Economic Report

At the time of writing, gold price is hovering around $1,920 on Friday, hit a new 9-month high as investors anticipate the US central bank to adopt a less aggressive stance following Thursday’s softer inflation data. Bets for a 25-bps rate hike by the Federal Reserve lie at a 94.2% …

The yen continued to rise, supported by speculation that Japan might adjust its ultra-loose monetary policy, while the dollar approached its lowest level since June against major currencies. The Bank of Japan differs from most central banks in the world by sticking to stimulus while other banks raise interest rates, …

Britain’s economy caught unexpectedly slight growth in November, after receiving a boost during the soccer World Cup from cafe and pub activity and video game sales, reducing the chances of it already falling into recession despite generally bleaker outlooks for 2023. Data from the Office for National Statistics on Friday …

China’s exports contracted sharply in December as global demand slowed, while imports also fell again as rising coronavirus infections and a sharply slumped real estate sector hit domestic demand, highlighting risks to the Asian giant’s economic recovery this year. Exports were one of the few bright spots in the world’s …

Fed’s Raphael Bostic said, early Friday, he would be comfortable moving at 25 basis points if conversations with business leaders are consistent with slowing inflation. He said that the signs of slowing wage increases “also positive”.Data showing inflation slowed in December “was really welcome news” that may allow the U.S. …

One lesson traders and investors are urged to learn is that the bond market is often almost correct; particularly two-year Treasury note. Its direction is of high consideration for those who are interested in knowing about the direction of the Federal Reserve’s actions.   US Treasury yields fell on Thursday …

The yen received support on Thursday from expectations that the Bank of Japan will review the implications of its easy monetary policy, while the dollar held near a seven-month low against the euro ahead of US inflation data on Thursday. The Japanese yen rose 0.8 percent, to record a session …

The EUR/USD pair rallied benefiting from the weaker US dollar and ECB hawkish commentary. The US central bank Chair Jerome Powell’s speech on Tuesday did not provide any guidance concerning the future of the US monetary policy ahead of the awaited Thursday’s US CPI report with estimates at 0% MoM …

On Wednesday, the metal rose 1.1% to $9,013.50 on the London Metal Exchange (LME), posting its fifth consecutive daily gain. At the time of writing, the key industrial metal is trading at $4.17 per pound for the first time since June, versus the previous closing price on Tuesday at $4.07. …

The US Dollar is starting to recover after dropping to seven-month lows and a rebound could follow a higher Consumer Price Index data. Gold price is trading at $1877.24 at the time of writing, higher by almost 0.3% versus the previous closing price at $1871.65 on Monday, after climbing from …