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 GBP/USD pair started the new week on a weaker note and reversed part of Friday's modest recovery from the vicinity of the 1.3200 level, or over three-week lows. The spot prices traded around the 1.3280-1.3275 region during the Asian session, down 0.20% for the day amid a broadly stronger US Dollar (USD). The US announced on Sunday that a trade deal with China has been reached following high-stakes trade talks in Switzerland over the weekend. This, in turn, helped ease market concerns about a recession in the US. Moreover, the Federal Reserve's (Fed) hawkish pause earlier this month...
EUR/USD eased from the previous session's gains, trading near 1.1240 during the Asian session on Monday (5/12). The euro (EUR) faced pressure as European Central Bank (ECB) official Olli Rehn indicated last week that the ECB may consider cutting interest rates at its next meeting—noting that upcoming forecasts confirm a persistent deflationary trend and slowing economic growth. Nonetheless, the EUR/USD pair gained support from optimism surrounding the US-China trade talks held in Geneva. Both sides reported "substantial progress" after two days of negotiations aimed at defusing the ongoing...
The dollar rose in early Asian trade on Monday after weekend talks between the United States and China eased fears of a trade war between the world's two largest economies while global hot spots appeared to cool. The dollar, government bonds and equities have been battered since massive tariffs announced by US President Donald Trump last month shook confidence in American assets. After talks in Geneva, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said Sunday a deal had been reached with China to cut the US trade deficit. More details are expected on Monday....
Gold prices fell in Asian trade, dragged down by weaker safe-haven demand triggered by weekend developments. Officials from the U.S. and China concluded their trade talks over the weekend, with Beijing saying the two sides agreed to begin a formal negotiation process and Washington touting progress toward a deal. Also, India and Pakistan on Saturday agreed to a ceasefire after what President Trump described as a U.S.-brokered deal. Profit-taking could halt gold's rally, but it could also boost consumers, the World Gold Council said in a recent commentary. Spot gold was down 1.3% at...
Oil edged higher after the US and China reported "substantial progress" in two days of talks aimed at easing a trade war, signaling a possible resolution of the conflict that has threatened demand in the world's two largest crude consumers. Brent rose above $64 a barrel, after last week posting its first weekly gain in three, while West Texas Intermediate neared $61. After two days of negotiations in Geneva, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said they were optimistic about progress and would share more information on Monday, with their Chinese...
Gold price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338. Wall Street registers losses as traders brace for the meeting between the China and US delegations in Switzerland on Saturday. Although expectations are high that the trade war sustained by both countries could de-escalate, investors remained cautious ahead of the talks. US President Donald Trump said...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, reverses sharply on Friday after hitting a near one-month high of 100.86 earlier in the day. Disappointment surrounding the so-called US-UK trade deal weighed heavily on the Greenback, with investors focusing on this weekend's critical trade negotiations between the United States and China in Switzerland. US Dollar softens ahead of key talksThe US-UK trade deal is being written off by markets as non-substantive, with US tariffs on UK goods remaining at 10%.Market focus shifts to US-China...
Oil prices rose around 1% on Friday and were set for their first weekly gains since mid-April as a U.S. trade deal with United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing. Brent crude rose by 61 cents, or 1%, to $63.45 a barrel by 12:29 p.m. ET (1629 GMT). U.S. West Texas Intermediate crude was up 57 cents, or about 1%, at $60.48. Week-over-week, both benchmarks were on track to rise about 4%. U.S. President Donald Trump said on Friday that China should open up its market to the United States and that 80% tariffs on Chinese goods...
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....