The dollar was little changed on Wednesday, with weak US confidence data and concerns about the impact of broad tariffs on US growth hampering a recent recovery. The British market was in focus as Finance Minister Rachel Reeves is due to announce spending cuts later in the day, in a bid to show investors she can be trusted to fix public finances as growth falters. After briefly dropping below 150 yen, the dollar hovered at 150.20 yen, but traders were less convinced, as a chaotic week of tariffs loomed. The euro, which spent the week retreating from a five-month high, fell to $1.0776, a...
Gold's price (XAU/USD) is edging higher to around $3,027 at the time of writing on Wednesday and is turning this week's performance into green numbers. The precious metal is being bought together with other precious metals as Copper pops to a new all-time high. Copper metal is in the eye of attention after United States (US) President Donald Trump mentioned on Tuesday that Copper tariffs will be implemented in the coming weeks, which is far sooner than markets were anticipating. Meanwhile, there is also a headline risk on Ukraine, where a Black Sea ceasefire deal is on the table. Ukraine's...
Oil rose after an industry report signaled a chunky decline in US crude stockpiles, while the market weighed the prospect of a Russia-Ukraine ceasefire in the Black Sea. West Texas Intermediate futures climbed close to $70 a barrel, a level not seen since the start of the month. US inventories fell by 4.6 million barrels last week, according to the American Petroleum Institute. That would be the biggest draw since November if confirmed by official data on Wednesday. The US, meanwhile, said Russia and Ukraine had agreed to a truce "to ensure safe navigation" in...