Gold price (XAU/USD) oscillates in a narrow band near the top end of its weekly range during the Asian session on Thursday and remains close to a multi-month peak touched last week. A fresh leg down in the US Treasury bond yields is seen as a key factor acting as a tailwind for the commodity. Apart from this, concerns about the potential economic fallout from US President Donald Trump's tariff plans further benefit the safe-haven precious metal. Meanwhile, Trump's demand for lower interest rates and signs of abating inflation in the US support the prospect for further policy easing by the...
The GBP/USD pair is trading with modest gains around 1.2445 during the early European trading hours on Thursday (1/30). A modest pullback in the greenback is providing some support to the major currency pair. Investors will be looking closely at the US Gross Domestic Product (GDP) data for the fourth quarter (Q4), due on Thursday. In addition, weekly Initial Jobless Claims and Pending Home Sales will be published. According to the daily chart, the bearish outlook for GBP/USD remains intact, with the price holding below the important 100-day Exponential Moving Average (EMA). However, the...
The Australian Dollar (AUD) continued its decline against the US Dollar (USD) for the fourth straight day on Thursday (30/1). However, the AUD/USD pair strengthened after the release of the Export Price Index. Data from the Australian Bureau of Statistics showed export prices rose by 3.6% quarter-on-quarter in Q4 2024, reversing a 4.3% decline in Q3 and marking the first increase since Q4 2023. The Australian Import Price Index rose by 0.2% QoQ in Q4 2024, bouncing back from a 1.4% decline in Q3 and beating market expectations of a 1.5% decline. The rise was mainly driven by surging Gold...