Gold is pressing further into record high territory as escalating tensions between Israel and Iran continue to fuel the precious metal’s safe-haven bid
Forecasts
The euro recovers ahead of the ECB meeting which is likely to point to June for that first rate cut. Encouraging sentiment data and soft inflation provide conflicting dynamics
The British Pound heads into a new trading week under pressure against the United States Dollar as once-reliable monetary-policy support continues to ebb.
The Bank of England’s Monetary Policy Committee took a dovish turn at their latest policy meeting, sparking discussion that the UK central bank may bring forward its first interest rate cut
Gold prices have been reigned in after the massive push to another new all-time high. However, recent price action and a stronger dollar suggest more cooling to come
The holiday-shortened week ahead has little in the way of important data or events to move Sterling assets. Sterling remains under short-term pressure.
The FOMC will deliver updates on monetary policy and reveal the latest ‘dot plot’ which will confirm whether Fed officials maintain their prior stance of three cuts in 2024