Fundamental / Economic Backdrop (short term)
Gold continues to trade under a macroeconomic environment dominated by monetary-policy expectations, real-yield dynamics, and safe-haven demand.
Key macro drivers:
Federal Reserve policy expectations: Markets continue to price in a near-term easing cycle. Rate-cut expectations suppress rea…
Author: Fibbinarchie
XAGUSD – 04/12/2025
Fundamental / Economic Backdrop (short term)
Key Macro Drivers
Silver continues to benefit from expectations of interest‑rate cuts by the Federal Reserve (Fed), which is reducing real yields and lowering the opportunity cost of holding a non-yielding asset like silver. Capital.com+2MQL5+2
The metal’s appeal is enhanced by a struc…
USDCHF – 03/12/2025
Fundamental / Economic Backdrop (short term)
USD/CHF remains driven by the interaction between Federal Reserve policy expectations, global risk sentiment, and Swiss-franc safe-haven demand.
US Dollar (USD):
Markets remain sensitive to the timing and speed of Federal Reserve easing.
Softer US inflation traction and moderati…
EURUSD – 03/12/2025
Fundamental / Economic Backdrop (short term)
EUR/USD remains driven primarily by interest-rate expectations, growth differentials, and global risk sentiment.
Key macro drivers:
United States (USD):
The Federal Reserve is expected to be near or entering an easing cycle by late 2025.
Slowing US growth momentum, cooling infl…
USDJPY – 03/12/2025
Fundamental / Economic Backdrop (short term)
USDJPY continues to be driven by monetary-policy divergence dynamics, shifting yield differentials, and short-term risk sentiment.
Key Fundamental Drivers
Federal Reserve (USD Side)Markets remain highly sensitive to incoming US macro data and Fed communications. Expectations continue to oscill…
GBPUSD – 03/12/2025
Fundamental / Economic Backdrop (short term)
GBP/USD remains driven primarily by relative central-bank policy expectations, growth divergence, and risk sentiment.
Key macro drivers currently shaping the short-term outlook:
Bank of England (BoE) policy expectations remain leaning dovish, reflecting slowing UK growth momentum, easing infla…
EURJPY – 03/12/2025
Fundamental / Economic Backdrop (short term)
EUR/JPY remains primarily driven by monetary-policy divergence and risk sentiment, with both currencies reacting to different macro forces:
The Euro (EUR) is influenced by:
Expectations around ECB policy normalization vs. cautious easing, depending on inflation persistence and growth s…
CHFJPY – 03/12/2025
Fundamental / Economic Backdrop (short term)
CHF/JPY is driven almost entirely by relative safe-haven demand and yield expectations between Switzerland and Japan.
Key short-term drivers:
Japanese Yen (JPY):
Markets remain highly sensitive to Bank of Japan policy normalization expectations.
Any hawkish BoJ commentary or su…
GBPJPY – 03/12/2025
Fundamental / Economic Backdrop (short term)
GBP/JPY remains primarily driven by UK–Japan yield differentials, Bank of England (BoE) vs Bank of Japan (BoJ) policy expectations, and global risk sentiment.
Key fundamental drivers
Bank of England (BoE):UK inflation has moderated but remains structurally elevated compared with Japan. The B…
XAUUSD – 03/12/2025
Fundamental / Economic Backdrop (short term)
Gold remains driven by a combination of monetary policy expectations, USD dynamics, real yields, and global risk sentiment.
Key macro drivers:
Federal Reserve policy expectations: Markets continue to price in an easing cycle into early 2026. This keeps real yields capped, which is structurally…