The EUR/USD pair dipped below 1.1400 for the second straight day, boosted by the recovery of the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, weak inflation data in France weakened the common currency, which was trading on Tuesday at 1.1335, down more than 0.40%. Risk appetite improved as market participants digested news that US President Donald Trump said trade talks between the United States (US) and the European Union (EU) were gaining strength following his threat of 50% tariffs last Friday. Although he backed off, leaving some room for negotiations, it...
Gold edged up after a two-day decline, as markets remained in wait-and-see mode despite data showing improving economic sentiment and signs of progress in trade talks. Bullion prices were trading near $3,309 an ounce after falling 1.3% on Tuesday as U.S. consumer confidence rose sharply in May from a near five-year low, signaling a more positive outlook for the economy and labor market. The dollar rose after the data, making bullion more expensive for most buyers. Investors also weighed improving trade relations between Washington and Brussels, with U.S. President Donald Trump saying he...
The US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improving US consumer confidence bolstered sentiment toward the greenback. Market optimism was further supported by President Trump's decision to delay a planned 50% tariff on the EU, easing concerns over escalating trade tensions and improving the outlook for US assets. Meanwhile, European leaders have reportedly asked top companies and CEOs to outline their US investment plans ahead of upcoming trade negotiations with Washington. On the monetary policy front, Minneapolis Fed President Neel...