EUR/USD holds above 1.0550 on renewed US Dollar weakness
EUR/USD stabilizes above 1.0550 on Monday. A positive shift in risk sentiment curbs the safe-haven demand for the US Dollar, offering some comfort to the pair. Later in the week, US inflation data and ECB policy announcements could drive EUR/USD's action.
GBP/USD rises above 1.2750 as risk appetite returns
GBP/USD picks up fresh bids and clings to modest daily gains above 1.2750. Markets cheer improving risk sentiment as traders shrug off geopolitical risks and reposition ahead of the US inflation test, making it difficult for the US Dollar to gather strength.
Gold climbs above $2,650 on Chinese stimulus hopes
Gold gathers bullish momentum and trades above $2,650 on Monday. News of China planning to inject further stimulus into the economy boosts XAU/USD as investors gear up for this week's key data releases and central bank meetings.
Five Fundamentals for the week: Currencies set to rock on diverging central bank decisions Premium
The only way is down – but not in the land down under. Central banks in the Eurozone, Canada and Switzerland are on course to cut rates this week, ahead of a similar move in the US next week. Inflation data in the world's largest economy stands out as the main macro data release.
DEEPER DIVE
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the US.
Trading Gold? What smart traders should know about Trump's impact
Will Trump drive Gold prices up or down? Short-term: Gold dipped post-election as stocks soared and the USD strengthened. Long-term: Trump's tax cuts and tariffs could spark inflation, deficits and trade tensions—what's the impact?
CEE growth navigator
The economic growth in Hungary and Romania was the most surprising in Q3, with the former contracting and the latter expanding by 1.1% YoY, well below expectations. As a result, we have already revised our 2024 growth forecast downwards to 0.5% and 0.8%, respectively. Similarly, flash GDP in Slovakia was also disappointing at 1.2% YoY.
CRYPTOCURRENCIES
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP hints for a pullback ahead
Bitcoin price action shows a bearish momentum on the RSI indicator, suggesting a decline ahead. Ethereum price faces resistance around the $4,000 level, indicating a pullback ahead.
Ripple week in review: Can XRP resume rally to hit a new all-time high?
Ripple's XRP is up 7% on Friday as whales are holding onto their tokens despite high profit-taking among retail traders. This attitude from whales could push XRP to a new all-time high at $3.57.
SushiSwap DAO proposes strategy to improve liquidity through treasury diversification
The Sushi decentralized autonomous organization (DAO) issued a proposal on Friday that offers a shift from the protocol's initial treasury holding in SUSHI to accommodate other assets.
STOCKS
UnitedHealth stock sells off as executive shooter remains at large Premium
UnitedHealth Group (UNH) stock is trending lower on Thursday, a day after news shocked that nation when the CEO of its largest insurance unit was assassinated outside an investor event in Manhattan on Wednesday.
Up more than 500% in 2024, can SoundHound AI keep rising?
Few stocks have enjoyed the type of run that SoundHound AI (NASDAQ: SOUN) has this year. The AI stock, which specializes in AI voice technology, is up about 540% this year, and has more than doubled in just the past month.
WEEKLY FORECAST
EUR/USD: ECB decision and US CPI stand out ahead of Fed Premium
The EUR/USD pair posted a weekly high of 1.0629 on Friday but finished the week unchanged around the 1.0570 mark. The Greenback fell following the release of the US NFP report but quickly trimmed losses, pushing the pair back below the 1.0600 mark.
GBP/USD: Pound Sterling looks at US inflation amid data-light week Premium
The Pound Sterling hit three-week highs against the US Dollar above 1.2750. GBP/USD awaits US inflation data amid a relatively data-light week ahead. Bearish bias intact while the Pound Sterling holds below the key 200-day SMA.
US Dollar recovers after strong NFP report
The US Dollar Index, which measures the value of the USD against a basket of currencies, gained toward 106.00 on Friday, driven by several key movers. The US Dollar remained flat after the release of NFP data, while markets anticipated a potential December rate cut by the Fed.
Gold: Key data releases from China, US could help XAU/USD find direction Premium
Gold opened in a calm manner on Monday and spent the rest of the week fluctuating in a narrow channel at around $2,650. Trade Balance data from China and November inflation figures from the United States could help XAU/USD break out of its trading range next week.
Bitcoin: Long-awaited $100K milestone meets profit taking
Bitcoin ends the working week hovering around $98,000 after a very volatile Thursday when it surpassed the $100K milestone and underwent a sharp correction. Strong institutional demand, whale accumulation, and the choice of a pro-crypto figure to lead the US SEC fueled the rally this week.
Week ahead – The central bank bonanza begins, US CPI eyed too
The CPI report for November out on Wednesday will be the last major piece of the jigsaw for policymakers ahead of the meeting, so a strong market reaction is almost guaranteed. The ECB is expected to hit the headlines with its rate decision.
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