The US dollar index hovered around 99.4 on Friday, steadying after a volatile session as traders awaited the release of the PCE price index, the Federal Reserve's preferred measure of inflation. The report could offer early signals on whether tariffs are beginning to feed into price pressures, potentially influencing the Fed's next policy decision. On Thursday, government data confirmed the US economy contracted in the first quarter, marking the first negative growth reading in three years, further complicating the Fed's rate outlook. Meanwhile, San Francisco Fed's Mary Daly said the...
Gold price (XAU/USD) struggled to capitalize on the previous day's strong recovery move from the $3,246-3,245 region, or over a one-week low, and attracted fresh sellers during the Asian session on Friday. The US Dollar (USD) regains some positive traction following Thursday's dramatic intraday turnaround, amid some repositioning trade ahead of the pivotal inflation report from the US. This, in turn, is seen undermining demand for the bullion. However, a combination of factors should act as a tailwind for the commodity and help limit deeper losses. A federal appeals court on Thursday paused...
The GBP/USD pair attracted fresh sellers after the previous day's decent rebound from the 1.3415 area, or weekly lows amid a modest US Dollar (USD) uptick. The spot price is currently trading around the 1.3475-1.3470 region, down 0.15% for the day, though the downside seems limited as traders might opt to wait for the release of the US Personal Consumption Expenditures (PCE) Price Index. Ahead of the key data risk, some repositioning trade helped the USD to regain some positive traction after the previous day's dramatic turnaround from over one-week highs and exerted some pressure on the...