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 rose on Monday, supported by a weaker dollar, as investors awaited further details on U.S.-China trade relations, along with a Federal Reserve policy meeting later this week. Spot gold was up 0.5% at $3,256.85 an ounce, by 0416 GMT. U.S. gold futures were up 0.7% at $3,265.10. The dollar (.DXY), opens in a new tab, fell 0.3% against a basket of currencies, making gold more attractive to holders of other currencies. "The U.S. dollar appears to be weakening ahead of this week's Fed meeting, which could allow gold to gain a bit," said Tim Waterer, chief market analyst at KCM...
The Japanese Yen (JPY) traded with a mild positive bias against its US counterpart for the second straight day on Monday (05/05) amid renewed safe-haven demand, although the gains lacked strong conviction. Despite signs of easing US-China trade tensions, US President Donald Trump's rapidly changing stance on trade policy kept investors cautious. Further, geopolitical risks weighed on investor sentiment and provided little support to the JPY. Moreover, a modest US Dollar (USD) weakness dragged the USD/JPY pair back closer to the 144.00 mark during the Asian session. However, the Bank of...
EUR/USD is kicking off the week on a weaker note, trading near 1.1320 during the Asian session on Monday. US President Donald Trump confirmed he would not seek to remove Federal Reserve (Fed) Chair Jerome Powell before his term ends in May 2026. While Trump criticized Powell, calling him "a total stiff," he reiterated that interest rates should eventually be lowered. Additionally, the EUR/USD pair faces headwinds possibly from potential trade tensions. Trump announced plans to direct the US Trade Representative and Commerce Department to begin the process of imposing a 100% tariff on...
The dollar was struggling to hold its ground on Monday even as concerns about a U.S. recession eased just a little, while investors awaited actual evidence of a thaw in Sino-U.S. trade relations, as opposed to just hints from officials. The solid March payrolls report had offered the dollar support by lengthening the odds on a Federal Reserve rate cut in June, and making it more likely the central bank will lean hawkish at its policy meeting this week. "The labor report leaves little doubt that the FOMC will keep rates on hold this week, and the bar for cutting is now even higher for...
WTI crude oil futures fell more than 3% to around $56.2 per barrel on Monday as OPEC+ agreed to ramp up production, fueling fears about a global supply glut. OPEC+ will accelerate oil output hikes for a second consecutive month, raising output in June by 411,000 bpd. This could bring back as much as 2.2 million bpd to the market by November as the group's leader Saudi Arabia seeks to punish some fellow members that have exceeded their quotas. These supply concerns overshadowed earlier news about China weighing talks with the U.S. that could ease trade tensions between the two economic...
The Gold price (XAU/USD) trades in positive territory near $3,245 during the early Asian session on Monday. The renewed concerns over the US recession and US-China trade relations provide some support to safe-haven assets like Gold. The US ISM Services Purchasing Managers Index (PMI) for April will be in the spotlight later on Monday. While the Chinese Commerce Ministry indicated Beijing was considering an offer from the US to hold talks over US President Donald Trump's 145% tariffs, the two sides still seem far apart. Trump avoided answering the question if there will be trade deals this...
Gold edges higher in early Asian session amid losses in U.S. stock-index futures. The precious metal's direction is likely to be determined by equities' direction and risk appetite, says Fawad Razaqzada, a market analyst at City Index and FOREX.com, in an email. Gold, which has been on the defensive since topping out around $3,500/oz recently, is trying to find its footing once again, the analyst says, adding there seems to be some short-covering occurring. Spot gold is 0.2% higher at $3,247.66/oz.(Newsmaker23) Source : Dow Jones Newswires
The AUD/USD pair strengthened near 0.6450 during the Asian session on Monday (05/05). The Australian dollar (USD) strengthened against the greenback after Australian Prime Minister Anthony Albanese won a second three-year term in the 2025 Federal Election, making a big gain in Saturday's Federal Election results. Labor Party leader and Premier Albanese claimed a majority in parliament on Saturday, with more than 45% of the vote counted. Albanese became the first leader in decades to secure a second term, defeating opposition leader Peter Dutton from the center-right Liberal-National...
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....