Daily Global Market Update - Dec 24fh, 2024

Gold's Decline Continues

Gold fell by 0.4% against the dollar in the last trading session. The Ultimate Oscillator indicates a negative signal.

Euro's Persistent Weakness

The EUR/USD pair dropped by 0.3% against the dollar in the last trading session. The MACD is giving a negative signal.

Pound Declines Amid Negative Sentiment

The GBP/USD pair fell by 0.3% in the last trading session. The Stochastic RSI indicates a negative signal.

Bitcoin's Mixed Signals

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.

Global Financial Headlines

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.

Upcoming Economic Highlights

Key events to monitor in the coming days include:

• US Redbook Index - 1355 GMT

• UK BRC Retail Sales - 0001 GMT

• Japan Overall Household Spending - 2330 GMT

• Eurozone Unemployment Rate - 1000 GMT

• Germany Industrial Production - 0700 GMT