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Gold hit a 2-week high on lower Indian demand. It rose for 2 weeks as the dollar and yields fell, driven by rate-cut expectations.
Thin holiday trading weighed on the dollar. Attention shifts to US PCE data are unlikely to halt the ongoing bearish trend.
Thursday's oil price drop, driven by rising US crude inventory, outweighed Middle East tensions' supply disruption impact, raising demand concerns.
Boosted by rising oil prices and a weaker US dollar, the Canadian dollar stood strong on Wednesday, hitting a 4.5-month high in the prior session.
Iran-backed Houthi disruption fuels Tuesday's oil price surge, defying US warnings and impacting the Red Sea energy trade.
Asia stocks dip after a mixed US close amid a dollar and Treasury yield rally. Nasdaq 100 hits a new high, poised for the best year since 2009.
Friday saw European currencies rise, led by hawkish policymakers. The Swiss franc gained 5% against the euro this year, hitting a peak since Jan 2015.
Asian oil prices surged, continuing the momentum from the US crude storage decline and the dovish Fed, with gains extending into Thursday's early trade.
Investors believe the FOMC will maintain interest rates this month. They anticipate a 100 bps cut in 2024, raising doubts about its likelihood.
Gold struggled as US consumer prices rose in November. Market eyes are on central bank meetings for 2024 interest rate clues.
US inflation dipped to 3.2% in October, marking the first four-month decline, driven by a drop in fuel prices and slightly below the anticipated 3.3%.
Asian shares rose after new highs in US stocks on Tuesday. This week, central banks will scrutinize and test rate-cut expectations.
Monday's oil price rise, fueled by US strategic reserve replenishment, faces oversupply worries due to record-high US output.
The Japanese yen rose as the BOJ considered exiting ultra-low rates. The Fed and ECB expect rate cuts to boost bullish sentiment.
