Silver price (XAG/USD) extends its winning streak for the third successive session, marking a fresh 14-year high at $42.17 during the Asian hours on Friday. The precious Silver attracts buyers as market expectations for three Federal Reserve (Fed) rate cuts this year increase after US Weekly Initial Jobless Claims climbed to their highest since October 2021. The increased jobless claims, along with last week's weak Nonfarm Payrolls report, overshadow a hotter-than-expected consumer inflation reading. It's worth noting that when interest rates are low, investors often turn to non-yielding...
A gauge of the dollar steadied after unexpectedly strong US job figures overnight lifted it off a three-year low. The Bloomberg Dollar Spot Index was little changed on Wednesday, having slipped as much as 0.4% to its weakest since 2022 during the previous session. The gauge then pared losses and Treasury yields rose after May JOLTs job openings came in above estimates. While trading in G-10 currencies is largely devoid of direction ahead of non-farm payrolls data due later this week, "we see nascent signs of the dollar staging a mini rebound should data continue to surprise to the upside,"...
The Japanese yen weakened toward 144 per dollar on Wednesday, pulling back from over three-week highs after US President Donald Trump threatened to impose a 35% tariff on Japanese imports in a bid to pressure Tokyo into making trade concessions. Trump described negotiations with Japan as "really hard," once again criticizing the country's reluctance to accept cars and rice from the US. Meanwhile, domestic data released earlier this week showed a surprise uptick in business sentiment among large manufacturers in the second quarter, underscoring resilience despite mounting external...
Gold fell to around $3,330 per ounce on Wednesday, trimming over 1% gains from the previous session as easing geopolitical risks reduced its safe-haven appeal. President Trump said Tuesday Israel agreed to a 60-day Gaza ceasefire and warned Hamas to accept before conditions worsen. Meanwhile, a weaker US dollar limited losses amid fiscal concerns and trade uncertainty. The Senate passed Trump's tax-and-spending megabill, sending it back to the House, which is projected to add $3.3 trillion to the national debt. Trump also expressed frustration over US-Japan trade talks, threatening a 35%...
Oil steadied after a modest advance with tensions in the Middle East and US inventories in focus. Brent crude traded near $67 a barrel after rising 0.6% on Tuesday, with West Texas Intermediate above $65. Iran is said to be cutting off communication with key United Nations watchdog officials, deepening uncertainty over its nuclear program and adding ambiguity to its diplomatic showdown with Washington. Meanwhile, US President Donald Trump said Israel had agreed to the conditions needed for a 60-day ceasefire in Gaza. "Warfare is non-linear and any small action...
Gold is steady in the early Asian session, underpinned by concerns over the U.S. fiscal deficit. The U.S. Senate passed President Trump's tax-and-spending megabill on Tuesday, with the bill now returning to the House of Representatives. The "bill is expected to widen the deficit by US$3.3 trillion over the next decade," Exness' Van Ha Trinh says in an email. "At the same time, uncertainty surrounding global trade persists," the financial markets strategist says. The precious metal could be supported by increasing investors' worries and uncertainty, the strategist adds. Spot gold is steady...
EUR/USD was almost unchanged on Tuesday during the North American session after hitting a multi-year high of 1.1830, before dropping below the 1.1800 level. The approval of US President Donald Trump's "One Big Beautiful Bill" and higher US Treasury yields limited the rise in the shared currency, which remained trading around 1.1780, flat. Recently, the US Senate passed Trump's tax bill by a 51-50 vote, with Vice President JD Vance casting the tie-breaking vote. Now the $3.3 trillion tax and spending bill heads to the US House of Representatives, which will approve the fiscal package, which...
Oil prices edged higher on Tuesday as investors weighed positive demand indicators while also remaining cautious ahead of an OPEC+ meeting to decide the group's output policy in August. Brent crude settled up 37 cents, or 0.6%, at $67.11 a barrel, while U.S. West Texas Intermediate crude settled up 34 cents, or about 0.5%, at $65.45 a barrel. The gains were likely driven by supportive data from a private sector survey in China, which showed factory activity picked up again in June, said Randall Rothenberg, risk intelligence expert at U.S. oil brokerage Liquidity Energy. Expectations that...
Gold prices rose more than 1% on Tuesday as investors sought safe-haven assets after US President Donald Trump's "big, beautiful bill" passed the Senate, ahead of a July 9 trade tariff deadline. Spot gold rose 1.1% to $3,338.24 an ounce, as of 2:25 p.m. EDT (1825 GMT), its highest since June 24. US gold futures settled 1.3% higher at $3,349.8. The Republican-controlled US Senate voted on Tuesday to pass a sweeping tax-cut and spending bill demanded by Trump, which would slash some social service programs. "The budget bill that passed is encouraging as it looks to contribute to a $3...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....