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 GBP/USD pair attracts some sellers during the Asian session on Tuesday and erodes a part of the overnight strong move up to the 1.3560 area, or a multi-day peak. Spot prices drop to the 1.3515 area, or a fresh daily low in the last hour amid a modest US Dollar (USD) uptick, though the fundamental backdrop warrants some caution for bearish traders. The USD Index (DXY), which tracks the Greenback against a basket of currencies, rebounds from a six-week trough touched on Monday and turns out to be a key factor exerting downward pressure on the GBP/USD pair. Any meaningful USD appreciation,...
Gold price (XAU/USD) retreats from the vicinity of the $3,400 round-figure mark, or a nearly four-week peak touched during the Asian session on Tuesday and erodes a part of the previous day's strong gains. A modest US Dollar (USD) recovery from the lowest level since April 22 is seen as a key factor exerting some pressure on the commodity. Apart from this, a generally positive tone around the equity markets seems to undermine demand for the safe-haven precious metal. However, persistent trade-related uncertainties and rising geopolitical tensions might keep a lid on any optimism in the...
The Silver price (XAG/USD) faces some selling pressure to around $34.15 after retreating from a nearly seven-month high during the Asian trading hours on Tuesday. The white metal loses ground due to some profit-taking amid easing trade tensions. A generally positive tone around the equity markets weighs on the safe-haven assets, including the white metal. US President Donald Trump planned to double import tariffs on steel and aluminum, starting on Wednesday. On the same day, the Trump administration asked its trade partners to submit their best offers in order to finalize deals before...
EUR/USD edges lower after registering over 0.50% gains in the previous session, trading around 1.1420 during the Asian hours on Tuesday. The US Dollar (USD) recovers its ground on technical correction, despite growing concerns regarding stagflation in the United States (US). Traders will likely observe Eurozone Harmonized Index of Consumer Prices (HICP) data scheduled to be released on Tuesday. Focus will shift toward the release of the JOLTS Job Openings later in the North American session. US President Donald Trump threatened on Friday to double import tariffs on steel and aluminium,...
The Japanese yen weakened past 143 per dollar on Tuesday, snapping a three-day winning streak, even as Bank of Japan Governor Kazuo Ueda signaled a willingness to raise interest rates if economic and price momentum picks up. Ueda emphasized that Japan's economy is undergoing a moderate recovery, supported by solid business sentiment and improving corporate profits, despite some pockets of weakness. The currency also came under external pressure as the US dollar rebounded, with markets largely shrugging off weak US economic data and renewed global trade tensions. President Donald Trump's...
The Australian dollar weakened to around $0.647 on Tuesday, reversing sharp gains from the previous session, after Australia's central bank revealed it had considered an outsized rate cut last month. During its May policy meeting, the central bank signaled that policymakers had considered a bold 50 bps cut as a form of "insurance" against mounting global trade risks but ultimately opted for a more cautious 25 bps reduction. Still, markets are now pricing in roughly a 70% chance of another rate cut at the next RBA meeting, although many analysts expect the central bank to wait for Q2...
Oil prices rose in Asian trade on Tuesday, extending sharp gains from the prior session as uncertainty over a U.S.-Iran nuclear deal and worsening tensions between Ukraine and Russia heralded more potential supply disruptions. Gains in oil came after recent wildfires in Canada's oil-producing province, Alberta, stood to impact output. Markets were also cheered by the Organization for Petroleum Exporting Countries and allies (OPEC+) agreeing to increase production in line with market expectations. A deadly drone strike by Ukraine against Russia also ramped up concerns over more geopolitical...
The US dollar index edged higher toward 99 on Tuesday, recovering some ground after losses in the previous session as market sentiment steadied despite disappointing economic data and rising trade tensions. On Monday, data showed US manufacturing activity contracted more than expected in May, reflecting headwinds from ongoing trade uncertainty under the Trump administration. Trade concerns were heightened after Trump threatened to double tariffs on steel imports to 50%, drawing sharp criticism from major trading partners. Tensions with China also escalated as Beijing rejected Trump's...
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....