Oil prices pared earlier losses to inch up during trade on Tuesday, despite concerns over a potential U.S. recession, the impact of tariffs on global growth and as OPEC+ sets its sight on ramping up supply. Brent futures edged up 18 cents, or 0.3%, to $69.46 a barrel at 0640 GMT after falling in early trade. U.S. West Texas Intermediate crude futures rose 9 cents, or 0.1%, to $66.12 a barrel after previous declines as well. Despite the market noise, Brent at around $70 a barrel is quite a strong support and oil prices may look to stage a technical bounce at current levels, said Suvro...
The British pound (GBP) turned sideways after a strong rally in more than a month around 1.2900 against the US dollar (USD) in European trading hours on Tuesday (3/11). The GBP/USD pair traded firm as the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, struggled above a four-month low of 103.45 ahead of the US Consumer Price Index (CPI) data for February, due for release on Wednesday. Investors will be watching the US inflation data as it will influence market speculation over the Federal Reserve's (Fed) monetary policy outlook. Year-on-year...
Gold (XAU/USD) prices rose to an intraday high during the early European session (11/3) and is now looking to build on its intraday positive move beyond the $2,900 level. Ongoing concerns about the potential economic impact of US President Donald Trump's trade tariffs and geopolitical risks turned out to be key factors that continued to underpin the safe-haven bullion. Additionally, the prevailing risk-off environment and sustained US Dollar (USD) selling further benefitted the precious metal. Investors now seem convinced that a tariff-driven slowdown in US growth could force the Federal...