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 Japanese Yen (JPY) drifts lower against its American counterpart for the second successive day on Wednesday and retreats further from a multi-month peak touched the previous day. Upbeat comments from Trump administration officials about US-China trade talks trigger a sharp recovery in the global risk sentiment, which, in turn, weighs heavily on traditional safe-haven assets, including the JPY. Moreover, some follow-through US Dollar (USD) recovery from a multi-year low, bolstered by easing fears about the Federal Reserve's (Fed) independence, pushed the USD/JPY pair to a one-week high –...
The dollar index held around 99.5 on Wednesday after surging more than 1% in the previous session, underpinned by hopes of de-escalation in the US-China trade war and easing concerns about the Federal Reserve's independence. Treasury Secretary Scott Bessent said Tuesday that the current tariff standoff with China is "unsustainable" and emphasized that the Trump administration is not seeking to decouple the two economies. Later that day, President Trump confirmed he has no plans to remove Fed Chair Jerome Powell, helping to ease investor uncertainty. The White House's efforts to reassure...
Gold prices drop as Wednesday's Asian session begins, which is sponsored by Trump's comments that he is not looking to fire Fed Chair Jerome Powell. At the time of writing, XAU/USD plunges over 1% and trades at $3,333. Recently, US President Donald Trump said that he had no intention of firing Powell. He said, "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." Earlier news from the United States (US) Treasury Secretary Scott Bessent revealed that he saw a de-escalation with...
Gold fell in early Asian trade on signs of easing U.S.-China tensions that usually reduce the precious metal's appeal as a safe haven. President Donald Trump appeared to soften his stance on his trade war with China on Tuesday, saying the U.S.'s 145% tariffs on Chinese imports would be reduced "substantially" once the two sides negotiate a deal. Additionally, gold has started to fall, likely on profit-taking, Fawad Razaqzada, market analyst at City Index and FOREX.com, said in an email. From a technical analysis perspective, there is support at the $3,300/oz level, Razaqzada added. Spot gold...
The USD/JPY pair struggled to regain ground on Tuesday, trading around the 142.00 mark during North American hours after bouncing off earlier lows near 140.65. The pair's modest rebound came as markets stabilized but its gains remained capped amid lingering concerns over the Federal Reserve's autonomy. President Donald Trump's continued attacks on Fed Chair Jerome Powell—whom he called a "big loser"—have shaken confidence in the greenback's credibility. White House officials have acknowledged that the administration is exploring legal avenues to remove Powell, adding to market jitters. The...
Oil prices rose more than $1 a barrel on Tuesday as fresh U.S. sanctions on Iran and a rally in equities helped fuel a recovery rally from the previous session's sharp selloff. Brent crude rose $1.18, or 1.8%, to settle at $67.44 a barrel. The U.S. West Texas Intermediate crude contract for May, which expires on Tuesday, rose $1.23, or 2%, to settle at $64.32. The more actively traded June WTI contract also rose 2% to settle at $63.47. The U.S. on Tuesday imposed new sanctions targeting the liquefied petroleum gas kingpin and Iran's crude oil shipments and its network of companies....
Gold prices fell after hitting a record high of $3,500, but traders booking profits and improving risk appetite sent Bullion lower, despite falling US Treasury yields. At the time of writing, XAU/USD was hovering near $3,400, down more than 0.63%. The latest news from US Treasury Secretary Scott Bessent, who said he sees a de-escalation with China, boosted market sentiment, which has been a drag on Bullion prices. Since the headline, the yellow metal has fallen $50 from around $3,420 to $3,370. However, uncertainty about US trade policy and President Donald Trump's attacks on the Federal...
Gold extended its record run on Tuesday, breaching $3,500 per ounce, as weakness in the dollar, U.S. President Donald Trump's attacks on the Federal Reserve and trade war fears boosted demand for the safe-haven asset. Spot gold was up 0.5% at $3,440.51 an ounce by 09:21 a.m. EDT (1321 GMT), after rising as much as 2.2% to $3,500.05 earlier in the session. U.S. gold futures climbed 0.9% to $3,454.60. "Gold is continuing to find buyers on any short-term dips, and it is really difficult to say how much further it can go. Momentum is clearly strong, which is discouraging investors or traders...
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....