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Gold climbs to seven-week highs on Fed rate cut bets, safe-haven demand
Gold price (XAU/USD) rises to seven-week highs to near $4,350 during the early European trading hours on Monday. The precious metal extends its upside amid the prospect of interest rate cuts by the US Federal Reserve (Fed) next year.
USD/CHF flat lines near 0.7950 as traders await US employment reports
USD/CHF holds steady near 0.7960 during the early European session on Monday. However, the potential upside for the pair might be limited as markets turn cautious ahead of key economic data releases later this week. The US employment reports for October and November are due on Tuesday.
AUD/JPY Price Forecast: Bullish outlook remains intact near 103.00 despite weak China data
The AUD/JPY cross tumbles to near 103.15 during the early European session on Monday. The Australian Dollar (AUD) weakens against the Japanese Yen (JPY) as China’s economic slowdown deepened in November, with Retail Sales and industrial output growth falling short of expectations.
West Texas Intermediate (WTI) US Crude Oil prices attract some buying during the Asian session on Monday and for now, seem to have snapped a two-day losing streak.
Pound Sterling Price News and Forecast: GBP/USD struggles to lure buyers amid a modest US Dollar uptick
The GBP/USD pair remains on the defensive during the Asian session on Monday, though it lacks bearish conviction and holds above the 200-day Simple Moving Average (SMA) pivotal support. Spot prices currently trade around the 1.3360 region, nearly unchanged for the day.
Silver Price Forecast: XAG/USD bounces off 100-hour SMA; sticks to gains near $62.50
Silver (XAG/USD) attracts fresh buyers at the start of a new week and reverses a part of Friday's retracement slide from the all-time peak, around the $64.65 region.
AUD/USD trades lower around 0.6650 amid unexpectedly weak China data
The AUD/USD pair trades 0.10% lower to near 0.6645 during the Asian trading session on Monday. The Aussie pair is under pressure as the National Bureau of Statistics of China has reported unexpectedly weak Chinese Retail Sales and Industrial Production data for November.
NZD/USD declines below 0.5800 on weak Chinese data
The NZD/USD pair loses ground to around 0.5780 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) weakens against the US Dollar following the downbeat Chinese economic data.
RBNZ’s Breman: Economic outlook has evolved broadly similar to MPC’s expectations
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Monday that the economic outlook has evolved broadly in line with the Monetary Policy Committee’s expectations, with signs continuing to emerge that growth is recovering.
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