Gold is trading higher for the fifth consecutive session in the middle of the European session on Monday, December 15th, trading just $40 away from its previous record high set in October. This comes as the US dollar and US Treasury yields weaken amid anticipation of economic data to be released this week. Gold is trading up approximately 0.98% at...
Preliminary estimates from the UK's Office for National Statistics show that the UK's gross domestic product (GDP) unexpectedly fell by 0.1% in October, matching the September figure, while forecasts had predicted growth of 0.1%. This means the UK economy contracted by 0.1% in the three months to October, compared to growth of 0.1% in the three months to September. The...
The Swiss National Bank (SNB) decided to keep its interest rate at zero percent (0.00%), unchanged from expectations, at its meeting earlier today, Thursday, December 11. This marks the second consecutive meeting where the rate remains unchanged, following six consecutive rate cuts. The bank also announced its readiness to intervene in the foreign exchange market if necessary. In its policy...
Australia's unemployment rate remained unchanged at 4.3% in November, a slight increase of 0.2%, according to figures released by the Australian Bureau of Statistics (ABS) at the start of Asian trading on Thursday, December 11. This was better than market expectations, which had anticipated a rise to 4.4%. The labor force participation rate also declined slightly to 66.7% from 66.9%...
The Bank of Canada kept its target overnight interest rate unchanged at 2.25%, a 25 basis point increase, as expected, after three consecutive rate cuts. It also maintained the key interest rate for banks at 2.50% and the deposit rate at 2.20%. The Bank's report stated that economic growth unexpectedly rose to 2.6% in the third quarter, with expectations of...
Data released by China's National Bureau of Statistics on Wednesday, December 10, showed that the annual Consumer Price Index (CPI), a key measure of inflation, rose to 0.7% year-on-year in November, following a 0.2% increase in October. This figure matched market expectations and marked the highest reading since February of last year. Food prices led the way, rising 0.5% month-on-month...
Gold is trading higher with some stability above $4,200 an ounce in midday European trading on Tuesday, December 10th, amid anticipation of the US Federal Reserve's final meeting of the year on Wednesday. Market expectations of an interest rate cut are expected to support the rise in the precious metal, which is trading up by about 0.33% at $4,203 an...
At its meeting this morning, Tuesday, December 9, the RBA Board decided to maintain the cash rate at 3.60%, as expected, for the third consecutive meeting, following three rate cuts this year in February, May, and August. In its policy statement, the RBA noted that inflation has declined significantly since its peak in 2022. The Board believes that the recent...
Crude oil prices rose by more than 1% in midday trading on Monday, December 8, the opening session of the week, following gains for three consecutive sessions. This comes amid ongoing monitoring of developments regarding a potential peace agreement between Russia and Ukraine. Brent crude is down approximately 1.07%, trading at $63.07 per barrel, while US crude (WTI) is trading...
Asian markets closed higher on Monday, December 8, the opening trading day of the week, with the exception of the Hang Seng Index, which fell by more than 1% as selling pressure continued in the technology sector and artificial intelligence stocks. On the economic data front, according to customs data released this morning, Chinese dollar-denominated exports rose 5.9% in November,...