This week's price action has given us a glimpse of what's to come in the forex market in Trump's second term, with a brief dollar correction being taken as an opportunity to enter structural USD long positions at more attractive levels, notes ING forex analyst Francesco Pesole. "While our view is that the dollar will remain strong through next year, the near-term picture is still a bit more nuanced as long-term dollar positioning is starting to look quite stretched and a broader (albeit short-lived) dollar correction could be on the cards. One catalyst could be today's PPI print, which has...
Silver price (XAG/USD) extends its losses to two-month lows, trading around $29.90 per troy ounce during the European hours on Thursday. This downside of the safe-haven Silver is attributed to improving risk sentiment since Donald Trump's election victory last week. The US Dollar (USD), equities, and cryptocurrencies are advancing as markets anticipate strong growth and higher inflation under the incoming Trump administration. The proposed policies could drive increased investment, spending, and labor demand, raising inflation risks. The dollar-denominated Silver faces challenges due to...
Gold slipped for a fifth day as a surge in the dollar weighed on the metal, even as US inflation data supported the case for another Federal Reserve rate cut next month. Bullion dropped 1% in early London trading. A gauge of the dollar is at a two-year high on expectations that President-elect Donald Trump's win will boost economic growth and corporate profits. A stronger greenback makes commodities priced in the currency more expensive for most buyers. Wednesday's US consumer price data fell, in line with expectations on a headline basis, although the annualized three-month...