Energies
USD/CAD continues to decline for the third consecutive session, trading near 1.4360 as rising crude oil prices strengthen the Canadian Dollar. Softer US inflation data has revived expectations for 2024 policy easing, potentially boosting oil demand.
Gold (XAU/USD) holds steady at around $2,625. While the Fed’s hawkish stance pressures gold, a weaker US Dollar following softer inflation data helps cap the downside. The Fed’s December meeting indicated a slower pace of rate cuts ahead, lifting the US Dollar and increasing the opportunity cost of holding gold.
Bitcoin fell below $100K after hitting a high of $108,300 earlier this week. The decline came on Wednesday following the Federal Reserve’s hawkish outlook for 2025, reducing next year’s rate cut expectations from four to two. This shift led to heavy selling pressure across the crypto market, leaving investors questioning the sustainability of the current bull cycle.
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