The Gold rally halts right below a one-month high at $2,720, but downside attempts are limited. Higher Treasury yields are acting as support for the US Dollar and weighing on the recent Gold rally. XAU/USD broader technical picture remains positive, … [Continue reading]
China’s Commerce Ministry: Open to communication with Trump administration’s economic, trade team
Chinese Commerce Ministry said in a statement on Thursday that “China is open to contact and communication with the Trump administration's economic and trade team.” Commenting on Australian lobster imports, the Ministry said that “China and Australia … [Continue reading]
Gold Price Forecast: XAU/USD buyers take a breather ahead of US PPI inflation data
Gold price turns lower after hitting five-week highs near $2,725 early Thursday. Rising US Treasury bond yields offset Fed rate cut optimism ahead of US PPI, jobs data. Gold price pulls back before the next push … [Continue reading]
Mexican Peso appreciates ahead of US PPI data
Mexican Peso appreciates as US November inflation data meets estimates, favoring Fed’s easing. Mexico’s inflation continues to edge lower, enhancing prospects for a bigger Banxico rate cut. Investors anticipate a 25 bps rate cut by the Federal … [Continue reading]
Bitcoin reclaims $100K following release of US CPI data for November
Bitcoin reclaimed the $100K level as US November's inflation data aligned with expectations. Market participants expect the Fed to cut rates by 25bps due to the steady inflation figures. The general crypto market also saw an uptick of over 4%, … [Continue reading]
EUR/USD Price Forecast: Bears not giving up despite US CPI figures
EUR/USD Current price: 1.0517 The United States Consumer Price Index met expectations in November. The European Central Bank set to announce rate cuts on Thursday. EUR/USD is technically bearish and may fall towards 1.0440. The EUR/USD pair traded … [Continue reading]
CEE: FX remains rather muted in EUR-crosses – ING
After the inflation numbers in Hungary and the Czech Republic, this morning we also saw the numbers in Romania. November inflation rose from 4.7% to 5.1%, slightly above market expectations, ING’s FX analyst Chris Turner notes. The complete … [Continue reading]
USD/INR trades flat amid likely RBI’s intervention
The Indian Rupee holds steady near an all-time low in Wednesday’s early European session. The dovish bets after the government named career bureaucrat Sanjay Malhotra as the new RBI governor might weigh on the INR. Possible intervention by … [Continue reading]
WTI remains capped below $68.50 on disappointing Chinese data, surprise climb in crude inventories
WTI trades with mild gains near $68.20 in Wednesday’s early Asian session. Discouraging Chinese economic data and a surprise climb in crude inventories drag the WTI lower. US crude stockpiles rose 499K barrels last week, noted API. … [Continue reading]
Gold price nears $2,700 as rate cut expectations fuel rally
Gold prices surge toward $2,700, supported by strong market anticipation of a Fed rate cut this December. US small business optimism rises, yet traders await crucial US CPI and PPI data later this week. Speculation about China's central bank Gold … [Continue reading]