Monthly Archives: December 2024
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
Dollar Surge on High PPI Reading
Written on December 29, 2024 at 11:44 pm, by
Market Summary The dollar index (DXY) climbed to a two-week high, reaching the 107.00 mark, following the release of U.S. economic data. While initial unemployment claims rose to 242,000, concerns over a rebounding PPI reading have fueled speculation that the Fed may adopt a more hawkish stance ahead of next week’s monetary policy decision. TheContinue Reading
Soft CPI Reading, Reinforces Fed Rate Cut
Written on December 29, 2024 at 11:42 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
