Author: FX

BERLIN (Reuters) -U.S. billionaire Elon Musk is trying to exert influence over the German election taking place in February, a government spokesperson said on Monday. “It is indeed the case that Elon Musk is trying to influence the federal election,” with X posts and an opinion piece he wrote backing the right-wing Alternative for Germany (AfD) over the weekend, she said. Musk was free to express his opinion, the spokesperson added. “After all, freedom of opinion also covers the greatest nonsense.” The support of the AfD from Musk, who is set to serve U.S. President-elect Donald Trump’s administration as an…

Well, you definitely won’t hear central bankers admitting or acknowledging it. However, you’ll most certainly hear plenty of whispers or even loud conversations in the background on this.The UK looks to be leading the stagflation charge but there are other major economies also staring down the same path. Germany and Australia are among the ones that stand out but if Trump’s policies do reignite price pressures in the US, there’s going to be plenty of the same scrutiny there as well.It’ll be interesting to see how central banks sidestep this particular word and how they try to pivot the conversation…

AUD/USD appreciates due to thin trading volumes ahead of the New Year holiday. The US Dollar remains subdued as the 10-year bond yield depreciates to 4.59%. The Australian Dollar gained support as the 10-year government bond yield rose to 4.50%, near its monthly highest. The AUD/USD pair halts its five-day losing streak, trading around 0.6200 during the European hours on Monday. The pair appreciates as the US Dollar (USD) remains softer amid thin trading ahead of New Year’s holiday, while US Treasury bond yields depreciate. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against…

CGinspiration/E+ via Getty Images Spain’s preliminary inflation rate in Spain increased to 2.80% in December from 2.40% in November of 2024. Preliminary reading for Consumer Price Index increased 0.40% in December over the previous month. Core consumer expected to increase 2.60% in December over the same month in the previous year. ETFs: (EWP), (EUFN) Source link

Gold prices rose in Saudi Arabia on Monday, according to data compiled by FXStreet. The price for Gold stood at 316.59 Saudi Riyals (SAR) per gram, up compared with the SAR 315.78 it cost on Friday. The price for Gold increased to SAR 3,692.62 per tola from SAR 3,683.21 per tola on friday. Unit measure Gold Price in SAR 1 Gram 316.59 10 Grams 3,165.88 Tola 3,692.62 Troy Ounce 9,847.00 FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at…

Adam had the news earlier:Former US President Jimmy Carter diesUS President Biden has announced that Thursday 9 January 2025 will be the US National Day of Mourning for Carter:non-essential Federal workers are given the day off and stock and bond markets are closedLink to the full proclamation is above. This article was written by Eamonn Sheridan at www.forexlive.com. Source link

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2% and some think it could widen to 3% at some stage in the future. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US…

Trend Strength and Fractal Support and Resistance Forex Trading Strategy is a powerful approach designed to help traders navigate the complexities of the foreign exchange market. By integrating two crucial elements—trend strength indicators and fractal support and resistance levels—this strategy provides a comprehensive framework for identifying profitable trade opportunities. The combination of these tools helps traders not only understand the prevailing market trend but also pinpoint key price levels where potential reversals or breakouts are likely to occur, leading to more informed and confident trading decisions. Trend strength is a critical factor in determining whether a market is in a…

Gold price gains traction to near $2,625 in Monday’s early Asian session.  Trump’s administration could boost Gold price amid uncertainty.  The hawkish stance of the US Fed might cap the upside for the precious metal.  Gold price (XAU/USD) attracts some buyers to around $2,625 during the early Asian session on Monday. Donald Trump’s tariffs and trade policies could trigger trade conflicts, supporting the yellow metal. However, the outlook for fewer Federal Reserve (Fed) rate cuts in 2025 might cap the upside for Gold price. Trading volume is lighter than usual ahead of the New Year holiday. Donald Trump’s potential return to…

Dzmitry Dzemidovich/iStock via Getty Images REITs are expected to return 10% to 15% in 2025, helped by a favorable environment, a note by Citigroup said earlier this month. Comparatively, the firm had forecasted a return of 8% for the broader S&P 500. Seeking Alpha author Brad Thomas Source link