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...
USD/JPY is trading with significant strength, surging to the upper end of its recent range as the Japanese Yen continues to underperform after the Bank of Japan's latest policy meeting. The pair is up 1.76% on the day and approaching the 146.00 area, driven by renewed divergence between the US and Japanese monetary policy outlooks and fresh signs of weakness in the US labor market. The BoJ kept interest rates unchanged at 0.50% and lowered its GDP and inflation forecasts for the current and next fiscal years, citing rising external risks and domestic uncertainties. BoJ Governor Kazuo Ueda...
USD/CHF is trading with gains, extending its recovery to the upper 0.8900s after a busy Thursday (01/05) filled with US economic data and renewed Fed rate cut speculation. Although the ISM Manufacturing PMI and jobless claims reports pointed to labor market fragility and continued sector contraction, the greenback remains strong, supported by a steady US Dollar Index and risk-sensitive flows ahead of Friday's nonfarm payrolls report. US jobless claims for the week ended April 26 jumped to 241,000, up from 223,000 the previous week and well above consensus estimates. The increase marked the...
Oil held steady on Thursday after strong earnings from Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT) supported U.S. equities and a delay in U.S.-Iran talks offset concerns about the U.S. economy and the prospect of higher OPEC+ oil output. U.S. West Texas Intermediate crude futures fell 15 cents, or 0.3%, to $58.04 a barrel by 12:30 p.m. ET (1630 GMT). Brent crude futures fell 18 cents, or 0.2%, to $60.90. Both contracts fell more than 1% earlier. "Crude remains the target for lower prices in the near term as OPEC+ signals production, which is likely to be approved at next week's OPEC...
Gold slumped to its lowest in two weeks on Thursday, pressured by signs of easing trade tensions and a holiday in key consumer China, while focus was also on Friday's U.S. payrolls report to gauge the economic outlook. Spot gold fell 2.3% to $3,211.53 an ounce by 1:44 p.m. ET (1744 GMT), after hitting its lowest since April 14 earlier in the session. It hit a record $3,500.05 an ounce last week. U.S. gold futures settled 2.9% lower at $3,222.20. "There are signs of an impending trade deal, and talk from China that the Trump administration has been in touch. The risk-on trade is taking...
Oil rose again on Thursday after strong earnings from Meta and Microsoft supported US equities and offset concerns about the US economy and the prospect of higher OPEC+ oil output. U.S. West Texas Intermediate crude futures rose 47 cents, or 0.8%, to $58.68 a barrel by 1442 GMT. Brent crude futures rose 71 cents, or 1.2%, to $61.77. Both contracts had fallen more than 1% earlier. "It (oil price gains) can be attributed to the surge in equities due to the attractive earnings from Microsoft (MSFT.O), opens new tab and Meta (META.O), opens new tab and possibly the postponement of the next...
Gold futures slide, under pressure from a stronger U.S. dollar and profit taking. Futures are down 2.65% at $3,231.0 a troy ounce, though they remain up 20% in the year-to-date. Prices have now fallen nearly 7.9% since setting a fresh record high of $3,509.90/oz on April 22. Market risk appetite has grown and reduced demand for safe-haven assets amid rising hopes for President Trump's administration signing trade deals in the near-term. China, currently the largest consumer of gold given economic concerns, has also begun the May Day holiday. This has further reduced upward pressure on gold...
The Pound Sterling (GBP) recovers early losses and turns slightly positive to near 1.3340 against the US Dollar (USD) during European trading hours on Thursday. The GBP/USD pair attracts bids as the US Dollar (USD) faces pressure, while extending its two-day recovery, a move that is driven by hopes that fears of global disruption due to the imposition of additional tariffs by United States (US) President Donald Trump have peaked. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, struggles to break above the fortnightly high around 100.00. The USD...
A sliding yen boosted the dollar on Thursday as the Bank of Japan lowered growth forecasts in light of U.S. tariffs and left rates on hold, while investors watched for signs of the trade war cooling and awaited U.S. labour market data. The yen dropped by as much as 1.1% to 144.74 per dollar, its weakest since April 10. It was last at 144.33 per dollar. The central bank's hold on interest rates was unanimous and anticipated, but investors saw the downgraded outlook as reducing the likelihood of future hikes. "It was no surprise that they revised both the growth and inflation down but both...
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....