European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth and interest rates. The STOXX 50 edged up to 5,674, and the STOXX 600 gained 0.2% to close at a record 575. Sanofi rose 3% on better-than-expected third-quarter earnings, and Saab jumped 6% after raising its full-year organic sales forecast. NatWest also jumped 5% on higher third-quarter earnings and an improved performance target. ENI also jumped nearly 2% after releasing its earnings results. Meanwhile, Safran fell 1.4% despite beating analysts'...
Gold (XAU/USD) prices fell near a weekly low of $2,600 in the North American session on Monday. The precious metal faced selling pressure as the US Dollar (USD) recovered intraday losses and turned positive, with the US Dollar Index (DXY) back above 108.00. A higher US Dollar makes Gold prices an expensive bet for market participants. The 10-year US Treasury yield plunged to 4.55% on Monday. Lower yields on interest-bearing assets generally weigh on non-yielding assets, such as Gold, by increasing their opportunity cost. However, the relationship appeared positive on Monday. The outlook...
Silver (XAG/USD) prices traded cautiously near Friday's lows around $29.50 in thin volumes before the New Year on Monday. The white metal was broadly under pressure as the US Dollar (USD) outlook remained firm on expectations that a moderate policy easing cycle by the Federal Reserve (Fed) in 2025 would keep US Treasury yields elevated. The 10-year US Treasury yield fell 0.5% in the European session on Monday but is still almost 15% higher this calendar year near 4.60%. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, edged lower but remained...
EUR/USD traded sluggishly just above 1.0400 amid illiquid trading activity in the European session on Monday. The Euro (EUR) is set to end the calendar year down nearly 5.5% against the US Dollar (USD), which was hit particularly hard during the last three months of 2024 as the European Central Bank (ECB) maintained its dovish stance on interest rates. In addition, market participants are concerned about the Eurozone's economic growth as the impending tariff hikes from US President-elect Donald Trump are likely to destabilize its export sector. Source: FXStreet
The AUD/USD pair halted its five-day losing streak, trading around 0.6200 during European hours on Monday. The pair gained as the US Dollar (USD) remained weaker amid thin trading ahead of the New Year holiday, while the US Treasury bond yields depreciated. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of six major currencies, is trading around 108.00, with the 2-year and 10-year yields on the US Treasury note at 4.30% and 4.59%, respectively. Source: FXStreet
The Japanese Yen (JPY) remained strong against the US Dollar (USD) on Monday. The USD/JPY pair remained subdued as the Japanese Yen (JPY) strengthened on the possibility of the Bank of Japan (BOJ) raising interest rates in January following the release of the Tokyo Consumer Price Index (CPI) inflation data last week. Japan's Jibun Bank Manufacturing PMI came in at 49.6 in December, slightly beating the preliminary estimate of 49.5 and improving from 49.0 in November. While marking the highest level since September, it still signaled a decline in factory activity for the sixth straight...