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 EUR/USD rises during the North American session, following the release of mixed inflation figures in the United States (US) and US President Donald Trump's threats to sue the Fed Chair Jerome Powell. At the time of writing, the pair edges up 0.50% at 1.1673. Market mood remains positive with US stocks boosted by mixed readings on the Consumer Price Index (CPI). Although headline inflation was unchanged, underlying numbers exceeded estimates, though it was ignored by market participants, who had priced in over 90% chances of a rate cut by the Federal Reserve. Following the figures,...
The dollar fell across the board on Tuesday after data showed that U.S. consumer prices increased moderately in July, leaving intact the case for a Federal Reserve interest-rate cut next month. The consumer price index rose 0.2% last month after gaining 0.3% in June, the Labor Department's Bureau of Labor Statistics said on Tuesday. In the 12 months through July, the CPI advanced 2.7% after rising 2.7% in June. Economists polled by Reuters had forecast the CPI rising 0.2% and increasing 2.8% year-on-year. "Underlying inflation remains subdued, giving policymakers room for maneuver as they...
Gold price recovered some ground on Tuesday, climbing 0.20% following the release of July's inflation print in the United States (US). Although prices had risen, Bullion's was supported by US President Donald Trump's remarks threatening the Federal Reserve's (Fed) independence. The XAU/USD trades at $3,348 at the time of writing. The US Consumer Price Index (CPI) for July missed estimates in its headline print YoY and increased the odds for a rate cut. However, the core CPI, which excludes volatile items, jumped above the 3% threshold YoY. Initially, XAU/USD fell toward its daily lows but...
The Australian Dollar (AUD) recovers ground against the US Dollar (USD) on Tuesday, with the Reserve Bank of Australia's (RBA) interest rate cut decision overshadowed by broad Greenback softness following mixed US Consumer Price Index (CPI) figures. At the time of writing, the AUD/USD pair is trading around 0.6530 during the American trading hours. Meanwhile, the US Dollar is also weighed down by political noise after President Donald Trump said on Truth Social he is "considering allowing a major lawsuit against Fed Chair Jerome Powell" and even suggested he "would sue Powell over...
The Swiss Franc (CHF) strengthens against the US Dollar (USD) on Tuesday, with USD/CHF drifting lower as mixed US inflation data reinforced expectations of a Federal Reserve (Fed) rate cut in September. Sentiment toward the Greenback was further dented after US President Donald Trump threatened to pursue legal action against Fed Chair Jerome Powell, escalating political pressure on the central bank. At the time of writing, USD/CHF is trading near 0.8080, down around 0.50% on the day, while the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is...
Gold (XAU/USD) steadies on Tuesday after slipping to a fresh one-week low. At the time of writing, the precious metal is trading near $3,350 during American hours, recovering modestly after marking an intraday low of $3,331, pressured by rising US Treasury yields and a risk-on sentiment in global markets, which are offsetting support from a softer Greenback after the release of the latest US inflation data. Data from the US Bureau of Labor Statistics showed headline Consumer Price Index (CPI) rose 0.2% MoM in July, matching expectations and slowing from June's 0.3% gain. On an annual basis,...
Silver prices hovered at $37.7 per ounce on Tuesday, extending its strong momentum since the start of the year amid signs of strong industrial demand and the prospect of a Federal Reserve interest rate cut. China installed more than 93 gigawatts of solar panels in May, surging 300% year-on-year to a new record high before a series of new policy changes made it more difficult to connect panels to the grid. Additionally, the State Grid Corporation of China stated it would invest more than $90 billion in the power grid this year to prevent solar power curtailments, aiming to ease concerns...
Gold futures are down 0.2% following the release of the July CPI, with the data causing traders to pare the downward move seen heading into this morning. The year-over-year move in consumer prices was less than forecast by economists, while core inflation at 3.1% was above forecasts. The numbers have investors embracing a risk-on attitude, says XMArabia in a note. "The fact that inflation is unchanged… means that the odds are high for a rate cut and this is pushing the prices higher," says XMArabia. Source: Bloomberg
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....