US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
The AUD/USD pair trades on a flat note around 0.6185 during the early Asian session on Thursday. However, the expectation that the US Federal Reserve (Fed) will take a slow and cautious approach to further rate cuts this year might boost the US Dollar (USD) and acts as a headwind for AUD/USD. In the final monetary policy meeting on December 18, the Fed indicated that it would only reduce interest rates two times next year, down from four rate cuts in September's updated economic projections. The rising bets that the US central bank will hold interest rates higher than peers lift the...
The yen weakened against every Group-of-10 peer as investors weighed dimming chances of a Bank of Japan interest rate hike this month. USD/JPY rose as much as 0.3% to 157.78, advancing for a third straight session as traders consider another BOJ rate pause. Governor Kazuo Ueda avoided giving clear signals of a hike in January during last week's speech. US jobs and manufacturing data due later Thursday will give further pulse checks on the economy and provide more clarity on the dollar's trajectory. "With a BOJ rate hike unlikely until March, the risk of...
Gold price (XAU/USD) trades with mild gains to around $2,625 during the early Asian session on Thursday. The uncertainties around Donald Trump's tariff policies, geopolitical risks, and central bank buying support the yellow metal. Nonetheless, the cautious stance of the US Federal Reserve (Fed) might cap the Gold's upside. Traders awaited fresh catalysts that could influence the Fed's interest rate outlook this year. In December, Fed Chair Jerome Powell signaled a cautious stance on further rate cuts after delivering a 25 basis points (bps) reduction. This, in turn, could provide some...
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $28.96 per troy ounce, down 0.14% from the $29.00 it cost on Monday. Silver prices have increased by 21.71% since the beginning of the year. Source: FXstreet
Gold opened the New Year steady after notching its biggest annual gain since 2010, with traders assessing prospects for a slower pace of monetary easing by the Federal Reserve in 2025. Bullion was trading near $2,625 an ounce following its 27% gain in 2024, which was driven by the Fed's cutting cycle, sustained haven demand and a wave of purchases by central banks. Investors are now focused on the interest-rate path in the US, after Chair Jerome Powell last month signaled greater caution over how quickly the central bank can continue reducing borrowing costs amid renewed...