Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $32.70 per troy ounce during the Asian hours on Wednesday. However, prices of grey metal faced headwinds as investor optimism grew over the Federal Reserve's (Fed) independence. US President Donald Trump helped calm markets by clarifying he has no intention of removing Fed Chair Jerome Powell, stating, "The press runs away with things. No, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates." Market sentiment was further...
AUD/USD attracts some dip-buyers to hold near 0.6400 in the Asian session on Wednesday. Hopes for a possible de-escalation in the US-China trade war boost investors' appetite for riskier assets and support the Aussie. Further, the pause in the US Dollar rebound also aids the pair's upside. the Australian Dollar (AUD) lost some upside traction, sending AUD/USD back toward the 0.6370 region despite the earlier advance to the area of yearly peaks around 0.6440. The late retracement in the pair came on the back of a pick-up in the buying interest around the US Dollar (USD) amid unabated jitters...
The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day. The US Dollar (USD) builds on the overnight bounce from the vicinity of a three-year low touched on Monday and turns out to be a key factor exerting downward pressure on the EUR/USD pair. That said, the weakening confidence in the US economy, along with the prospects for more aggressive policy...