Oil steadied after dropping by the most since early August as investors counted down to the imposition of higher US tariffs on India. The US is due to double tariffs on some Indian goods to 50% in a bid to punish the country for taking Moscow's oil. Oil has shed more than 10% this year as the US-led trade war fanned worries about demand, and OPEC+ unwound supply curbs at a rapid clip. Oil steadied after dropping by the most since early August as investors counted down to the imposition of higher US tariffs on India over its purchases of Russian crude. West Texas Intermediate traded...
Gold edges lower in early Asian trade on possible position adjustments. However, gold's losses could be limited by safe-haven demand tied to worries about the Fed's independence and risks over France's political situation. U.S. President Trump's move to dismiss Fed Governor Cook has injected uncertainty over the Fed's independence, IG's Axel Rudolph says in an email. Also, the French prime minister's austerity plan and looming confidence vote on Sept. 8 have stoked risks of a potential government collapse, the senior technical analyst adds. Spot gold is 0.1% lower at $3,390.64/oz. Source:...
GBP/USD recovered from an early-week correction on Tuesday, bouncing from a new technical floor around 1.3450. The currency pair returned to sideways movement within a familiar range as global market sentiment tended to pause awaiting the release of more important US economic data. Wednesday is expected to be a quiet session, with virtually no major data coming from either the US or Europe. Investors are still monitoring political headlines from the Trump administration while awaiting developments on President Donald Trump's efforts to "fire" Dr. Lisa Cook from the Fed's Board of...