Patrick Harker, a US Federal Reserve official, confirmed that the central bank is continuing to lower interest rates. He emphasized that the Fed is committed to a more lenient monetary policy approach. The pace of rate cuts will depend on economic data. Harker acknowledged uncertainty in global events, such as:
GOLD PRICE FORECAST: NFP DATA CRUCIAL FOR SUSTAINING UPSIDE Gold holds near its one-month high of $2,678 as traders await the US Nonfarm Payrolls (NFP) data. Concerns over potential inflation from Trump’s policies are boosting gold's appeal as a safe-haven asset. Despite strong US Dollar and
The S&P 500 gained slightly by 0.16%, closing at 5,918.25. The Nasdaq Composite dropped 0.06%, ending at 19,478.88. The Dow Jones increased by 106.84 points (0.25%) to 42,635.20. Investors are considering the possibility of future rate cuts from
CALM BEFORE THE STORM: US BOND MARKETS STABILIZE AHEAD OF KEY DATA U.S. bond markets pause their sharp decline, which had previously impacted global financial markets. Investors are preparing for pivotal jobs data that could influence the Federal Reserve's future interest rate decisions. Treasuries experience a brief
PBOC SETS USD/CNY REFERENCE RATE SIGNIFICANTLY BELOW ESTIMATE The People's Bank of China sets today's USD/CNY reference rate at 7.1891, much lower than the estimated 7.3138. The PBOC uses a managed floating exchange rate system, allowing the yuan to fluctuate within a
GOLDMAN SACHS WARNS OF RISK OF SHARP MARKET CORRECTION IN 2025 Markets Are "Perfectly Priced In": Global equity markets have likely reached optimal levels, leaving room for a potential correction. Inflation and Interest Rate Concerns Resolved: High inflation and fears of a hard landing from 2022-2023 have eased.
AUD/USD FALLS AS US LABOR DATA, INFLATION FIGURES, AND TRUMP'S THREATS PRESSURE THE AUSSIE AUD/USD falls to 0.6215 on Wednesday due to US labor data and tariff threats Initial Jobless Claims drop to 201,000, and ADP data shows 122,000 jobs added in December
AUSTRALIAN RETAIL SALES IN NOVEMBER POST HIGHEST GROWTH IN A YEAR Retail sales in Australia grew by 0.8% in November The growth was below the expected 1.0% November's growth is the highest since November 2023 Retail sales growth in October was 0.5%
JAPANESE YEN GAINS SLIGHTLY AS BASE WAGES REACH 32-YEAR HIGH Base salaries in Japan rise at the fastest pace in 32 years The JPY gains a bit on the positive wage data Data seen as supporting potential interest rate hikes by the Bank of Japan Wages boost market expectations for
XAU/USD EYES MULTI-WEEK HIGHS AMID RISK-AVERSION XAU/USD at $2,666.56 Risk-aversion keeps demand for safe-haven assets like gold Mixed employment data had little impact on US Dollar Headlines about President-elect Trump's tariff plans cause market volatility XAU/USD extends weekly gains, aiming for higher highs
CHINA'S INFLATION REACHES LOWEST LEVEL SINCE MARCH China's consumer price inflation slows to 0.1% YoY in December December’s CPI matches forecasts for a 0.1% increase November's CPI was slightly higher at 0.2% December marks the lowest inflation rate since March
CRYPTO MARKET LOSES $320B, BTC DROPS 3% DESPITE STRONG ETF INFLOWS Cryptocurrency market capitalization drops 10% to $3.2 trillion in 24 hours BTC declines by 3%, falling to $94,200 despite $52M Bitcoin ETF inflows Despite price drop, Bitcoin ETFs saw $52M in inflows, bringing weekly total to $1.