The US Dollar Index (DXY) weakened and moved below the 97.50 level in Asian trading on Tuesday (9/7), after recording a surge of more than 1% in the previous session. The DXY had strengthened due to a surge in risk aversion following the announcement of new tariffs from the White House, but weakened again as markets began to consider the potential for a Federal Reserve interest rate cut amid increasing US fiscal pressures. What caused it? President Donald Trump signed an executive order on Monday night that delayed the implementation of new tariffs until August 1, giving trading partner...
Oil slipped for the third time in four days as investors focused on the fallout from a wave of US trade levies and a decision by OPEC+ to restore more of the group's idled capacity. Brent dipped toward $69 a barrel and West Texas Intermediate was below $68. President Donald Trump threatened new tariff rates on trading partners, while suggesting that he was still open to negotiations. The duties on countries including Japan and South Korea won't take effect until at least Aug. 1. President Donald Trump unveiled the first in a wave of promised letters that threaten to impose...
Gold price (XAU/USD) sticks to modest intraday losses through the early European session on Tuesday, though it lacks follow-through selling amid a combination of diverging forces. Investors now seem convinced that the Federal Reserve (Fed) will keep interest rates steady amid expectations that US President Donald Trump's tariffs would underpin US inflation. This, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal. However, worries about the potential economic fallout from Trump's trade tariffs and US fiscal concerns fail to assist the US Dollar (USD) in...