Gold price (XAU/USD) extends its consolidative price move around the $3,350 region through the first half of the European session on Wednesday and remains close to a nearly four-week high touched the previous day. Traders now seem reluctant and opt to wait for potential talks between US President Donald Trump and Chinese President Xi Jinping before placing fresh directional bets. In the meantime, persistent trade-related uncertainties and geopolitical risks might continue to act as a tailwind for the safe-haven precious metal. Meanwhile, expectations that the Federal Reserve (Fed) will...
Oil prices slipped in Asian trade on Wednesday, weighed down by concerns of increasing OPEC+ output and tariff tension that threatens the global economic outlook, though worries about Canadian supply provided a floor. Brent crude futures dipped 17 cents, or 0.3%, to $65.46 a barrel by 0644 GMT, while U.S. West Texas Intermediate crude was down 19 cents, or 0.3%, at $63.22 a barrel. Both benchmarks climbed about 2% on Tuesday to a two-week high, driven by worries over supply disruption from Canadian wildfires and expectations that Iran would reject a U.S. nuclear deal proposal key to easing...
The US Dollar (USD) showed resilience despite the late-session bounce in Treasury yields, supported by strong April JOLTS job openings. That said, the JOLTS data adds little to the overall jobs picture: the labour market remains tight, while declining quits suggest wage growth is easing. The dollar's rebound appears more a reflection of markets struggling to justify an already elevated risk premium without fresh negative developments on trade or Treasury fronts, ING's FX analyst Francesco Pesole notes. USD to come under renewed pressure "Markets may also be adopting a slightly more...