EUR/USD is steady in a tight range around 1.0400 during the European session on Friday (7/2) as the US Dollar (USD) trades cautiously ahead of the US (US) Nonfarm Payrolls (NFP) data for January, due to be published at 13:30 GMT. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, is fluctuating around 107.80. Economists expect the US economy to have added 170,000 jobs, down from 256,000 in December. The Unemployment Rate is expected to remain steady at 4.1%. The official employment data is expected to drive market speculation about how long the...
Gold futures rose, hovering just below their all-time high. Gold futures were up 0.55% at $2,892.50 an ounce, just shy of their all-time high of $2,906 set on Wednesday. Rather than the usual price drivers -- a strong U.S. dollar and interest rate expectations -- it was demand for safe-haven assets in turbulent political times that drove the rally, Commerzbank analysts said. This particularly reflects uncertainty surrounding President Trump's policies, they said in a note. A sharp rise in rental rates also points to tensions in the physical market. However, there are already signs of...
Oil futures rose on Friday from 2025 lows, but were on track for a third straight weekly decline amid rising U.S. inventories and concerns that higher U.S. tariffs on China would hurt growth and demand for crude. Price movement West Texas Intermediate crude for March delivery CL00 CL.1 CLH25 rose 52 cents, or 0.7%, to settle at $71.13 a barrel on the New York Mercantile Exchange, but was headed for a weekly decline of 1.9%. --Brent crude for April delivery BRN00 BRNJ25, the global benchmark, rose 55 cents, or 0.7%, to settle at $74.84 a barrel on ICE Futures Europe, on track for a weekly...