Gold Outlook: Fed Rate Cut Risk, Geopolitics & Key Levels
Gold’s price has remained relatively stable since our last update. In today’s report, we are to discuss the Fed’s interest rate decision next week, which in turn could prove to be a market mover for gold’s price, validity of the negative correlation of the USD with Gold and how various geopolitical issues are progressing. Also […]
CNY: Stronger Yuan fails to weigh on China’s export momentum – Commerzbank
After disappointing in October, Chinese exports returned to their growth path in November, rising again by 5.9% year-on-year.
EUR/GBP remains capped below 0.8750 despite positive Eurozone data
The Euro is picking up from six-week lows around 0.8725 on Monday, but remains capped below a previous support area at 0.8750 so far.
USD/JPY: Likely to trade in a range between 154.80 and 155.80 – UOB Group
US Dollar (USD) is likely to trade in a range between 154.80 and 155.80. In the longer run, for a sustained decline, USD must first close below 154.65, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Chinese exports reaccelerate after October’s short-lived contraction
Weak domestic demand and export overcapacity continues to be the prevalent theme at play in China, keeping market sentiment somewhat subdued, as investors need further evidence of resurgence of ailing domestic consumption, before fully committing capital into the Red Dragon. The latest trade data report for the month of November showcased the expansion of the […]
USD/INR gains on consistent overseas outflows, RBI’s interest rate cut
The Indian Rupee (INR) trades lower against the US Dollar (USD) at the start of the week.
Fed’s favourite gauge of inflation gets an update
Without a shadow of a doubt, the main attraction of the day and possibly the week, is the Federal Reserve’s preferred measure of assessing inflationary pressures, the Core PCE index, for the month of September. The expected impact from President Trump’s harsh tariffs has not yet materialized, with inflationary pressures remaining somewhat stagnant round and […]
Money markets bake-in rate cut after weak jobs data
The absence of concrete labour market data from the Bureau of Labor Statistics has forced market participants to shift their attention on “second-tier” data from the private sector, in order to form an accurate enough picture and update their forecasting models. The fact that October’s Nonfarm payrolls data may never get released, since government workers […]
Productive talks held, yet peace plan remains elusive
US special envoy to Ukraine, Steve Witkoff, travelled to Russia yesterday and spoke with Russian delegation in efforts of finding a comprehensively “fair” peace deal for the war in Ukraine. Albeit the talks being described as “constructive” by both parties, no deal has yet been reached, extending therefore the conflict until a future date. The […]
Absence of NFP data forces traders to focus on JOLTS, ADP prints
Given that the Non-Farm Payrolls data for October will almost certainly, never see the light of day, market participants are being forced to look elsewhere for clues about the health of the US labour market and best calibrate their financial models accordingly. The once severely overlooked, JOLTS and ADP non-farm employment prints, have now turned […]
Gold’s Weekly Update: Gold’s price renews its bullish tendencies
Since last week’s update, gold’s price has edged higher, signaling a possible renewal of the bullish tendencies for the precious metal. In today’s report, we are to discuss the validity of the negative correlation of the USD with Gold, the market’s expectations for the Fed as well as geopolitical issues that could affect gold’s price. […]
Copper futures rise on supply crunch
Ongoing shortages, looser monetary policy expectations, the potentiality for being included into President Trump’s tariff agenda and robust speculative positioning, has given a bullish undertone for the base metal in recent weeks, pushing its price higher, lifting it to 4-month highs. The most prominent reasons behind the recent rally have been the prolongment, but also […]
Is inflation on the rise in Europe?
The latest inflation expectations data from Eurozone edged slightly higher in October according to the latest survey, rising from September’s 2.7% reading to 2.8% , but failed to provide support for the Euro earlier today. At its October decision, the ECB opted for a pause scenario and kept its rates unchanged at the 2.15% level, […]
Oil Weekly Update: Traders zero in on Ukraine peace talks
Technical Analysis of Oil WTI Chart – Crude futures remain rangebound above the $58 per barrel area. Crude futures remained confined between the $61.50 (R1) and $58.00 (S1) levels for another week, as neither the bulls nor the bears took hold of the initiative. We maintain our sideways bias for the commodity given the lack […]
Silver set to challenge ATH peak
Silver futures climbed near record highs once again, as money market participants drastically increased the odds for a December rate cut, after softer economic data, dovish Fed speak, labour market weakness and speculations that a Trump loyalist will most likely head the Federal Reserve, once Powell’s term comes to an end in 2026. Weak retail […]
Italy Industrial Sales n.s.a. (YoY): 3.4% (September) vs -0.1%
Italy Industrial Sales n.s.a. (YoY): 3.4% (September) vs -0.1%
Italy Industrial Sales s.a. (MoM): 2.1% (September) vs -0.7%
Italy Industrial Sales s.a. (MoM): 2.1% (September) vs -0.7%
GBP: Sterling gains on UK budget relief – ING
The UK budget lifted Pound Sterling (GBP) modestly as fiscal pressures eased, but back-loaded tax measures and upcoming BoE rate cuts could keep the currency’s upside limited, ING’s FX analyst Chris Turner notes.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $53.41 per troy ounce, up 0.12% from the $53.35 it cost on Wednesday.
Day of reckoning for Reeve’s budget
The main attraction for the day is the upcoming unveiling of the infamous, Autumn Budget from UK Chancellor of Exchequer Rachel Reeves, which could potentially cause a destabilisation in bond and FX markets. The Chancellor has, time and time again, reiterated her “iron clad commitment” at saving the UK from its fiscal troubles, underscoring her […]