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 rose on Thursday after falling more than $1 in the previous session, supported by hopes of a breakthrough in looming trade talks between the U.S. and China, the world's two largest oil consumers. Brent crude futures were up 10 cents, or 0.2%, at $61.22 a barrel, while U.S. West Texas Intermediate crude rose 13 cents, or 0.2% to $58.20 a barrel at 0632 GMT. "Optimism around the U.S. and China trade talks this weekend is a primary factor supporting the rebound in the oil market," said independent market analyst Tina Teng. "Signs of a de-escalating trade war improved market sentiment,...
Gold extended its recent decline to around $3,360 per ounce on Thursday, as a cautious outlook on US interest rates weighed on the appeal of the non-yielding asset. The Federal Reserve held its benchmark rate steady as expected and warned of rising risks of both inflation and unemployment, reinforcing its cautious stance on future rate changes. Fed Chair Jerome Powell also stated that the central bank is not considering a preemptive rate cut in response to potential economic fallout from tariffs. Meanwhile, uncertainty surrounding US-China trade talks helped limit further losses. President...
Oil prices rose on Thursday after falling more than $1 in the previous session, supported by hopes for a breakthrough in upcoming trade talks between the US and China, the world's two largest oil consumers. Brent crude futures rose 51 cents, or 0.8%, to $61.63 a barrel, while U.S. West Texas Intermediate crude futures rose 57 cents, or 1%, to $58.64 a barrel by 0420 GMT. "Optimism surrounding the US-China trade talks later this week is a major factor supporting the oil market recovery," said independent market analyst Tina Teng. "Signs of an easing trade war have boosted market sentiment,...
Silver prices rose more than 1% to near $33 an ounce on Thursday (08/05), recovering losses from the previous session as investors sought refuge in safe-haven assets amid ongoing economic and trade uncertainty. The recovery followed the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected. However, Chairman Jerome Powell was cautious, highlighting rising risks to inflation and employment, and downplaying the possibility of a preemptive rate cut to mitigate the potential economic impact of new tariffs. On the trade front, President Donald Trump announced via...
EUR/USD held its mid-point on Wednesday, holding near the 1.1300 level after the Federal Reserve's (Fed) latest interest rate announcement came in line with traders' expectations, albeit with a fresh set of "wait and see" warnings from Fed Chair Jerome Powell. The economic calendar on the European side remains mid-level this week, leaving Fiber traders to sit back and digest the increasingly cautious Fed. Fed's Powell: The right thing to do is to wait for more clarity The Fed's recent interest rate announcement highlighted that while US employment and economic activity remain strong,...
The AUD/USD pair moved higher in Asia on Thursday (08/05), trading around 0.6440 after falling more than 1% in the previous session. The pair had previously touched a five-month high of 0.6514 on Wednesday, but fell amid the prospect of cautious Federal Reserve (Fed) policy. As expected, the Fed kept interest rates unchanged at 4.25%–4.50%, but its statement acknowledged rising risks related to inflation and unemployment, which added new uncertainty to the market. Market sentiment was further hit after Fed Chairman Jerome Powell's press conference, where he noted that US trade tariffs could...
USD/CHF consolidated on Wednesday, recording a daily close with a gain of over 0.21%. The currency pair declined from around 0.8847 to 0.8038, an eleven-day yearly low. However, the currency pair has recovered after the Swiss Consumer Price Index (CPI) data continued to weaken, paving the way for another interest rate cut by the Swiss National Bank (SNB). At the time of writing, USD/CHF was trading above 0.8230 after bouncing off a daily/weekly low of 0.8184. USD/CHF Price Forecast: Technical outlook USD/CHF has been trading sideways for the past nine days, in a range of 0.8200-0.8335, as...
Gold rose in early Asian trade after the Fed warned of economic uncertainty due to tariffs. The precious metal tends to perform well during periods of economic uncertainty. However, price gains may be capped by expectations of a meeting between U.S. and Chinese officials in Switzerland on Thursday. BofA Global Research's supply/demand model suggests gold could comfortably trade above $3,000/oz, but not above $3,500/oz for now, especially if the trade dispute eases, the Global Commodity Research team said in a note. Spot gold rose 0.2% to $3,373.34/oz. (Newsmaker23) Source: Dow Jones Newswires
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....