Gold price remains firm on Wednesday amid speculation that the President of the United States (US), Donald Trump, could roll back some tariffs, at least duties on automobiles linked to the USMCA free trade agreement. Nevertheless, uncertainty remains, and XAU/USD trades at $2,919, virtually unchanged. Bullion prices had been seesawing around the $2,910 mark during the North American session as the news flow continued. The Federal Reserve (Fed) revealed the Beige Book in anticipation of the upcoming monetary policy, stating that overall economic activity rose, yet prices are higher amid...
Oil prices settled down for the fourth consecutive session on Wednesday after U.S. crude oil stockpiles posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.S. tariffs on Canada, China and Mexico. Brent futures settled down $1.74, or 2.45% to $69.30 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $1.95, or 2.86%, to $66.31 a barrel. Prices pared some losses after hitting multi-year lows earlier in the session - Brent sank to $68.33, its lowest since December 2021, and U.S. crude futures...
The Australian Dollar (AUD) strengthened on Wednesday, with the AUD/USD pair gaining traction after the United States (US) reported mixed ISM Services PMI and softer ADP Employment Change figures. The US Dollar (USD) remains under pressure amid concerns over slowing economic momentum, keeping the Aussie buoyed.Post-ISM, ADP data shape currency flows amid tariff warningsRenewed US tariffs on Chinese imports add more strain to global risk sentiment. The 10% levy from President Donald Trump compounds earlier duties and the potential for Chinese retaliation remains high, particularly concerning...