The Australian Dollar (AUD) ends its three-day winning streak against the US Dollar (USD), with the AUD/USD pair trading subdued following the release of mixed Chinese Purchasing Managers' Index (PMI) data on Monday. As close trade partners, China's economic performance significantly impacts the Australian economy. China's NBS Manufacturing PMI fell to 49.1 in January, down from 50.1 in December, missing the market expectation of 50.1. Similarly, the NBS Non-Manufacturing PMI declined to 50.2 in January compared to December's 52.2 reading. The Australian Dollar also failed to gain support...
Oil fluctuated as investors reacted to rapid-fire moves on trade by the Trump administration, with the US threatening, and then holding off, a broad package of curbs against Colombia. Brent dropped below $78 a barrel, but pared a deeper intraday loss, while West Texas Intermediate was near $74. Following a dispute over migrants, President Donald Trump first ordered tariffs against Bogota, before the White House paused the actions as Colombia agreed to all Trump's conditions. The US dollar, meanwhile, pushed higher, weighing on most commodities. Crude remains higher this...
Silver price (XAG/USD) has retraced its gains, trading around $30.30 per troy ounce during the Asian session on Monday. The non-interest-bearing metal faces challenges with the upcoming US Federal Reserve (Fed) policy decision this week. There is widespread anticipation that the Fed will maintain current interest rates, marking the first pause in the rate-cutting cycle that began in September. The uncertainty surrounding US President Donald Trump's trade and immigration policies could prompt the Federal Reserve to remain cautious about cutting rates this year. Trump's policies are perceived...