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Oil prices fell after a 3% gain, reaching their December high amid an improved economic outlook and Red Sea tensions disrupting global trade.
Gold dipped as US business activity rose in January and inflation eased, prompting investors to reconsider expectations for a Fed rate cut.
The core PCE price index increased 3.2% YoY in November, below the expected 3.3%. Lowest since April 2021, signaling a slowdown.
The pound hits a 4-month high vs. the euro, indicating a resilient UK economy. The BOE may delay rate cuts compared to other central banks.
Japanese shares hit a 34-year high as the yen stabilized on Tuesday. The BOJ is anticipated to adjust its ultra-loose policy in H1 2024.
Gold prices bounced from its one-month low on Thu though strong economic data strengthened the US dollar and Treasury yields put a lid on the rally.
US stocks fell as markets, overly optimistic about rate cuts, faced warnings. Treasury yields rose to the highest since mid-December.
The yen dipped below 146 against the dollar on Tuesday, suggesting easing inflation may relieve pressure on the BOJ to end monetary stimulus.
The Canadian dollar dipped vs. the USD, oil retreated, and upcoming inflation data may influence the Bank of Canada's rate choice this week.
US stocks closed flat. Thursday as higher-than-expected inflation tempered early 2024 Fed rate cut hopes, but lower Treasury yields limited declines.
Gold at $2,030, anticipating US inflation data, supported by a weaker dollar. It marked its first weekly decline in four weeks.
Japan stocks soared, with Nikkei 225 hitting a 33-year high, outshining global peers impacted by diminishing rate-cut expectations.
On Tuesday, the pound stayed near its three-week high against the euro, touched the previous week amid expectations of an ECB rate cut before the BOE.
US inflation rose 3.1% YoY in November, as expected. However, core inflation remains high at 4%, surpassing the 2% target.
