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 rose after its biggest daily surge in four weeks as a weaker dollar and stronger demand for safe-haven assets bolstered trade and geopolitical risks. Bullion prices were near $3,390 an ounce after jumping 2.8% on Monday as relations between Washington and Beijing deteriorated and the Russia-Ukraine war escalated. China accused the U.S. of violating their latest trade deal and vowed to take action to defend its interests, even as the White House later confirmed the countries' leaders would likely speak this week. Meanwhile, the European Union issued a fresh warning of retaliatory...
The Australian Dollar (AUD) traded positive in the early hours of the Asian session on Tuesday (03/06), while the US Dollar (USD) remained pressured. A series of events, including the re-escalation of tensions between the United States and China and the threat of new tariffs, have led to significant outflows from the USD, which has benefited other currencies, such as the Australian Dollar. US President Trump, tariffs, and trade wars continue to drive sentiment and demand for the US Dollar. US President Donald Trump recently announced that tariffs on steel and aluminum imports will double...
EUR/USD edged higher during the North American session to hit a six-week high of 1.1449, poised to hold above 1.1400 as the US Dollar dropped to levels last seen in April as the "Sell America" trade continued. Escalating trade tensions between the United States (US) and China, as well as the Eurozone (EU), prompted investors to favor the Greenback with the Euro posting a gain of over 0.68%. Recently, economic data in the US revealed that business activity in the manufacturing sector remained in contraction territory, according to the Institute for Supply Management (ISM). Last week, US...
Oil prices rose more than 2% on Monday, even as the OPEC+ producer group stuck to its output hike plan, as wildfires in Canada's oil-producing provinces threatened supplies and President Donald Trump's threat of new tariffs weighed on the dollar. Brent crude rose $1.76, or 2.8%, to $64.54 a barrel by 2:14 p.m. EDT (1814 GMT). U.S. West Texas Intermediate crude rose $1.63, or 2.68%, to $62.42. Wildfires burning in Canada's oil-producing province of Alberta have affected about 7% of the country's total crude output as of Monday, according to Reuters calculations. At least two thermal oil...
Gold prices jumped 2.5% on Monday to above $3,370 an ounce, hitting their highest in more than three weeks as investors sought a safe haven amid rising geopolitical and economic risks. A 0.7% drop in the dollar made the metal more attractive to foreign buyers, further fueling the rally. Market jitters mounted after U.S. President Donald Trump announced plans to double tariffs on steel and aluminum imports to 50%, effective June 4, adding to existing trade tensions with China. Trump also accused Beijing of violating a recent tariff truce, while China retaliated with its own accusations,...
The dollar's decline this year risks accelerating, with June providing a number of potentially negative catalysts. The 2025 decline, though steeper by more than 7% — so far orderly, but the scale and scope of the dollar's selling is likely to increase on any dovish Fed pricing later in the year. The dollar fell on Monday — down against all G10 currencies — after just posting its fifth straight monthly decline in its longest losing streak since 2020. Traders began the month grappling with deteriorating diplomatic relations between the U.S. and China over trade and weaker-than-expected...
Gold rose more than 2% on Monday to its highest in more than three weeks, as a weaker dollar and a combination of geopolitical risks and economic uncertainty fueled investor demand for safe-haven assets. Spot gold was up 2.7% at $3,377.29 an ounce, as of 10:19 a.m. ET (1419 GMT), after hitting its highest since May 8 earlier in the session. U.S. gold futures were up 2.6% at $3,402.70. The dollar (.DXY), fell 0.7% against a basket of other currencies, making bullion cheaper for holders of other currencies. Stocks also fell as U.S.-China trade tensions escalated and investors braced for a...
The U.S. dollar fell against other major currencies on Monday, giving up some of the previous week's gains, as markets weighed the outlook for President Donald Trump's tariff policy and its potential to hurt growth and unleash inflation. The U.S. currency started the week on the back foot after Trump said on Friday that he planned to double duties on imported steel and aluminum to 50% from Wednesday, and as Beijing hit back against accusations it violated an agreement on critical minerals shipments. China's Commerce Ministry said on Monday the charges were "groundless," and promised to...
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....