FX.co ★ FTSE 100 Dips as Fed Concerns and UK Hiring Woes Weigh

On Monday, the FTSE 100 index in London experienced a slight decline of 0.1%, dipping to 10,110 and pulling back from its recent peak levels. This downturn was influenced by growing concerns regarding the Federal Reserve's autonomy, as well as the anticipation of significant upcoming US inflation and UK GDP reports. In a notable development, Federal Reserve Chair Jerome Powell disclosed that the Justice Department had delivered grand jury subpoenas to the central bank, raising the possibility of a criminal indictment and marking a heightening in the Trump administration's confrontations with the Fed.

In the commodities sector, gold miners enjoyed a continued positive trend following a new record high for gold. Among the standout performers were Fresnillo, which rose by 5.6%, and Endeavour, with a gain of 1.8%. On the economic landscape, a survey conducted by the Recruitment & Employment Confederation in collaboration with KPMG revealed that UK employers scaled back their hiring efforts in December. This was attributed to businesses grappling with increasing costs and diminished confidence in the wake of Labour's tax-increasing budget announced in November.