EUR/USD held steady after the previous session's uptick, trading around 1.0430 during Asian hours on Monday. The pair's uptick could be attributed to the US Dollar's (USD) decline after the Personal Consumption Expenditures (PCE) Price Index data from the United States (US). The November inflation report showed that year-on-year core PCE inflation, the Fed's preferred measure of inflation, rose steadily to 2.8%, slower than the 2.9% expected. Monthly core inflation grew modestly by 0.1%, against the 0.2% forecast and the previous release of 0.3%. Weaker-than-expected US inflation data...
Gold (XAU/USD) prices held steady near $2,625 during the early Asian session on Monday. The Federal Reserve's (Fed) hawkish stance may weigh on the yellow metal. However, a weaker greenback after a softer inflation report could limit its decline. The Fed cut interest rates in its December meeting as expected but signaled it would slow the pace of borrowing cost cuts further. The Fed's dot plot, a chart that projects the future path of interest rates, indicated a half percentage point rate cut in 2025, compared to a full percentage point cut projected in September. This, in turn,...
Oil prices edged higher on Monday, along with other risk assets, after U.S. data showed a slowdown in inflation, reviving hopes of further policy easing next year that would support global economic growth and oil demand. Brent crude futures were up 26 cents, or 0.4%, at $73.20 a barrel by 0141 GMT. U.S. West Texas Intermediate crude was up 31 cents, or 0.5%, at $69.77 a barrel. "Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal...
Gold (XAU/USD) prices struggled to capitalize on last week's modest recovery from one-month lows and fluctuated in a range around $2,625 during the Asian session on Monday (December 23). The US Dollar (USD) remained subdued below a two-year high touched on Friday and turned out to be a key factor acting as a tailwind for the commodity. Additionally, geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East further supported the safe-haven precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signal that it will slow the pace of interest rate...
The USD/CHF pair strengthened to around 0.8935, snapping a two-day losing streak during the early European session on Monday (12/23). A hawkish interest rate cut by the US Federal Reserve (Fed) provided some support to the greenback. Traders await the December US Consumer Confidence report and the Chicago Fed National Activity Index, due on Monday. The Fed cut interest rates by a quarter-point last week and has forecast only two rate cuts in 2025, down from its initial estimate of four. Hawkish signals from the US central bank, which has recently appeared concerned about persistent...