The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has fallen to 107.50 so far on Thursday. The knee-jerk reaction comes after stronger-than-expected US Consumer Price Index (CPI) data for January was released on Wednesday, which pushed the US Dollar higher. However, the turnaround came in the US trading session when United States (US) President Donald Trump and Russian President Vladimir Putin agreed over the phone to start peace talks with Ukraine. The economic calendar is focusing on US producer figures on Thursday....
Oil prices were mostly steady on Thursday, paring losses of more than 1% earlier in the session, as a potential peace deal between Russia and Ukraine continued to exert downward pressure, but expectations of a pause in new U.S. tariffs fueled optimism. Brent crude was down 17 cents, or 0.2%, at $75.01 a barrel by 11:15 a.m. CST (1715 GMT), while U.S. West Texas Intermediate (WTI) crude was down 1 cent, or 0.1%, at $71.38. U.S. President Donald Trump said in a social media post that he planned to announce reciprocal tariffs on Thursday, which could target any country that imposes duties on...
Gold prices rose on Thursday as U.S. President Donald Trump announced plans to impose reciprocal tariffs on countries that tax U.S. imports, raising concerns about global trade. Spot gold rose 0.4% to $2,915.76 an ounce, resuming its record high of $2,942.70 hit on Tuesday. U.S. gold futures settled 0.6% higher at $2,945.40. Trump announced a roadmap on Thursday to impose reciprocal tariffs on any country that imposes duties on U.S. imports. U.S. producer prices rose sharply in January, providing further evidence of rising inflation and reinforcing financial market expectations that the...