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 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 $3,372.46 an ounce, as of 0202 GMT. U.S. gold futures gained 1.5% to $3,393. 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 gold faced...
The dollar slid on Thursday on further signs that U.S. President Donald Trump may adopt a softer stance in tariff negotiations and heightened expectations of Federal Reserve rate cuts. Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs are imposed. U.S. Treasury Secretary Scott Bessent suggested earlier that the Trump administration may offer extensions from a July trade deal deadline for countries negotiating in good faith. The remarks renewed dollar weakness, lifting the euro to a seven-week high....
Oil rises in early Asian trade amid Middle East tensions that could lead to supply disruptions. The U.S. is moving to reduce its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region increase. Also, data released overnight by U.S. EIA showed commercial crude-oil stocks excluding Strategic Petroleum Reserve fell by 3.6 million barrels in the week ended June 6. Analysts surveyed by The Wall Street Journal had forecast a 1.6 million-barrel decline in crude stockpiles. Front-month WTI crude oil futures are 0.4% higher...
Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance the safe-haven appeal of the precious metal. The U.S. is moving to scale down its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region rise. The tensions come before the sixth round of nuclear talks between the U.S. and Iran scheduled this weekend in Oman. Ongoing hostilities in the Middle East continue to weigh on investor confidence, says Bas Kooijman, CEO and Asset Manager of DHF Capital, in an email. Spot gold is 0.2%...
The EUR/USD surged during the North American session but remains shy of clearing the 1.1500 figure, following the release of a softer-than-expected inflation report in the United States (US), which could prompt the Federal Reserve (Fed) to reduce borrowing costs in the near term. At the time of writing, the pair trades at 1.1482, up by over 0.50%. US data revealed that the Consumer Price Index (CPI) in May fell short of estimates as prices continued to trend lower. Following the data release, US President Donald Trump posted on his social network that the Fed should lower the fed funds rate...
Oil prices rose more than 4% on Wednesday, to their highest in more than two months, after sources said the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the Middle East. Brent crude futures settled $2.90, or 4.34%, higher to $69.77 a barrel. U.S. West Texas Intermediate crude gained $3.17, or 4.88%, to $68.15. Both Brent and WTI reached their highest since early April. Surprised traders bought crude futures on reports the U.S. was preparing to evacuate its embassy in Iraq, OPEC's No. 2 crude producer after Saudi Arabia. A U.S. official said...
Gold prices posted modest gains of over 0.22% on Wednesday as the latest inflation report in the United States (US) revealed that prices are cooling. Hence, investors increased their bets that the Federal Reserve (Fed) would resume its easing cycle in September. The XAU/USD trades at $3,327. May's Consumer Price Index (CPI) in the US provided an opportunity for Gold buyers. The print dipped compared to April's data, and Bullion prices spiked toward a daily peak of $3,360 – in the headline – before erasing those gains. Uncertainty around negotiations between the US and China will most...
The U.S. dollar slid on Wednesday after data showed inflation in the world's largest economy rose less than expected last month, suggesting that the Federal Reserve could resume cutting interest rates sooner rather than later. The greenback, however, briefly trimmed losses after President Donald Trump said a U.S. trade deal with China is done, with Beijing to supply magnets and rare earth minerals while the U.S. will allow Chinese students in its colleges and universities. A White House official also said the agreement allows the U.S. to charge a 55% tariff on imported Chinese goods. This...
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....