Daily Global Market Update

Gold edged up slightly but technical indicators suggest a potential decline. The Euro remained stable with negative momentum. The Pound gained ground despite negative signals. Bitcoin surged significantly with positive momentum. US stocks rose on rate cut hopes. Crypto markets rallied, attracting record inflows. SoftBank pledged a $100 billion US investment.

Gold's Minor Rise

The gold-dollar pair saw a minor rise of 0.1% in the last session. The Stochastic indicator is giving a negative signal.

 

 

Euro's Stability

The EUR/USD price remained largely unchanged in the last session. The ROC indicator is giving a negative signal.

 

 

Pound's Strong Gain

The GBP/USD pair rose 0.4% against the dollar in the last trading session. The Stochastic RSI is giving a negative signal.

 

 

Bitcoin's Strong Surge

The Bitcoin-dollar pair skyrocketed 2.6% in the last session. The ROC indicator is giving a positive signal.

 

 

Global Financial Headlines

The S&P 500 and NASDAQ rose as investors looked forward to an anticipated Federal Reserve interest rate cut later this week. Several key data releases are expected to provide insights into next year’s monetary policy.

Cryptocurrency markets continue to rally as Bitcoin reaches new highs, marking the tenth consecutive week of inflows for digital asset investment products. Crypto investment firm CoinShares reported inflows totalling $3.2 billion for the week of December 9th to 13th.

In other news, SoftBank CEO Masayoshi Son, alongside President-elect Donald Trump, announced a $100 billion investment in the US over the next four years. This investment aims to create 100,000 jobs, primarily focusing on AI technology.

 

Upcoming Economic Highlights

Traders should prepare for a busy economic calendar, with significant data releases over the next few days:

• Japan’s Labour Cash Earnings - 2330 GMT

• US Red Book Index - 1355 GMT

• UK's BRC Retail Sales - 0001 GMT

• Japan’s Overall Household Spending - 2330 GMT

• Eurozone’s Unemployment Rate - 1000 GMT

• Germany’s Industrial Production - 0700 GMT

Moneta Markets
Type: STP, ECN
Regulation: FCA (UK), FSA (Seychelles), FSCA (South Africa)
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