The AUD/USD pair traded cautiously near a fresh two-month low around 0.6400 during Friday's European trading session. The AUD/USD pair is expected to remain volatile as investors await Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Symposium (JH) at 14:00 GMT. Investors will be closely watching Fed Chairman Powell's speech for fresh clues on whether the US central bank will cut interest rates at its September policy meeting. Ahead of Powell's speech, the US Dollar Index (DXY), which tracks the greenback against six major currencies, hit a new 10-day high around...
Gold weakened on Friday (August 22nd) due to a stronger dollar, with the market awaiting a speech by US Federal Reserve Chairman Jerome Powell at the annual Jackson Hole symposium for further insight into the Fed's monetary policy direction. Spot gold prices fell 0.4% to $3,326.35 per ounce at 08:17 GMT, while US gold futures for December delivery fell 0.4% to $3,368.80. UBS analyst Giovanni Staunovo said the slightly stronger US currency played a significant role in the current decline in gold prices. A stronger dollar makes gold more expensive for foreign buyers. The dollar index rose...
Oil prices were little changed on Friday (August 22nd) as hopes for a peace deal between Russia and Ukraine faded, putting prices on track for their first weekly gain in three weeks. Brent crude futures fell 17 cents, or 0.25%, to $67.50 a barrel at 10:00 GMT. West Texas Intermediate (WTI) crude futures fell 13 cents, or 0.2%, to $63.39. Both contracts rose more than 1% in the previous session. Brent has risen 2.8% so far this week, while WTI has gained 1%. "Everyone is waiting for President Trump's next move," said UBS commodities analyst Giovanni Staunovo. "In the coming days, it seems...