The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, extended its gains on Tuesday, consolidating above the psychological 108.00 level. Market sentiment soured after renewed concerns over tariffs and weak US economic data, including lower-than-expected Durable Goods Orders and declining Consumer Confidence. Despite these headwinds, the DXY managed to hold above its recent lows, signaling some resilience.Treasury Secretary Scott Bessent proposed incremental tariffs on all US imports, starting at 2.5%, triggering risk aversion in...
WTI crude rose more than 1% to $74 a barrel on Tuesday, boosted by supply risks in Libya despite concerns over potential U.S. trade tariffs. Protesters have demanded the closure of two key Libyan ports, Ras Lanuf and Es Sider, threatening significant disruptions to crude exports. The shutdown could affect hundreds of thousands of barrels starting Tuesday. Meanwhile, President Trump has expressed support for higher tariffs of 2.5% on foreign-made goods, including steel, aluminum and copper. This follows a 2% drop in crude prices on Monday due to weak Chinese manufacturing data and global...
The USD/CHF pair rebounded strongly, edging above the key hurdle of 0.9050 during the North American trading hours on Tuesday (1/28) after a two-week correction near 0.8965. The Swiss Franc pair strengthened as the US Dollar (USD) continued its upward journey amid a nervous market environment. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, surged near 108.00. Investors rushed to the US Dollar as global technology stocks slumped on the assumption that China's DeepSeek's low-cost Artificial Intelligence (AI) model will narrow the technology gap...
Gold prices (XAU/USD) are facing pressure for the second straight day, trading around $2,735 at the time of writing on Tuesday (1/28), following a more than 1% drop the previous day after Chinese AI startup DeepSeek rocked the market. The results were not small, with over $550 billion in market capitalization wiped out for Nvidia alone. Given the sensitivity of technology, cryptocurrencies such as Bitcoin also suffered, with Bitcoin (BTC) losing over 6.5% at one point among the victims of spillover in the financial market asset class. This has benefited US President Donald Trump, who has...
The pound (GBP) fell below 1.2450 against the US dollar (USD) in the European session on Tuesday (28/1) after failing to break above the psychological resistance of 1.2500. GBP/USD fell sharply as the US dollar's safe-haven appeal increased amid a gloomy market mood. The US dollar index (DXY), which tracks the greenback against a basket of six major currencies, surged near 108.00 after a sharp sell-off in power companies, data centers and chatbot companies worldwide has boosted its safe-haven appeal. Global tech stocks plunged amid concerns that China's DeepSeek Artificial Intelligence...
