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...
The Japanese Yen (JPY) is trading weaker against the US Dollar (USD) on Friday, as geopolitical tensions and central bank policy divergence drive market flows. USD/JPY has staged a modest rebound, trading above 144.00 at the time of writing, as demand for the safe-haven US Dollar picks up. Reports of Israeli strikes on Iranian nuclear facilities have lifted geopolitical risk, supporting the USD and weighing on the Yen. Meanwhile, expectations that the Bank of Japan (BoJ) will leave interest rates unchanged at its upcoming meeting on Tuesday have further limited JPY gains. While BoJ...
GBP/USD is tumbling over 0.40% on Friday as geopolitical tensions triggered a flow towards the US Dollar (USD) haven status after Israel launched an attack on Iran, which escalated the Middle East conflict. The pair traded near 1.3550s after hitting a three-year peak of 1.3632.Israel's attacks targeted Iran's nuclear facilities, missile factories and military commanders, according to Israeli officials. Iran media revealed that explosions were heard in Tehran and Natanz, the latter being crucial for the Iranian nuclear program. Consequently, Iran retaliated against Israel and sent over 100...
Oil prices jumped over 7% on Friday to multi-month highs after Israel launched air strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies. Brent crude futures were up $4.94, or 7.12%, to $74.30 a barrel at 1442 GMT, after hitting an intraday high of $78.50, the strongest level since January 27. U.S. West Texas Intermediate crude was up $4.72, or 6.94%, at $72.75, touching its highest since January 21 at $77.62 earlier in the session. Friday's gains were the largest intraday moves for both contracts since 2022, after Russia's...
The U.S. dollar gained against major currencies, including the euro and yen, on Friday as markets sought safe-haven assets amid rising geopolitical tensions following an Israeli attack on Iran. Israel launched a barrage of strikes across Iran on Friday, attacking nuclear facilities and missile factories and killing a swath of military commanders. Israel said about 100 drones had been launched towards Israeli territory in retaliation, although an Iranian source denied this. U.S. President Donald Trump, Israel's main ally, urged Iran to reach a deal on its nuclear program, suggesting that...
Gold (XAU/USD) is extending its gains as Israel's attacks on Iran continue, supporting demand for the safe-haven precious metal. At the time of writing, Gold is trading near $3,430, with a surge in bullish momentum potentially opening the door for a retest of the $3,500 record high in the near term. The attacks by Israel on Iran's nuclear facilities have resulted in a broad ‘risk-off' tone throughout markets, supporting Gold's rise. Recent news indicates that the United States and Israel have warned that attacks are likely to persist, leading to a surge in gold prices, which are currently...
Oil prices jumped more than 7% on Friday, trading near multi-month highs after Israel launched a major strike on Iran, prompting Iranian retaliation and raising concerns about disruptions to oil supplies. Brent crude futures jumped $5.1, or about 7.4%, to $74.46 a barrel by 0843 GMT after hitting an intraday high of $78.50, the highest since Jan. 27. U.S. West Texas Intermediate crude rose $5.1, or 7.5%, to $73.15 a barrel after hitting a high of $77.62, the highest since Jan. 21. Friday's gains were the biggest intraday moves for both contracts since 2022, after Russia's invasion of...
Gold jumped after Israel carried out airstrikes targeting Iran's nuclear sites and military leadership, raising concerns that hostilities between the two countries could escalate into a wider regional conflict. Bullion rose as much as 1.7% on safe-haven investor demand, before paring some gains. Israeli Prime Minister Benjamin Netanyahu said the operation would continue until the "threat" was eliminated. Iran vowed a "strong response" to the airstrikes and sent a wave of drones toward Israel. The U.S. was not involved in the Israeli strikes, according to Secretary of State Marco Rubio, but...
The US dollar rose on Friday as investors flocked to the currency and other safe havens including US Treasury bonds and gold after Israel launched a major attack on Iran, prompting Tehran to retaliate. Israel said it targeted multiple military targets in Iran, and Iran launched a barrage of drones in response. "The geopolitical escalation adds another layer of uncertainty to an already fragile sentiment," said Charu Chanana, chief investment strategist at Saxo. "The key question now is whether this marks a brief flare-up or the beginning of a broader regional escalation. If tensions...
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....