Daily Global Market Update
Oil's Decline Against the Dollar
The oil-dollar pair fell by 1.7% in the last trading session. The Williams Percent Range indicates that the market is currently oversold.
Aussie Dollar's Oversold Market
The AUD/USD pair declined by 1% in the last session. The Stochastic RSI signals that the market is oversold.
Euro's Minor Correction
The EUR/USD pair edged lower by 0.1% in the last trading session. The Stochastic indicator is currently giving a positive signal.
Dollar-Yen Pair Trades Sideways
The USD/JPY pair remained flat during the last trading session. According to the Williams Percent Range, the market is oversold.
Global Financial Headlines
This week, a critical inflation report is expected to test the resilience of US stocks, with the S&P 500 advancing over 27% year-to-date. A US federal appeals court has upheld a decision requiring ByteDance to divest TikTok by next year, impacting the app's operations in the US. Meanwhile, the People's Bank of China resumed gold purchases in November, solidifying its position as the top official sector buyer of 2023.
Upcoming Economic Highlights
Notable economic events to watch include:
• Japan's Labour Cash Earnings - 2330 GMT
• Eurozone's Unemployment Rate - 1000 GMT
• Germany's Industrial Production - 0700 GMT
• US Core Inflation Report - 1230 GMT
EUR/USD Unchanged Amid Mixed News and Lingering Risks
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Yen Edges Higher as Market Capitalises on News-Driven Rebound
Week 10 of EBC’s Million Dollar Trading Challenge II: Bold Moves, Big Lessons
German economic sentiment rebound supports the euro
US Dollar Roars Back in a Blaze of Glory as Market Shrugs Off Recession Fears
US 100, EURUSD, GBPUSD
