Daily Global Market Update

Bitcoin dipped slightly, while Tesla shares faced overbought conditions. The Aussie dollar and gold showed positive momentum. OPEC's increased oil output and Fed's dovish stance impacted currencies. Cryptocurrency exchanges thrived in 2024, with Binance leading. Key economic events include Japan's labor earnings, US retail sales, UK's BRC sales, Eurozone's GDP, and Germany's industrial production.

Bitcoin's Minor Decline

Bitcoin dipped slightly by 0.1% against the dollar in the last trading session. The Williams Percent Range indicator is currently signalling a negative trend.

 

 

Tesla Shares Face Overbought Conditions

Tesla shares dropped by 0.6% in the last session. The Commodity Channel Index (CCI) suggests the market is in an overbought condition.

 

 

Aussie Dollar's Positive Momentum

The AUD/USD pair rose by 0.2% in the last session. The MACD is giving a positive signal, indicating potential bullish momentum.

 

 

Gold's Minor Upward Correction

The gold-dollar pair experienced a slight rise of 0.1% in the last session. The MACD is indicating a positive trend, reflecting bullish sentiment in the market.

 

 

Key Market Highlights

OPEC oil output increased for the second consecutive month, driven by Libya's production recovery amidst resolved political tensions. Sterling strengthened against the dollar following dovish comments by the Federal Reserve, while the euro held steady due to ongoing political uncertainty in France. Cryptocurrency exchanges saw significant growth in 2024, with Binance leading the surge in average daily Bitcoin deposits, outpacing Kraken and Coinbase.

 

Upcoming Economic Events

Traders should keep an eye on the following economic updates:

• Japan's Labour Cash Earnings - 2330 GMT

• US Red Book Index - 1355 GMT

• UK's BRC Retail Sales - 0001 GMT

• Eurozone's GDP Growth - 1000 GMT

• Germany's Industrial Production - 0700 GMT

Regulace: FSA (Seychelles), FSCA (South Africa)
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