The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, lacks a substantial catalyst and might be flatlining going into Friday's PCE data, trading around 104.35 at the time of writing. 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...
The Pound Sterling (GBP) rises during the North American session against the Greenback even though US President Donald Trump enacted automotive tariffs on all cars made outside the United States (US). Initially, risk appetite deteriorated, but it has improved. Therefore, high-beta currencies like the Sterling advance, with GBP/USD trading near 1.2930, up 0.35%. GBP/USD rises as risk appetite rebounds, while UK seeks carve-out from new US trade measuresOn Wednesday, Trump announced 25% duties on imported automobiles, effective April 2. He said that he would announce additional tariffs next...
Gold price (XAU/USD) jumped higher on Thursday, gained over 1.00% at one point before fading back to $3,046 at the time of writing. The pop in the precious metal was infused by United States President Donald Trump, who issued fresh new tariffs. Trump signed a proclamation for a 25% tariff on auto imports on Wednesday. The squeeze in Gold prices accelerates just hours ahead of the US trading session on Thursday. In addition, President Trump suggested that further and mounting tariffs can be imposed on the European Union and Canada if both territories work together to "do the US economy...