The Australian Dollar (AUD) weakens against the US Dollar (USD) on Wednesday, weighed down by broad risk aversion. Concerns intensified due to policy shifts by US President Donald Trump, particularly tariffs that increased the likelihood of a prolonged trade war. Australian Prime Minister Anthony Albanese stated on Wednesday that "Australia will not impose reciprocal tariffs on the United States (US)" as "retaliatory measures would only raise costs for Australian consumers and drive inflation. His remarks follow Trump's decision to implement a 25% tariff on all imported steel and...
Gold price (XAU/USD) trades near the weekly high during the Asian session on Wednesday and looks to build on the previous day's goodish rebound from the $2,880 region, or a one-week low. Investors remain worried about the potential economic fallout from US President Donald Trump's trade tariffs, which, in turn, is seen as a key factor that continues to underpin the safe-haven bullion. Moreover, expectations that the Federal Reserve (Fed) will cut interest rates several times this year amid concerns about a tariff-driven slowdown in the US economic activity lend additional support to the...
The Japanese Yen (JPY) sticks to its negative bias against a mildly positive US Dollar (USD), allowing the USD/JPY pair to gain some positive traction for the second straight day on Tuesday and hold steady above the 148.00 mark through the Asian session. Concerns that Trump could impose fresh tariffs on Japan, along with a generally positive tone around the equity markets, turn out to be key factors undermining the safe-haven JPY. Data released earlier today showed that Japan's annual wholesale inflation – Producer Price Index (PPI) – rose 4.0% in February, underscoring broadening...