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...
Gold prices rose to a one-week high on Thursday, boosted by softer US inflation data that reinforced expectations of a Federal Reserve interest rate cut this year, while investors eyed a raft of other inflation data for further direction. Spot gold was up 0.2% at $3,360.29 per ounce, as of 0838 GMT, after hitting its highest since June 5 the previous day. U.S. gold futures were up 1.1% at $3,380.00. The U.S. dollar index (.DXY), fell 0.3% to a near two-month low. A weaker dollar makes bullion cheaper for buyers holding other currencies. "Gold remains on the back foot... with a break...
The US dollar was among the weakest G8 currencies on Thursday (6/12). Risk-off sentiment fueled by US President Trump's fresh tariff threats, coupled with higher expectations of a Fed rate cut, pushed the USD lower against the safe-haven Japanese yen. US CPI figures released on Wednesday revealed that inflation grew at a 0.1% pace in May and 2.4% year-on-year, below the 0.2% and 2.5% increases expected by market analysts, respectively. The figures have eased concerns about the inflationary impact of Trump's "Liberation Day" tariffs and raised expectations that the Fed will cut rates again...
The pound (GBP) fell sharply against other major currencies on Thursday (6/12) as the U.K. Office for National Statistics (ONS) reported that the economy shrank at a faster-than-expected pace in April. According to the report, U.K. Gross Domestic Product (GDP) shrank by 0.3% month-on-month in April, faster than the 0.1% expected in March. In March, the GDP growth rate was 0.2%. The country's stronger-than-expected economic downturn is expected to force Bank of England (BoE) officials to reassess their "gradual and cautious" monetary expansion guidance, which they delivered in May after...
Silver (XAG/USD) prices extended its correction for the third trading day, dropping nearly 1.5% to near $35.50 during European trading hours on Thursday (6/12). The white metal corrected after failing to extend its more than a decade-high of $36.90 recorded on Monday. The asset faced sharp selling pressure despite the escalating tensions in the Middle East. According to officials in the United States (US) and Europe, Israel appears to be preparing to launch an attack on Iran soon, The New York Times reported. Meanwhile, Washington has announced that it will reduce the number of personnel...
Most Asian currencies rose on Thursday, led by gains in the South Korean won and the Japanese yen as the U.S. dollar weakened after President Donald Trump took a softer stance while affirming progress in U.S.-China trade negotiations. The US Dollar Index, which measures the greenback against a basket of major currencies, slid 0.3% in Asia hours, reaching its lowest level in over six weeks. The moves were also affected by expectations of Federal Reserve interest rate cuts this year after a benign consumer inflation print. US Dollar Index Futures were also trading 0.3% lower. Investors...
Gold prices rose on Thursday, bolstered by rising tensions in the Middle East and a weaker dollar, while softer-than-expected U.S. inflation data boosted expectations of Federal Reserve rate cuts. Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80. The U.S. dollar index (.DXY), opens new tab fell to a near two-month low, making greenback-priced bullion more attractive to overseas buyers. The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a "bullish...
Oil prices eased on Thursday, reversing gains made earlier in the Asian trading session, as market participants assessed a U.S. decision to move personnel from the Middle East ahead of talks with Iran over the latter's nuclear-related activity. Brent crude futures were down 30 cents, or 0.4%, to $69.47 a barrel at 0433 GMT, while U.S. West Texas Intermediate crude was 23 cents lower, or 0.3%, at $67.92 a barrel. A day earlier, both Brent and WTI surged more than 4% to their highest since early April. U.S. President Donald Trump said the U.S. was moving personnel because the Middle East...
The Australian dollar depreciated past $0.649 on Thursday, extending its decline from the previous session as risk sentiment soured amid fresh tariff threats from US President Donald Trump. On Wednesday, he announced plans to dispatch official letters to major trading partners within the next one to two weeks, outlining unilateral tariffs aimed at compelling countries to negotiate trade deals. Adding pressure on the Aussie dollar were rising expectations of further interest rate cuts by the Reserve Bank of Australia. Markets price in an 80% chance of a 25 bps cut to 3.60% at the July 8...
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....