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 rose more than 1% on Wednesday on supply concerns as OPEC+ agreed to leave its output policy unchanged and as the U.S. banned Chevron (CVX.N), opening up new opportunities to export Venezuelan crude. Investors had anticipated OPEC+ members would agree to increase output later this week. Brent crude futures settled up 81 cents, or 1.26%, at $64.90 a barrel. U.S. West Texas Intermediate crude rose 95 cents, or 1.56%, to $61.84 a barrel. OPEC+, the Organization of the Petroleum Exporting Countries and its allies, left output policy unchanged. They agreed to establish a mechanism...
Gold prices were little changed, trading around $3,300 an ounce on Wednesday as investors digested the minutes from the Federal Reserve's May meeting, which revealed growing concerns about inflation and a weakening labor market, in part due to trade tensions and proposed tariffs. The Fed maintained a cautious stance, opting to hold interest rates steady for a third straight meeting while acknowledging rising economic uncertainty and risks to inflation and employment. While the economy remains solid, officials have warned of lower growth forecasts and rising recession risks. Gold, up 26%...
Oil prices rose as markets weighed the risk of additional U.S. sanctions on Russia and the possibility that nuclear talks with Iran would fail to produce a deal. West Texas Intermediate crude rose more than 2% to $62 a barrel after President Donald Trump said Russian President Vladimir Putin was "playing with fire" by escalating attacks on Ukraine. The U.S. is considering additional sanctions on the country after aggressive actions against Russia's oil industry earlier this year sent crude surging past $80 a barrel. Russia-Ukraine talks are set to be held in Istanbul on June 2, according to...
Gold fluctuated after a two-day decline as markets remained in wait-and-see mode despite data showing improving economic sentiment and signs of progress in trade talks. Bullion fell as much as 0.3% after earlier rising as much as 0.7%, while the dollar wavered and Treasury yields edged higher. Investors weighed improving trade relations between Washington and Brussels. The European Union's trade chief, Maros Sefcovic, said he planned to speak with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Thursday, as the EU has sought to speed up negotiations...
The U.S. dollar rose for a second day on Wednesday on optimism that a trade deal will brighten the U.S. economic outlook, while the Japanese yen weakened after the government saw weak demand for 40-year bonds. Pessimism about the U.S. economy has eased after Trump delayed plans to impose 50% tariffs on European Union imports over the weekend and following a deal with China earlier this month to reduce tariffs imposed on each other. "The quick reversal of tariff threats against Europe over the weekend has improved risk appetite and reduced negative perceptions about the U.S. growth...
The dollar index edged up to 99.7 on Wednesday, extending a nearly 0.4% gain from the previous session, as traders awaited fresh catalysts while continuing to monitor trade tensions and fiscal developments under the Trump administration. Despite the recent uptick, the greenback remains near its 2023 lows reached in April and is down more than 7% year-to-date. On Sunday, President Trump postponed the implementation of a planned 50% tariff on EU imports to July 9th, just days after announcing the sweeping measure. Meanwhile, his so-called "big beautiful bill" narrowly passed the House of...
Oil prices inched up on Wednesday, with the U.S. barring Chevron (CVX.N), opens new tab from exporting crude from Venezuela and production shut-ins from Canada, while markets eyed an expected production increase from OPEC+. Brent crude futures rose 54 cents, or 0.8%, to $64.63 a barrel by 1050 GMT, while U.S. West Texas Intermediate crude gained 64 cents, or 0.9%, to stand at $61.45 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron (CVX.N), opens new tab that would let it keep assets in Venezuela but not export oil or expand activities, Reuters...
Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,319.61 an ounce, as of 1029 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,318.60. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance...
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....