Gold prices held steady on Tuesday helped by a weaker dollar, as investors awaited more U.S. economic data this week that could shed light on the Federal Reserve‘s monetary policy outlook amid surging market expectations of interest rate cuts. FUNDAMENTALS * Spot gold was flat at $2,027.15 per ounce, as of 0105 GMT. U.S. gold
Share: AUD/USD pulls back from recent five-month highs of 0.6735 amid a rebound in US Treasury bond yields. Regional Federal Reserve officials had pushed back against rate cut expectations. Traders await the Reserve Bank of Australia (RBA) last meeting minutes. The AUD/USD retreats from five-month highs of 0.6735 and drops below the 0.6700 figure courtesy
Japanese Yen is extending its broad-based pullback today. This movement appears to be a strategic response from traders lightening their positions in anticipation of the upcoming BoJ policy decision. Although a rate hike by the BoJ seems highly unlikely at this stage, there is speculation about potential adjustments in the central bank’s communication. These changes
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices struggled for momentum in the early trade on Monday as Street awaits for US inflation data due later this week for more clarity on the Federal Reserve’s interest rate path after a dovish pivot last week. The lackluster trade was despite the dollar index trading in red. Taking cues from the price of
Share: The Japanese Yen ticks lower against the US Dollar for the second straight day on Monday. The prevalent risk-on environment is seen as a key factor undermining the safe-haven JPY. The divergent Fed-BoJ policy expectations act as a headwind for USD/JPY and cap gains. Traders also seem reluctant to place aggressive bets ahead of
New Zealand Dollar strengthens broadly in an otherwise quiet Asian session today, leading Aussie along with it. This notable rise can partly be attributed to two key domestic factors: a significant improvement in consumer sentiment and robust data from the country’s services sector. In the broader context, Kiwi’s strength is also accentuated by monetary policy
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices struggled for momentum in early Asian hours on Monday as investors looked forward to U.S. inflation data due later this week for more clarity on the Federal Reserve‘s interest rate path after a dovish pivot last week. FUNDAMENTALS * Spot gold was little changed at $2,019.49 per ounce, as of 0041 GMT. U.S.
Share: DXY Index shows resilience despite the worst weekly performance over a month, hovering at 102.60. The US Dollar was lifted by strong S&P Global Services PMI figures from December. Dovish bets on the Fed may limit the upward movement. The US Dollar (USD), measured by the DXY index, is trading at 102.60, posting
USD The Fed left interest rates unchanged as expected with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was revised to show three
UPCOMING EVENTS: Monday: US NAHB Housing Market Index. Tuesday: RBA Meeting Minutes, BoJ Policy Decision, Canada CPI, US Building Permits and Housing Starts. Wednesday: PBoC LPR, UK CPI, US Consumer Confidence, BoC Summary of Deliberations. Thursday: Canada Retail Sales, US Q3 GDP Final, US Jobless Claims. Friday: Japan CPI, UK Retail Sales, Canada GDP, US
Reserve Bank of India (RBI) has set Monday, December 18 as the date for premature redemption of SGB 2017-18 Series XII of the sovereign gold bond. The price for premature redemption is Rs 6,199 per gram. Premature redemption in the SGB scheme is permitted after the completion of the fifth year from the date of
Share: USD/JPY is down almost 2% from Monday’s opening bids. A pivot from the Fed saw the US Dollar decline sharply across the broader forex market. Next week pits the BoJ’s last rate call of the year against US GDP & PCE figures. The USD/JPY wrapped up the trading week struggling to develop momentum in
TGIF. The JPY is the strongest and the EUR is the weakest as the North American session begins. The USD is mostly but moderately lower. The greenback is only higher vs the EUR and GBP. Yesterday, the EURUSD moved higher on follow through buying after the FOMC rate decision. The ECB did not thrill to
USDCAD daily chart The weather is cooling off in Canada but the currency has heated up. USD/CAD fell to a four-month low today despite some US dollar strength elsewhere. Bank of Canada governor Tiff Macklem helped along the move as he pushed back against rate cut talk. “We have not started having that discussion (about
Brent and U.S. crude futures finished at a small loss following a see-saw session, in which prices fell more than $1 a barrel at one point on Friday, as traders tried to reconcile mixed signals for oil demand in the coming year. Brent futures settled down 6 cents, or 0.08%, at$76.55 a barrel. U.S. West
Share: Mexican Peso dampened by a Fed official pushing back against interest rate cuts. The economy in the United States remains solid, according to a report by S&P Global. New York Fed President John Williams pushes back against rate cuts, a tailwind for USD/MXN. A Banxico survey shows economists expect 200 bps of rate cuts