Fed's Bostic: sees 50 basis points in rate cuts in 2024
Atlanta Federal Reserve (Fed) President Raphael Bostic gave some talking points about the 2024 economic outlook while attending the Atlanta Rotary Club on Monday.
Source: fxstreet.com
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Gold price trades with mild positive bias, upside potential seems limited
Gold price (XAU/USD) dived to a one-and-half-week low on Wednesday in the wake of rising US Treasury bond yields and a stronger US Dollar.
Source: fxstreet.com
Gold price trades with modest gains as traders look to US macro data, FOMC minutes
Gold price (XAU/USD) retreated over $20 intraday and finally settled in the red for the third successive day on Tuesday, albeit lacking follow-through selling.
Source: fxstreet.com
RBA's internal documents show impact of high rates on households and businesses
Citing the Reserve Bank of Australia’s (RBA) internal documents showing how rising interest rates have impacted households and businesses, Bloomberg said “the private sector wage growth appeared to have stabilized at “around” 4.0%.” Additional takeaways “Domestic tourism demand slipped from high levels.” “Consumers have continued to trade down to cheaper products, or purchased fewer items, due to cost-of-living pressures.
Source: fxstreet.com
Gold price trades with modest intraday gains, sustained USD strength caps gains
Gold price (XAU/USD) attracts some buyers during the Asian session on Tuesday and for now, seems to have snapped a two-day-old losing streak.
Source: fxstreet.com