The Australian Dollar holds gains following the PMI data release on Monday. The Caixin China Services PMI increased to 52.2 in December 2024, up from the previous reading of 51.5. The US Dollar Index hovers near 109.00, close to recent highs. The Australian Dollar (AUD) extends its gains for the third successive session against the…
Gold price holds steady around $2,640 in Monday’s early Asian session. US Manufacturing PMI improved to 49.3 in December vs. 48.4 prior, stronger than expected. Sustained geopolitical risks and a wave of purchases by central banks could lift the Gold price. The Gold price (XAU/USD) struggles to gain ground near $2,640 during the early Asian trading hours…
The Australian Dollar rises as the Financial Times reported that the PBoC is signaling potential rate cuts this year. The AUD recovered from two-year lows as stronger commodity prices provided support, particularly Oil and Gold. The US Dollar Index surged to a new multi-year high of 109.56 following the release of Jobless Claims on Thursday….
Gold price holds positive ground to near $2,625 in Thursday’s early Asian session. Geopolitical risks, central bank buying, and safe-haven flows might boost the Gold price. The expectation of a slower pace of the Fed rate cut might cap the upside for the yellow metal. Gold price (XAU/USD) trades with mild gains to around $2,625…
USD/JPY depreciates as traders assess the market sentiment of the BoJ raising interest rates in January. The Japanese Yen is set to decline more than 10% against the US Dollar in 2024. US Treasury yields fell by approximately 2% with 2-year and 10-year yields at 4.24% and 4.53%, respectively, on Monday. USD/JPY extends its losses…
Gold price is set to close the year with an impressive 27% gain, marking the strongest annual performance since 2010. The non-yielding metal receives downward pressure from the outlook of fewer Fed rate cuts in 2025. The safe-haven Gold remains backed by the prolonged Russia-Ukraine and Middle East conflicts. Gold price (XAU/USD) holds ground after…
The Japanese Yen gains ground as traders expect the BoJ to deliver an interest rate hike in January. Japan’s Jibun Bank Manufacturing PMI reached 49.6 in December, exceeding the expected 49.5 and prior 49.0 readings. The US Dollar remains subdued as US Treasury yields decline, with the 2- and 10-year at 4.32% and 4.62%, respectively….
EUR/USD appreciates as traders expect the ECB to delay its further rate cuts due to a recent uptick in inflation. ECB’s Holzmann said that Trump’s tariffs lead to a slowdown in growth overall, but also create inflationary pressure.” The latest FOMC Dot Plot anticipates only two rate cuts, down from the previously forecasted four. EUR/USD…
The US Dollar trades stable in very calm holiday trading on Friday. Monthly Industrial Production in Japan fell by 2.3%, less than the expected 3.5%, while big Chinese manufacturers also reported falling profits. The US Dollar Index (DXY) briefly slipt below 108.00, remains close to a two-year high. The US Dollar (USD) is trading a…
In 2023 European banks managed to outperform their US and UK peers by quite some distance while US and UK banks underperformed, although the rebound seen in the European banking sector in 2023 needs to be set in the context of years of underperformance by banks across Europe as a result of the turmoil of…