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...
Gold prices keep their upside impulse well in place and hit an all-time peak just below the $3,330 mark per troy ounce on Wednesday. Further gains in the precious metal come from a weaker US Dollar, unabated uncertainty surrounding United States (US) tariffs and declining US yields across the curve. Source: Fxstreet
Oil prices rose around 1% on Wednesday, as the market drew some strength from the possibility of trade talks between China and the United States and a report that Iraq will cut oil production in April Brent crude futures rose 70 cents, or 1.08%, to $65.37 a barrel by 1311 GMT while U.S. West Texas Intermediate crude was also up 70 cents, or 1.14%, at $62.03. Prices rose after a Bloomberg report quoted an anonymous source as saying that China wants more respect from the Trump administration before it will agree to talks, analysts said. The source was also quoted as saying China wanted the...
Gold prices extended their surge to cross $3,310 per ounce on Wednesday, another record high, as the increasing unpredictability regarding US trade policy and low demand for the US dollar and Treasury securities left gold as one of the main safe-haven assets in the market. US President Trump launched a probe to place new tariffs on critical minerals, escalating the trade war with China shortly after concessions on autos and electronics. The move extended ongoing probes on copper, pharmaceuticals, lumber, and semiconductors, increasing the range of tariffs on key goods that the US has...
The dollar index fell to the 99.5 mark on Wednesday, resuming its slide this month to the lowest in three years as aggressive tariffs by President Trump pressured the outlook on US growth. The President launched a probe into placing tariffs on critical minerals, potentially escalating the trade war with China shortly after concessions on autos and electronics had halted the selloff in dollar-denominated assets. Besides potential tariffs on critical minerals, the White House also maintained tariff threats on copper, pharmaceuticals, and semiconductors. The unpredictability of trade...
Oil prices rose 1% on Wednesday, reversing early losses as the market took a bullish view on China's stance on potential trade talks with the United States, though gains were capped by continuing fears that the trade war will curb energy demand. Brent crude futures rose 64 cents to $65.31 a barrel by 0937 GMT while U.S. West Texas Intermediate crude rose 62 cents to $61.95. Prices declined in early trading but analysts said momentum shifted after a Bloomberg report quoted an anonymous source as saying that China wants more respect from the Trump administration before it will agree to...
Gold prices surpassed the $3,300 mark for the first time on Wednesday, as investors sought safe-haven assets after U.S. President Donald Trump ordered a probe into potential new tariffs on U.S. critical mineral imports. Spot gold was up 2.3% to $3,301.78 an ounce as of 1018 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.4% to $3,317.70. "Trump's trade war shows no signs of easing... sparking a fresh move towards safe havens and out of stocks," said Ole Hansen, head of commodity strategy at Saxo Bank. Trump's probe, announced on Tuesday, is...
The dollar fell on continued concerns about the U.S. economic impact of President Trump's tariffs. "Questions are being raised about the U.S.'s exceptionalism and credibility as a reserve currency," Jefferies economist Mohit Kumar said in a note. In the medium term, tariffs could reduce U.S. reliability and investors will look for alternative destinations, he said. The era of a strong dollar has peaked and the currency is likely to face further weakness, he said. Gold prices could benefit as central banks look to diversify away from the dollar. The DXY dollar index fell 0.7% to 99.4730....
Oil prices fell about 1% on Wednesday, as a U.S. tariff policy change fueled uncertainty, prompting traders to weigh the potential impact of the U.S.-China trade war on economic growth and energy demand. Brent crude was down 66 cents, or 1.0%, at $64.01 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude was down 69 cents, or 1.1%, at $60.64. Both benchmarks fell 0.3% on Tuesday. Global oil demand is expected to grow at its slowest rate in five years in 2025 and U.S. production growth is also set to ease, due to U.S. President Donald Trump's tariffs on trading partners and their...
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....