Gold edges higher in the early morning Asian session. The U.S. federal government is on track to shut down, with Congress set to miss the deadline to fund federal agencies. Front-month Comex gold futures ended 16.59% higher in 3Q, a record quarterly net gain. The precious metal's strong performance has been fueled by risingdemand for safe-haven assets, Exness's Agustina Patti says in an email. Immediate focus has remained on Washington, where talks between President Trump and congressional leaders ended without agreement on extending government funding, the financial markets strategist...
The US dollar continued to weaken, approaching its lowest level in a week as uncertainty over a possible US government shutdown looms. If the US government does shut down, the release of key data, such as Friday's jobs report, could be delayed, heightening market caution. US President Donald Trump warned that a shutdown would force the government to take "irreversible" steps, including shutting down critical programs. Meanwhile, recent data showed the US labor market is starting to weaken, with a decline in the number of workers employed despite a slight increase in job openings. In the...
The Australian dollar edged lower to around $0.660 on Wednesday, ending its three consecutive session of gains, as investors digested soft economic data. Australia's manufacturing sector continued to expand in September, though at a slower pace, while industry activity showed slight improvement but remained in contraction, with weak demand, rising costs, and labor shortages weighing on firms. Additionally, global sentiment remained cautious amid concerns over a potential US government shutdown after the Congress's failure to pass funding bills. The commodity-linked Aussie also came under...