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 Gold price (XAU/USD) attracts some sellers to near $3,335 during the early Asian session on Monday. The de-escalation of the trade war provides some support to the yellow metal. The FOMC Minute will be the highlight later on Wednesday. On Sunday, US President Donald Trump said that he agreed to an extension on the tariff deadline on the European Union (EU) until July 9, rescinding his threat of a 50% tariff from June 1. The easing fears of a global trade war drag the precious metal lower. However, traders will closely monitor the developments surrounding US-Japan trade deals and other...
Oil prices rose on Friday as U.S. buyers covered positions ahead of the three-day Memorial Day weekend amid concerns over the latest round of nuclear talks between U.S. and Iranian negotiators. Brent crude futures settled at $64.78 a barrel, up 34 cents, or 0.54%. U.S. West Texas Intermediate crude ended at $61.53, up 33 cents, or 0.54%. "I think there's some short-covering ahead of the weekend," said Phil Flynn, senior analyst at Price Futures Group. The Memorial Day weekend marks the start of the U.S. summer driving season, the peak demand period for motor fuel. U.S. and Iranian...
Gold prices rose more than 2% on Friday and posted their best week in six, as investors sought safe-haven assets amid new tariff threats from U.S. President Donald Trump and a weaker dollar. Spot gold rose 2.1% to $3,362.70 an ounce by 1:56 p.m. ET (1756 GMT). Bullion has gained 5.1% this week to hit its highest in more than two weeks. U.S. gold futures settled 2.1% higher at $3,365.8. "Trump has been on a rampage in the past 24 hours. Threatening 50% tariffs on the EU from June 1, attacking Apple and bashing Harvard have put stocks in a sour mood, which is good for gold," said Tai Wong,...
Oil prices rose on Friday as U.S. buyers stocked up ahead of the three-day Memorial Day weekend amid concerns over the latest round of nuclear talks between U.S. and Iranian negotiators. Brent crude futures rose 54 cents, or 0.84%, to settle at $64.98 a barrel by 1600 GMT. U.S. West Texas Intermediate crude was up 39 cents, or 0.64%, at $61.59. In earlier trading, oil futures had fallen 1% as they headed for their first weekly decline in three weeks after U.S. President Donald Trump on Friday recommended a 50% tariff on the European Union and expectations grew that OPEC+ would increase...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, fell further on Friday (5/23) and erased the previous day's recovery, trading near 99.20 at the time of writing. The fresh decline came after the House of Representatives passed US President Donald Trump's spending bill, which is now on its way to the Senate. The nonpartisan Congressional Budget Office said that the "big, beautiful bill" comes at a high price: an additional $3.8 trillion in debt to the federal government's $36.2 trillion debt over the next decade, according to Reuters. The...
Gold prices and gold stocks jumped on Friday as investors returned to the precious metal for the same reasons stocks fell on fears of new tariffs. Several gold miners flashed buy signals. Gold rose 1.4% to $3,340.80 an ounce, according to FactSet. It is up nearly 5% from a low of $3,187.20 on May 16 but is still about 2.5% below a high of $3,422.80 on May 6. Gold has pulled back from record highs this month as the tariff war eased. But investors have started turning to bullion as Treasury yields rose this week. On Friday, President Donald Trump's new tariff threats added to demand for...
Oil prices dropped by nearly 2% on Friday and were set for their first weekly decline in three weeks after U.S. President Donald Trump recommended a 50% tariff on the European Union. Brent crude futures fell $1.03, or 1.6%, to $63.41 a barrel by 1211 GMT. U.S. West Texas Intermediate crude futures were down $1.07, or 1.8%, at $60.13. Prices were already down for a fourth consecutive session, pressured by expectations of higher output from producer group OPEC+ in the coming months. President Trump said on Friday that he is recommending a straight 50% tariff on goods from the EU starting on...
Gold prices rose 1% on Friday and were on track for their best week in six, boosted by a weaker dollar and as worries over the United States' worsening fiscal health sent investors towards safe-haven bullion. Spot gold was up 1% at $3,325.47 an ounce as of 1119 GMT. Bullion has risen 4% this week, its highest since April 7. President Donald Trump's tax bill is supporting gold as there are concerns that this is negative for the fiscal situation of the dollar and some investors are diversifying out of treasury into gold, UBS analyst Giovanni Staunovo said. "We have also seen the 30-year...
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....