Gold edges higher in the early Asian session, underpinned by ongoing global trade tensions. "Tariff concerns that risk higher inflation and slower economic growth are spurring demand for safe-haven assets like gold," ING's Ewa Manthey says in a research report. "We see uncertainty over trade and tariffs continuing to buoy gold prices - and if trade tensions intensify and we see more retaliatory measures, safe-haven demand for gold will continue," the commodities strategist adds. Spot gold is 0.2% higher at $2,989.79/oz. Source: Marketwatch
The Australian Dollar (AUD) remains steady against the US Dollar (USD) following the release of China's economic data on Monday. Additionally, the AUD/USD pair gained ground as the US Dollar (USD) edges lower ahead of Retail Sales data release later in the North American session. China's retail sales grew by 4% year-over-year in January-February, improving from December's 3.7% increase. Meanwhile, industrial production rose 5.9% YoY during the same period, exceeding the 5.3% forecast but slightly lower than the previous reading of 6.2%. The AUD could gain ground as China unveiled a special...
The US dollar index hovered around 103.7 on Monday, hovering close to five-month lows as trade uncertainties and mounting economic concerns in the US weighed on the currency. Data released on Friday showed that US consumer confidence dropped to an over two-year low in March and inflation expectations soared as President Donald Trump's escalating tariffs stoked economic concerns. Investors now await US retail sales data on Monday to gain insight on consumption trends. Markets also looked ahead to the latest Federal Reserve policy decision on Wednesday, where it is widely expected to hold...