Monthly Archives: December 2024
Euro Weigh on Eurozone Political Uncertainty
Written on December 29, 2024 at 11:47 pm, by
Market Summary The U.S. dollar remained stable in yesterday’s session ahead of the Fed’s interest rate decision, which is scheduled for tomorrow. The market widely expects a 25 basis points rate cut, which has already been priced in. However, traders are closely watching today’s U.S. Retail Sales data to gauge the strength of the dollar.Continue Reading
Gold Remains Weak Ahead of Fed’s Interest Rate Decision
Written on December 29, 2024 at 11:46 pm, by
Market Summary Gold has declined over the past two sessions as the market braces for a pivotal Fed interest rate decision this week. Robust U.S. economic data has reinforced expectations of a hawkish stance from the Federal Reserve, bolstering the dollar and putting downward pressure on the precious metal. Should Fed officials signal a moreContinue Reading
Soft CPI Reading, Reinforces Fed Rate Cut
Written on December 29, 2024 at 11:43 pm, by
Market Summary Yesterday’s US CPI report, which aligned with market expectations, strengthened market bets on a December Fed rate cut. The dovish Fed outlook pressured the dollar, which struggled to hold recent highs. Wall Street rallied on the news, anticipating lower borrowing costs. In the commodity market, Safe-haven gold benefited from the weaker dollar andContinue Reading
