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 jumped more than 1% on Wednesday after reports Israel is preparing a strike on Iranian nuclear facilities, raising fears that a conflict could upset supply availability in the key Middle East producing region. Brent futures for July rose 97 cents, or 1.5%, to $66.35 a barrel by 0330 GMT. U.S. West Texas Intermediate crude futures for July climbed 96 cents, or 1.6%, to $62.99. The June WTI contract expired on Tuesday at $62.56. New intelligence obtained by the United States suggests that Israel is preparing to strike Iranian nuclear facilities, CNN reported on Tuesday, citing...
The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Wednesday, rebounding after falling more than 0.50% in the previous session. The AUD/USD pair gains ground as the US Dollar extends its decline, pressured by cautious remarks from Federal Reserve (Fed) officials regarding the economic outlook and business sentiment. Speaking at a panel discussion hosted by the Federal Reserve Bank of Atlanta, San Francisco Fed President Mary C. Daly and Cleveland Fed President Beth Hammack expressed growing concerns about the US economy. While key economic indicators remain solid, both...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, is extending its losses for the third successive session and trading lower at around 99.70 during the Asian hours on Wednesday. The Greenback depreciates, pressured by cautious remarks from Federal Reserve (Fed) officials regarding the economic outlook and business sentiment. San Francisco Fed President Mary C. Daly and Cleveland Fed President Beth Hammack stated growing concerns about the US economy. While key economic indicators remain robust, both officials pointed to deteriorating...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.95 during the Asian trading hours on Wednesday. The WTI price surges after CNN reported that US intelligence suggests Israel is making preparations to possibly strike Iranian nuclear facilities. The United States (US) has obtained new intelligence suggesting that Israel is making preparations to strike Iranian nuclear facilities, even as US President Donald Trump has been pursuing a diplomatic deal with Tehran, multiple US officials familiar with the latest intelligence told CNN. It isn't clear that Israeli...
The Japanese yen strengthened past 144 per dollar on Wednesday, marking its seventh consecutive session of gains, as investors digested Japan's trade data while awaiting developments from the G7 meeting. Tokyo's trade deficit narrowed sharply in April 2025, though it defied market expectations for a surplus. Exports rose for the seventh consecutive month, but at the slowest pace in the current sequence amid concerns over looming US tariffs. Meanwhile, imports declined for the second month this year, though the drop was smaller than forecasted. Japan's chief trade negotiator, Ryosei...
EUR/USD caught a bounce for a second day in a row on Tuesday, bolstering the pair back toward the 1.1300 handle. Despite a near-term rise in bullish momentum bolstering the Fiber, EUR/USD remains well back from recent multi-year highs near 1.1575. The pair has found a firm technical floor from key moving averages, and overall market sentiment remains hopeful that traders will be able to keep finding reasons to hit the buy button. Tariffs dominate market perception, but US data looms aheadEuropean policymakers are currently wrapped up in G7 meetings, minimizing the trickle of noteworthy...
GBP/USD edged higher on Tuesday (5/20), edging closer to (but still not quite reaching) the 1.3400 level. Cable is heading into a series of key inflation and business outlook data releases, with UK Consumer Price Index (CPI) inflation due on Wednesday, with UK and US Purchasing Managers' Index (PMI) surveys due on Thursday. Trade headlines remain the main driver of global markets this week. Investors remain hopeful that a deal will be reached with the US that would prompt the Trump administration to move the tariff weapon away from its own economy, but the steady march into the unknown is...
The Japanese Yen (JPY) continued to strengthen against the US Dollar (USD) on Tuesday (5/20), marking a second straight day of gains amid broad USD weakness, although the USD/JPY pair traded flat near 144.75 during American hours. The pair dipped to an intraday low of 144.09 during early Asian trading hours before bouncing back during the European session. In contrast, the US Dollar Index (DXY), which measures the USD against a basket of six major currencies, remained subdued for the second day as sentiment weakened following Moody's downgrade of the US credit rating from Aaa 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....