The Silver price ( XAG/USD) trades in negative territory around $40.65 during the early Asian session on Monday. The white metal retreats from the 14-year-old amid the prospect of a US Federal Reserve (Fed) rate cut. The expectation for lower Federal Reserve (Fed) interest rates this year will drag the US Dollar (USD) lower and boost the Silver price. After Friday's downbeat US jobs report, a total of three 0.25% rate cuts from the US central bank are now expected yet this year. Lower interest rates could reduce the opportunity cost of holding Silver, supporting the non-yielding white...
The pound was virtually unchanged on Monday (September 8th), after posting its biggest one-day rally against the dollar in two weeks on Friday, following surprisingly weak US jobs data that had reinforced expectations of a US interest rate cut this month. The pound was last unchanged on the day at $1.3513, having strengthened 0.5% on Friday, when the dollar came under heavy pressure following the August nonfarm payrolls report showing just 22,000 jobs created last month and far fewer in previous months. Traders are fully pricing in a quarter-point interest rate cut from the Federal Reserve...
The EUR/USD pair strengthened, trading near 1.1715 at the open of the European session on Monday (September 8th). The common currency received support from a weakening US dollar following Friday's poor US Nonfarm Payrolls (NFP) report, although the likely collapse of the French government kept the eurozone optimistic. The NFP confirmed a deteriorating US labor market, with the weakest growth since 2021 and a higher unemployment rate. The data virtually confirmed market expectations for an interest rate cut at next week's Federal Reserve (Fed) meeting and re-raised the possibility of a 50...