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The Oil-Dollar pair rose by 1.5% in the last session, peaking with a 1.9% gain during the day. The MACD is currently giving a positive signal, indicating potential upward momentum in the market.
The Aussie-Dollar pair remained range-bound in the last session. The Stochastic indicator is currently providing a negative signal, suggesting potential bearish momentum.
The Euro rose by 0.3% against the dollar in the last session. The Williams Percent Range indicator is signalling a negative trend, which could hint at short-term resistance.
The Dollar-Yen pair climbed by 0.6% in the last session. The Stochastic RSI is signalling that the market is currently in an overbought zone, suggesting caution for buyers.
China's economy is projected to grow by 5% this year, contributing nearly 30% of global growth. Broadcom’s shares surged 21%, reaching a valuation of $1 trillion as AI demand drives revenue potential. The NASDAQ index breached the 20,000 milestone last week, gaining 32% this year, while the S&P 500 rose by 27%. These developments underline the robust performance of US equities in 2024.
This week, traders should keep an eye on key events:
