The USD/CHF pair attracted fresh sellers during the Asian session on Wednesday and eroded a major part of the previous day's modest recovery move. The spot prices fell back to mid-0.8100s in the last hour and remained within striking distance of a ten-year low touched last Friday amid a broadly weaker US Dollar (USD). In fact, the USD Index (DXY), which tracks the greenback against a basket of currencies, languished near its lowest level since April 2022 amid weakening confidence in the US economy. Further, bets that the Federal Reserve (Fed) will soon resume its interest rate-cutting cycle...
Gold rose to a new high as U.S. President Donald Trump ordered an investigation that could open a new front in the global trade war, triggering a pullback from equities and a move into safe-haven assets. Bullion rose as much as 1.89% on Wednesday to rise above $3,291 an ounce for the first time, surpassing its previous all-time peak set on Monday. Traders were again caught off guard by a series of tariff headlines, with Trump launching an investigation into the need for levies on critical minerals. The precious metal has risen more than 20% this year and hit a series of record highs as the...
Oil prices fell about 1% on Wednesday, as a U.S. tariff policy change fueled uncertainty, prompting traders to weigh the potential impact of the U.S.-China trade war on economic growth and energy demand. Brent crude was down 66 cents, or 1.0%, at $64.01 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude was down 69 cents, or 1.1%, at $60.64. Both benchmarks fell 0.3% on Tuesday. Global oil demand is expected to grow at its slowest rate in five years in 2025 and U.S. production growth is also set to ease, due to U.S. President Donald Trump's tariffs on trading partners and their...