Gold enjoyed a rally toward the $2050/Oz mark before facing some selling pressure as Fed rate cut expectations continue to sway back and forth. PCE data later in the week could prove key to where Gold prices end the week....
A concerted effort by various Fed officials over the past few days to dampen market expectations of multiple rate cuts in 2024 is not having the desired effect at the moment....
BoJ holds out on rate change as unconvincing inflation and wage growth data fail to move the needle. Q1 wage negotiations will be key, as will inflation. JPY down, Nikkei up...
Australian Dollar is in a good place fundamentally to continue its recent gains against the Greenback. The technical picture however hints at a brief retracement before bullish continuation....
Speculation around a policy pivot from the BoJ has eased this last week but is likely to re-emerge in Q1 2024 as labour market data provides a clearer picture. USD/JPY edges up...
German companies are turning more pessimistic about the economy, according to the latest Ifo report, and this will add to calls for the ECB to loosen monetary policy sooner rather than later in 2024....