Oil prices declined on Thursday as U.S. President Donald Trump's August 1 tariff deadline loomed over investors, with uncertainty surrounding countries yet to negotiate a trade deal with the U.S. Brent crude futures for September expired on Thursday and settled down 71 cents, or 0.97% to $72.53 a barrel. U.S. West Texas Intermediate crude for September settled down 74 cents, or 1.06%, to $69.26. U.S. crude futures fell more than $1 earlier in the session. Both benchmarks had recorded 1% gains on Wednesday. Countries that haven't negotiated a trade deal or received a tariff letter from the...
GBP/USD sank again on Thursday, falling for a sixth straight session and dragging the Pound Sterling (GBP) down nearly 3% top-to-bottom from last week's peak near 1.3588. Cable is getting dragged back into bearish territory as the US Dollar (USD) catches a broad-market bid on renewed interest rate woes amid rebounding US inflation data and a looming Nonfarm Payrolls (NFP) report on Friday. United States (US) economic data remains far more robust than many market watchers and policymakers had feared when the Trump administration kicked off a never-ending cycle of tariff threats and...
The EUR/USD recovered some ground on Thursday, up a modest 0.10% after data from the United States (US) revealed a strong economy, justifying the Federal Reserve's reluctance to reduce rates, as witnessed on Wednesday. AT the time of writing, the pair trades at 1.1417, virtually unchanged. Before Wall Street opened, the Fed's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Price Index, exceeded estimates and the previous month's reading, indicating that prices are rising. Other data revealed that the labor market remains resilient, after the number of Americans...