China has pledged to implement more proactive fiscal stimulus measures and adopt moderately looser monetary policies in 2025, as per official readout from a key policy meeting held by the Political Bureau of the Communist Party of China Central Committee.
The Canadian dollar and Australian dollar were in focus on Monday ahead of their central bank meetings this week, while the euro and other major currencies lost a bit more ground to a strong U.S. dollar.
Buying into the yellow metal was fueled largely by increased haven demand, after rebel forces took over Syria’s capital Damascus and ousted President Bashar al-Assad, who fled to Russia.
Caution over more distributions by defunct exchange Mt. Gox also weighed, after a wallet associated with the exchange moved over $2 billion worth of coins last week. Such a move usually heralds a distribution event, with Mt. Gox still holding billions of dollars worth of Bitcoin it plans to return to creditors.
Global shares held steady on Monday, as investors took geopolitical tumult in their stride, leaving oil and gold modestly higher, while the dollar edged up ahead of U.S. inflation data this week that could cement a December rate cut.
