Daily Global Market Update, December 10th 2024

Gold Gains in the Market

The last session saw gold rise by 0.9% against the dollar. The RSI is currently giving a positive signal.

Euro Stays Rangebound

The EUR/USD pair traded sideways in the last session. The Williams Percent Range indicator is signalling a negative trend.

Pound Makes a Minor Correction

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 Experiences a Drop

Bitcoin paired with the dollar dropped by 3.1% in the last session. The Stochastic indicator is giving a negative signal.

Global Financial Headlines

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.

Upcoming Economic Highlights

Key upcoming economic events include:

• US Core Inflation Rate – 1330 GMT

• UK Industrial Production – 0700 GMT

• Japan’s GDP Growth Rate – 2350 GMT

• Eurozone’s Industrial Production – 1000 GMT

• Germany’s Consumer Confidence – 0600 GMT