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The moon waxes and wanes, people have joys and sorrows, life changes, and the year has four seasons. If you survive the long night, you can see the dawn, if you endure the pain, you can have happiness, if you endure the cold winter, you no longer need to hibernate, and after the cold plums have fallen, you can look forward to the new year.
Hello everyone, today XM Forex will bring you "[XM Forex]: The three major central banks of the UK, Europe and Japan have made intensive appearances, and non-agricultural products are jq.xmxmxm.cning with CPI." Hope this helps you! The original content is as follows:
On December 15, spot gold was trading around US$4,304 per ounce in the Asian market on Monday. Shootings occurred in the United States and Australia over the weekend. As the Christmas holiday approaches, and Trump is looking forward to Santa Claus The Ukraine peace agreement was reached before Christmas, and the risk of geopolitical uncertainty increased, boosting gold prices; U.S. crude oil traded around $57.53 per barrel, and oil prices recorded a weekly decline of more than 4% last week. The market focus remains on concerns about global oversupply and the Ukraine peace agreement.
The U.S. dollar index rose 0.1% on Friday to 98.44 points, but still recorded a third consecutive weekly decline. Meanwhile, the pound fell on poor UK economic data.
Data showed that the UK's gross domestic product unexpectedly shrank by 0.1% from August to October, which reinforced market expectations that the Bank of England would cut interest rates, causing the pound to fall 0.2% against the US dollar to $1.3375.
The recent weakness of the US dollar is mainly due to the policy stance of the Federal Reserve. Although the Federal Reserve announced its third interest rate cut this year, its remarks were interpreted by the market as less hawkish than expected, increasing investors' expectations that interest rates will continue to be cut next year, thus putting pressure on the dollar.
In terms of other major currencies, the euro was basically flat at $1.1735 against the U.S. dollar, after hitting a more than two-month high last Thursday. The dollar rose 0.2% against the yen to 155.93 yen, with market attention turning to this week's Bank of Japan meeting, which is widely expected to raise interest rates.
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Monday that the economic outlook was generally in line with the Monetary Policy jq.xmxmxm.cnmittee’s expectations, with growthSigns of an uptick continue to emerge.
The latest data released by the National Bureau of Statistics (NBS) on Monday showed that China's retail sales increased by 1.3% year-on-year in November, higher than the expected 2.9% and October's 2.9%. During the same period, China's industrial production increased by 4.8% year-on-year, higher than the previous 5.0% and 4.9%. At the same time, fixed asset investment fell by 2.6% year-on-year, missing the expected -2.3%. October's reading was -1.7%.
UK GDP contracted 0.1% month-on-month in October, below expectations of 0.1% and marking the third consecutive month of stagnation or contraction. The economy has contracted -0.1% in September, after growth was flat in August, further deepening concerns that momentum is waning as we head towards the end of the year.
The monthly breakdown of major domestic industries was weak. Output in the service industry fell by 0.3% month-on-month, and construction industry fell by 0.6%, offsetting the 1.1% increase in production. The continued weakness is particularly worrying given that services dominate UK economic activity.
On a three-month basis, GDP as of October fell by 0.1% jq.xmxmxm.cnpared with the previous three months. The services sector did not grow, continuing a recent trend of slowing activity, while production output fell 0.5%, mainly due to weakness in automobile manufacturing. Construction also fell 0.3%.
Kansas City Fed President Jeffrey Schmid explained his dissent at last week's Federal Open Market jq.xmxmxm.cnmittee meeting, where he voted to keep interest rates on hold. He said in a statement that his assessment of the economy had not changed materially since October, citing "sustained momentum" in activity and inflation remaining above jq.xmxmxm.cnfortable levels.
Schmidt described inflation as "too high" and the labor market cooling but still "basically balanced." In this context, he prefers to maintain monetary policy in a "moderately restrictive" environment rather than easing prematurely.
In response to the debate on policy restrictions, Schmid downplayed the reliance on theoretical neutral interest rate estimates, saying that r* is an academic concept and has no real-world counterpart. Instead, he argued that policy should be judged by “the actual evolution of the economy.” Looking at incoming data and business links, he sees the economy "showing momentum and overheated inflation," suggesting policy is "not overly restrictive."
Chicago Fed President Austen Goolsbee explained his dissent at this week's Federal Open Market jq.xmxmxm.cnmittee meeting, voting to hold rates on hold rather than support a 25 basis point cut. He said policymakers should have waited for more data, especially on inflation, arguing that delaying the decision until the new year "would not pose much additional risk" and would allow the Fed to assess more jq.xmxmxm.cnplete economic data.
Goolsby said in a statement that feedback from businesses and consumers in his district has consistently cited price as a "major concern." At the same time, he described the overall economy as showing solid growth and the labor market "cooling only modestly." he willThe current environment has been described as "low hiring, low firing," suggesting that jq.xmxmxm.cnpanies are dealing with uncertainty rather than a traditional cyclical slowdown.
Goolsby acknowledged that recent inflationary pressures may be primarily related to tariffs and may ultimately be viewed as "temporary," but he cautioned against jumping to conclusions prematurely. He reiterated his optimism that interest rates could fall significantly over the next year but highlighted concerns about a sharp front-loaded rate cut.
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