EUR/USD weakens to near 1.0550 on ECB rate cut bets
The EUR/USD pair fell to levels near 1.0550 on Monday, as market participants bet on a potential interest rate cut by the European Central Bank (ECB) in the coming months. The euro’s decline marks a continuation of its recent downward trajectory, with analysts predicting further weakening if the ECB shifts its monetary policy stance. Markets […]
Gold price forecast: XAU/USD drifts higher to near $2,650 amid persistent global uncertainties
Gold prices climbed on persistent global uncertainties, with XAU/USD nearing $2,650 as investors sought safe-haven assets amid geopolitical tensions and economic concerns. The precious metal, often a barometer for market unease, continues to benefit from cautious sentiment among traders. Increased demand for gold is being driven by a mix of factors, including escalating geopolitical risks […]
China’s CPI inflation eases to 0.2% YoY in November vs. 0.5% expected
China’s consumer price index (CPI) rose by just 0.2% year-on-year in November, falling short of market expectations of a 0.5% increase. This marks a slowdown from the 0.6% growth recorded in October, reflecting tepid consumer demand as the economy continues to grapple with uneven recovery trends. The lower-than-expected inflation suggests that domestic consumption remains weak, […]
China’s Solar Industry Looks to OPEC for Guide to Survival
China’s solar industry is grappling with overcapacity and plummeting prices, prompting leading manufacturers to seek strategies reminiscent of the Organization of the Petroleum Exporting Countries (OPEC) to stabilize the market. In a recent move, major Chinese solar companies have agreed to coordinate production levels to address the supply-demand imbalance that has led to significant financial […]
South Korea to announce measure to improve FX liquidity before end of December
South Korea is set to unveil measures aimed at enhancing foreign exchange liquidity before December’s end. This move comes as global financial markets face heightened volatility, increasing the urgency for nations to safeguard their currency stability. The announcement signals the government’s proactive stance in addressing potential disruptions in the FX market. The decision reflects South […]
Asian Stocks Slip With Korea, Middle East in Focus: Markets Wrap
Asian markets opened the week on a cautious note, with South Korean stocks leading declines amid political uncertainty. The Korea Composite Stock Price Index (KOSPI) fell 1.7% as investors reacted to the recent martial law declaration by President Yoon Suk Yeol, which was swiftly rescinded by parliament. Reuters Despite the political turmoil, broader market sentiment […]
Ethereum steals the spotlight and 2020 analogue predicts Bitcoin’s next move [video]
Ethereum has gained significant attention in the cryptocurrency market, surpassing expectations as its decentralized finance ecosystem expands rapidly. The altcoin’s recent surge has shifted focus away from Bitcoin, sparking debates among investors about Ethereum’s long-term potential. While Ethereum makes strides, Bitcoin’s performance is also in the spotlight, as a 2020 market analogue suggests it may […]
AUD/USD holds positive ground near 0.6400 as traders await RBA rate decision
The AUD/USD pair remained stable near the 0.6400 mark as market participants focused on the upcoming Reserve Bank of Australia (RBA) rate decision. The Australian dollar maintained positive momentum following recent signs of resilience in the domestic economy, coupled with cautious sentiment in the lead-up to the central bank’s announcement. Traders are closely monitoring whether […]
South Korean President survives impeachment motion
South Korean President Yoon Suk Yeol successfully navigated a politically charged impeachment motion, reaffirming his leadership despite rising political discord. The motion, initiated by opposition lawmakers over controversial policy decisions, was ultimately rejected by the National Assembly, signaling a significant victory for Yoon’s administration. The impeachment effort underscores the growing polarization in South Korea’s political […]
Fed’s Bowman: Central bank should proceed cautiously with rate cuts
Federal Reserve Governor Michelle Bowman emphasized the need for the central bank to approach interest rate cuts cautiously, signaling a measured stance amid evolving economic conditions. Speaking on the matter, Bowman highlighted concerns about prematurely easing monetary policy, which could undermine efforts to achieve sustained price stability. Bowman’s comments reflect a broader debate within the […]