The Japanese Yen (JPY) maintained its positive bias through the Asian session on Thursday (3/27), which, along with a broadly weaker US Dollar (USD), kept the USD/JPY pair pressured above the psychological 150.00 level. Concerns about the potential economic impact of US President Donald Trump's trade tariffs dampened investors' appetite for riskier assets. Additionally, hawkish sentiment surrounding the Bank of Japan's (BOJ) policy outlook, supported by strong wage growth for the third straight year, turned out to be a key factor supporting the JPY. Meanwhile, the Federal Reserve's (Fed)...
Gold prices rose on Thursday as U.S. auto tariffs escalated global trade tensions ahead of an April 2 deadline for reciprocal tariffs from the world's largest economies. Spot gold was up 0.5% at $3,033.20 an ounce, as of 0535 GMT. U.S. gold futures were up 0.6% at $3,039.00. U.S. President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks starting next week, widening a global trade war. Investors are concerned that Trump's retaliatory tariffs, expected to take effect on April 2, could stoke inflation, slow economic growth and escalate trade tensions....
Oil prices edged lower on Thursday as markets weighed the impact of U.S. President Donald Trump's auto tariffs at a time when concerns swirled about global supply due to U.S. tariff threats on buyers of Venezuelan oil and sanctions on Iran's oil clients. Brent crude futures fell 22 cents, or 0.3%, to $73.57 a barrel by 0733 GMT. U.S. West Texas Intermediate crude futures slipped 23 cents, or 0.3%, to $69.42. Both benchmarks were initially up in early Asian trade. On Wednesday, oil prices rose by around 1% on government data showing U.S. crude oil and fuel inventories fell last week, and on...