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Hello everyone, today XM Forex will bring you "[XM official website]: Investors are taking profits, and the focus is still on US data". Hope this helps you! The original content is as follows:
In early trading in Asia on December 3, spot gold was trading around US$4,215 per ounce. Gold prices fell back from a six-week high on Tuesday as investors took profits after recent strong gains; U.S. crude oil was trading around US$58.67 per barrel. Oil prices fell more than 1% on Tuesday as the market weighed between wavering hopes for peace between Russia and Ukraine and ongoing concerns about oversupply.
The U.S. dollar rebounded against the yen on Tuesday, recouping some of the previous session's losses; the euro remained stable after the release of euro zone inflation data.
The dollar rose 0.3% against the yen to 155.91. The exchange rate fell to a two-week low on Monday as hawkish www.xmasseuse.comments from Bank of Japan Governor Kazuo Ueda sparked strong market expectations for a rate hike in December. Although the market's pricing of the probability of the Bank of Japan raising interest rates in December remains at a high level of about 80%, the trend of the US dollar has returned to rationality. Analysts believe that the yen's surge on Monday was more driven by the overall weakening of the U.S. dollar, while the market subsequently refocused on the still-sound U.S. economic outlook, pushing the U.S. dollar to rebound.
Market expectations for a rate cut by the Federal Reserve remain solid. According to the CME Group's FedWatch tool, the market expects an 87% probability of the Fed cutting interest rates by 25 basis points at its December meeting. Pepperstone strategists pointed out that the dollar, as the "cleanest dirty shirt", still shows demand in the absence of other dominant factors.
The euro rose slightly against the US dollar by 0.04% to US$1.1615. Data supporting its trend showed that the Eurozone inflation rate edged up to 2.2% in November from 2.1% in October.European Central Bank policymakers subsequently stated that inflation had actually reached the 2% target. The small recovery is seen as manageable, with markets expecting the European Central Bank to keep interest rates steady.
The pound fell slightly against the dollar by 0.1% to $1.3202. This www.xmasseuse.comes after the Bank of England lowered bank capital requirements for the first time in a decade in an effort to stimulate credit and economic growth.
According to the latest data released by RatingDog on Wednesday, China's services purchasing managers' index (PMI) fell to 52.1 from 52.6 in October. Markets expected a reading of 52 during the reporting period.
Overall inflation in the Eurozone rose slightly in November, from 2.1% to 2.2% year-on-year, slightly higher than the expected 2.1%. Core CPI (excluding energy, food, alcohol and tobacco) was flat at 2.4%, in line with forecasts.
Looking at the details, the service industry is the main driver of inflation, which rose from 3.4% to 3.5%. Food, alcohol and tobacco inflation held steady at 2.5%. Non-energy industrial goods were unchanged at 0.6%, and energy inflation remained negative at -0.5%, but improved from -0.9%.
Labor market data showed a slightly softer picture. The euro zone unemployment rate rose to 6.4% in October from 6.3%, below expectations of 6.3%.
Trump: The United States will soon launch a land crackdown on drug cartels.
Trump will announce the candidate for the chairman of the Federal Reserve early next year, actively hinting that Hassett will be the next chairman of the Federal Reserve.
The above content is all about "[XM official website]: Investors are taking profits, and the focus is still on US data". It is carefully www.xmasseuse.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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