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...
The US dollar index eased to around 99.1 on Wednesday, giving back some of the previous session's gains as investors awaited a series of labor market reports that could shape the Federal Reserve's policy outlook. Focus now turns to the ADP private payrolls report due Wednesday, followed by weekly jobless claims on Thursday and the closely watched May jobs report on Friday. On Tuesday, JOLTs data showed job openings unexpectedly rose to 7.39 million in April, up from March's revised 7.2 million and well above the 7.1 million consensus forecast suggesting continued labor market...
Gold rose toward $3,370 per ounce on Wednesday, recouping some losses from the previous session as rising geopolitical and economic risks boosted its safe-haven appeal. On Tuesday, the OECD lowered its global growth outlook, citing mounting pressure on the US economy from escalating trade tensions. This was compounded by weak US factory orders but tempered by signs of labor market resilience. Meanwhile, President Trump's tariffs on steel and aluminum took effect Wednesday, further straining global trade relations. Tensions between Washington and Beijing also remained high after mutual...
Brent crude oil futures edged lower to around $65 per barrel on Wednesday, trimming gains from the previous session as markets weighed OPEC+ plans to increase output and growing economic concerns linked to tariffs. On Tuesday, the OECD lowered its global growth outlook, citing mounting pressure on the US economy from escalating trade tensions. Limiting further losses, industry data showed a larger-than-expected drop in US crude inventories, with stockpiles falling by 3.3 million barrels last week well above the forecasted 0.9 million-barrel decline. Geopolitical risks also supported...
Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance its safe-haven appeal. Ukraine on Tuesday attacked the Kerch Bridge, which connects occupied Crimea with Russia. "Geopolitical tensions add to the appetite for gold and could support a return to the upside," DHF Capital's Bas Kooijman says. Also, worries over fiscal imbalances and expectations for Fed rate cuts later this year should continue to lend support to the precious metal, the CEO and asset manager adds. Spot gold is 0.2% higher at $3,358.83/oz. Source: Bloomberg
EUR/USD fell after hitting a six-week peak of 1.1454 on Tuesday (03/06) amid growing market concerns about a trade war triggered by the United States (US). The appreciation of the greenback weighed on the currency pair, which was trading at 1.1379, down 0.52%. Wall Street remained in the green zone on news that US President Donald Trump will reportedly speak with Chinese President Xi Jinping this week, according to Reuters sources. Data from the United States lifted the US Dollar (USD), which has been battered and lost almost 2% this week, according to the US Dollar Index (DXY). The US Job...
Oil prices rose about 2% on Tuesday to their highest in two weeks as geopolitical tensions between Russia and Ukraine continued, and the U.S. and Iran appeared set to keep sanctions on OPEC+ members Russia and Iran in place for a while longer. Brent crude futures rose $1, or 1.5%, to settle at $65.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 89 cents, or 1.4%, to settle at $63.41. "Risk premiums have increased this week as the prospect of a Russia/Ukraine ceasefire and Iran nuclear deal now appear to have been put on hold for weeks or even months," analysts at energy...
Gold fell nearly 1% on Tuesday after hitting a near four-week high, pressured by a stronger dollar as investors turned cautious ahead of a potential call between U.S. President Donald Trump and Chinese leader Xi Jinping. Spot gold fell 0.9% to $3,352.30 an ounce by 2:26 p.m. ET (1826 GMT), after hitting its highest since May 8 earlier in the session. U.S. gold futures settled 0.6% lower at $3,377.10. The dollar (.DXY), opens a new tab , rose 0.5% from a more than month-long low hit earlier in the session, making gold more expensive for foreign buyers. "We're entering what's known as the...
Gold prices pared some of their gains on Monday as they fell more than 1% on Tuesday (03/6) following jobs data from the United States (US), which revealed that the labor market remains tight. At the same time, the overall strength of the greenback weighed on the non-yielding metal. XAU/USD was trading at $3,348 after hitting an intraday high of $3,392. Investors' mood turned optimistic after the release of the latest US Job Openings & Labor Turnover Survey (JOLTS), which showed that job openings rose sharply in April. The data was positive, ahead of a busy week of much-anticipated jobs...
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....