Gold steadied after Friday's sharp decline in the precious metal, with traders weighing the latest developments in trade tensions and concerns surrounding the credit exposure of regional US banks. At the end of a volatile week, bullion closed 1.7% lower, its biggest daily decline since May. Silver also traded little changed on Monday after falling 4.3% in the previous session as pressure on London stocks eased. Technical indicators suggest that the explosive rally for both metals that began in August and pushed them to new records last week may have overheated, paving the way for a...
The Japanese yen weakened earlier this week following reports that the Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) had agreed to form a coalition government. This agreement opened the door for Sanae Takaichi to become Japan's first female prime minister, while also reviving expectations of large fiscal spending and loose monetary policy. As a result, the market began to speculate that the Bank of Japan (BoJ) would delay its next interest rate hike, pushing the yen lower and sending the USD/JPY pair rallying from 149.35. However, the BoJ has not completely reversed...
World oil prices slipped again at the start of this week after recording a third consecutive weekly decline. Brent fell below $61 per barrel, while WTI (West Texas Intermediate) approached $57. Pressure stemmed from market optimism about easing trade tensions between the US and China, ahead of new negotiations scheduled for this week. President Donald Trump stated that the threat of higher tariffs on China would likely not be pursued, opening the door to a trade deal. However, the market also monitored China's economic slowdown, which continued into the second quarter. Although exports...