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Gold prices bounced from its one-month low on Thu though strong economic data strengthened the US dollar and Treasury yields put a lid on the rally.
US stocks fell as markets, overly optimistic about rate cuts, faced warnings. Treasury yields rose to the highest since mid-December.
The yen dipped below 146 against the dollar on Tuesday, suggesting easing inflation may relieve pressure on the BOJ to end monetary stimulus.
The Canadian dollar dipped vs. the USD, oil retreated, and upcoming inflation data may influence the Bank of Canada's rate choice this week.
US stocks closed flat. Thursday as higher-than-expected inflation tempered early 2024 Fed rate cut hopes, but lower Treasury yields limited declines.
Gold at $2,030, anticipating US inflation data, supported by a weaker dollar. It marked its first weekly decline in four weeks.
Japan stocks soared, with Nikkei 225 hitting a 33-year high, outshining global peers impacted by diminishing rate-cut expectations.
On Tuesday, the pound stayed near its three-week high against the euro, touched the previous week amid expectations of an ECB rate cut before the BOE.
US inflation rose 3.1% YoY in November, as expected. However, core inflation remains high at 4%, surpassing the 2% target.
A strong NFP report boosts USD against CAD. Investors compare the figures between the two countries, which influences the exchange rate.
Gold stabilized Friday after its first 5-day gain ahead of the US nonfarm payrolls report. The Iran explosion might offer additional support.
Oil prices surged Thursday, driven by supply concerns amid disruptions in Libya and heightened Israel-Gaza war tension, extending a strong rally.
Asian stocks fell as Wall Street closed lower on 2024's first trading day. The 10-year Treasury yield surpassed 4.000%, dampening rate-cut optimism.
November job creation remains robust, with nonfarm payrolls up by 199k, surpassing the 190k estimate and outperforming October's gain of 150k.
