Gold (XAU/USD) prices jumped over 2%, or more than $70, on Monday as the Greenback was battered, although positive economic data from the United States (US) suggests the economy remains solid. XAU/USD trades at $3,309 after bouncing off daily lows of $3,237. Market mood improved following a report by the Institute for Supply Management (ISM) that service providers reassured the robustness of the US economy. The data hinted that prices are rising, ignited by US President Donald Trump's tariffs Over the weekend, Trump announced 100% duties on foreign-produced movies while saying that the...
Crude Oil prices are clawing back near-term losses sparked by a planned OPEC output increase.WTI briefly plunged below $65 per barrel as global glut fears resurface.OPEC is poised to reverse its self-imposed two-year production cut beginning in June.West Texas Intermediate (WTI) Crude Oil prices are stabilizing on Monday, clawing back near-term losses after the Organization of the Petroleum Exporting Countries (OPEC) announced it would begin stepping up its internal production quotas beginning in June. The move is broadly seen as a way to punish smaller OPEC member nations that flouted...
The AUD/USD pair surged on Monday, reaching a fresh five-month high near the 0.6500 level. The Australian Dollar (AUD) benefits from a range of factors, including the US Dollar's (USD) weakness, a solid economic report from the US and the strengthening of global risk sentiment. The Australian Dollar's performance also mirrors broader optimism stemming from the victory of Anthony Albanese's Labor Party in Australia's parliamentary elections, signaling the continuation of stable economic policies. Meanwhile, ongoing trade talks, particularly between the US and China, have contributed to a...