Daily Global Market Update
Pound's Modest Increase
The pound sterling showed resilience in the last trading session, marking a slight increase of 0.2% against the dollar. The Stochastic RSI indicates that we are currently in an oversold market.
Bitcoin's Downward Movement
Bitcoin experienced a decline of 0.9% against the dollar in the last session. The Commodity Channel Index (CCI) suggests we are in an overbought market territory.
Oil's Slight Uptick
Oil, measured against the dollar, saw a modest rise of 0.1% in the last trading session. The RSI indicator points to an oversold market condition.
Aussie Dollar's Gain
The Australian dollar climbed by 0.7% in the latest session. The Ultimate Oscillator is currently giving a negative signal.
Global Financial Headlines
Bitcoin's recent surge has rekindled interest in riskier cryptocurrencies, with Dogecoin, originally created as a joke, surging over 15% this week. In Europe, shares are down, particularly in travel and leisure, amid concerns of an economic downturn, influenced by recent weak data from Germany and awaited Eurozone GDP figures. China's crude oil imports fell by 99.2% year-on-year in November, the first annual decrease since April, driven by high inventory levels and slowing demand.
Upcoming Economic Highlights
Today’s key economic releases include:
• US Non-Farm Payrolls - 1330 GMT
• UK's CFTC GBP NC Net Positions - 2030 GMT
• Germany's Harmonized Index of Consumer Prices - 0700 hours GMT
• Eurozone's EFIN Meeting - 0700 hours GMT
• Japan's Eco Watchers Survey Current - 0500 hours GMT
• UK's Consumer Inflation Expectations - 0930 GMT
Weak PMIs Failed to Dampen GBPUSD
Eurozone PMI Temporarily Helps the Euro but Is Unlikely to Change the Trend
EBC Markets Briefing | Loonie closer to key support on easing policy
Stocks under pressure amid US election jitters, dollar extends gains
Technical Analysis – GBPJPY at 3-Month High
Has Bitcoin Completed a Correction?
EUR/USD Dips to Three-Month Low Amid Strong Dollar Demand
