Oil prices rose on Tuesday following news of China’s continued manufacturing expansion in December. However, both Brent and WTI are poised to end lower for the second consecutive year due to demand concerns in key consuming nations. Brent Crude Futures: Increased by 0.8% to $74.56 per barrel. West Texas Intermediate …
Read More »Gold Prices Steady Amid Thin Year-End Trading, Set for Strong Yearly Gains
Gold prices remained largely unchanged during Asian trading hours on Tuesday, with Spot Gold steady at $2,607.65 per ounce and Gold Futures for February delivery edging 0.2% lower to $2,620.22 per ounce by 00:23 ET (05:23 GMT). Year-end trading typically sees thin volumes, with institutional investors wrapping up positions ahead …
Read More »Market Drivers, US Session – Holiday Grind: Markets Drift in Year-End Slumber
The final days of the year have descended upon global markets, ushering in a period of characteristically subdued activity. With major exchanges shuttered for several days during the holiday week, trading volumes have dwindled, and price movements have become muted. The US Dollar Index (DXY) has remained largely unchanged, hovering …
Read More »Loonie Lifts on Thin Holiday Trading, But Outlook Remains Dim
The Canadian Dollar staged a modest recovery against the US Dollar on Monday, gaining nearly half a percent. However, this move appears driven by thin trading conditions and a lack of significant market activity as the year draws to a close.With most global markets observing the holiday season, trading volumes …
Read More »EUR/USD Slumps Below 1.0400 as Holiday Trading Cools
The EUR/USD pair slipped below the 1.0400 level on Monday as subdued trading volumes characterized the final days of the year. With many markets closed for the New Year’s holiday, investor activity has significantly diminished, leading to muted price action across most asset classes.The upcoming holiday week will see further …
Read More »Sterling Weakens Against US Dollar as Year-End Trading Winds Down
The Pound Sterling (GBP) weakened against the US Dollar (USD) on Monday, as the US Dollar rebounded in thin trading conditions ahead of the New Year holiday. The GBP/USD pair fell below 1.2550 after failing to sustain an intraday high above 1.2600.The US Dollar Index (DXY) rose towards 108.30, poised …
Read More »XAU/USD Slides as US Dollar Rebounds, Fed Signals Fewer Rate Cuts
Gold prices declined sharply on Monday, falling towards $2,600, as the US Dollar strengthened. The US Dollar Index (DXY) rebounded above 108.00, making gold more expensive for holders of other currencies.While lower US Treasury yields typically weigh on gold, the relationship between the two assets was less pronounced on Monday. …
Read More »European Stock Markets Mixed as 2024 Nears Close
European stocks exhibited a mixed performance on Monday, reflecting the cautious sentiment on the final full trading day of the year. DAX (Germany): +0.1% CAC 40 (France): +0.1% FTSE 100 (UK): -0.2% Muted Trading ActivityWith many markets preparing for early closures on Tuesday for the New Year holiday, trading volumes …
Read More »US Dollar Retreats Slightly but Holds Near Highs as Year-End Approaches
The US dollar edged down on Monday, with the Dollar Index slipping 0.1% to 107.690 as of 09:55 GMT. Despite this minor dip, the dollar remains on track for a monthly gain of over 2%, bringing its year-to-date rise to nearly 7%. Key Drivers Behind the Dollar’s Performance: Rising Treasury …
Read More »Oil Prices Dip Amid Thin Holiday Trade, Eyes on U.S. and China Data
Oil prices edged lower on Monday in light holiday trading as markets awaited key economic data from China and the U.S., the world’s two largest oil consumers, to gauge future growth prospects. Price Movement Brent crude futures slipped 8 cents to $74.09 a barrel by 0700 GMT, while the more …
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