interest rate
The Bank indicated that the economy underperformed, reporting no growth from October to December
Gold prices have lost around 2 percent so far this week
Brent oil futures set to expire in February slipped 0.5 percent to $72.49 a barrel
Investor sentiment was impacted after the central bank signaled fewer rate cuts next year
Brent oil futures for February delivery decreased by 0.5 percent to $73.02 per barrel
Brent oil futures for February delivery held steady at $73.20 a barrel
Market focus is on the bank's economic projections and the dot plot which may offer additional insights into the monetary policy trajectory
Gold consolidated between $2,600 and $2,700 as traders bought dollars before key central bank meetings
Brent Oil Futures decreased by 0.2 percent, settling at $73.81 per barrel
Brent Oil Futures expiring in February fell 0.3 percent to $74.28 a barrel
Traders are pricing a 93.4 percent chance of a quarter-point cut during the Fed's December 17-18 meeting
The ECB unanimously decided to reduce the deposit rate by 25 basis points
In five days, the Federal Reserve will meet to decide on whether to cut interest rates this month
Traders currently expect a 98.6 percent chance that the Fed will cut rates by 25 basis points
Inflation data could help set market expectations for the Fed's 2025 policy
Headline inflation climbed to a record high of 38 percent in September 2023 after falling to 26.5 percent in October
Traders currently see an 89.5 percent chance of a Fed rate cut this month
The number of oil and gas rigs deployed in the U.S. last week hit the highest since mid-September
Strong central bank buying, monetary policy easing and geopolitical tensions have driven gold prices to multiple record highs this year
Markets currently see a 70.1 percent chance of a 25-basis-point cut by the Federal Reserve in 12 days
Fed Chair Jerome Powell said on Wednesday the U.S. economy is stronger than the central bank expected in September
Brent crude futures, set to expire in February, climbed by 0.1 percent to $72.37 a barrel
UAE's economy is set to grow from 3.7 percent in 2024 to 4.5 percent in 2025