Oil prices fell on Wednesday after Russia agreed to US President Donald Trump's proposal that Moscow and Kyiv temporarily stop attacking each other's energy infrastructure, which could allow more Russian oil to enter the global market. Brent crude was down 23 cents, or 0.3%, at $70.33 a barrel by 0730 GMT. U.S. West Texas Intermediate (WTI) crude was down 25 cents, or 0.4%, at $66.65. Russian President Vladimir Putin on Tuesday agreed to stop attacking Ukrainian energy facilities but stopped short of a full 30-day truce that Trump had hoped for. "The agreement marks a positive step...
Gold (XAU/USD) prices continued its consolidative price movement near record highs through the first half of the European session (3/19) on Wednesday as investors braced ahead of the FOMC policy update. The Federal Reserve (Fed) will announce its decision later during the US session and is widely expected to keep the federal funds rate unchanged in the current range of 4.25% to 4.50%. Hence, the focus will remain on the accompanying policy statement and the latest economic projections, which include the so-called dot plot. Apart from this, Fed Chair Jerome Powell's comments at the...
The US Dollar Index (DXY), a measure of the value of the US Dollar (USD) against a basket of six major currencies, attracted some buyers around 103.50 during the early European session on Wednesday (3/19). Traders are preparing for the Federal Reserve's (Fed) interest rate decision later on Wednesday, with no change in interest rates expected. Fed officials' fresh economic projections will be closely watched as they could provide some clues on how policymakers view the possible impact of US President Donald Trump's administration's policies. Technically, the bearish outlook for the DXY...