FOREX TODAY: RISK SENTIMENT CONTINUES RECOVERY
FOREX TODAY: RISK SENTIMENT CONTINUES RECOVERY
Risk appetite continues to improve after lower-than-expected US PCE data on Friday, which indicated easing inflation.
Major stock indices, including the Nikkei 225, HSI, and NASDAQ 100, are up by about 1% since the week's start.
Markets expect the next Fed rate cut to occur no sooner than March 2025.
Cocoa futures reached an all-time high near $13,000 per ton but have experienced a minor retracement. Cocoa has gained about 40% in value recently.
The Canadian Dollar is the biggest gainer since Tokyo’s open.
The Swiss Franc is the biggest loser.
The EUR/USD pair remains in a long-term bearish trend, hovering just above $1.0300.
Canadian GDP data is set to be released, with a 0.2% month-on-month increase expected.
Markets may be relatively quiet today due to the upcoming Christmas holiday.
