Gold price edges lower during the North American session on Thursday as the Greenback recovers some ground, even though the latest round of economic data increased speculation that the Federal Reserve may cut interest rates at the September meeting. The XAU/USD trades at $3,542, down 0.48%. Bullion eases 0.48% despite weak US jobs data fueling near-certainty of a September Fed rate cut The US economic docket revealed that the labor market continues to weaken after Initial Jobless Claims for the previous week rose. Other data showed that the trade deficit widened in July, while the...
Oil prices eased about 1% to a two-week low on Thursday on a surprise build in U.S. crude inventories last week and expectations that OPEC+ producers will increase output targets at a meeting this weekend. Brent crude futures fell 67 cents, or 1.0%, to $66.93 a barrel at 12:05 p.m. EDT (1603 GMT), while U.S. West Texas Intermediate (WTI) crude fell 59 cents, or 0.9%, to $63.38. That put Brent on track for its lowest close since August 20. The U.S. Energy Information Administration said energy firms added 2.4 million barrels of crude into storage during the week ended August 29. [EIA/S]...
The Australian Dollar (AUD) is under pressure against the US Dollar (USD) on Thursday, with AUD/USD down almost 0.50%, trading near 0.6510 at the time of writing. The pullback reflects broad Greenback resilience as markets digest a mixed batch of US labor data and stronger services activity, though the pair is holding firm above the 0.6500 psychological level. The US Dollar is regaining ground, with the DXY index hovering near 98.40, underpinned by cautious positioning ahead of Friday's Nonfarm Payrolls (NFP). Labor signals this week have pointed to softer hiring and rising layoffs, while...