The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently flat to marginally lower after paring back earlier gains at 104.40 at the time of writing on Thursday. The DXY edged higher overnight on the back of tariff comments from United States (US) President Donald Trump. An additional 25% levy on all auto imports was issued to come into effect on April 3 and countries such as Canada and the European Union were threatened with more tariffs if they look to team up in their response to the US. On the economic data front, all...
Crude prices have climbed to one-month highs on heightening geopolitical risks and supply concerns, but Citigroup (NYSE:C) sees the likelihood of a lower trading range through most of 2025. At 08:30 ET (12:30 GMT), the benchmark Brent contract slipped 0.2% lower to $72.93 per barrel, after having risen back to levels around $74 a barrel on heightened geopolitical risks of U.S. policies that could hit Venezuela and Iran's oil exports. This reverses the oil sell-off in early March that took prices down to $69 a barrel, when the Organization of Petroleum Exporting Countries and allies, known...
Gold climbed to another record high early on Thursday as the dollar weakened after U.S. President Donald Trump said he will impose 25% tariffs on auto imports into the United States. Gold for June delivery was last seen up US$37.60 to US$3,089.90 per ounce, rising above Tuesday's record close of US$3,044.00. Trump's impulsive tariffs threats are boosting safe-haven demand for gold, as global equity markets are roiled by the levies, which promise to boost inflation and slow global growth. "Ongoing uncertainty around tariffs after Trump's auto tariff announcement and the broader April...