Year: 2025

Gold (XAU/USD) consolidates with modest losses on Thursday as traders trim exposure ahead of the US inflation report. At the time of writing, XAU/USD is trading around $4,325, remaining confined to the familiar range that has dominated price action so far this week.

A cut takes the Bank Rate from 4.00% down to 3.75%, after the “wait and see” pause in November.

The consensus estimate was for a vote of 5-4 in favor of a rate cut, with Bailey switching to the rate-cut camp. Pricing was fully pointing to a cut as it was 100% priced in.

Yesterday’s CPI print was a major catalyst. Headline inflation fell sharply to 3.2% (down from 3.6%), coming in lower than both market forecasts and the Bank’s own projections. While services inflation remains “sticky” at 4.4%, the overall trend is moving in the right direction.

October GDP figures also showed a surprise contraction of -0.1%. The “V-shaped” recovery everyone hoped for after the Autumn Budget has yet to materialize, leaving the economy looking a bit anemic and unemployment has crept up to 5%.

Cable was trading at 1.3556 just ahead of the decision.

This article was written by Adam Button at investinglive.com.

Mexico Retail Sales (YoY) above expectations (3%) in October: Actual (3.4%)

The first Airbus A321XLR for a U.S. airline took off Thursday from John F. Kennedy International Airport in New York, bound for Los Angeles.

NZD/USD slipped to 0.5766 as markets digest New Zealand’s stronger-than-expected Q3 GDP growth of 1.1% q/q.

Eli Lilly also said it has filed for Food and Drug Administration approval of the daily GLP-1 pill, called orforglipron, for obesity.

The US Dollar (USD) steadied near yesterday’s highs as investors focus on today’s November CPI release. Fed Governor Waller’s dovish comments highlight that policy rates remain above neutral, keeping the door open for future easing despite sticky inflation around 3% y/y, BBH FX analysts report.

EUR/USD trades above 1.1700 as markets await today’s European Central Bank (ECB) meeting. The central bank is expected to keep rates at 2.00%, with President Lagarde’s remarks on future hikes likely to influence the euro’s near-term direction, BBH FX analysts report.

The United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for November on Thursday at 13:30 GMT.

Visa said it successfully completed hundreds of AI transactions as part of a pilot program it kicked off after a product event in April.