Gold price rallies on weak US inflation despite hawkish Fed tilt

Gold's price spiked during the North American session on Friday after inflation data in the United States (US) increased investors' hopes of the Federal Reserve (Fed) cutting interest rates later this year.

New Zealand's Business NZ PSI drops to 43.0 in May vs. 47.1 prior

New Zealand’s Business NZ Performance of Services Index (PSI) dropped to 43.0 in May from the previous reading of 47.1, according to Business NZ on Monday.

ECB's Kazaks says must not allow inflation to remain above 2% into 2026

European Central Bank (ECB) Governing Council member Martins Kazaks said on Sunday that the bank must not allow inflation to remain above 2% into 2026, adding that he is concerned about delays beyond this.

Fed's Kashkari: It’s reasonable to predict Fed won’t cut rates until December

Minneapolis Federal Reserve President Neel Kashkari said on Sunday that it is a “reasonable prediction” that the Fed will wait until December to cut interest rates, adding that the central bank is in a very good position to get more data before making any decisions.

France's Macron: Economic programs by two extremist blocks are not realistic

France's President Emmanuel Macron on Friday dismissed extreme economic plans as unrealistic amid crucial economic challenges.

China’s May Retail Sales rose 3.7%, Industrial Production up 5.6%

China’s May Retail Sales, rose 3.7% YoY vs. 3.0% expected and April’s 2.3% while the country’s Industrial Production increased 5.6% YoY in the same period vs.

Gold price attracts some sellers on hawkish Fed-inspired USD strength

Gold price (XAU/USD) struggles to capitalize on Friday's positive move and attracts fresh sellers on the first day of a new week.

Australian Dollar faces some selling pressure amid firmer US Dollar, mixed China’s economic data

The Australian Dollar (AUD) extends downside for the third consecutive day on Monday on the back of the stronger US Dollar (USD) broadly.

Forex Today: US Dollar holds ground to start the new week

Here is what you need to know on Monday, June 17: The US Dollar (USD) stays resilient against its major rivals at the beginning of the week, with the US Dollar Index clinging to modest gains above 105.50 after closing the previous week in positive territory.

Switzerland’s economic growth in 2024 to come in well below average – SECO

In its March economic forecasts, Switzerland’s State Secretariat for Economic Affairs (SECO) said that the “Swiss government sees the economic growth in 2024 to come in well below average.” Additional takeaways Swiss government sees 2024 GDP (sport event adj) growth at +1.2% (previous forecast was +1.1%).