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Oil gained 0.7% against the dollar in the last session. The Stochastic RSI is signalling a positive trend.
The AUD/USD pair traded sideways in the last session. The Stochastic indicator suggests the market is currently oversold.
The EUR/USD pair traded sideways in the last session. The Williams Percent Range indicator is providing a positive signal.
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 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%.
Key economic events to monitor include:
The GBP/USD pair traded sideways in the last session. The Stochastic RSI is giving a negative signal, suggesting potential bearish momentum.
Bitcoin fell 0.5% against the dollar in the last trading session. The RSI is currently giving a negative signal, indicating bearish momentum.
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.
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.
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.
Key economic events to monitor include:
Gold fell by 0.4% against the dollar in the last trading session. The Ultimate Oscillator indicates a negative signal.
The EUR/USD pair dropped by 0.3% against the dollar in the last trading session. The MACD is giving a negative signal.
The GBP/USD pair fell by 0.3% in the last trading session. The Stochastic RSI indicates a negative signal.
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.
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.
Key events to monitor in the coming days include:
The Oil-Dollar pair gained 0.5% in the last session. The Stochastic indicator is giving a positive signal.
The Aussie-Dollar pair rose by 0.2% in the last session. The Rate of Change (ROC) indicator is giving a negative signal.
The EUR/USD pair gained 0.6% in the last session. The Ultimate Oscillator is giving a negative signal.
The Dollar-Yen pair fell by 0.6% in the last session. The Stochastic RSI indicates an overbought market.
China maintained its benchmark lending rates as expected, with the one-year loan PR rate at 3.1% and the five-year LPR at 3.6%. Neo plans to launch its Firefly EV brand in Europe by early 2025, competing with Mercedes Smart and BMW's Mini. Meanwhile, Wall Street surged as cooler-than-expected inflation data boosted investor confidence. Gold soared, and US Treasury yields eased from multi-month highs.
Significant economic updates include:
The GBP/USD pair dropped by 0.4% in the last session. The MACD is currently signalling a negative trend.
Bitcoin paired with the dollar fell by 1.7% in the last session. The CCI is indicating a negative trend.
The oil-dollar pair traded sideways in the last session. The Stochastic indicator is giving a positive signal.
The AUD/USD pair gained by 0.5% in the last session. The RSI indicates the market is currently oversold.
Funds stolen from hacking cryptocurrency platforms surged by 21% in 2024, reaching $2.2 billion, according to a report from Chainalysis. This marked the fourth consecutive year where losses exceeded $1 billion, with hacking incidents rising to 303 from 282 in 2023. The US economy saw faster growth in the third quarter, with GDP increasing by an annualised 3.1%, driven by strong consumer spending. Meanwhile, oil prices fell as cautious signals from US and European central banks raised concerns about weak economic activity impacting demand.
Key economic events to watch include:
The EUR/USD pair remained largely unchanged in the last trading session. The MACD is currently indicating a negative signal.
The USD/JPY pair saw a slight rise of 0.1% in the last session. The RSI is giving a positive signal.
The GOLD/USD pair dropped by 0.3% in the last session. The Stochastic indicator is signalling a negative trend.
Volkswagen shares saw a modest rise of 0.1% in the last session. The MACD is giving a positive signal.
Oil prices rose as US crude inventories fell, but gains were limited after the Federal Reserve cut interest rates while signalling a slower pace of future reductions. The Fed's 25 basis-point cut set rates between 4.25% and 4.5%. Meanwhile, US stocks erased gains following the announcement, reflecting cautious market sentiment.
Key economic events to monitor include:
The Bitcoin/USD pair rose by 0.9% in the last session, after gaining as much as 2% earlier in the day. The Rate of Change (ROC) indicator is giving a positive signal.
Meta shares dropped by 0.7% in the last session. The Williams Percent Range indicator is currently giving a negative signal.
The AUD/USD pair fell by 0.4% in the last session. The Stochastic indicator is currently showing a negative signal.
Gold dipped by 0.2% against the dollar in the last session, as the RSI indicated a negative signal. A stronger US dollar and rising Treasury yields contributed to this decline.
Gold prices faced headwinds due to a stronger US dollar and climbing Treasury yields, as investors focus on the Federal Reserve’s final policy meeting of the year. Retail sales data in the US surpassed expectations, reinforcing economic momentum. Meanwhile, crypto.com CEO Chris Marel met with US President-elect Donald Trump to discuss proposals for a National Bitcoin Reserve.
Key events to monitor include:
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:
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