GOLD REMAINS ON ITS BACK FOOT AFTER STRONG US RETAIL SALES Gold (XAU/USD) failed to rise above $2,665 and resumed its downward trend as the U.S. dollar strengthens. Strong U.S. retail sales in November and better-than-expected economic data are boosting expectations of a "hawkish"
US RETAIL SALES MIXED FOR SECOND STRAIGHT MONTH November Retail Sales: U.S. retail sales grew by 0.7% in November, slightly exceeding the expected 0.6% increase. October Revision: October's retail sales were originally 0.4% but were revised upward to 0.5%. Mixed Results: This marks
CANADA'S NOVEMBER INFLATION READINGS MIXED Canada's Consumer Price Index (CPI) showed no change in November, recording 0%, which was below the expected 0.1% increase. The CPI had contracted by 0.4% in October. On an annual basis, inflation slowed to 1.9% in November, which
EUR/USD PRICE FORECAST: CONSOLIDATIVE PHASE AROUND 1.0500 CONTINUES The EUR/USD pair is staying around the 1.0500 level, with small movements in a 60-pip range. It has posted slight gains but lacks a clear direction. Investors are cautious ahead of the U.S. Federal Reserve's
US MARKETS SIZZLE, WHILE GLOBAL MARKETS FIZZLE Wall Street is doing very well as traders prepare for important interest rate decisions from central banks around the world. The U.S. economy is growing strongly, its best since October 2021, boosting market confidence. The U.S. services sector is performing better
Goldman Sachs shared its prediction about US Federal Reserve actions. They expect no interest rate cuts at the January meeting. The Federal Reserve is likely to hint at slower rate cuts in the future. This may be discussed in the Federal Open Market Committee meeting this week.
Bitcoin Hits Record High: Bitcoin's price jumped nearly $4,000, reaching a new all-time high of $107,000. Market Optimism: Investors are optimistic about the future of digital currencies. Donald Trump's Role: President-elect Donald Trump hinted at "something amazing" planned for the digital currency
The U.S. Federal Reserve is expected to cut interest rates by 25 basis points at its December 17-18 meeting. Updated economic forecasts will be released, showing plans for rate cuts in 2025 and possibly 2026. The Fed faces challenges like high inflation, a strong job market, U.S. election
The US dollar index dropped slightly for the second consecutive session on Monday. Traders are awaiting the US Federal Reserve’s final monetary policy decision for the year. Markets expect a 25 basis point interest rate cut. The CME Group’s tracker shows a 99.1% chance of this rate
The US dollar dropped slightly on Monday, continuing losses for the second day. The dollar moved away from its two-week high due to profit-taking and corrections. A halt in the rise of 10-year US Treasury bond yields also added pressure. Investors are waiting for key US economic data to gauge
Oil prices fell on Monday after reaching high levels recently. The drop was due to weak consumer spending data from China. China is the world's largest importer of oil, so its economy heavily impacts oil demand.
CHINESE FOREIGN MINISTER WANG YI DELIVERS KEYNOTE ADDRESS China's yuan is set at 7.2819 to 7.2875 range, as estimated in a survey. The official yuan fixing is reported at 7.2847. The People's Bank of China injects 355.4 billion yuan into the market