Gold prices briefly strengthened after the release of US economic data, which sparked an initial market reaction. The data fueled speculation that economic pressures persisted, prompting investors to temporarily turn to gold as a safe haven. This increase was short-lived, especially in early trading after the data was released. However, entering the US session, gold prices came under pressure again. The strengthening US dollar and rising bond yields diminished gold's appeal. Furthermore, profit-taking following the initial surge also weighed on prices, causing gold to reverse its decline...
Top Republicans aligned with U.S. President Donald Trump pushed Ukrainian President Volodymyr Zelenskiy on Sunday to change his position on the war with Russia or step aside, ramping up pressure on the Ukrainian leader after a contentious White House meeting last week. European leaders gave a show of support to Zelenskiy at a meeting in London on Sunday, with British Prime Minister Keir Starmer urging his counterparts to step up their defense efforts, just two days after Trump and Vice President JD Vance clashed with Zelenskiy in the Oval Office, spurring him to leave early without signing...
Ukrainian President Volodymyr Zelenskiy urged President Donald Trump on Friday not to compromise with a killer, referring to the Russian leader, as they met to sign a deal for U.S. participation in Ukraine's mineral industry. Trump and Zelenskiy sat down for talks in the Oval Office as Kyiv seeks to bolster U.S. support and Trump opens talks with Moscow. Zelenskiy, who has billions of dollars in U.S. arms and moral support from the Biden administration for his war on Russia, faces a stark contrast from Trump. Trump wants to end the three-year war, improve relations with Russia and recoup...
The Federal Reserve's preferred gauge of inflation over the past 12 months moved lower in January, marking modest progress toward the central bank's 2% target, the Commerce Department said Friday. The personal-consumption-expenditures price index increased by 0.3% month over month in January, putting its 12-month rise at 2.5%. That is down from 2.6% in December.The core PCE price index, which excludes volatile food and energy costs increased by 0.3% last month as well. Its 12-month increase declined to 2.6%, from a revised 2.9% a month earlier.Both numbers landed close to Wall Street...
Core consumer prices in Japan's capital rose 2.2% in February from a year earlier, data showed on Friday, slowing for the first time in four months but remaining well above the central bank's 2% target.The persistently high inflation will likely support the case for the central bank to continue its monetary policy tightening campaign.The increase in the core consumer price index (CPI), which excludes volatile fresh food costs, was slower than a median market forecast of 2.3% and a 2.5% gain in January.A separate index that strips away the effects of both fresh food and fuel costs, closely...
US President Donald Trump took to social media on Thursday, taking to Twitter to inform global markets that his planned 25% tariff package on Mexico and Canada will go into effect on March 4, rather than the April 2 date he had asserted hours earlier. The president also told markets that he planned to impose an additional 10% tariff on Chinese goods on that date. At the same time, White House officials are preparing an additional "reciprocal tariff" package that is also in the works aimed at multiple countries, potentially expanding to include the UK and the European Union in general. More...
Pending home sales in the United States fell 4.6% in January 2025 from the previous month, following an upwardly revised 4.1% decline in December 2024. This drop pushed the index to a record low of 70.6, significantly worse than market expectations of a 1.3% decline. Sales plunged 9.2% in the South, fell 2% in the Midwest and went down 1.2% in the West but rose 0.3% in the Northeast. "It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months. However, it's evident that elevated home prices and...
New orders for manufactured durable goods in the US rose 3.1% month-over-month to $282.3 billion in January 2025, the most in six months and above market expectations of a 2% increase. It follows a downwardly revised 1.8% drop in December. The rebound was driven by transportation equipment, which surged 9.8%, particularly nondefense aircraft and parts (93.9%). Orders also rose for capital goods (10.7%), primary metals (1%), machinery (0.2%), computers and electronic products (1.7%), and electrical equipment, appliances, and components (0.1%). Excluding transportation, new orders were...
The US Bureau of Economic Analysis (BEA) reported on Thursday that the United States' Gross Domestic Product (GDP) expanded at an annual rate of 2.3% in the fourth quarter. This reading matched the initial estimate and came in line with the market expectation. "Real GDP was revised up by less than 0.1 percentage point from the advance estimate released last month, primarily reflecting upward revisions to government spending and exports that were partly offset by downward revisions to consumer spending and investment," the BEA explained in its press release. Source: FXStreet
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....