Gold price edges lower in Wednesday’s Asian session. The escalating Middle East geopolitical tensions and firmer Fed rate-cut expectations might cap Gold’s downside. JOLTS Job Openings and Fed Beige Book are due later on Wednesday. The Gold price (XAU/USD) bounces off the multi-day lows but remains below the $2,500 barrier amid the renewed bid bias
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Mexican Peso holds strong as Mexican Congress takes office
Mexican Peso strengthens against US Dollar as core PCE inflation falls below expectations, boosting prospects for Fed rate cuts. Ongoing political uncertainties in Mexico dampen Peso’s demand. Banxico cuts GDP forecasts for 2024 and 2025, indicating slower growth and potential rate cuts. The Mexican Peso recovered some ground on Friday against the Greenback after the