Gold rose near $2,900 per ounce on Tuesday, driven by a weaker U.S. dollar and safe-haven flows due to mounting concerns about the U.S. economic outlook amid escalating trade tensions. Concerns about the potential economic slowdown were exacerbated after President Donald Trump, in a Fox News interview on Sunday, said the U.S. economy faced a "period of transition", while refusing to rule out the possibility that his policies would cause a recession. This comes after the U.S. delayed the 25% tariffs on many goods from Canada and Mexico for a month, while Canada has kept its initial...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's modest gains and attracts fresh sellers during the Asian session on Tuesday. The index currently trades around the 103.70 area, down over 0.20% for the day, and remains close to its lowest level since early November touched last Friday. Investors remain worried about US President Donald Trump's trade tariffs and their potential impact on the US economy. Apart from this, Friday's weaker US Nonfarm Payrolls (NFP) report pointed to signs of a cooling labor...
The USD/CHF pair attracts some sellers to near 0.8800 during the early European session on Tuesday. Probable US economic slowdown and continued policy uncertainty surrounding the Trump administration's trade policy exert some selling pressure on the US Dollar (USD). Investors will closely monitor the US Consumer Price Index (CPI) inflation report, which is due on Wednesday. Fears about a tariff-driven slowdown in US growth have rattled US stocks and the USD. "The market is unsure whether fading U.S. exceptionalism will continue to hurt the dollar or whether the dollar benefits from its...