The US dollar was among the weakest G8 currencies on Thursday (6/12). Risk-off sentiment fueled by US President Trump's fresh tariff threats, coupled with higher expectations of a Fed rate cut, pushed the USD lower against the safe-haven Japanese yen. US CPI figures released on Wednesday revealed that inflation grew at a 0.1% pace in May and 2.4% year-on-year, below the 0.2% and 2.5% increases expected by market analysts, respectively. The figures have eased concerns about the inflationary impact of Trump's "Liberation Day" tariffs and raised expectations that the Fed will cut rates again...
Gold prices rose to a one-week high on Thursday, boosted by softer US inflation data that reinforced expectations of a Federal Reserve interest rate cut this year, while investors eyed a raft of other inflation data for further direction. Spot gold was up 0.2% at $3,360.29 per ounce, as of 0838 GMT, after hitting its highest since June 5 the previous day. U.S. gold futures were up 1.1% at $3,380.00. The U.S. dollar index (.DXY), fell 0.3% to a near two-month low. A weaker dollar makes bullion cheaper for buyers holding other currencies. "Gold remains on the back foot... with a break...
Oil prices fell on Thursday, reversing gains seen earlier in Asia, as market participants assessed the U.S. decision to remove personnel from the Middle East ahead of talks with Iran over Tehran's nuclear activities. Brent crude futures fell 73 cents, or 1.1%, to $69.04 a barrel by 0901 GMT, while U.S. West Texas Intermediate crude fell 66 cents, or 1%, to $67.49 a barrel. Both Brent and WTI jumped more than 4% to their highest levels since early April a day earlier. U.S. President Donald Trump said the U.S. was removing personnel because the Middle East "can be a dangerous place." He...