Gold price gains positive traction on Thursday amid sliding US bond yields and a weaker USD. Geopolitical tensions and China’s economic woes also contribute to the intraday positive move. A further rise in equity markets caps any meaningful upside for the safe-haven precious metal. Gold price (XAU/USD) attracts fresh buying on Thursday, albeit lacking a
Share: Canadian Dollar falls back as broader markets turn into the US Dollar. Canada GDP flattens as economy lags, odds of future rate cuts beginning to rise. Fed’s Wednesday rate call has markets twisting, USD is Tuesday’s best performer. The Canadian Dollar (CAD) has seen a quick end to its almost-rally on Monday,
Share: Pound Sterling trades in a tight range as investors eye BoE monetary policy decision for further action. The BoE is expected to keep interest rates unchanged amid easing labor market conditions and subdued retail demand. Deepening Middle East tensions dent demand for risk-perceived assets. The Pound Sterling (GBP) struggles to find a
Share: Australian Dollar’s strength is reinforced by stronger Retail Sales. Australia’s Retail Sales surged to 0.9%, significantly higher than the market consensus of 0.3%. US and China have agreed on a meeting between Presidents Joe Biden and Xi Jinping in November. US Dollar encountered a challenge after a moderate Core PCE Price Index data on Friday.
Share: Mexican Peso extends its gains and is set to finish below the 18.12 mark. Mexico’s trade deficit widens, but Peso holds gains amidst flight to safety in markets. US inflation data justifies higher interest rates, but the market is skeptical of the Fed raising rates past the current range. Mexican Peso (MXN)
Share: The Canadian Dollar continues to lose ground, down 1% on the week. Loonie traders will be looking ahead to Canada GDP figures next Tuesday. Crude Oil prices also down for the week, draining support from the CAD. The Canadian Dollar (CAD) is seeing more declines for Friday and is set to mark
Share: The US Dollar is trading soft against its rivals and seems to be consolidating the last session’s gains. The Core PCE from September matched expectations at 3.7% YoY. The US bond yields are mixed, while dovish bets on the Fed remain high. Focus now shifts to next week’s Fed decision. The US
Share: Gold price remains sideways as the US core PCE inflation reading was in line with estimates. The downside in the Gold price remains cushioned by escalating tensions in the Israel-Palestine conflict. US Yellen sees Treasury yields elevated on Fed’s “higher for longer” interest rates outlook. Gold price (XAU/USD) trades in a tight range
Share: Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to leave the key interest rates unchanged in October and responds to questions from the press. ECB press conference key quotes “The economy is likely to remain weak for the rest of the year.” “The economy should strengthen over
Share: The Bank of Canada (BoC) announced on Wednesday that it left the benchmark interest rate unchanged at 5% following the October policy meeting. This decision came in line with the market expectation. BoC Governor Tiff Macklem will explain the policy decisions and comment on the policy outlook in a press conference starting
