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 Pound Sterling (GBP) recoups initial losses against the US Dollar (USD) during European trading hours on Wednesday after correcting to near 1.3460 earlier in the day. The GBP/USD pair bounces back as the US Dollar (USD) gives up initial gains despite firm hopes that the United States (US) and the European Union (EU) will reach a trade deal soon. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls back to near 99.50 from the intraday high of 99.85. On Tuesday, US President Donald Trump expressed confidence in a post on Truth.Social that the...
Oil prices inched up on Wednesday as investors considered supply risks after the U.S. barred Chevron (NYSE:CVX) from exporting crude from Venezuela under a new asset authorisation, though expectations of more output from OPEC+ continued to limit gains. Brent crude futures rose 7 cents, or 0.1%, to $64.16 a barrel by 0640 GMT, while U.S. West Texas Intermediate crude gained 9 cents, or 0.2%, at $60.98 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron that would allow it to keep assets in Venezuela but not to export oil or expand its activities, Reuters...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after registering more than 0.50% gains in the previous session. The DXY is trading around 99.60 during the European hours on Wednesday. Traders await the FOMC Minutes due later in the North American session. The US Dollar is gaining support amid growing optimism among US consumers following the Conference Board's Consumer Confidence Index rising to 98.0 in May from the previous 86.0 reading. Additionally, the emergence of bond market optimism is supporting the Greenback,...
Gold prices fell in Asian trade on Wednesday, remaining under pressure from improved risk appetite after U.S. President Donald Trump postponed plans to impose steep trade tariffs on the European Union. Gold and broader metals were also pressured by a mild recovery in the dollar, which came amid some signs of stability in the Treasury market. But bullion still remained relatively underpinned by uncertainty over U.S. trade and fiscal health, with focus on more U.S. trade deals and the progress of a divisive tax cut bill backed by Trump. Spot gold steadied at $3,301.96 an ounce, while gold...
The GBP/USD pair attracts some sellers to around 1.3480 during the Asian trading hours on Wednesday. The Greenback strengthens against the Pound Sterling (GBP) on the encouraging economic signs in the United States (US). Data released by the Conference Board on Tuesday showed that the US Consumer Confidence Index rose to 98.0 in May from 86.0 in April (revised from 85.7). The Minutes of the Federal Open Market Committee (FOMC) will take center stage later on Wednesday. The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of...
The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Wednesday for the third successive session. The AUD/USD pair loses ground after the release of the Monthly Consumer Price Index (CPI). However, the Australian Bureau of Statistics reported that monthly inflation, in the price of a fixed basket of goods and services acquired by household consumers, steadied at 2.4% year-over-year in April, surpassing the expected 2.3% increase. The AUD/USD pair depreciates as the US Dollar receives support from a dovish tone surrounding the US yields, driven by Japan's indication...
EUR/USD continues its losses for the second successive day, trading around 1.1310 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) draws support and as US yields depreciate following Japan's indication of potential cuts in government debt issuance, which has boosted global bond markets. At the time of writing, the 10- and 30-year yields on US Treasury bonds are standing at 4.46% and 4.97%, respectively. Additionally, the Greenback received support as the Conference Board's Consumer Confidence Index rose to 98.0 in May from the previous 86.0...
Gold price (XAU/USD) struggles to capitalize on a modest Asian session uptick and currently trades just below the $3,300 mark, close to the weekly low touched the previous day. Better-than-expected US economic data released on Tuesday calmed recession fears and assisted the US Dollar (USD) in attracting buyers for the second straight day, which, in turn, is seen undermining the commodity. Apart from this, a generally positive risk tone turns out to be another factor acting as a headwind for the safe-haven precious metal. However, the uncertainty surrounding US President Donald 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....