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...
Brent crude oil futures rose to around $66.9 per barrel on Monday, amid hopes for easing in the U.S.-China trade tensions. While it remains uncertain whether formal trade negotiations between the two countries have begun, President Donald Trump last week softened his rhetoric towards China, and Beijing has exempted some U.S. imports from its 125% tariffs. However, overall gains may be capped as progress in U.S.-Iran nuclear talks has raised concerns about the potential return of Iranian crude to the market. Additionally, the prospect of OPEC+ ramping up production for a second straight month...
The US dollar (USD) edged higher on Friday (4/25) as investors digested conflicting messages from the United States and China regarding potential tariff negotiations. While President Donald Trump hinted that dialogue was underway, Beijing has flatly denied that any talks are currently taking place. The differences injected volatility into the market, although the greenback maintained its lead, with the US Dollar Index (DXY) up around 0.37% near the 99.65 zone at the time of writing. Despite entering a data-light session ahead of the May 7 Federal Open Market Committee (FOMC) meeting, market...
Gold prices fell 2% on Friday and were on track for a weekly decline as the dollar strengthened and signs of easing U.S.-China trade tensions after a report that Beijing has exempted some U.S. goods from its tariffs weighed on bullion. Spot gold fell 1.7% to $3,292.99 an ounce by 1:39 a.m. EDT (1739 GMT), after dropping as much as 2% earlier in the session. Bullion was down 1.2% for the week. U.S. gold futures settled 1.5% lower at $3,298.40. "The apparent reduction in tariffs has had a negative impact on gold prices ... But so far we haven't seen any substantial liquidation," said TD...
Oil prices edged up on Friday but fell for the week, pressured by market expectations of a supply glut and uncertainty surrounding tariff talks between the U.S. and China. Brent crude settled 32 cents higher at $66.87 a barrel, bringing losses to 1.6% for the week. U.S. West Texas Intermediate crude rose 23 cents to $63.02 a barrel, marking a weekly decline of 2.6%. China exempted some U.S. imports from its high tariffs in a sign on Friday that the trade war between the world's top two economies may be easing, although Beijing quickly dismissed U.S. President Donald Trump's assertion that...
Gold declined more than 1% on Friday and was headed for a weekly fall as news that China has exempted some U.S. goods from its tariffs raised hopes of a de-escalation in trade tensions. Spot gold was down 1.5% at $3,296.19 an ounce as of 1136 GMT. It hit a record high earlier this week. U.S. gold futures shed 1.3% to $3,306.50. "Gold is facing challenges in sustaining its upward momentum as optimism around a potential U.S.-China trade agreement grows," said Zain Vawda, analyst at MarketPulse by OANDA. China has exempted some U.S. imports from its 125% tariffs and is asking firms to...
Oil prices fell Friday, on track for sharp weekly losses as expectations of increased OPEC+ supply and lingering uncertainty over U.S.-China tariff talks weighed on sentiment. At 08:10 ET (12:10 GMT), Brent Oil Futures expiring in June fell 1.2% to $65.70 per barrel, while West Texas Intermediate WTI crude futures dropped 1.2% to $62.06 per barrel. Both contracts were set to decline over 3% this week, having fallen more than 10% in April. Potential OPEC+ output hike weighs Several OPEC+ nations are pushing to accelerate oil output hikes in June, extending May's surprise boost, as...
EUR/USD trades lower around 1.1350 during European trading hours on Friday. The major currency pair weakens due to a recovery move in the US Dollar (USD) on hopes of an improvement in trade relations between the United States (US) and China. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, resumes its upside recovery on Friday after correcting to near 99.20 the previous day. The USD Index rises to near 99.65 and aims to break above the weekly high around 100.00. The confidence of financial market participants that the trade war between the world's...
The U.S. dollar rose Friday at the end of a volatile week, boosted by hopes for a degree of compromise in the trade war between the U.S. and China, the world's two largest economies. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, climbed 0.3% to 99.415, after a sharp rebound from a three-year low in the previous session. Dollar helped by potential trade compromise The dollar traded higher, helped by a Bloomberg report indicating that China's government is weighing the exemption of some U.S. goods from its 125% import...
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....