Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer tone made the market a little more willing to take risks, thus easing the pressure to buy gold as a safe haven. However, the big picture hasn't changed: gold remains in high territory because the world remains filled with uncertainty. Trade wars could resurface at any time, geopolitical tensions haven't completely subsided, and investors are...
The USD/CHF pair trades with caution near 0.8000 during the Asian trading session on Monday. The Swiss France pair struggles to gain ground as investors turn extremely cautious ahead of an array of United States (US) labor market-related data publishing this week. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades close to the monthly low around 97.60. Market participants will pay close attention to US job-related data to get cues about the current status of the labor market. A significant downward revision in the...
The GBP/USD pair edges higher to near 1.3520 during the early European session on Monday. The growing prospect that the Federal Reserve (Fed) will lower borrowing costs at least twice by the end of this year undermines the US Dollar (USD) against the Pound Steerling (GBP). Technically, the constructive outlook of GBP/USD remains in play, with the price being well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI) that stands above the...
The EUR/USD pair trades on a stronger note near 1.1705 during the Asian trading hours on Monday. The rising rate cut expectation from the US Federal Reserve (Fed) continues to weigh on the Greenback against the Euro (EUR). Later on Monday, the European Central Bank (ECB) President Christine Lagarde is scheduled to speak. The Personal Consumption Expenditures (PCE) Price Index came in line with the expectations in July, according to the US Bureau of Economic Analysis. The headline PCE rose 2.6% YoY in July, while core PCE, which excludes the more volatile food and energy, climbed 2.9% in the...
Oil prices fell in Asian trading on Monday after recording monthly losses for August, as investors discounted the risk of immediate supply disruptions from potential secondary sanctions on Russian crude and focused on fresh Chinese factory data for demand signals. As of 23:01 ET (03:01 GMT), Brent Oil Futures expiring in October fell 0.4% to $67.21 per barrel, while West Texas Intermediate (WTI) crude futures also declined 0.4% to $63.78 per barrel. Both contracts dropped more than 7% in August, dragged by supply glut fears from steady OPEC+ production hikes. Markets shrug off...
Gold prices climbed toward $3,480 per ounce on Monday, nearing a record high as investors weighed the future of the Federal Reserve and uncertainty over US President Donald Trump's tariffs. A hearing on Trump's move to fire Fed Governor Lisa Cook ended Friday without a decision, and a ruling is not expected to arrive before at least Tuesday. At the same time, a federal appeals court ruled that Trump's global tariffs were illegally imposed under an emergency law, upholding a May ruling by the Court of International Trade. But these tariffs will be allowed to persist until October 14, giving...
The yen strengthened to around 146.8 per dollar on Monday, recovering losses from the previous session as the greenback stayed under pressure from expectations of Federal Reserve rate cuts. Traders are also awaiting a series of US labor market releases this week that could shape the Fed's next move. In Japan, data showed capital spending rose 7.6% in Q2 2025, accelerating from 6.4% in the prior quarter and topping forecasts of 6.2%. Meanwhile, the August manufacturing PMI was revised down to 49.7 from 49.9, marking the 13th contraction in factory activity over the past 14 months. Markets...
The Australian dollar appreciated past $0.654 on Monday, marking its fifth consecutive session of gains and its highest level in over two weeks amid a mixed set of domestic economic indicators. Notably, Australia's Manufacturing PMI rose to a near three-year high of 53 in August 2025, marking its eighth consecutive month above the 50-point threshold. Labor market conditions also showed resilience, with ANZ-Indeed Job Ads edging up 0.1% month-over-month in August, rebounding from a decline in July. In the housing sector, private house approvals increased by 1.1% month-over-month in July to...
The dollar index hovered around 97.8 on Monday, near one-month lows, as traders awaited a series of labor market releases this week that could shape the Federal Reserve's next policy decision. Key reports include Friday's August jobs data, alongside figures on unemployment, job openings, and private payrolls. Investors also weighed Friday's PCE price index, which confirmed continued price increases and added uncertainty to the outlook for rate cuts. Still, markets are pricing in about an 88% probability that the Fed will lower rates by 25 basis points later this month. On the trade front,...
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....