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...
Oil prices rose for a second session on Friday buoyed by potential de-escalation of the U.S.-China trade war, but the market was headed for a weekly decline of around 2% amid concerns about oversupply. Brent crude futures gained 31 cents to $66.85 a barrel by 0650 GMT, falling 1.7% so far for the week. U.S. West Texas Intermediate (WTI) crude rose 35 cents to $63.12 a barrel, having declined 2.4% for the week. "For today, oil prices are slightly up as the market responds to signs of easing tensions around Trump's tariffs and a potential shift in the Fed's policy stance, contributing to a...
Gold price (XAU/USD) recovers slightly from the daily low and climbs back above the $3,300 mark in the last hour, though it retains the negative bias through the first half of the European session on Friday. China's Foreign Ministry denied any ongoing negotiations with the US on tariffs, keeping a lid on the optimism in the markets and lending some support to the safe-haven precious metal. Apart from this, the protracted Russia-Ukraine war keeps the geopolitical risk premium in play and helps limit the downside for the bullion. Moreover, the prospects for a more aggressive policy easing by...
Silver prices slipped to around $33.30 per ounce on Friday, paring gains from earlier in the week as signs of easing in global trade tensions lifted the dollar, pressuring greenback-denominated commodities. The dollar strengthened as US President Donald Trump claimed that trade talks with China are ongoing, with additional signs of progress in negotiations with Japan and South Korea further boosting investor sentiment. China is also reportedly considering waiving its 125% tariff on certain US goods, raising hopes of further de-escalation in the trade war. Moreover, Trump made a u-turn on...
Oil prices rose for a second session on Friday buoyed by potential de-escalation of the U.S.-China trade war, but the market was headed for a weekly decline amid concerns about oversupply. Brent crude futures gained 43 cents to $66.98 a barrel by 0433 GMT, on track to fall 1.4% for the week. U.S. West Texas Intermediate (WTI) crude rose 42 cents to $63.21 a barrel but was set to decline 2.3% for the week. "For today, oil prices are slightly up as the market responds to signs of easing tensions around Trump's tariffs and a potential shift in the Fed's policy stance, contributing to a...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges higher to near 99.75 during the early European session on Friday amid positive developments in negotiations with allies India, Japan and South Korea. Investors brace for the final reading of the US Michigan Consumer Sentiment, which is due later on Friday. US Treasury Secretary Scott Bessent has suggested that India is likely to become the first country to finalise a bilateral trade agreement with the US to avoid Trump's reciprocal tariffs on Indian exports....
The Japanese Yen (JPY) continues losing ground through the Asian session on Friday and drops to a nearly two-week low against its American counterpart in the last hour. Hopes for the potential de-escalation of trade war between the US and China remain supportive of a positive risk tone, which, in turn, is seen denting demand for the safe-haven JPY. Adding to this, the emergence of some US Dollar (USD) buying lifts the USD/JPY pair further beyond mid-143.00s. Meanwhile, government data showed that consumer inflation in Tokyo Japan's capital city – accelerated sharply in April and reaffirms...
Gold price (XAU/USD) attracts some sellers following an uptick to the $3,370-3,371 area during the Asian session on Friday and reverses a part of the previous day's positive move. Hopes for a potential de-escalation of trade war between the US and China remain supportive of a positive risk tone, which, in turn, is seen undermining the safe-haven precious metal. Apart from this, the emergence of some US Dollar (USD) buying turns out to be another factor exerting downward pressure on the commodity. Meanwhile, Federal Reserve (Fed) officials showed willingness for potential interest rate cuts,...
Silver (XAG/USD) edges lower after testing the three-week top during the Asian session on Friday and currently trades around the mid-$33.00s, down 0.30% for the day. The technical setup, however, warrants caution before positioning for any meaningful depreciating move. This week's breakout above the $33.00 round figure, representing the top end of a multi-day-old range and the 61.8% Fibonacci retracement level of the March-April downfall, was seen as a key trigger for bullish traders. Moreover, oscillators on the daily chart have been gaining positive traction and are still far from being...
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....