The "Fed statement" statement caused a wave of gold selling
Dollar steadies, eyes on US inflation data and Fed meeting
The US dollar steadied early Monday, with US inflation data and the Federal Reserve's final policy meeting of the year likely to set the tone for this week
Data released last Friday showed that US job growth accelerated in November and the unemployment rate fell to 3.7%, highlighting the resilience of the job market United States and poses a challenge to expectations that the Federal Reserve will begin cutting interest rates early next year.
The data caused traders to delay expectations for when the Federal Reserve will start cutting interest rates, with many now favoring May over March.
The US dollar steadied early Monday, with US inflation data and the Federal Reserve's final policy meeting of the year likely to set the tone for this week
Data released last Friday showed that US job growth accelerated in November and the unemployment rate fell to 3.7%, highlighting the resilience of the job market United States and poses a challenge to expectations that the Federal Reserve will begin cutting interest rates early next year.
The data caused traders to delay expectations for when the Federal Reserve will start cutting interest rates, with many now favoring May over March.
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