Energies
Gold prices (XAU/USD) are struggling to maintain a modest rebound after touching a one-week low of around $2,643-$2,644 during Monday’s Asian session. This comes as markets anticipate the Federal Reserve (Fed) will take a more cautious approach to cutting interest rates next year, with inflation progress stalling near the 2% target.
Meanwhile, USD/CAD has edged slightly lower, trading near 1.4230 after hitting a multi-year high of 1.4245 on Friday. The US Dollar remains subdued due to lower Treasury yields ahead of the Fed’s final interest rate decision of 2024, with a 25 basis point rate cut becoming increasingly likely.
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