Gold (XAU/USD) started the week on a stronger note, extending its five-day rally to reach its highest level in more than four months, last seen on April 22. A generally weaker US dollar and strong expectations for a Federal Reserve (Fed) interest rate cut in September continued to support gold's momentum. At the time of writing, XAU/USD was consolidating around $3,477 in the American session, after hitting an intraday high of $3,490 during Asian hours—just shy of its all-time peak of $3,500. Mild technical selling and stable US Treasury yields weighed on sentiment, while trading...
The dollar index climbed above 98.2 on Tuesday, extending the previous session's gains as investors focused on a pivotal summit between President Donald Trump and European leaders aimed at ending the war in Ukraine. During the talks, Trump discussed potential security guarantees for Kyiv and announced follow-up meetings involving Russian and Ukrainian leaders, which he will later on attend. Ukrainian President Volodymyr Zelenskiy said Ukraine has offered to purchase about $90 billion worth of US weapons as part of the guarantees, with details expected to be finalized within ten days. On...
Oil markets were in focus following President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy, as traders weighed the potential implications for regional stability and energy flows. Crude oil held steady after Monday's gain, as Trump said he began arranging a meeting between Russian President Vladimir Putin and Zelenskiy. Asian stocks may struggle for direction at the open after the S&P 500 closed little changed. The yield on 10-year Treasuries rose two basis points on Monday, while the Bloomberg Dollar Spot...
Gold consolidates in early Asian trade ahead of the Jackson Hole economic symposium later this week. Traders await any further signals that Fed rate cuts are imminent, ANZ Research analysts say in a research report. This may happen at the symposium, where Fed Chair Powell is expected to set the scene for rate cuts as soon as September, the analysts say. However, a stronger USD has tempered investor demand while easing geopolitical tensions have weighed on safe-haven-related buying, they add. Spot gold is little changed at $3,331.89/oz. Source: Bloomberg
GBP/USD saw a softer start to the new trading week, easing back around four-tenths of one percent through the opening market sessions. The US Dollar (USD) pared some of last week's overall losses, trimming near-term gains for the Pound Sterling (GBP) on Monday. The week starts on a quiet note, with little of note on the data docket. That all changes on Wednesday, with a fresh salvo of key economic data from the United Kingdom (UK) and the start of this year's Jackson Hole Economic Symposium hosted by the Federal Reserve (Fed) Bank of Kansas. UK Consumer Price Index (CPI) inflation figures...
EUR/USD begins the week on a lower note, down 0.30% as traders await the outcome of the meeting between US President Donald Trump and Ukraine's Volodymyr Zelenskiy, after the former met with his Russian counterpart Vladimir Putin last Friday. The pair trades at 1.1669 after hitting a daily high of 1.1715. Positive news emerged from the meeting between Trump, Zelensky, and European leaders in the White House. Trump said that the day has been successful so far as Russia agreed to security guarantees, though in exchange for some territory. He answered German Chancellor Merz's demands about a...
Oil prices settled 1% higher on Monday after talks between U.S. President Donald Trump and his Ukrainian counterpart in the wake of an inconclusive U.S.-Russia summit in Alaska on Friday. Brent crude futures settled 75 cents, or 1.14%, higher at $66.60 a barrel. U.S. West Texas Intermediate crude gained about 62 cents, or 0.99%, to $63.42. Last week, Brent eased by 1.1% while WTI dropped 1.7%. Trump and Ukrainian President Volodymyr Zelenskiy met on Monday at the White House to discuss a path to ending Russia's war in Ukraine. Speaking to reporters in the Oval Office with Zelenskiy...
The Australian Dollar (AUD) is losing ground against its US counterpart to kick off the week, with the AUD/USD pair slipping below the 0.6500 mark during the New York session on Monday. The move reflects a firmer US Dollar (USD), supported by rising Treasury yields and cautious market sentiment as a high-stakes meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy gets underway in Washington. The US Dollar Index (DXY), tracking the Greenback against a basket of major currencies, is trading near 98.14, recovering modestly after hitting a near two‑week low last...
Gold (XAU/USD) kicks off the week on a volatile note, staging a sharp intraday recovery after briefly dipping to an 11-day low near $3,323 during early Monday trade. The rebound appears to be driven by renewed safe-haven demand amid geopolitical uncertainties surrounding the Russia-Ukraine peace talks, after the weekend summit between US President Donald Trump and Russian President Vladimir Putin failed to deliver a breakthrough. At the time of writing, the precious metal is trading around $3,348 during the European session, up 0.36% on the day. Despite the sharp intraday rebound, price...
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....