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 struggled to make headway on Tuesday as an unprecedented two-day surge in its Taiwanese counterpart spilled over to other regional peers and highlighted the fragility of the U.S. currency. The past two-day sharp moves in the Taiwan dollar subsided during the session, but Hong Kong's de-facto central bank intervened to stop the local currency from strengthening and China's yuan jumped in its return from an extended break. Investors were also awaiting actual progress in trade negotiations with the United States and evidence of a thaw in Sino-U.S. relations, as opposed to just...
The Japanese Yen (JPY) reversed its Asian session losses against its US counterpart and attempted to build on gains recorded over the past two days. Uncertainties over US President Donald Trump's trade policies and rising geopolitical tensions kept investors cautious, which in turn, was seen lending support to the safe-haven JPY. Further, bets that the Bank of Japan (BOJ) will raise interest rates further in 2025, despite its dovish pause last week, turned out to be another factor supporting the JPY. However, optimism over a potential de-escalation in the US-China trade war and easing fears...
Oil prices rebounded more than 1% on Tuesday on a technical rebound and dip buying after the previous session's decline on OPEC+'s decision to accelerate output increases, although concerns about the market surplus outlook persisted. Brent crude was up 92 cents at $61.15 a barrel by 0309 GMT, while U.S. West Texas Intermediate crude was up 89 cents at $58.02 a barrel. Both benchmarks had settled at their lowest levels since February 2021 on Monday, boosted by OPEC+'s decision over the weekend to further accelerate oil output increases for a second straight month. "Today's modest rebound...
The GBP/USD pair is trying to hold on to its position after posting gains in the previous session, trading around 1.3300 during the Asian trading hours on Tuesday (06/05). Technical analysis on the daily chart suggests neutral near-term price momentum, as the pair ranges around the nine-day Exponential Moving Average (EMA). However, the GBP/USD pair continues to trade above the 14-day Relative Strength Index (RSI) which is holding above 50, indicating the bullish bias is still in place. Further moves will offer a clear directional trend. The GBP/USD pair faces initial resistance at the...
The USD/CHF pair struggled to capitalize on its modest Asian session uptick and is currently placed near the lower boundary of its daily range amid a subdued US Dollar (USD) price action. However, the spot prices managed to hold above the 0.8200 mark as traders opted to wait for the outcome of the two-day FOMC monetary policy meeting that began today. The Federal Reserve (Fed) is scheduled to announce its decision on Wednesday and is widely expected to keep interest rates steady. Moreover, traders have been trimming their bets that the Fed will cut interest rates in June following Friday's...
Silver (XAG/USD) prices extended its gains for the second straight session, trading around $33.10 per troy ounce during Asian trading hours on Tuesday (06/05). Precious metals prices, including Silver, rose as President Donald Trump's new tariff threats spurred demand for safe-haven assets. President Trump announced plans to direct the US Trade Representative and the Commerce Department to begin imposing 100% tariffs on films produced overseas. On Monday, he also stated that he intends to impose pharmaceutical tariffs within the next two weeks. Dollar-denominated Silver's gains could be...
Gold prices rose to a two-week high on Tuesday as concerns over U.S. President Donald Trump's tariff plans boosted interest in safe-haven metal, while investors also kept a close tab on the upcoming Federal Reserve policy meeting. Spot gold was up 1.4% at $3,380.92 an ounce, as of 0224 GMT, after hitting its highest level since April 22 earlier in the session. U.S. gold futures climbed 2% to $3,389.90. "Gold prices have a strong run-up to start this week, with investors returning to the safe-haven asset to hedge against portfolio volatility amid renewed tariff concerns from U.S. President...
AUD/USD retreated from a five-month high of 0.6493 hit on Monday, dropping to around 0.6450 during the Asian session on Tuesday (06/05). The decline came as the US Dollar (USD) strengthened ahead of the Federal Reserve's (Fed) upcoming monetary policy decision on Wednesday. While the Fed is widely expected to keep interest rates on hold, investors' focus remains on Chairman Jerome Powell's remarks, especially amid uncertainty over tariffs and growing pressure from President Donald Trump to cut rates. Adding to the mix, Treasury Secretary Scott Bessent said on Monday that the US was "very...
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....