The euro continued to decline against the US dollar for the third consecutive day, driven by a strengthening dollar amid hopes that the US government shutdown would soon end. Furthermore, market expectations of a possible trade deal between the US and China also boosted demand for the dollar as a safe haven asset. Meanwhile, investors in Europe are still awaiting guidance from European Central Bank President Christine Lagarde regarding the direction of future interest rate policy. The market is also monitoring the impact of the Russian gas import ban on inflation in the eurozone. Although...
Oil prices slipped on Tuesday as investors braced for a supply surplus due to potential OPEC+ plans for a larger output hike next month and the resumption of oil exports from Iraq's Kurdistan region via Turkey. Brent crude futures for November delivery, expiring on Tuesday, fell 87 cents, or 1.3%, to $67.10 a barrel by 1:22 p.m. EDT (1722 GMT). The more active December contract fell 82 cents or 1.2% to $66.27. U.S. West Texas Intermediate crude was $62.61 a barrel, down 84 cents, or 1.3%. On Monday, Brent and WTI both settled more than 3% lower, their sharpest daily declines since August...
Gold (XAU/USD) trims earlier losses on Tuesday, trading around $3,847 at the time of writing. The metal is regaining ground after dipping toward the $3,800 mark earlier in the day, recovering from a sharp intraday pullback from a fresh all-time high near $3,871, as buyers stepped back in following softer US Consumer Confidence data and a muted reaction to the latest JOLTS Job Openings report. Despite the sharp intraday drop, Bullion's near-term floor appears firm, supported by investor demand for safe havens amid the growing risk of a United States (US) government shutdown, should lawmakers...
The dollar continued its decline on Tuesday (September 30th), falling for a third straight day. Most G-10 currencies strengthened, with the Norwegian krone and Canadian dollar lagging amid a crude oil selloff. The Bloomberg Dollar Spot Index fell more than 0.1%, for a total decline of about 0.7% over the past three sessions. USD/JPY fell for a third day to 147.99, down 1.2% overall. EUR/USD rose 0.1% to 1.1741, rising for a third session. German Inflation Exceeded Expectations, Supporting Caution on Interest Rates. GBP/USD rose 0.1% to 1.344. USD/CAD edged higher to 1.3919, its first gain...
Gold fell on Tuesday as investors booked profits after prices hit a record high earlier in the session, while concerns about a US government shutdown and growing speculation of a Federal Reserve interest rate cut limited losses. Spot gold fell 0.9% to $3,800.34 an ounce, as of 09:24 GMT, after rising 1% to a record high of $3,871.45 during Asian trading hours. Bullion prices have risen 10.4% so far in September and are on track for their biggest monthly percentage gain since July 2020. US gold futures for December delivery fell 0.7% to $3,827.80. Swissquote external analyst Carlo Alberto...
Silver prices weakened to $46 per ounce on Tuesday (September 30th) after hitting a fourteen-year high of $47.2 earlier in the trading session amid supply risks and a bullish demand outlook for both bullion and industrial silver. The Silver Institute projects the silver market will end the year in deficit for the fifth consecutive year, as global production is expected to reach 844 million ounces in 2025, 100 million ounces short of demand. Bullion assets are supported by increased demand for safe havens, recently fueled by the risk of a government shutdown in the US and fiscal risks...
Oil prices plummeted on Tuesday (September 30th) ahead of an anticipated production increase by OPEC+ and as the resumption of oil exports from Iraq's Kurdistan Region via Turkey reinforced market expectations of a supply surplus. Brent crude for November delivery, which expires on Tuesday, fell 84 cents, or 1.2%, to $67.13 a barrel at 08:09 GMT. U.S. West Texas Intermediate crude traded at $62.68 a barrel, down 77 cents, or 1.2%. This decline extended Monday's decline, when Brent and WTI closed more than 3% lower after their sharpest daily declines since August 1st. Selling pressure...
Silver traded around $47 per ounce on Tuesday and was set to advance almost 20% in September as safe-haven demand strengthened amid the risk of a US government shutdown. The standoff comes as President Donald Trump has made little progress in reaching a temporary spending deal with opponents, heightening market uncertainty. The US Labor Department also warned it would suspend economic data releases, including this week's key monthly jobs report, if a partial shutdown occurs. At the same time, markets are betting on another quarter-point Federal Reserve rate cut in October and roughly 42...
The U.S. dollar was on the back foot on Tuesday in cautious trading as investors braced for a possible U.S. government shutdown that would halt economic data releases including the crucial jobs report later this week. Government funding will expire at midnight on Tuesday unless Republicans and Democrats agree to a last-minute temporary spending deal, with President Donald Trump and his opponents making little progress at a White House meeting. The payrolls report, crucial for decision-making by policymakers at the Federal Reserve, is scheduled for Friday, and a delay could leave the...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....