Gold's price (XAU/USD) is flirting with a near 0.50% gain this Tuesday in the European trading session, with the precious metal trading around $2,910 at the time of writing. US yields are catching up on events after the US President's Day holiday on Monday. Still, Gold is in favor of traders as a safe haven for tariffs and geopolitical uncertainty. Meanwhile, Federal Reserve Bank (Fed) President of Philadelphia Patrick Harker advocated on Monday night for the central bank to keep interest rates unchanged. He pointed out that recent inflation reports and gauges are not tracking economic...
EUR/USD declines to near 1.0450 in Tuesday's European session after failing to hold above the psychological resistance of 1.0500 in the last two trading days. The major currency pair slumps as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds after attracting bids near a two-month low and recovers to near 107.00 at the press time. The Greenback discovers buying interest as investors weigh in expectations that the Federal Reserve (Fed) will keep interest rates in the current range of 4.25%-4.50% for a longer period. On Monday, a slew of...
Oil extended gains on Tuesday after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, though prices were kept in check by the prospect of rising supply. Brent crude futures gained 44 cents, or 0.6%, to $75.66 per barrel by 1014 GMT. U.S. West Texas Intermediate crude futures were up 91 cents from Friday's close to $71.65 a barrel. There was no settlement for WTI on Monday because of the U.S. Presidents' Day holiday. "The overriding theme driving oil prices lately has been around supply expectations. With the weakness in prices over past weeks, news...