The Canadian Dollar staged a modest recovery on Wednesday, gaining 0.2% against the US Dollar. This uptick followed the Bank of Canada’s decision to implement another 50-basis-point interest rate cut.BoC Takes Aggressive StanceThe central bank’s latest move underscores its commitment to stimulating economic growth in the face of weakening economic …

Gold prices climbed on Wednesday, December 11, 2024, as the latest inflation data increased the likelihood of a Federal Reserve interest rate cut next week.Spot gold gained 0.7% to $2,713.29 per ounce, while U.S. gold futures rose 1.4% to $2,756.00. The U.S. Consumer Price Index (CPI) for November came in …

Bank of Canada (BoC) took a decisive step on Wednesday, slashing its policy rate by 50 basis points to 3.25%. This move, widely anticipated by market analysts, aligns with the central bank’s efforts to stimulate economic growth and combat inflationary pressures. The Canadian Dollar weakened further against the US Dollar …

The US Dollar strengthened further on Wednesday, buoyed by rising interest rates and anticipation of the upcoming US CPI report. The Greenback’s strength was underpinned by rising Treasury yields, which reflected growing expectations for further interest rate hikes from the Federal Reserve. In the forex markets, the Euro weakened against …

Gold prices have seen a recent surge, reaching a two-week high driven by a combination of factors. Geopolitical tensions, trade war fears, and anticipated rate cuts by major central banks have boosted safe-haven demand for gold. However, rising US bond yields and a stronger US Dollar have capped the precious …

The upcoming US Consumer Price Index (CPI) report, scheduled for release on Wednesday, December 11th, is poised to significantly influence the Federal Reserve’s (Fed) monetary policy decisions. While markets have been anticipating a 25 basis point rate cut in December, a higher-than-expected inflation reading could prompt the Fed to reconsider …

The US Dollar Index (DXY) has exhibited remarkable strength, driven by a confluence of factors. A robust US economy, characterized by a resilient job market, strong consumer spending, and robust corporate earnings, has underpinned the dollar’s appeal. The Federal Reserve’s aggressive monetary tightening, including interest rate hikes and quantitative tightening, …

The Australian dollar continued its decline, influenced by the interest rate decision announced by the Reserve Bank of Australia (RBA) in the early hours of Tuesday. The decision included keeping the interest rate unchanged at the December meeting of the Monetary Policy Committee.   The AUD/USD pair dropped to 0.6376 …

The US stock market hung in a state of cautious optimism on Tuesday as investors awaited the release of the Consumer Price Index (CPI) data on Wednesday. This crucial economic indicator will provide valuable insights into the trajectory of inflation and, consequently, the Federal Reserve’s forthcoming interest rate decision.The market’s …

EUR/USD pair declined to near 1.0520 on Tuesday as investors braced for key economic events, including the US inflation report and the ECB monetary policy meeting.ECB Expected to Cut RatesThe ECB is widely anticipated to reduce its Deposit Facility Rate by 25 basis points to 3% on Thursday. This would …