BITCOIN TESTS $100K AGAIN The cryptocurrency market dropped 3% in 24 hours, with capitalization falling to $3.51 trillion, its lowest in over a week. Bitcoin is once again testing the $100,000 level, attempting to dip below this round figure. While Bitcoin's decline mirrors that of stocks,
GOLD PRICE FORECAST: XAU/USD APPROACHES RECENT LOWS AROUND $2,580 XAU/USD is trading at $2,590.05, moving towards recent lows around $2,580. The Bank of Japan and the Bank of England kept rates unchanged in their December meetings, while the U.S. revised Q3 GDP figures
US DOLLAR SET FOR WEEKLY GAINS AHEAD OF CORE INFLATION DATA The US dollar was on track for weekly gains after a strong performance earlier in the week. The dollar eased slightly on Friday as traders awaited key inflation data. Focus is on the upcoming release of the Federal Reserve&
The US economy grew at a 3.1% annual rate from July to September (Q3). This is an update to earlier estimates. Growth was supported by strong consumer spending. Higher exports also contributed to the growth.
El Salvador has made changes to its Bitcoin policies. These changes are part of a $1.4 billion agreement with the International Monetary Fund (IMF). The country previously adopted Bitcoin as legal tender in September 2021. The IMF's involvement has influenced El Salvador's cryptocurrency strategies.
ITALIAN BUSINESS AND CONSUMER CONFIDENCE DATA RELEASED Manufacturing Confidence: Italy's manufacturing business confidence came in at 85.8, below the forecast of 86 and the previous reading of 86.5. Consumer Confidence: Italian consumer confidence stood at 96.3, lower than the forecast of 97 and slightly down
EUR/USD PRICE FORECAST: SELLERS EYEING LOWER LOWS EUR/USD is trading around 1.0377, with a retreat from an intraday peak of 1.0421. Stronger-than-expected U.S. economic data fueled demand for the U.S. Dollar, including a revised 3.1% Q3 GDP growth and better-than-expected jobless claims. The
Core PCE Price Index (YoY) (Year-over-Year, November) Time: 16:30 Previous: 2.8% Forecast: 2.9% Core PCE Price Index (MoM) (Month-over-Month, November) Time: 16:30 Previous: 0.3% Forecast: 0.2% Michigan 1-Year Inflation Expectations (December) Time: 18:00 Previous: 2.6% Forecast: 2.9% Michigan 5-Year Inflation Expectations
GOLD PRICE HOLDS STEADY AROUND $2,600, UPSIDE LIMITED Gold (XAU/USD) remains around $2,600, supported by haven flows amid concerns of a U.S. government shutdown. Geopolitical risks and trade war fears lead to a modest pullback in U.S. Treasury bond yields, boosting gold demand. The Federal
US NATURAL GAS INVENTORIES FALL LESS THAN EXPECTED U.S. natural gas inventories dropped by 125 billion cubic meters (bcm) during the week ending December 13. The decline was slightly smaller than the anticipated 126 bcm drop. The previous week saw a larger 190 bcm drop in inventories.
US EXISTING HOME SALES BEAT EXPECTATIONS IN NOVEMBER November existing home sales in the U.S. showed better-than-expected results, according to the National Association of Realtors. The data indicated a stronger housing market than anticipated for November. The figures were released on Thursday, providing an optimistic outlook for the housing
BANK OF ENGLAND HOLDS INTEREST RATES AT 4.75% AFTER INFLATION UPTICK The Bank of England kept interest rates at 4.75% during its final meeting of the year. This decision came after U.K. inflation rose to an eight-month high. Market Economists widely anticipated the rate hold due to