EUR/USD halts its four-day winning streak, hovering around 1.0490 during Asian trading hours. Liquidity during the North American session may remain thin as all major US financial markets will be closed on Monday for the federal holiday, Presidents' Day. The EUR/USD pair gained ground recently due to delays in implementing US President Donald Trump's reciprocal tariffs, which are taking longer than analysts had anticipated. Additionally, disappointing US economic data has pressured the US Dollar (USD), providing further support for the EUR/USD pair. A weaker-than-expected US retail sales...
West Texas Intermediate (WTI) Oil price rebounds from losses in the previous session, trading around $70.60 per barrel during Monday's Asian hours. However, crude Oil prices faced headwinds as optimism surrounding a potential peace deal between Russia and Ukraine eased supply concerns. The possible removal of sanctions on Moscow could boost global energy supplies. According to BBC sources, Trump administration officials are scheduled to meet with their Russian counterparts in Saudi Arabia on Tuesday to discuss a potential peace agreement. This meeting marks a significant step in restoring...
The dollar index remained below 107 on Monday, hovering at its lowest level in over two months, as weak US economic data increased expectations of further Federal Reserve interest rate cuts. On Friday, data showed that US retail sales fell 0.9% in January, significantly worse than the anticipated 0.1% decline, with consumer spending likely impacted by severe weather and wildfires in California. While both CPI and PPI came in above forecasts, the PPI components feeding into the Fed's preferred inflation gauge, the PCE index, showed signs of cooling. The dollar also weakened as President...