Oil prices rose on Wednesday.
U.S. crude stocks decreased, which supported the price increase.
The Federal Reserve reduced interest rates as expected.
However, the Fed indicated it will slow future rate cuts, limiting oil price gains.
JAPAN MOF'S MIMURA COMMENTS ON ECONOMIC OUTLOOK AND BOJ POLICIES Japan’s Ministry of Finance (MOF) official Mimura emphasized the need to monitor the sustainability of China's recent export growth. Mimura noted weak real consumption in Japan. He also highlighted the importance of watching the new
XAU/USD REMAINS FOCUSED ON ALL-TIME HIGHS Gold prices hovered around $2,700 as investors assessed Trump’s second term. The US Dollar weakened as investors became more risk-on ahead of Trump’s inauguration. The Federal Reserve is expected to keep interest rates unchanged in January. Gold maintained its bullish
EUR/USD PRICE FORECAST: FURTHER WEAKNESS LIKELY BELOW THE 200-DAY SMA EUR/USD rebounded sharply above 1.0400 on Monday. The US Dollar weakened significantly on Inauguration Day. Investors should pay close attention to Trump’s initial announcements this week. The Euro extended its recovery as the US Dollar faced
UK LABOR MARKET DATA RELEASED Unemployment benefits in the UK increased less than expected in December. The UK unemployment rate rose in November to its highest level since April. New unemployment benefit applications increased by 0.7 thousand in December, better than the expected 10.3 thousand. November’s applications