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 Australian Dollar (AUD) extends its losses for the second consecutive session on Tuesday. The AUD/USD pair depreciates despite an improved Westpac Consumer Confidence, which surged 5.7% in August to 98.5, following a 0.6% increase in July. The sentiment has reached a high since February 2022, as the Reserve Bank of Australia (RBA) has delivered rate cuts totaling 75 basis points since January. Matthew Hassan, Head of Australian Macro-Forecasting, said the prolonged period of consumer pessimism may be coming to an end, although maintaining momentum could require additional easing....
The dollar index climbed above 98.2 on Tuesday, extending the previous session's gains as investors focused on a pivotal summit between President Donald Trump and European leaders aimed at ending the war in Ukraine. During the talks, Trump discussed potential security guarantees for Kyiv and announced follow-up meetings involving Russian and Ukrainian leaders, which he will later on attend. Ukrainian President Volodymyr Zelenskiy said Ukraine has offered to purchase about $90 billion worth of US weapons as part of the guarantees, with details expected to be finalized within ten days. On...
Oil markets were in focus following President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy, as traders weighed the potential implications for regional stability and energy flows. Crude oil held steady after Monday's gain, as Trump said he began arranging a meeting between Russian President Vladimir Putin and Zelenskiy. Asian stocks may struggle for direction at the open after the S&P 500 closed little changed. The yield on 10-year Treasuries rose two basis points on Monday, while the Bloomberg Dollar Spot...
Gold consolidates in early Asian trade ahead of the Jackson Hole economic symposium later this week. Traders await any further signals that Fed rate cuts are imminent, ANZ Research analysts say in a research report. This may happen at the symposium, where Fed Chair Powell is expected to set the scene for rate cuts as soon as September, the analysts say. However, a stronger USD has tempered investor demand while easing geopolitical tensions have weighed on safe-haven-related buying, they add. Spot gold is little changed at $3,331.89/oz. Source: Bloomberg
GBP/USD saw a softer start to the new trading week, easing back around four-tenths of one percent through the opening market sessions. The US Dollar (USD) pared some of last week's overall losses, trimming near-term gains for the Pound Sterling (GBP) on Monday. The week starts on a quiet note, with little of note on the data docket. That all changes on Wednesday, with a fresh salvo of key economic data from the United Kingdom (UK) and the start of this year's Jackson Hole Economic Symposium hosted by the Federal Reserve (Fed) Bank of Kansas. UK Consumer Price Index (CPI) inflation figures...
EUR/USD begins the week on a lower note, down 0.30% as traders await the outcome of the meeting between US President Donald Trump and Ukraine's Volodymyr Zelenskiy, after the former met with his Russian counterpart Vladimir Putin last Friday. The pair trades at 1.1669 after hitting a daily high of 1.1715. Positive news emerged from the meeting between Trump, Zelensky, and European leaders in the White House. Trump said that the day has been successful so far as Russia agreed to security guarantees, though in exchange for some territory. He answered German Chancellor Merz's demands about a...
Oil prices settled 1% higher on Monday after talks between U.S. President Donald Trump and his Ukrainian counterpart in the wake of an inconclusive U.S.-Russia summit in Alaska on Friday. Brent crude futures settled 75 cents, or 1.14%, higher at $66.60 a barrel. U.S. West Texas Intermediate crude gained about 62 cents, or 0.99%, to $63.42. Last week, Brent eased by 1.1% while WTI dropped 1.7%. Trump and Ukrainian President Volodymyr Zelenskiy met on Monday at the White House to discuss a path to ending Russia's war in Ukraine. Speaking to reporters in the Oval Office with Zelenskiy...
The Australian Dollar (AUD) is losing ground against its US counterpart to kick off the week, with the AUD/USD pair slipping below the 0.6500 mark during the New York session on Monday. The move reflects a firmer US Dollar (USD), supported by rising Treasury yields and cautious market sentiment as a high-stakes meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy gets underway in Washington. The US Dollar Index (DXY), tracking the Greenback against a basket of major currencies, is trading near 98.14, recovering modestly after hitting a near two‑week low last...
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....