Gold prices are still more than 110% above last year's lows, and in late-November we saw gold break out of another symmetrical triangle that made up a bull pennant formation. But for the past week, it's been largely range-bound as traders and investors gear up for the final Fed meeting of the year.
Gold slips as markets brace for Fed's decision, Powell's presser
Silver hit new record high ($61.59) on Wednesday, in extension of Tuesday's strong acceleration higher which resulted in a daily gain of 4.5% and break through psychological $60 barrier.
At the time of writing in late afternoon trading in London, the US dollar was broadly lower in anticipation of a third rate cut from the Fed. There was no major data release today and the Bank of Canada's rate decision came and went without stirring volatility.
The Pound to Canadian Dollar (GBP/CAD) exchange rate ticked higher on Wednesday, in the wake of the Bank of Canada's (BoC) latest interest rate decision. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.84518 (+0.17%)Euro to Canadian Dollar (EUR/CAD): 1.61185 (+0.11%)Dollar to Canadian Dollar (USD/CAD): 1.38373.
The British Pound is threatening to snap a two-week rally with GBP/USD trading just below downtrend resistance ahead of today's highly anticipated Fed rate decision. The setup leaves the pair vulnerable to a near-term inflection, with the broader June downtrend remaining intact while below resistance.
Silver tested historic highs, while platinum found itself under strong pressure.
The American currency is moving lower ahead of the key event of the week.
The Pound to Dollar exchange rate (GBP/USD) opened the week on a firmer footing, but analysts at Goldman Sachs remain cautious, arguing that with the Autumn Budget no longer dominating the agenda, the market is likely to return its focus to the underlying domestic pressures that continue to cap Sterling's upside. Latest — Exchange.
Last week's scenario? Played out perfectly.
GBP/USD firms as dovish repricing for Fed and BoE boosts upside momentum
USD/CAD strengthens after BoC keeps policy steady; Fed in the spotlight
Pound Sterling Price News and Forecast: GBP/USD holds tight range with mild bearish bias
Major currency pairs remain rangebound as traders await the FOMC decision and press conference. The euro, pound, and EUR/GBP all sit near key moving averages and important levels, with the next impulsive move likely defining short-term direction.
Silver has rallied sharply into record territory near the 62 mark ahead of the FOMC meeting and year-end momentum. This divergence raises questions about the sustainability of broader market trends that remain below their 2025 record highs.
EUR/GBP declines as central bank divergence keeps the cross range bound
The USD/JPY has been on the upside in the last five sessions, but there's more to favor the yen in addition to Fed and BoJ rate decisions.
Gold continues to consolidate ahead of the FOMC decision, with traders focused on the forthcoming statement and press conference. Key levels remain in play, and dips are still favored as buying opportunities while the broader bullish trend stays intact.
Silver remains bullish after breaking above $60, though traders are cautious ahead of the FOMC meeting. Short-term pullbacks may offer buying opportunities, while major levels at $57.50 and $62.50 could determine the next directional move.
USD/CHF extends losses with traders awaiting Fed cut and Powell guidance
In the FX market, a “K-shaped” performance has emerged with the AUD rallying and outperforming among the major currencies against the US dollar due to the hawkish monetary policy guidance from the Australian central bank, RBA. In today's Asia session, AUD extended its gains by 0.1% after a 0.3% return seen on Tuesday, 9 December, towards a three-month high at 0.6650 (see Fig.
The USD/CAD forecast is subject to heightened volatility today as both North American central banks will decide on their respective monetary policies. Following the release of some stronger US data in recent days, the US dollar has rebounded against most major currencies, most notably the yen, although it has struggled against the ComDolls owing to an overall positive risk appetite.
Gold price holds $4192.36 as traders await the Fed decision and Powell's guidance, with a potential gold breakout or slide depending on the 2026 rate outlook.
AUD/USD rally stalls below 0.6650 with all eyes on the Fed's decision
• The dilemma between inflation risks and soft labor market risks fuels caution across major charts ahead of the FOMC meeting • The 25 bps rate cut seems fully priced in, keeping the DXY above 98.80 and GBPUSD below 1.34 • With the Fed and BoE facing similar challenges between inflation and employment uncertainty, key levels are set to define the primary trends heading into 2026
Gold trades cautiously as markets brace for Fed interest rate call
EUR/USD is holding steady above 1.1650 amid broad U.S. dollar weakness ahead of the Federal Reserve interest rate decision later today and following hawkish rhetoric from ECB officials.
USD/JPY holds onto gains near 157.00 ahead of Fed's monetary policy
GBP/JPY Price Forecast: Pound remains firm, with 208.20 holding bears
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from 1.1550. The Euro cleared a few key hurdles near 1.1600 to move into a positive zone against the US Dollar.
USD/CAD holds above 1.3800 ahead of Fed decision – BBH
USD/CNH: Likely to trade with a downward bias – UOB Group
USD/JPY: Any advance may not reach 157.20 – UOB Group
EUR/USD pressured by rising US rates, eyes 1.1585/90 support – ING
USD/CAD Price Forecast: Wobbles around 1.3850 ahead of BoC-Fed policy outcome
Silver price today: Silver rises, according to FXStreet data
EUR/JPY tests long-term highs at 182.60 amid generalised Yen weakness
The USD/JPY pair is consolidating near 156.57 on Wednesday, pausing after three consecutive days of gains. This stability comes despite a notable shift in rhetoric from Bank of Japan (BoJ) Governor Kazuo Ueda, who stated the central bank is drawing closer to sustainably achieving its 2% inflation target – a strong signal that a policy tightening move could be imminent.
USD/CAD rejection at 1.4150 sparks sharp technical pullback – Société Générale
NZD/USD: Likely to consolidate between 0.5760 and 0.5790 – UOB Group
Silver breaks above $60, surging to a fresh record high – ING
AUD/USD: Likely to test 0.6660 before a pullback is likely – UOB Group
EUR/USD steadies with Fed's monetary policy front and centre
NZD/USD holds above 0.5760 as the US Dollar eases ahead of the Fed
GBP/USD: Likely to test 1.3265 before a recovery can be expected – UOB Group
EUR/USD: Advance in EUR from late last month has ended – UOB Group
USDJPY now has the chance to sustian this advance wave as long as the market holds the supports. As we see over the chart, the market is facing supports at 156.40 and 155.50-60, where each one could push for an advance towards 158.80.
The market met the target and resistance of 1.3360-70 and managed to print a few pips above it. As we see over the Intraday chart, prices face the chance for some a correction towards 1.3250-60 or 1.3180-1.3210 where each one of those supports could lead to an advance wave.
Prices advanced above the downtrend line as we see from the previous chart which could push for further advance. The market is facing Intraday support around 1.1590, where as long as prices hold above it, the advance could continue toward 1.1820.
The Euro to Dollar (EUR/USD) exchange rate found support below 1.15 in November and is trading around 1.1650. Rabobank considers that market pessimism surrounding the dollar for the year ahead is overdone.
EUR/GBP posts modest losses below 0.8750 despite ECB's cautious outlook
The Aussie Dollar started a strong increase above 0.6550 against the US Dollar. AUD/USD even cleared the 0.6600 barrier to enter a positive zone.
Pound Sterling Price News and Forecast: GBP/USD gains ground to near 1.3305 early European session
The US Dollar firms after JOLTS beats forecasts, with wage data now in focus. GBP/USD holds channel support while EUR/USD defends 1.1605 in a cautious market.
USD/CHF flattens around 0.8050 as investors await Fed's policy outcome
GBP/USD holds positive ground above 1.3300, eyes on Fed rate decision
Gold holds above $4,200 as traders await the Fed's rate cut, while silver pushes toward $61.83 on strong industrial demand and tightening global supply.
AUD/JPY Price Forecast: Softens to near 104.00 as overbought RSI caps upside potential
AUD/USD consolidates below mid-0.6600s; bulls await Fed decision amid RBA's hawkish tilt
USD/INR drops further amid caution ahead of Fed's monetary policy
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
EUR/USD holds steady below 1.1650, all eyes on Fed rate decision
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold holds steady above $4,200 as traders keenly await FOMC rate decision
Futures tied to the world's benchmark interest rate sit at a pivotal level, reflecting a market clouded by extraordinary uncertainty. This isn't just about the Fed's next move—it's about whether Treasuries and the U.S. dollar can still be relied upon as safe havens in a world where politics, litigation, and fiscal risk are colliding.
Gold consolidates near key support as silver surges to record highs, with a falling gold-to-silver ratio and persistent geopolitical risks signaling bullish momentum.
USD/CAD ticks up to near 1.3850 in countdown to BoC-Fed monetary policy
Silver Price Forecast: XAG/USD refreshes record high, looks to build on move beyond $61.00
PBOC sets USD/CNY reference rate at 7.0753 vs. 7.0773 previous
Japanese producer prices lift BoJ hike expectations and pressure USD/JPY, with the Fed's rate cut outlook and dot plot now driving the pair's short-term direction.
NZD/USD flat lines below 0.5800, close to one-month top ahead of China inflation data
Gold Price Forecast: XAU/USD declines to near $4,200 as traders await hawkish cut from Fed
GBP/USD extends mean reversion as investors brace for Fed
When are the China's CPI, PPI and how could they affect AUD/USD?
USD/JPY rises to two-week highs near 157.00 on robust US jobs data, Fed rate decision in focus
EUR/USD steady as markets gear up for Fed decision, Powell´s guidance
Gold consolidated quietly Tuesday above the seven-day $4,164 support zone and the intersection of two major trendlines, holding the 10-day average at $4,199 and setting up for a volatility expansion directly into Wednesday's Federal Reserve decision and outlook.
The Pound US Dollar (GBP/USD) exchange rate wavered without a clear direction on Tuesday as markets braced for the Federal Reserve interest rate decision on Wednesday. Latest — Exchange Rates:Pound to Dollar (GBP/USD): 1.32989 (-0.21%)Euro to Dollar (EUR/USD): 1.16261 (-0.13%)Dollar to Japanese Yen (USD/JPY): 156.908 (+0.68%) DAILY.
CAD crosses enter a pivotal 48-hour window with the RBA, BoC and FOMC all converging on potentially hawkish holds. Volatility is already elevated in USD/CAD, and both EUR/CAD and AUD/CAD are probing key technical levels that could define the next major swing.
Silver Price Analysis: Hits record high but RSI divergence hints at caution
The role of the Federal Reserve has adapted quite a bit in the past 30 years and it seems that we're at the forefront of even more adaptation as President Trump looks to mold the bank more to his liking, saying earlier today that rate cuts will be a key ‘litmus test' for choosing the next Fed chair. While Trump hasn't made a formal announcement, it's highly expected to be current Director of the National Economic Council Kevin Hassett, who has history as an uber-dove.
USD/JPY is on pace for a third-consecutive daily advance, with bulls now eyeing major resistance as traders brace for Wednesday's highly anticipated Federal Reserve interest rate decision. The December opening-range breakout keeps the near-term focus pointed higher, while converging technical levels around the yearly open highlight a critical barrier for the broader uptrend.
Silver's strength here is truly exceptional.
Gold shrugs off solid US jobs print, surges above $4,200 on Fed easing hopes
Silver breaks above $60 for the first time; technicals point to further upside
The Euro to Dollar (EUR/USD exchange rate has secured a net gains this in early December, but has not been able to break above the 1.1700 level. Bank of America (BoA) maintains a bearish stance on the dollar and expects that EUR/USD will secure further gains in 2026, although it has lowered its end-2026 forecast to 1.22 from 1.25.
Pound Sterling Price News: GBP/USD pulls back as US Dollar firms on jobs data ahead of Fed meeting
Over the past five trading sessions, USD/CAD has maintained a notable bearish bias in favor of the Canadian dollar, accumulating a decline of more than 1% in the short term as the market approaches the upcoming policy decisions from the central banks of the United States and Canada. For now, the expectation of lower rates in the United States and a neutral stance in Canada continues to support the strength of the Canadian dollar, which could keep consistent selling pressure on USD/CAD during the next trading sessions.
The major European stock indices closed the session mixed, with performance varying across the region. Germany's DEU40 led to the upside, gaining 0.49% at 24,162.66, while France's CAC40 lagged, falling 0.69% to 8,052.52.
EUR/USD stable as investors eye Fed rate cut and Powell's remarks
Canadian Dollar is one of the month's top performers as markets grow increasingly confident that the BoC has concluded its easing cycle and entered a prolonged pause. Expectations for a steady hold tomorrow are well-priced, and confirmation from Governor Tiff Macklem could open additional upside for Loonie, particularly in crosses.
Silver markets test historic highs as rally continues.
The Japanese Yen rout shows no signs of abating, pushing the USD/JPY pair to yet another set of monthly highs despite tomorrow's highly anticipated rate cut from the Federal Reserve, combined with expectations of another hike in Japan.
Metals have completed yet another round of high-pace rally to new highs since the US government reopened and NY Fed's Williams delivered his extra-dovish comments.
The better-than-expected JOLTs Job Openings report provided support to the American currency.
USD/JPY extends advance as firmer US labour data lifts the Dollar ahead of Fed decision