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...
Oil prices remained steadfastly glued to $65 a barrel, as they have been for more than three weeks, with easing trade tensions helping offset concerns about a brewing supply glut later this year. Brent inched lower, but held on to most of its gains from Thursday and was on track for its first weekly increase since mid-May. President Donald Trump and his Chinese counterpart, Xi Jinping, agreed to further trade talks over tariffs and supplies of rare earth minerals. The positive signals come against the backdrop of an oil market that has been increasingly rangebound over...
Gold prices rose on Friday and were headed for a positive week as haven demand was underpinned by uncertainty over U.S. trade policy and caution before a key U.S. payrolls reading. Bullion, along with broader metal prices, also benefited from a softer dollar, which languished near two-year lows amid few positive cues over the U.S. economy. A sharp sell-down on Wall Street, which was triggered by an escalated, public feud between President Donald Trump and billionaire Elon Musk, also boosted risk appetite. Spot gold rose 0.5% to $3,368.86 an ounce, while gold futures for August rose 0.5%...
The AUD/USD pair is trading around 0.6510 on Friday. The Australian Dollar (AUD) declines against the US Dollar (USD). The AUD/USD pair may remain stable amid market caution, as traders await the upcoming US Nonfarm Payrolls (NFP) report, due later in the day, seeking fresh insights into the United States (US) economy. Market sentiment improved following a productive phone call between US President Donald Trump and Chinese President Xi Jinping. Trump expressed that the call was productive and prepared to continue tariff negotiations. However, Trump and his team struggled to stay composed...
Silver held near a 13-year high, supported by a technical breakout that also drove platinum to the highest level since 2022, signaling growing investor appetite for precious metals used by the industrial sector. Spot silver rose as much as 4.5% on Thursday to $36.06 an ounce — the highest since February 2012 — while platinum surged 4.8% to above $1,146 an ounce. Prices on Friday held close to those peaks. The metals were aided by technical momentum across the metals complex as well as improving fundamentals, with strong appetite for physical silver in India and resurgent...
Gold edges higher in the early Asian session amid weak U.S. economic data and signs of easing U.S.-China tensions. Thursday's data, showing rising jobless claims and a sharp decline in imports, raised the prospect of slowing economic growth. Meanwhile, President Trump said his conversation with Chinese leader Xi Jinping was productive and both sides agreed to meet soon. Investors could remain cautious ahead of tonight's U.S. nonfarm payrolls report, Kudotrade's Konstantinos Chrysikos says. "A strong reading could challenge the current rate-cut narrative and weigh on gold, while any...
EUR/USD held onto earlier gains of more than 0.20% after the European Central Bank (ECB) made headlines, cutting interest rates but leaving open the possibility of a pause at its upcoming July 24 meeting. At the time of writing, the pair was trading at 1.1441 after bouncing off a daily low of 1.1404. The ECB decided to cut interest rates to 2%, as expected by market participants, although it had left open the possibility of a pause. The decision was not unanimous, with one dissenter, most likely Robert Holzmann, who, ahead of the meeting, had favored a cut after the June or July...
Oil prices rose on Thursday, recovering from the previous day's decline, on news that the US and China agreed to further trade talks after a phone call between US President Donald Trump and Chinese leader Xi Jinping. Brent crude futures were up 48 cents, or 0.7%, at $65.34 a barrel. US West Texas Intermediate crude futures were up 52 cents, or 0.8%, at $63.37 a barrel. "If we move away from the brink of a major trade war, that would raise expectations for oil demand both in the US and China," said Phil Flynn, senior analyst at Price Futures Group. The official Xinhua news agency reported...
Gold prices pared earlier gains after the latest news revealed that the phone call between US President Donald Trump and his Chinese counterpart, Xi Jinping, was positive, with the two mainly discussing trade, according to Trump. At the time of writing, XAU/USD was trading at $3,350, down 0.72%. Trump took to his social media to say that the call was positive, adding, "There should be no more questions about the complexity of the Rare Earth product." He said that the US and Chinese teams will meet at a location to be determined. The news sent bullion prices lower, as risk appetite improved...
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....