indicating potential bearish momentum.
Alibaba's stock remained largely unchanged in the last session. The MACD is giving a positive signal, suggesting upward momentum in the near term.
The Australian Dollar fell by 0.8% against the US Dollar in the last session. According to the CCI, the market is in an oversold condition, indicating a potential reversal.
The Gold-Dollar pair soared by 1.2% in the last session. The Ultimate Oscillator is giving a positive signal, reflecting strong bullish momentum.
Gold prices reached a two-week high amid rising geopolitical tensions and expectations of a third US rate cut by the Federal Reserve next week. The Canadian Dollar strengthened slightly against the US Dollar as oil prices rose. Microsoft shareholders recently rejected a proposal to add Bitcoin to the company's balance sheet, with the board deeming the move unnecessary.
Key economic events to watch for this week include:
The last session saw gold rise by 0.9% against the dollar. The RSI is currently giving a positive signal.
The EUR/USD pair traded sideways in the last session. The Williams Percent Range indicator is signalling a negative trend.
The GBP/USD pair experienced a minor upward correction in the last session, gaining 0.1%. The Williams Percent Range indicator suggests the market is overbought.
Bitcoin paired with the dollar dropped by 3.1% in the last session. The Stochastic indicator is giving a negative signal.
Wall Street’s main indices dropped following a decline in AI leader Nvidia, which impacted tech stocks as investors anticipate a critical inflation report this week. Meanwhile, cryptocurrency investment products saw record inflows as Bitcoin surpassed $100,000 for the first time. Oracle missed revenue expectations for Q2, citing reduced client spending on databases and cloud services amid economic uncertainty.
Key upcoming economic events include:
The oil-dollar pair fell by 1.7% in the last trading session. The Williams Percent Range indicates that the market is currently oversold.
The AUD/USD pair declined by 1% in the last session. The Stochastic RSI signals that the market is oversold.
The EUR/USD pair edged lower by 0.1% in the last trading session. The Stochastic indicator is currently giving a positive signal.
The USD/JPY pair remained flat during the last trading session. According to the Williams Percent Range, the market is oversold.
This week, a critical inflation report is expected to test the resilience of US stocks, with the S&P 500 advancing over 27% year-to-date. A US federal appeals court has upheld a decision requiring ByteDance to divest TikTok by next year, impacting the app's operations in the US. Meanwhile, the People's Bank of China resumed gold purchases in November, solidifying its position as the top official sector buyer of 2023.
Notable economic events to watch include:
The GBP/USD pair rose by 0.3% in the last trading session. The Williams Percent Range indicator suggests that the market is currently overbought.
Bitcoin paired with the dollar saw a minor decline of 0.2% in the last session. The MACD is indicating a negative trend.
The US Crude Oil pair dropped 0.5% in the last session following a 1.1% intraday dip. The Stochastic RSI suggests an oversold market.
The AUD/USD pair edged higher by 0.2% in the last session. The Rate of Change (ROC) indicator provides a positive signal.
Bitcoin dominance has surged to 57% as the cryptocurrency hit an all-time high. Meanwhile, labour market data in the US indicates easing conditions as unemployment filings increased slightly last week. Oil prices continued to decline, weighed by an ample supply outlook for 2025 and OPEC+ delaying output increases until April next year.
Key upcoming economic events include:
The EUR/USD pair experienced a slight upward correction during the last session. The Stochastic indicator is signalling a positive trend.
The dollar gained slightly against the yen during the last session. The Williams Percent Range indicator is giving a positive signal.
The gold-dollar pair recorded a modest gain in the last session. The Ultimate Oscillator indicates a positive trend.
Amazon shares rose steadily during the last session. The Rate of Change (ROC) indicator is signalling a negative trend, warranting closer monitoring.
Global shares presented mixed performance as markets reacted to geopolitical developments. Political turmoil in South Korea included the temporary imposition and lifting of martial law, while a no-confidence vote in France toppled the government. Meanwhile, US stocks posted solid gains led by technology shares after positive earnings reports from Salesforce. Federal Reserve Chair Jerome Powell’s remarks further boosted market sentiment, although US service sector activity slowed in November but remained above levels indicating solid economic growth.
Key economic events include:
Bitcoin dipped slightly by 0.1% against the dollar in the last trading session. The Williams Percent Range indicator is currently signalling a negative trend.
Tesla shares dropped by 0.6% in the last session. The Commodity Channel Index (CCI) suggests the market is in an overbought condition.
The AUD/USD pair rose by 0.2% in the last session. The MACD is giving a positive signal, indicating potential bullish momentum.
The gold-dollar pair experienced a slight rise of 0.1% in the last session. The MACD is indicating a positive trend, reflecting bullish sentiment in the market.
OPEC oil output increased for the second consecutive month, driven by Libya's production recovery amidst resolved political tensions. Sterling strengthened against the dollar following dovish comments by the Federal Reserve, while the euro held steady due to ongoing political uncertainty in France. Cryptocurrency exchanges saw significant growth in 2024, with Binance leading the surge in average daily Bitcoin deposits, outpacing Kraken and Coinbase.
Traders should keep an eye on the following economic updates:
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