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Gold's price builds on the previous rebound near $2,670 in Tuesday’s Asian trades even as the US Dollar (USD) sticks to its recovery mode, awaiting US Consumer Price Index (CPI) data on Wednesday for fresh directional impetus.
Gold prices are being supported by a shift in Chinese monetary policy, and geopolitical developments. China has resumed gold purchases after a six-month pause. From a technical perspective, gold is currently caught between support at $2650 and resistance at $2700. A break above $2700 could...
In focus today The most important data release of the day will be the US November CPI. We think inflation remained steady in headline terms (forecast: 0.2% m/m SA and 2.6% y/y vs. Oct: 0.2% m/m SA and 2.6% y/y). Core inflation likely slowed down slightly from the previous month (forecast: 0.2%...
In focus today The most important data release of the day will be the US November CPI. We think inflation remained steady in headline terms (forecast: 0.2% m/m SA and 2.6% y/y vs. Oct: 0.2% m/m SA and 2.6% y/y). Core inflation likely slowed down slightly from the previous month (forecast: 0.2%...
Swiss Franc strengthened broadly after inflation data for November indicated a modest uptick, stabilizing after months of decline. Although the annual CPI reading missed market expectations, the stabilization reduces immediate pressure on SNB to implement a significant 50bps rate cut at its...
The forex markets are generally staying in consolidation mode today with US on thanksgiving holiday. , and even Yen’s rally is losing some momentum. Nevertheless, the Japanese currency might find some renewed life with the Tokyo CPI data in the upcoming Asian session. BoJ Governing Kazuo Ueda...
Swiss Franc strengthened broadly after inflation data for November indicated a modest uptick, stabilizing after months of decline. Although the annual CPI reading missed market expectations, the stabilization reduces immediate pressure on SNB to implement a significant 50bps rate cut at its...
The forex markets are generally staying in consolidation mode today with US on thanksgiving holiday. , and even Yen’s rally is losing some momentum. Nevertheless, the Japanese currency might find some renewed life with the Tokyo CPI data in the upcoming Asian session. BoJ Governing Kazuo Ueda...
Fundamental Overview
The US Dollar continues to consolidate around the highs although it’s stronger against the commodity currencies. In the bigger picture, the market reached the peak in the repricing of interest rates expectations, and it will need stronger reasons to price out the remaining...
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