Gold drifted lower to around $2,650 per ounce on Thursday, halting two days of gains as investors continued to assess the Fed's policy outlook ahead of key jobs data. The latest FOMC minutes indicated inflation is likely to slow this year, but policymakers noted the risk of persistent price pressures, partly due to Trump's policies. The central bank also signaled that it may be nearing a point to slow the pace of policy easing, reducing the appeal of the non-yielding metal. Meanwhile, gold found support after a weaker-than-expected private employment report for December, reinforced the...
The Australian Dollar (AUD) extends its losses for the third consecutive day against the US Dollar (USD), with the AUD/USD pair holding losses following mixed economic data released on Thursday. Traders are now focused on Friday's US Nonfarm Payroll (NFP) report, for additional policy direction insights. Australia's trade surplus rose to 7,079 million in November, surpassing the expected 5,750 million and the previous reading of 5,670 million (revised from 5,953 million). Exports increased by 4.8% month-on-month (MoM) in November, up from 3.5% (revised from 3.6%) in October. Meanwhile,...
The Japanese Yen (JPY) gains some positive traction following the release of stronger wage growth data from Japan earlier this Thursday and for now, seems to have snapped a three-day losing streak against its American counterpart. Moreover, talks that large Japanese firms are likely to increase wages by about 5% on average in 2025 and broadening inflationary pressures back the case for another rate hike by the Bank of Japan (BoJ). Apart from this, the cautious market mood, persistent geopolitical risks and concerns about US President-elect Donald Trump's tariff plans underpin the safe-haven...