Gold price rose during the North American session by 0.78%, helped by US President Donald Trump's comments on firing Federal Reserve (Fed) Chair Jerome Powell, despite his denials of the remarks, saying it is highly unlikely to fire him unless there is fraud. At the time of writing, XAU/USD trades at 3,348 after hitting a daily peak of $3,377 on Trump's headlines. A Bloomberg article revealed that "Trump discussed the possible move in a meeting with GOP lawmakers at the White House to discuss cryptocurrency legislation," with Trump saying that almost every one of them liked the idea of...
The EUR/USD holds to earlier gains of 0.25% on Wednesday after US President Donald Trump threatened to remove the Federal Reserve (Fed) Chair Jerome Powell. This, along with a softer-than-expected inflation report on the producer side, capped the Euro's advance versus the US Dollar. At the time of writing, the pair trades at 1.1633 after bouncing off three-week lows of 1.1562. During the North American session, headlines at first suggested that Trump would sack Powell imminently. However, he later denied those rumors, though he continued to batter him, saying that Powell has been too late...
Oil prices settled marginally lower on Wednesday as U.S. fuel inventory builds and concerns about wider economic impact from U.S. tariffs outweighed some signs of increasing demand. Brent crude futures settled 19 cents, or 0.3% lower, at $68.52 a barrel. U.S. West Texas Intermediate crude futures were down 14 cents, or 0.2%, at $66.38. U.S. gasoline stocks rose by 3.4 million barrels last week, the Energy Information Administration said. Analysts had expected a draw of 1 million barrels. Distillate stockpiles, which include diesel and heating oil, rose by 4.2 million barrels, EIA data...