The EUR/USD pair is trading with a mild negative bias near 1.0550 on Monday during the Asian trading hours. Investors will be closely watching the US Consumer Price Index (CPI) inflation report for November, due on Wednesday. On Thursday, the European Central Bank (ECB) interest rate decision will be in the spotlight. Investors will be looking for clues on what will happen next. Expectations for a quarter-point rate cut by the Federal Reserve (Fed) on December 18 increased last week after the employment report showed strong job creation, but not at a pace that would deter Fed officials from...
Gold rose above $2,640 an ounce on Monday, boosted by its appeal as a safe haven amid renewed geopolitical tensions in the Middle East, as well as growing expectations of a U.S. interest rate cut. Rebel forces in Syria toppled President Bashar al-Assad on Sunday, ending the Assad family's 50-year rule and raising concerns about a new wave of instability in the region. Friday's U.S. jobs report also indicated that the labor market continued to ease gradually, allowing the Federal Reserve to cut interest rates later this month. The market is now pricing in an 83% chance of a 25bps cut at...
US West Texas Intermediate (WTI) crude oil prices showed some resilience below the $67.00 round figure and attracted some buyers at the start of a new week. The commodity is currently trading just below mid-$67.00s, up 0.60% for the day, and for now, appears to have snapped a three-day losing streak to a three-week low hit on Friday. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, last week decided to delay a planned supply increase by three months to April and extend a full halt to cuts by one year to the end of 2026. Moreover, the worsening...