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 futures are flat at $3,298.90 a troy ounce on a stronger U.S. dollar and signs of easing U.S.-China tensions. Gold prices slid on Friday after briefly breaching $3,500/oz earlier in the week. The most interesting point for markets is that buying demand from Asia appears to have dried up, at least for the time being, Pepperstone's Michael Brown says in a note. This could suggest more downside pressure in the near-term, which could be further exacerbated by some investors with weaker long positions bailing out the incredibly crowded gold trade, Brown writes. Given intense market...
Silver prices fell below $33 per ounce on Monday, extending losses from the previous session as easing US-China trade tensions strengthened the dollar and dampened demand for safe-haven metals. Last week, US President Donald Trump signaled openness to lowering Chinese tariffs, while Beijing exempted certain US goods from its 125% levies. Washington is also holding further trade talks with other major economies this week including Japan and South Korea. Meanwhile, China expressed confidence in meeting its full-year growth target of around 5% but refrained from introducing immediate...
Gold price (XAU/USD) maintains its offered tone through the Asian session on Monday and currently trades below the $3,300 round-figure mark, down 0.75% for the day. Despite mixed signals from the US and China, investors remain hopeful over the potential de-escalation of tensions between the world's two largest economies. Moreover, a fall in China's gold consumption in the first quarter of 2025 turns out to be a key factor undermining demand for the traditional safe-haven bullion. Meanwhile, prospects for more aggressive policy easing by the Federal Reserve (Fed) fail to assist the US Dollar...
The Australian Dollar (AUD) is extending loses for the second successive session on Monday. The AUD/USD pair is under pressure as the US Dollar (USD) strengthens amid signs of easing tensions between the US and China. China exempted certain US imports from its 125% tariffs on Friday, according to business sources. The move has fueled hopes that the prolonged trade war between the world's two largest economies might be drawing to a close. However, Reuters cited a Chinese embassy spokesperson on Friday, who firmly denied any current negotiations with the US, stating, "China and the US are...
The Japanese Yen (JPY) oscillates in a narrow range during the Asian session on Monday and stalls the recent pullback from a multi-month high touched against its American counterpart last week. US Treasury Secretary Scott Bessent did not back President Donald Trump's assertion that tariff talks with China were underway. This keeps a lid on the optimism over a quick resolution of trade tensions between the world's two largest economies and lends some support to the safe-haven JPY. Meanwhile, traders have pushed back expectations for an immediate interest rate hike by the Bank of Japan (BoJ)...
Silver price (XAG/USD) continues to lose ground for the second straight day, hovering around $32.80 per troy during Asian trading hours on Monday. The precious metal faces pressure as improving trade relations between the United States (US) and China diminish its safe-haven appeal. On Friday, reports indicated that China had exempted certain US imports from its steep 125% tariffs, raising hopes that the long-running trade dispute between the world's two largest economies could be nearing a resolution. Further boosting sentiment, US Agriculture Secretary Brooke Rollins said on Sunday,...
Gold fell further from last week's record high, as traders unwound positions on signs the metal's explosive rally may have run too hard and too fast. Bullion dipped 0.4% to near $3,305 an ounce in early Asian trading, and is down more than 5% since peaking above $3,500 on Wednesday. Shifts in options positioning — which last week saw trading volumes on the SPDR Gold Shares ETF surpass a record 1.3 million contracts — could point to an overheated market in the short term as prices run ahead of fundamental drivers including the dollar and real rates, according to Barclays...
The dollar made a steady start on Monday as investors prepared for a week packed with economic data that may give a first glimpse of whether U.S. President Donald Trump's trade war is hitting home. At 143.57 yen and $1.1360 per euro the greenback has, for now, found a footing, while staying on course for its largest monthly fall in nearly 2-1/2 years as Trump has rattled confidence in the dependability of U.S. assets [MKTS/GLOB] It is down more than 4% on both the euro and the yen through April, though bounced at the end of last week on an apparent conciliatory shift in the tone of...
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....