From Investing.com: 2024-06-20 04:37:00

Gold prices fluctuated slightly on Wednesday before closing 0.04% lower. The US Federal Reserve is monitoring inflation trends and may cut interest rates soon. The XAU/USD pair reached 2,340 before the US Jobless Claims report. A weaker report could mean less demand for gold, while a stronger report could indicate strong economic conditions.

The Euro remained stable on Wednesday due to the closure of US markets for a holiday. However, ongoing political uncertainty in France and expectations for Federal Reserve rate cuts are affecting the Euro’s outlook. EUR/USD declined ahead of the US Building Permits report, as traders await the impact on the pair’s price.

The USD/CAD remained above 1.37000 on Wednesday as traders analyzed the latest Bank of Canada meeting minutes. The BOC is cautious about rate cuts, but investors are still anticipating further easing. Limited movement is expected in CAD pairs until Canada’s May inflation report is released next week. USD/CAD rose slightly during trading sessions and traders are closely watching US data releases today, which could impact the pair’s movement.



Read more at Investing.com: Gold Rises Ahead of US Employment Data; Euro Stable Amid Political Uncertainty