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...
USD/CHF edged lower during Asian trading hours on Friday (4/18), hovering around 0.8180, after posting gains in the previous session. The currency pair came under pressure as the US dollar weakened amid growing concerns over the economic impact of US tariffs. Market activity remained subdued due to the Good Friday holiday. Federal Reserve Chairman Jerome Powell warned that persistent inflation coupled with a slowing economy could jeopardize the Fed's dual mandate, raising the specter of stagflation. Sentiment was further dented after former President Trump criticized Powell's recent...
West Texas Intermediate (WTI), the US crude benchmark, was trading around $63.50 during the Asian session on Friday (4/18). WTI prices rose to a two-week high amid hopes for a trade deal between the United States and the European Union and new US sanctions on Iran. Trading volumes are likely to be light on Good Friday. US President Donald Trump and Italian Prime Minister Giorgia Meloni met in Washington, signaling hopes for a resolution to the trade dispute that has strained US-European relations. "We're not going to have much trouble making a deal with Europe or anybody else, because we...
Gold prices (XAU/USD) held steady on Friday (4/18) after falling from an all-time high of $3,358 as investors booked profits during the long Easter holiday. Significant uncertainty over US President Donald Trump's tariffs on imports into the US and ongoing geopolitical tensions could support gold prices, which are known as safe-haven assets. On the other hand, Federal Reserve (Fed) Chairman Jerome Powell was hawkish, reducing the chances of a Fed rate cut in June. This, in turn, could lift the Greenback and weigh on USD-denominated commodity prices. Powell said that a weak economy and high...
The EUR/USD pair attracted some buyers near 1.1370 during the early Asian session on Friday (4/18). Concerns over the economic impact of tariffs continued to drag the US Dollar (USD) lower against the Euro (EUR). Traders will be closely monitoring developments surrounding the US trade talks. Trading volumes are likely to be thin on Good Friday. The European Central Bank (ECB) cut interest rates for the third time this year on Thursday, bringing its main rate to 2.25% in response to slowing growth and US President Donald Trump's tariffs. ECB President Christine Lagarde said during a press...
Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal between the United States and the European Union and new U.S. sanctions to curb Iranian oil exports, which continued to elevate supply concerns. Brent crude futures settled $2.11, or 3.2%, higher to $67.96 a barrel, and U.S. West Texas Intermediate crude gained $2.21, or 3.54%, at $64.68 a barrel. For the week, both Brent and WTI gained about 5%, their first weekly gain in three weeks. Thursday is the last settlement day of the week ahead of the Easter holidays and trade volumes are expected to be...
Gold eased off a record high mid-afternoon on Thursday but stayed above the US$3,300 mark as U.S. President Donald Trump's tariff threats continue to support safe-haven demand. Gold for June delivery was last seen down US$18.10 to US$3,328.30 per ounce after closing at a record US$3,346.40 on Wednesday. The price of the metal has climbed 26% since the start of the year as the U.S. tariff battles threaten to slow global growth while roiling global trade flows, sending investors to gold as a store of value. The World Trade Organization on Wednesday lowered its forecast for 2025 global trade...
Gold prices eased on Thursday after a sharp rise in the previous session as investors booked profits ahead of a long weekend, although softer dollar and escalating U.S.-China trade tensions kept bullion above the $3,300 per ounce level. Spot gold slipped 0.5% to $3,326.51 an ounce as of 08:58 a.m. ET (1258 GMT), after touching a record high of $3,357.40 earlier in the session. Bullion has gained nearly 3% this week. U.S. gold futures were down 0.2% at $3,339.90. "Gold may have a short-term pullback given its spectacular surge this week and ahead of a rare long weekend in the markets,"...
Oil rose for a second day after the Trump administration again vowed to reduce Iran's energy exports to zero, while talks between the US and Japan stirred optimism that agreements on trade can be reached. Brent crude climbed above $66 a barrel after advancing almost 2% on Wednesday, putting futures on track for their first weekly gain this month. Treasury Secretary Scott Bessent said the US would apply maximum pressure to disrupt Iran's oil supply chain, as his department sanctioned a second Chinese refinery accused of handling crude from the Islamic Republic. The...
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....