Gold price (XAU/USD) edges lower following an Asian session uptick to the $3,384 area amid a slight US Dollar (USD) bounce, though the near-term bias seems tilted firmly in favor of bullish traders. Weaker-than-expected US economic data released on Wednesday boosted market expectations that the Federal Reserve (Fed) will lower borrowing costs further in 2025. This keeps the US Treasury bond yields depressed, which, along with US fiscal concerns, should cap the USD and lend support to the non-yielding yellow metal. Apart from this, persistent trade-related uncertainties and rising...
The EUR/USD pair trades with caution, slightly above the key level of 1.1400 during Asian trading hours on Thursday. The major currency pair is expected to remain sideways, with investors awaiting the European Central Bank's (ECB) interest rate decision announcement at 12:15 GMT. The ECB is almost certain to reduce its key borrowing rates by 25 basis points (bps), a move that will lower the Deposit Facility Rate and Main Refinancing Operations Rate to 2% and 2.15%, respectively. This will be the seventh consecutive interest rate cut by the ECB and the eighth since June last year, when it...
USD/CHF pair trades with caution near the six-week low around 0.8200 during late Asian trading hours on Thursday. Investors brace for significant volatility in the pair as the United States (US) Nonfarm Payrolls (NFP) data takes centre stage, which will reflect the current status of the labor market. The US Dollar (USD) fell sharply on Wednesday after the release of a string of disappointing US economic data for May, notably a sharp slowdown in the private sector labor demand. The ADP Employment Change data showed that the private sector added 37K fresh workers, the lowest reading seen...