Gold (XAU/USD) prices rose for the third straight session on Thursday, after rising more than 27% in 2024, marking its best performance since 2010. The upward momentum was driven by US monetary easing, persistent geopolitical tensions, and record central bank buying. However, non-interest-bearing gold may face some headwinds as the Federal Reserve (Fed) is expected to take a more cautious approach to further interest rate cuts in 2025, signaling a shift in its aggressive monetary policy stance. The shift is driven by uncertainty surrounding potential policy changes under the Trump...
EUR/USD traded vulnerable and held near more than a month-low around 1.0350 on the first trading day of the year. The major currency pair is in a tough spot as the US Dollar (USD) holds near more than two-year highs, with the Dollar Index (DXY) trading around 108.50 on optimism that the Federal Reserve (Fed) will cut interest rates lower than previously anticipated this year. Source: FXStreet
Oil steadied in the first session of the new year as an industry report signaled US crude stockpiles continued to shrink. Brent traded below $75 a barrel after giving up an earlier gain, and West Texas Intermediate was near $72. A report from the American Petroleum Institute showed inventories fell by 1.4 million barrels last week, which would be a sixth straight draw if confirmed by government data later Thursday. Oil has been stuck in a narrow range since mid-October, with Brent posting a modest annual decline and WTI ending 2024 little changed. Investors...
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Brent crude futures rose 17 cents, or 0.06%, to $74.82 a barrel by 0547 GMT after settling up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures gained 19 cents, or 0.26%, to $71.91 a barrel after closing 73 cents higher in the previous session. China's factory activity grew in December, according to the private-sector...