12.12.202408:06 Forex Analysis & Reviews: Nasdaq Index Above 20,000! Tesla Fortunes, Healthcare Struggles

Relevance up to 01:00 2024-12-13 UTC--5

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Yuan Gains Ground

The offshore yuan gained 0.2%, trading at 7.2670 per dollar. This reflects growing investor confidence in the Chinese currency despite broader discussions around China's monetary policy.

Gold Soars to Monthly Peak

Gold reached a more-than-one-month high amid promises of lower bond yields as the Federal Reserve and other central banks move toward easing policies. The precious metal hit $2,725.79, its highest level since November 6, before settling back to $2,710.45.

Oil Prices Hover Near Multi-Week Highs

Oil prices steadied near their two-week highs, driven by concerns over potential new sanctions that could limit Russian oil production. U.S. West Texas Intermediate (WTI) crude futures slipped by 9 cents to $70.20 per barrel, after hitting $70.53 on Wednesday, their highest since November 25. Brent crude futures fell by 3 cents to $73.49 per barrel.

Uncertainty Ahead

Investors remain focused on the actions of major central banks, currency movements, and developments in commodity markets. Particular attention is directed at potential sanctions that may impact global oil supply and Federal Reserve policies shaping key asset trajectories.

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