Fed rate cut bets send dollar to near five-week low

XAU/USD rises to near $4,230, remains broadly confined above 20-day EMA

Gold price (XAU/USD) gains 0.4% to near $4,230 during the European trading session on Friday. The yellow metal trades firmly, but is confided in a tight range between $4,164 and $4,265 for the last four trading days. The outlook of the precious metal remains bullish as the Federal Reserve (Fed) is widely anticipated to cut interest rates in its monetary policy announcement on Wednesday. Lower interest rates by the Fed bode well for non-yielding …

Another Fed cut coming up

The past week has seen the dollar fall back again, leaving the DXY index down around half a percent all told. Even so, that move belies the relative paucity of new information on offer, especially with November payrolls delayed until mid-month. Still, data that was available largely disappointed from a US perspective, seeing the buck give up ground to the entirety of the G10 complex. That left the aussie dollar topping the pack by the end of the…

Fed rate cut bets send dollar to near five-week low

The dollar index, measuring the currency against six peers, was down 0.1% at 98.981, heading back towards Thursday's five-week low of 98.765