The US dollar weakened in today's trading, after strengthening in previous sessions, supported by rising US bond yields. The weakening greenback has caused investors to reduce their safe-haven dollar positions and gradually shift to other assets offering more attractive yields. Market sentiment is also influenced by speculation that the Fed could take greater policy easing steps if future economic data shows a clearer slowdown. The decline in the dollar index provides breathing space for other currencies, particularly in Asia, which have strengthened or at least stabilized compared to the...
Gold (XAU/USD) traded with a negative bias for the third consecutive day, falling to a one-week low of around $4,170 early in the European session on Tuesday. This decline lacked a clear fundamental catalyst and could be attributed to some repositioning ahead of the highly anticipated FOMC policy meeting, which begins today. Investors will continue to closely monitor the latest economic projections, including the so-called dot plot, and Federal Reserve Chairman Jerome Powell's post-meeting press conference for clues on the path of future interest rate cuts. This, in turn, will play a key...
Oil prices held steady on Tuesday after falling 2% in the previous session, with investors monitoring peace talks to end Russia's war in Ukraine, concerns about abundant supplies, and the upcoming US interest rate decision. Brent crude futures rose 22 cents, or 0.4%, to $62.71 a barrel at 11:45 GMT. U.S. West Texas Intermediate crude rose 20 cents, or 0.3%, to $59.08 a barrel. Both contracts fell more than $1 a barrel on Monday after Iraq restored production at Lukoil's West Qurna 2 oil field, one of the world's largest. Ukraine will share a revised peace plan with the US following talks...