Daily Market Report
➢ Gold (XAU/USD) trades with modest gains above $5,050 during the European session.
➢ A weaker US Dollar, driven by expectations of further Fed rate cuts, supports gold prices.
➢ Money markets are pricing in 58 basis points of Fed rate cuts in 2026.
➢ US Retail Sales were flat in December, missing expectations of a 0.4% increase.
➢ Signs of weakness in the US labor market have led economists to downgrade in Q4 growth forecasts.
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