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...
Gold prices dropped on Wednesday as optimism surrounding U.S.-China trade talks weakened demand for safe-haven assets, ahead of the Federal Reserve's policy decision later in the day. Spot gold fell 1.2% to $3,389.37 an ounce as of 0628 GMT. The metal had climbed nearly 3% on Tuesday. "Gold seems to be pulling back amid a broad-based 'risk on' move across markets... this is a pro-cyclical configuration that might echo optimism amid clues that the U.S. and China have started real trade negotiations," said Ilya Spivak, head of global macro at Tastylive. GLOB/MKTS U.S. Treasury Secretary...
The U.S. dollar rose against the safe-haven yen and Swiss franc while steadying versus the euro as investors looked towards the impending outcome of the Federal Reserve policy meeting later in the session and tariff negotiations. U.S. Treasury prices rose on Tuesday, as a well-received auction of the benchmark 10-year note suggested demand for Treasuries remained intact after a trade war shook investor confidence in U.S. assets. The greenback dropped sharply on the U.S. tariff announcement early last month before jumping on April 22 as U.S. Treasury Secretary Scott Bessent suggested there...
Oil prices rose on Wednesday, holding just above a four-year low, as investors focused on US-China trade talks and signs of declining US output. Brent crude futures were up 44 cents a barrel, or 0.7%, at $62.59 a barrel by 0400 GMT, while US West Texas Intermediate crude futures were up 50 cents, or 0.9%, at $59.59 a barrel. Both benchmarks have slumped to four-year lows recently after OPEC+ decided to accelerate output increases, stoking concerns about oversupply at a time when US tariffs have raised concerns about demand. "News that the US and China will start trade talks later this...
Gold prices fell on Wednesday as optimism over potential US-China trade talks dampened demand for safe-haven assets, while investors braced for the Federal Reserve's policy decision due later in the day. Spot gold fell 1.3% to $3,383.88 an ounce, as of 0432 GMT. The metal rose nearly 3% in the previous session. US gold futures fell about 1% to $3,391.80. "Gold appears to be weakening amid the broad risk-on movement across the market… this is a pro-cyclical configuration that may echo optimism amid hints that the US and China have begun real trade negotiations," said Ilya Spivak, global...
The GBP/USD pair attracted some sellers during the Asian session on Wednesday and eroded a part of its weekly gains recorded over the past two days, to the 1.3400 mark. The intraday downtick was sponsored by a modest US Dollar (USD) strength that dragged the spot prices below mid-1.3300s in the last hour. From a technical perspective, the GBP/USD pair started the week showing some resilience near the 1.3250-1.3245 support and bounced off the 100-period Exponential Moving Average (SMA) on the 4-hourly chart. Moreover, oscillators on the daily/hourly charts are holding in the positive...
EUR/USD retraced recent gains from the previous session, holding near 1.1360 during the Asian session on Wednesday (07/05). Technical analysis on the daily chart continues to show a bullish bias, with the currency pair remaining within an ascending channel pattern. The EUR/USD pair remains marginally above the nine-day Exponential Moving Average (EMA), signaling strong near-term bullish momentum. The 14-day Relative Strength Index (RSI) is also holding above the 50 mark, further supporting the prevailing bullish bias. On the upside, the EUR/USD pair could retest the April 21 high of 1.1573...
Silver (XAG/USD) weakened on Wednesday (07/04) during Asian trading hours, hovering around $33.00 an ounce after two consecutive days of gains. The decline came as safe-haven demand weakened following news that US and Chinese officials will meet this week to discuss trade, raising hopes of a de-escalation. In a key development, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are scheduled to meet Chinese Vice Premier He Lifeng in Geneva over the weekend. This marks the first high-level dialogue since the US imposed tariffs that sparked a global trade conflict....
The Japanese Yen (JPY) weakened across the board during the Asian session on Wednesday (07/05) as optimism over the US-China trade talks was seen denting demand for traditional safe-haven assets. This comes on top of uncertainty over the likely pace and timing of future interest rate hikes by the Bank of Japan (JPY), which was seen weighing on the JPY. This, along with a modest uptick in the US Dollar (USD), helped the USD/JPY pair to gain some positive traction and snap a three-day losing streak to a near one-week low touched on Tuesday. However, investors seem convinced that the BoJ could...
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....