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Editors’ Picks
EUR/USD holds steady above 1.0600 ahead of US data
EUR/USD managed to stage a modest rebound after dropping below 1.0600 earlier in the day. As investors refrain from making large bets ahead of the private sector employment data from the US, the pair’s trading action remains relatively subdued on Thursday.
Gold retreats below $1,850 as US yields rebound
Gold price has lost its traction and dropped below $1,850 during the European trading hours on Thursday. With the benchmark 10-year US Treasury bond yield rising nearly 1% on the day, XAU/USD stays under modest bearish pressure ahead of US data releases.
Monetary lags and the acute recession of 2023
Fed Powell remains unimpressed with the reduction of the rate of inflation; down to 7.1% in November, from 9.1% June. The Summary of Economic Projections shows a desire of the Fed to increase their forecast for the Fed Funds Rate to 5% in 2023.
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Rebecka Byron