Gold price drifts higher to a fresh record high near $3,375 in the Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump's tariff policies and persistent geopolitical tensions continue to underpin the precious metal. Gold price retreated further from its record high on Thursday, trading as low as $3,284.10 early in the American session. The US Dollar (USD) maintained its bearish bias against all major rivals throughout the day, with XAU/USD easing on the back of profit-taking. The pair, however, bounced from the mentioned...
GBP/USD pair extends its upside to near 1.3350 during the early Asian session on Monday. The uptick of the major pair is bolstered by the softer US Dollar (USD) broadly as traders become increasingly confident that the economic policies of US President Donald Trump will lead the economy to a recession. UK Prime Minister Keir Starmer and US President Donald Trump discussed "ongoing and productive" trade talks in their first call since Trump imposed tariffs on UK goods. According to a Downing Street official, Starmer emphasized his commitment to "free and open trade and the importance of...
Australian Dollar (AUD) recovers its losses from the previous session against the US Dollar (USD) on Monday. The AUD/USD pair held firm following the People's Bank of China's (PBoC) decision to keep its Loan Prime Rates unchanged, maintaining the one-year rate at 3.10% and the five-year rate at 3.60%. The AUD/USD pair gained support as the USD weakened amid growing concerns over the economic fallout from US tariffs. The AUD was further buoyed after US President Donald Trump announced exemptions for key technology products — many of which are made in China, Australia's top trading partner...