EUR/USD flatlined, cycling near the 1.0400 handle as investors grind through a largely unremarkable week despite a strong start on Monday. A lack of meaningful economic docket data isn't doing already-tepid markets any favors, and political headlines are driving most of what little trading volume exists. President Donald Trump lashed out about a wide variety of topics during his appearance at the WEF's annual gathering in Switzerland, colloquially referred to as Davos, the city that hosts the forum every year. President Trump reminded everyone listening that he intended to "obliterate" the...
Gold is steady in the early Asian session, underpinned by U.S. President Trump's call for lower interest rates that would bolster the allure of the non-interest-bearing precious metal. Trump said Thursday that he would like to see rates "come down a lot" and implied that steps to keep a lid on price pressures were an important precursor to lower rates. Also, gold could remain well supported by several factors including expectations of continued institutional demand, says Ramy Zeytouni, market analyst at Ramy Zeytouni LLC, in an email. Spot gold is little changed at...
Oil headed for the first weekly decline this year after Donald Trump raised the prospect of trade wars and said he will ask Saudi Arabia and OPEC to lower prices in his first few days as the new US president. West Texas Intermediate fell toward $74 a barrel, and is down almost 5% this week, while Brent closed near $78. Trump's first week in the White House began with tariff threats on Canada, Mexico and China, followed by a pledge that he would ask the producer group to "bring down the cost of oil." That's helped put futures on track for the biggest weekly loss since...