GBP/USD remained weak for the second straight session, trading around 1.2320 during Asian hours on Thursday (1/23). The pair faced challenges as the US Dollar (USD) received support as President Donald Trump issued a memorandum instructing federal agencies to investigate and address the ongoing trade deficit. The greenback could appreciate further as traders expect the US Federal Reserve (Fed) to keep its benchmark interest rate steady in the range of 4.25%-4.50% at its January meeting. Moreover, Trump's policies could boost inflationary pressures, potentially limiting the Fed to just one...
The Australian dollar (AUD) held steady against the US dollar (USD) on Thursday (23/1), as market concerns eased following news that China-specific tariffs proposed under US President Donald Trump's revised plan were much smaller than previously expected. The development helped calm investor nerves, especially given the strong trade ties between China and Australia, which make the Australian market sensitive to changes in China's economic landscape. President Trump announced plans to impose 10% tariffs on Chinese imports from February 1, citing concerns over fentanyl shipments from China to...
Gold (XAU/USD) prices attracted some sellers during the Asian session on Thursday (23/1) and for now, seems to have snapped three consecutive days of gains to the highest levels since early November, around the $2,763-$2,764 region touched the previous day. The US Dollar (USD) seems to extend its overnight recovery from monthly troughs amid a further recovery in the US Treasury bond yields. This, along with the underlying bullish sentiment around the equity markets, turned out to be the key factors weighing on the safe-haven demand for the precious metal. Meanwhile, signs of easing...