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...
The dollar index rose above 99 on Wednesday, building on a 0.7% gain from the previous session, as concerns over the Federal Reserve's independence eased and hopes for a de-escalation in the trade war grew. President Trump stated he has no intention of dismissing Fed Chair Jerome Powell, alleviating fears of political interference in US monetary policy. He also signaled a softer stance toward China, saying he plans to be "very nice" in any trade negotiations. Meanwhile, Treasury Secretary Scott Bessent acknowledged that the tariff standoff with China is unsustainable and stressed the need...
Gold price (XAU/USD) attracts some sellers for the second straight day on Wednesday and extends the previous day's rejection slide from the $3,500 psychological mark or a fresh record high. US President Donald Trump's administration officials hinted at a potential de-escalation of the ongoing tariff dispute with China and fueled optimism about a trade deal. Adding to this Trump stepped back from his threats to dismiss Federal Reserve (Fed) Chair Jerome Powell. Furthermore, Russian President Vladimir Putin indicated he is open to the prospect of direct talks with his Ukrainian counterpart...
The GBP/USD pair remains weak near 1.3280 during the early Asian session on Wednesday. Comments by US Treasury Secretary Scott Bessent hint at a thaw in US-China trade tensions, fueling optimism in markets and strengthening the US Dollar (USD) against the Pound Sterling (GBP). Scott Bessent said on Tuesday that he expects a de-escalation in US President Donald Trump's trade war with China in the very near future. He further stated that the tariff standoff with China cannot be sustained by both sides and that the world's two largest economies will have to find ways to...
The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day. The US Dollar (USD) builds on the overnight bounce from the vicinity of a three-year low touched on Monday and turns out to be a key factor exerting downward pressure on the EUR/USD pair. That said, the weakening confidence in the US economy, along with the prospects for more aggressive policy...
AUD/USD attracts some dip-buyers to hold near 0.6400 in the Asian session on Wednesday. Hopes for a possible de-escalation in the US-China trade war boost investors' appetite for riskier assets and support the Aussie. Further, the pause in the US Dollar rebound also aids the pair's upside. the Australian Dollar (AUD) lost some upside traction, sending AUD/USD back toward the 0.6370 region despite the earlier advance to the area of yearly peaks around 0.6440. The late retracement in the pair came on the back of a pick-up in the buying interest around the US Dollar (USD) amid unabated jitters...
Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $32.70 per troy ounce during the Asian hours on Wednesday. However, prices of grey metal faced headwinds as investor optimism grew over the Federal Reserve's (Fed) independence. US President Donald Trump helped calm markets by clarifying he has no intention of removing Fed Chair Jerome Powell, stating, "The press runs away with things. No, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates." Market sentiment was further...
Oil prices extended gains in Asian trading on Wednesday as the U.S. imposed fresh sanctions on Iran amid ongoing nuclear talks, while investors assessed a weekly report showing a large decline in U.S. crude stockpiles. Market sentiment was further bolstered by U.S. President Donald Trump stepping back from earlier threats to dismiss Federal Reserve Chair Jerome Powell and expressing confidence in the country's trade relations As of 21:07 ET (01:07 GMT), Brent Oil Futures expiring in June rose 1% to $68.12 per barrel, while West Texas Intermediate (WTI) crude futures also advanced 1% to...
Gold price (XAU/USD) attracted dip-buyers in Asia on Wednesday, stalling its retreat from the $3,500 peak hit the day before. The attempted US Dollar (USD) recovery from a multi-year low faltered amid the weakening confidence in the US economy on the back of US President Donald Trump's back-and-forth tariff announcements. Apart from this, the prospects for more aggressive policy easing by the Federal Reserve (Fed) prompt some intraday USD selling and turn out to be a key factor that helps revive demand for the non-yielding yellow metal. Meanwhile, Trump administration officials hinted at a...
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....