International News
Gold edges higher around $4,075 in early Asia trade
Gold (XAU/USD) edges higher around $4,075 in early Monday Asia trade as rate-cut expectations rise. New York Fed’s John Williams suggested the Fed could ease rates soon without derailing inflation targets, pushing markets to price in a 74% chance of a December cut, up from 40% last week. Lower rates boost Gold’s appeal by reducing its opportunity cost.Meanwhile, other Fed voices remain cautious—Dallas’s Lorie Logan and Boston’s Susan Collins favor holding rates “for a time.”
Traders will take more cues from the mixed economic signals and the delayed release of key inflation data. The US PPI inflation and Retail sales data are due on Tuesday. The headline PPI is expected to show an increase of 0.3% MoM in September, while the Retail Sales are projected to show a rise of 0.4% MoM during the same report period. Any signs of hotter inflation could dampen hopes for Fed rate cuts. This, in turn, could lift the US Dollar (USD) and weigh on the USD-denominated commodity price.
Any signs of hotter inflation could dampen hopes for Fed rate cuts. This, in turn, could lift the US Dollar (USD) and weigh on the USD-denominated commodity price.
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and historical retail sales data. It excludes automobile, gasoline and restaurant sales
Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
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