The EUR/USD rises during the North American session, following the release of mixed inflation figures in the United States (US) and US President Donald Trump's threats to sue the Fed Chair Jerome Powell. At the time of writing, the pair edges up 0.50% at 1.1673. Market mood remains positive with US stocks boosted by mixed readings on the Consumer Price Index (CPI). Although headline inflation was unchanged, underlying numbers exceeded estimates, though it was ignored by market participants, who had priced in over 90% chances of a rate cut by the Federal Reserve. Following the figures,...
Gold gained slightly after US inflation data matched expectations and strengthened bets on an interest rate cut next month. Gold bullion prices held steady after closing 0.2% higher in the previous session, following a report showing US core inflation rising to its strongest level since the start of the year—although a slight increase in goods prices eased concerns about tariff-driven pressures. The data raised speculation that the Federal Reserve would reduce borrowing costs next month, especially given the weakening labor market. Gold, which pays no interest, typically benefits in a...
Oil prices stabilized after a slight decline on Tuesday, with investors looking to talks between US and Russian leaders on Friday for fresh impetus. West Texas Intermediate crude traded near $63 a barrel after falling 1.2% in the previous session, while Brent closed near $66. US Secretary of State Marco Rubio spoke with his Russian counterpart, Sergei Lavrov, to prepare for a summit between Donald Trump and Vladimir Putin, although he reiterated that the meeting was unlikely to produce a breakthrough in the Ukraine conflict. Oil traders are closely monitoring the talks, particularly the...