The USD/CHF pair weakened to around 0.8830 during the Asian trading hours on Tuesday (3/25), pressured by a decline in the US Dollar (USD). Traders will keep an eye on the US Conference Board's Consumer Confidence gauge, New Home Sales, and the Richmond Fed Manufacturing Index, due on Tuesday. Data released by S&P Global on Monday showed that the US Composite PMI rose to 53.5 (preliminary) in March from 51.6 in February. Meanwhile, the Manufacturing PMI fell to 49.8 in March compared to 52.7 previously, missing the estimate of 51.9. The Services PMI improved to 54.3 in March from 51.0...
The dollar hit a three-week high against the yen on Tuesday and strengthened across the board after some strong U.S. services data and cautious optimism on the tariff front. President Donald Trump said not all of the levies he threatened would be imposed on April 2 and that some countries might get relief, helping the dollar and the mood on Wall Street overnight by easing some concerns about a possible slowdown in U.S. growth. The dollar was last up at 150.56, after rising above 150 yen overnight ?t;JPY=EBS⪐. It rose to a three-week high of 150.92 yen in early Asian trading. The lack of...
Gold prices edged higher in Asian trade on Tuesday, staying below recent record highs as concerns eased over the severity of U.S. President Donald Trump's planned trade tariffs. However, demand for the safe-haven asset remained relatively high amid uncertainty over what tariffs will be imposed by Trump's April 2 deadline. Investors are also cautious ahead of a series of key economic readings this week. Gold and other precious metals pulled back from recent peaks this week, as risk appetite improved on reports that Trump's tariffs would not be as severe as feared. However, a weaker dollar...