The Australian Dollar (AUD) halted its six-day losing streak on Monday, buoyed by a weaker US Dollar (USD) following the release of January's Personal Consumption Expenditures (PCE) inflation data on Friday. The report aligned with expectations, easing fears of unexpected inflation spikes in the US. Australia's TD-MI Inflation Gauge fell by 0.2% month-over-month in February, reversing a 0.1% rise in January. This marked the first decline since last August and followed the Reserve Bank of Australia's (RBA) decision to cut its cash rate by 25 basis points to 4.1% during its first monetary...
Gold rose to around $2,870 per ounce on Monday, as concerns over U.S. President Donald Trump tariff policies prompted safe-haven flows into bullion. Trump's proposed tariffs on Mexican and Canadian goods, set to take effect on March 4, alongside an additional 10% duty on Chinese goods, have fueled concerns over potential retaliatory measures and broader trade tensions. The inflationary impact of these actions also supports gold, which is often seen as a hedge against rising prices. Adding to its appeal, the U.S. dollar retreated from a two-week high, making the metal less expensive for...
The dollar index slipped to around 107.2 on Monday, ending a three-day winning streak, as the euro strengthened following renewed optimism about a potential resolution to the Ukraine conflict. Ukrainian President Volodymyr Zelenskyy announced on Sunday that European leaders had agreed to draft a peace plan to present to Washington, just days after he was unable to reach a deal with US President Donald Trump in the Oval Office. The dollar also lost some ground after US Commerce Secretary Howard Lutnick stated on Sunday that tariffs against Mexico and Canada remain "fluid," suggesting they...