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FUNDAMENTAL VIEW It’s a quiet week on the economic calendar as the holiday spirit takes center stage, but gold remains in focus. What moves lie ahead for the precious metal? From a fundamental perspective, the FED’s recent 25bps rate cut, paired with a cautious stance on future rate changes, has influenced gold prices. Furthermore, softer U.S inflation data for...

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FUNDAMENTAL VIEW Later today, markets will focus on U.S. PMIs, with manufacturing PMI forecast at 49.4 and services PMI at 55.7. On Tuesday, at 5:30 PM GMT+4, key data releases include USD core retail sales and retail sales, expected at 0.4% and 0.6%, respectively. On Wednesday, December 18, the spotlight will be on the Fed funds rate decision, with markets...

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FUNDAMENTAL VIEW On Monday, December 16, 2024, Eurozone data showed mixed results. French manufacturing PMI fell short of expectations, recording 41.9 compared to a forecast of 43.2, while service PMI improved to 48.2, surpassing the 46.9 forecast. Similarly, Germany reported manufacturing PMI at 42.1 against an expected 43.1, while service PMI outperformed,...

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Markets Await Q1 US GDP Data: Insights and Implications Q1 GDP data is set for release on Thursday in the US, providing a crucial measure of the economy’s performance. Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific period. As a broad measure of overall...

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Bank of Japan is expected to Keep Interest Rates Steady The Bank of Japan is expected to keep interest rates steady this week and consider whether to offer clearer guidance on how it plans to reduce its huge balance sheet, in a slow but steady retreat from its massive monetary stimulus. At the end of its two-day meeting on Friday, the BOJ is expected to keep its...

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After the Bank of Canada and the European Central Bank reduced interest rates by 25 basis points, the markets are now awaiting the reaction of the US Federal Reserve. The Fed is set to announce its decision on interest rates today at 10:00 pm Dubai time. Currently, US interest rates are at their highest level in 23 years, at 5.5%. Recent job data, which showed an...