EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair trades at 1.1736, virtually unchanged. Euro ends week modestly higher as soft US data cements rate cut bets, narrowing policy divergence with ECB US economic data continued to drive price action on Friday as Consumer Sentiment in September deteriorated, while inflation expectations remain above the Fed's 2% goal. This, and the payrolls revision...
Oil prices rose after surging to their highest in nearly five months on Tuesday, as President Donald Trump stoked speculation that the U.S. might join an attack on Iran, raising concerns about a disruption to Middle East supplies. West Texas Intermediate crude rose as much as 1.1% to trade above $75 a barrel earlier. Brent crude settled near $76 in the previous session. Trump met with his national security team on Tuesday, demanding Iran's "UNCONDITIONAL SURRENDER" and warning of a possible attack on the OPEC producer leader ahead of the meeting in a social media post. So far, Iran's crude...
Gold was steady in early Asian trade, supported by continuing geopolitical tensions that typically boost the precious metal's appeal as a safe haven. The Israeli military issued two warnings about incoming missiles early Wednesday, local time, saying the launches had been detected as being aimed at Iran and that they were trying to intercept them. "The environment for precious metals remains favorable," Thu Lan Nguyen of Commerzbank Research said in a note. The head of FX and Commodity Research cited factors including continued high geopolitical uncertainty. Spot gold was little changed at...
GBP/USD plummeted over 1.2% on Tuesday, backsliding through near-term congestion and popping out the other side near the 1.3400 handle after global investors were knocked off their pre-seeded hopes that the Israel-Iran altercation would find a quick and peaceful resolution. Donald Trump, posting on social media Tuesday, declared that he wants an "UNCONDITIONAL SURRENDER" from Iranian supreme leader Ali Khamenei, and announced that American military assets were moving into the Middle East conflict region. The escalation between Israel and Iran, on top of Trump's decision to further involve...
The US Dollar rallied past 98.86, up 0.74% at four-day highs, despite US Treasury yields plunging. This move came despite the release of worse-than-expected US Retail Sales data in May and a softer reading on Industrial Production. On Wednesday, Initial Jobless Claims for the last week, Housing Starts, Building Permits, and the Federal Open Market Committee (FOMC) policy decision would set the tone for the Greenback. Consequently, most G8 forex currencies were laggards compared to the US Dollar. The EUR/USD fell below 1.1500 even though German ZEW figures were positive, and ECB's officials...
WTI crude oil futures rallied 4.3% to settle at $74.8 per barrel on Tuesday, as escalating tensions between the US and Iran reignited supply concerns. US President Donald Trump demanded Iran's "unconditional surrender" and directly threatened Supreme Leader Ayatollah Ali Khamenei, calling him "an easy target" in a series of social media posts. The gains reversed Monday's losses, which were driven by hopes of a ceasefire between Iran and Israel. Despite the latest escalation, the oil market has remained relatively stable, supported by strong global supply, including rising OPEC+ output and...
EUR/USD slipped below the key 1.1500 level on Monday, retreating from recent highs as geopolitical risks drove demand for the US Dollar. At the time of writing, EUR/USD is trading near 1.1481, with intraday losses nearing 0.70% The move followed comments from US President Donald Trump, who called for Iran's "unconditional surrender" on Tuesday and warned Tehran to dismantle its nuclear program or face escalating consequences. He praised Israeli airstrikes as "excellent" and "very successful," warning that future operations could be "even more brutal," and urged Tehran to "make a deal now"...
Oil prices climbed over 3% on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures gained $2.76, or 3.77%, to $75.99 a barrel by 12:56 p.m. CDT (1756 GMT). U.S. West Texas Intermediate crude was up $2.50, or 3.48%, at $74.26. While there was no noticeable interruption to oil flows, Iran partially suspended gas production at the South Pars field it shares with Qatar after an Israeli strike started a fire there on Saturday. Israel also hit the Shahran oil depot in...
Gold prices retreated below the $3,400 level on Tuesday despite deteriorating risk appetite as overall US Dollar (USD) strength drove the yellow metal lower. Nevertheless, the escalation of the Israel–Iran conflict would likely underpin the precious metal due to its safe-haven appeal. At the time of writing, XAU/USD trades at $3,380, down 0.05%. Market mood is downbeat, but Bullion has failed to rally as the US Dollar stages a comeback. The US Dollar Index (DXY), which tracks the performance of the Dollar against six major currencies, is up 0.46% at 98.58. On Monday, US President Donald...
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....