Daily Global Market Update

Euro's Positive Outlook

The Euro-Dollar pair rose by 0.5% in the last session. The Ultimate Oscillator's positive signal aligns with the overall technical analysis, suggesting a potential upward trend for the Euro.

Dollar's Decline Against Yen

The last session saw the Dollar drop 0.5% against the Yen. The Ultimate Oscillator is giving a negative signal, which is consistent with our overall technical analysis and may indicate further declines.

Gold's Recent Gain

The Gold-Dollar pair gained 0.5% in the last session. The Commodity Channel Index (CCI) indicates that we are currently in an overbought market, which traders should watch closely.

Google's Stock Retreat

The last session saw Google's stock drop by 0.9%. According to the Stochastic RSI, we are currently in an overbought market, which may signal a potential reversal or slowdown in the stock's recent uptrend.

Global Financial Headlines

The dollar slipped to a 5-month low against the Euro and other major currencies on expectations that the Federal Reserve could soon cut interest rates. As we approach the new year, trading volumes might remain muted due to holidays. Meanwhile, the global economy is ending 2023 stronger than anticipated, with inflation falling and potential interest rate cuts in 2024. However, risks persist as higher rates continue to impact markets. The pan-European stock 600 and other major indexes around the world are hovering near record highs, with oil and gas stocks leading the gains.

 Upcoming Economic Events

Here's a brief rundown of today’s anticipated economic releases:

• US Continuing Jobless Claims - 1330 GMT

• US Initial Jobless Claims - 1330 GMT

• US EIA Crude Oil Stocks Change - 1530 GMT

• Spain's Retail Sales - 0800 GMT

• Austria's Purchasing Manager Index - 0900 GMT

• Italy's 10-Year Bond Auction - 1030 GMT