The anticipation of key central bank rate decisions this week is casting a shadow over global markets, with Asian equities poised to slip. Investors are particularly focused on the Federal Reserve's expected quarter-point rate cut, which is anticipated to bolster US equities by providing fresh support. This sentiment contrasts with the weaker performance in Asian markets, driven by disappointing Chinese retail sales data that highlight ongoing economic challenges and a lack of detailed fiscal stimulus from Beijing.
In the commodities market, gold has managed to hold steady, maintaining slight gains from the previous session. The SPDR Gold Shares ETF (GLD), which aims to track the price of gold bullion, is currently trading at $244.87 as of 18:00 on December 16. This reflects a modest increase from its last close of $244.29, as investors weigh the potential impact of a weaker US dollar following the Fed's anticipated rate cut.