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 dollar was steady on Wednesday before a Federal Reserve meeting to determine policy for an uncertain economy and as major investors in Asia continued to cash out of U.S. assets. News that the United States and China will hold talks on Saturday eased concerns about a trade war that has shaken investor confidence in the dollar and U.S. markets. Fed Chair Jerome Powell is expected to say more data is needed before deciding on the U.S. central bank's next move. There appears to be a slowdown in dollar selling since last week, which has been driven by investors globally, particularly in...
Gold prices fell on Wednesday as optimism over potential US-China trade talks dampened demand for safe-haven assets, while investors prepared for a Federal Reserve policy meeting later in the day. Spot gold fell 1.2% to $3,388.67 an ounce by 0225 GMT. The metal had gained nearly 3% in the previous session. US gold futures fell 0.7% to $3,397.70. "Gold appears to be pulling back 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 head...
The AUD/USD pair extended its upward momentum for the fourth straight session, holding around the 0.6510 mark during Asian trading hours on Wednesday (07/05). The Australian dollar (AUD) found support from the release of mid-tier domestic economic data and improving global trade sentiment. In April, the AiG Industrial Index rose by 5.1 points to -15 on a seasonally adjusted basis, signaling a moderate improvement despite persistent headwinds in the industrial sector. Headwinds such as global trade uncertainty, currency volatility, and the upcoming federal election continued to weigh on...
Oil prices rose after rising more than 3% in the previous session as the U.S. and China agreed to start trade talks, raising optimism that tensions between the world's two largest economies could ease. West Texas Intermediate crude rose near $60 a barrel after rising the most in nearly three weeks on Tuesday. Brent crude settled above $62. U.S. Treasury and Commerce officials are due to travel to Switzerland this week for talks with Chinese officials, the first such discussions since President Donald Trump imposed sweeping tariffs. Crude is facing increasing pressure from escalating trade...
Gold fell in early Asia on a possible technical correction after front-month Comex gold futures closed up 3% at a fresh record high of $3,411.40/oz on Tuesday. Gold prices may be weighed down by positioning ahead of the outcome of today's two-day FOMC meeting. While the FOMC is widely expected to hold rates, Fed Chair Powell's press conference will be scrutinized for any change in tone, Konstantinos Chrysikos of Kudotrade said in an email. "A hawkish stance would likely benefit Treasury yields and limit gold's upside," the head of Client Relationship Management added. Spot gold was down 1.2%...
The AUD/USD pair corrects sharply to near 0.6450 in Tuesday's European session from the five-month high of 0.6500 posted on Monday. The Aussie pair retraces as the Australian Dollar (AUD) underperforms across the board due to a slowdown in business activity in China.Signs of moderate growth in economic activities in China weigh heavily on the Aussie Dollar, given Australia's significant reliance on its exports to Beijing. Caixin Manufacturing and Services Purchasing Managers' Index (PMI) data for April have demonstrated that businesses are facing pressure due to the fallout of higher...
Crude Oil WTI Futures rebounded Tuesday, following a slump a day earlier when major oil producers announced plans to ramp up production in the coming months, but the bears may soon retake the reins, Scotiabank (TSX:BNS) says, warning of a supply surplus. "The latest OPEC+ June quota increase of another 411,000 barrels per day will further pressure the already weakened oil market," Scotiabank analysts said in a recent note. The analysts expect that as Saudi Arabia ramps up production to its new quota, global supply could exceed demand by up to 1 million barrels per day for the rest of 2025...
The AUD/USD pair remains resilient, despite a retreat from recent highs. The Australian Dollar (AUD) benefits from a weaker US Dollar (USD), as market participants focus on the Federal Reserve's (Fed) anticipated policy meeting on Wednesday. Meanwhile, the trade rhetoric surrounding the Trump administration keeps traders on edge, especially with President Donald Trump discussing possible changes to the United States-Mexico-Canada Agreement (USMCA). However, no definitive updates have been provided regarding trade deals, leaving uncertainty in global markets. The Australian Dollar is also...
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....