GBP/USD continues its upward momentum for the second consecutive session, hovering near 1.3360 during Asian trading hours on Tuesday. The Pound Sterling (GBP) is strengthening as the US Dollar (USD) softens in response to Moody's Ratings downgrading the US credit rating from Aaa to Aa1. This downgrade echoes similar actions by Fitch Ratings in 2023 and Standard & Poor's in 2011. Moody's now anticipates that US federal debt will rise to approximately 134% of GDP by 2035, up from 98% in 2023, while projecting the federal budget deficit to widen to nearly 9% of GDP. The downgrade reflects...
Silver price continues its decline for the third consecutive session, trading near $32.20 per troy ounce during Tuesday's Asian session. The metal's weakness comes as optimism over a potential ceasefire between Russia and Ukraine reduces demand for safe-haven assets. Reuters reported that US President Donald Trump stated on Monday that following a call with Russian President Vladimir Putin, Ukraine and Russia are set to begin immediate ceasefire negotiations, potentially without US involvement. This development has pressured precious metals, including Silver, which typically benefit from...
The Australian Dollar (AUD) dips against the US Dollar (USD) on Tuesday, following a gain of over 0.50% in the previous session. The AUD/USD pair remains under pressure after the interest rate decisions from the Reserve Bank of Australia (RBA) and the People's Bank of China (PBoC). The RBA board voted to cut the Official Cash Rate (OCR) by 25 basis points, reducing it from 4.1% to 3.85% at the conclusion of its May monetary policy meeting. The move was largely expected by markets. The PBoC announced a reduction in its Loan Prime Rates (LPRs) on Tuesday. The one-year LPR was lowered from...