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 were little changed on Tuesday (215) on uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks, while new government data provided a cautious outlook for the economy of China, a major crude importer. Brent crude futures fell 16 cents, or 0.2%, to settle at $65.38 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 13 cents, or 0.2%, to settle at $62.56. Iranian Supreme Leader Ayatollah Ali Khamenei said U.S. demands that Tehran halt uranium enrichment were "excessive and outrageous," casting doubt on whether talks on a new nuclear deal would...
Gold rose 2% to above $3,285 an ounce on Tuesday, boosted by a weaker U.S. dollar and rising geopolitical uncertainty. The dollar extended its decline after the Federal Reserve sounded cautious about the economy and Moody's downgraded the U.S. credit rating to Aa1, citing rising debt burdens. A weaker dollar makes gold more affordable for international buyers, boosting demand. Investor sentiment was further shaken by ongoing uncertainty over U.S. tariff policy and a key vote on President Trump's massive tax cuts. Geopolitical tensions also contributed to safe-haven inflows after...
Oil prices fell on Tuesday on uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks, while new government data provided a cautious outlook for the economy of China, a major crude importer. Brent crude futures fell 42 cents, or 0.6%, to $65.12 a barrel by 11:02 a.m. EDT (1502 GMT), while U.S. West Texas Intermediate (WTI) crude fell 26 cents, or 0.4%, to $62.43. Iran's Supreme Leader Ayatollah Ali Khamenei said U.S. demands that Tehran halt uranium enrichment were "excessive and outrageous," casting doubt on whether talks on a new nuclear deal would succeed. Iran is the...
Gold rose as traders assessed trade tensions and the Federal Reserve's interest rate direction, with some buying back into bearish positions they had built up earlier after bullion hit a key level. The precious metal's rise to $3,250 an ounce helped trigger some short covering, sending it up 1.7%, according to Ole Hansen, head of commodity strategy at Saxo Bank A/S. "Gold has seen an underlying bid throughout the day as the market considers whether we've passed peak optimism," Hansen said, adding that technical buyers rushed in after the $3,250 level was broken. Gold suffered its worst...
Gold prices eked out gains on Tuesday, buoyed by a lower dollar, while investors cautiously turned their attention to further developments in Russia-Ukraine peace talks and U.S. tariff policy. Spot gold was up 0.2% at $3,236.94 an ounce as of 1102 GMT. U.S. gold futures gained 0.2% to $3,239.40. The dollar index opens new tab was down 0.2% against its rivals, making gold less expensive for other currency holders. "Main focus of traders in the gold market today is on the optimism around the US-China trade and also on renewed hopes for progress towards peace in the Russia-Ukraine conflict,"...
EUR/USD gains further to near 1.1250 in Tuesday's European session, following the previous day's upside move. The major currency pair remains on the frontfoot as the United States (US) Sovereign Credit downgrade by Moody's continues to batter the US Dollar (USD), with the US Dollar Index (DXY) extending its downside to near 100.00. On Friday, Moody's downgraded the US credit rating by one notch to Aa1 from Aaa. This move shifted the focus of financial market participants to the growing $36 trillion US government debt pile and fiscal imbalances, which would lead to a long-term increase in...
Silver prices were near the $32.4 per ounce on Tuesday, trading with marginal gains for a second session and remaining around 12% higher year-to-date gain amid higher demand for silver as bullion and its industrial uses. Precious metals remained supported by the outlook of lower interest rates by major central banks, which reduce the opportunity cost of holding assets without any yield. Softer inflation prints maintained bets of two rate cuts by the Fed this year, while the BoE cut its benchmark rate and the PBoC reduced the rate on liquidity operations. In the meantime, higher...
Oil prices slipped on Tuesday as traders weighed the impact on supply from Russia-Ukraine peace talks and US-Iran negotiations, strong front-month physical demand in Asia and a cautious outlook for China's economy. Brent futures for July dipped 19 cents to $65.35 a barrel by 0625 GMT. June U.S. West Texas Intermediate crude futures, which expire on Tuesday, gained 3 cents to $62.72, while the more active July contract slipped 17 cents to $61.97 a barrel. Discussions on Iran's nuclear programme would "lead nowhere" if Washington insisted that Tehran slash uranium enrichment activity...
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....