Blogs

'Following slowing eurozone inflation European stock indices begin the last month of the year on a positive note' says Axel Rudolph, Senior Market Analyst at online trading platform IG.

Gold price extended to a new seven-month high in the mid-North American session after the US Federal Reserve Chair Jerome Powell welcomed recently revealed soft inflation data, though stressed core inflation “is still too high.” At the time of writing, the XAU/USD is trading at around $2059, gaining more than 1.10%.

The USD/JPY trims some of its Thursday gains on Friday, diving below the Ichimoku Cloud (Kumo) early in the North American session.

In Friday's trading session, the Australian Dollar (AUD) found demand against its US counterpart, with the AUD/USD pair making gains and trading at around 0.6650.

Despite the Federal Reserve continuing to deliver a restrictive policy stance in 2023, Gold posted a very respectable performance, which saw prices hit $2,000 several times.

FOMC to cut in 2024, with an easing cycle of 200 bps, economists at ANZ Bank report.

Oil price witnessed an average 10% drop during November. Economists at ABN Amro analyze Oil’s market outlook.

The Bank of Canada (BoC) is set to announce its Interest Rate Decision next week.

The US Dollar (USD) is on a crossroad where it can either close the week in the green or in the red. The US Dollar Index (DXY) has made a staggering recovery on Thursday and was back at its opening price from Monday.

EUR/USD declined below the 1.09 mark. Economists at Société Générale analyze the pair’s outlook.