Daily Global Market Update December 2nd, 2024

Oil's Decline Against the Dollar

The oil-dollar pair experienced a downward correction in the last session, falling by 0.2%. The Stochastic RSI is indicating a negative signal.

Aussie Dollar's Minor Rise

The Australian dollar rose slightly by 0.1% against the US dollar in the last session. The Rate of Change (ROC) indicator is signalling a positive trend.

Euro's Modest Climb

The euro-dollar pair saw a modest rise of 0.2% in the last session. The Rate of Change (ROC) indicator continues to signal positive momentum.

Yen Weakens Against the Dollar

The dollar-yen pair declined sharply by 1.1% in the last session. The MACD indicator is currently pointing to a negative trend.

Global Financial Headlines

China's factory activity expanded for a second consecutive month in November, reflecting the impact of recent stimulus measures. Meanwhile, the S&P 500 and Dow Jones reached record highs during a shortened Black Friday session, driven by technology stocks and increased retail activity. Investors are now awaiting the release of critical US employment data, which could influence the trajectory of interest rates and market sentiment.

Upcoming Economic Highlights

Key events in the upcoming days include:

• China's PMI data release

• US Non-Farm Payrolls and Unemployment Rate

• Eurozone Retail Sales

• UK Manufacturing Output

• Japan's Leading Economic Index