Trading news

Gold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.

GBP/USD lost momentum on Monday, holding near 1.3100 as investors grapple with an extremely short week.

The USD/JPY pair edges higher to around 156.85 during the early Asian session on Tuesday. Fiscal concerns and the Bank of Japan (BoJ) rate hike uncertainty exert some selling pressure on the Japanese Yen (JPY) against the US Dollar (USD).

GBP/JPY trims some of last Friday’s losses, is up 0.35% as the Japanese Yen weakens despite efforts and threats by Japanese authorities, to stabilize the JPY. At the time of writing, the cross-pair trades at 205.64, after reaching a low of 204.94.

The Canadian Dollar (CAD) struggled to find upward momentum against the US Dollar (USD) on Monday, churning in an uneasy holding pattern near seven-month lows.

Silver (XAG/USD) rallies sharply during the North American session, edged up more than 2.50% after bouncing off daily lows of $49.73 and trades at $51.37 at the time of writing.

EUR/USD treads water on Monday, registering modest gains of more than 0.10%, as the US Dollar (USD) consolidates despite dovish comments by Federal Reserve (Fed) officials. Although expectations for a rate cut increased, the pair trades at 1.1525 after hitting a daily high of 1.1550.

South Korea Consumer Sentiment Index up to 112.4 in November from previous 109.8

Federal Reserve (Fed) governor and President of the Federal Reserve Bank of San Francisco spoke at an interview for the Wall Street Journal on Monday and said that she still thinks the Fed can bring inflation back to its 2% target.

The US Dollar (USD) added to Friday’s small pullback and flirted with the area of three-day lows as investors continued to pencil in further interest rate cuts by the Federal Reserve.

The New Zealand Dollar (NZD) trims a portion of its earlier losses against the US Dollar (USD) on Monday, as the Greenback stalls amid rising expectations of a Federal Reserve (Fed) interest rate cut next month.

Gold (XAU/USD) rallies sharply on Monday, gaining 0.80% as investors seem confident that the Federal Reserve (Fed) will slash rates at the December meeting as US economic data continues to flow. At the time of writing, XAU/USD trades near $4,100 after hitting a daily low of $4,040.

AUD/USD trades around 0.6460 on Monday at the time of writing, virtually unchanged on the day as the pair consolidates near last week’s three-month lows. The Australian Dollar (AUD) holds steady but struggles to attract fresh buying interest amid a cautious market backdrop.

United States 2-Year Note Auction: 3.489% vs previous 3.504%

European Central Bank (ECB) governor and Deutsche Bundesbank President Joachim Nagel spoke at the at the Frankfurter Impulse event, in Frankfurt on Monday. He claimed that although food inflation remains stubborn, the current level of the euro at $1.16 is not a cause for concern

West Texas Intermediate (WTI) Crude Oil is attempting a modest rebound on Monday, snapping a three-day losing streak as traders balance revived December Federal Reserve (Fed) interest rate cut expectations with ongoing Russia–Ukraine peace-talk developments.

The Dow Jones Industrial Average (DJIA) found some room on the high side on Monday, kicking off a holiday-shortened trading week with a 200-point jump to reclaim the 46,500 region.

The GBP/USD remains subdued during the North American session, trading unchanged at around 1.3088 as traders wait for the release of the UK’s budget amid a shortened week due to the Thanksgiving holiday in the US.

United States Dallas Fed Manufacturing Business Index declined to -10.4 in November from previous -5

The Japanese Yen (JPY) is soft, down a modest 0.2% against the US Dollar (USD) as it continues to trade in a manner that is completely disconnected from yield spreads and broader fundamentals, Scotiabank's FX strategists Shaun Osborne and Eric Theoret report.