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) regained some ground after a modest decline the previous day as trade-related uncertainties kept investors on the sidelines and continued to favor traditional safe-haven assets. Additionally, data released today showed that Japan's core machine orders rose sharply in February, beating market expectations. This, coupled with hopes that Japan will reach a trade deal with the US and growing acceptance that the Bank of Japan (BOJ) will continue to raise interest rates in 2025, turned out to be another factor supporting the JPY. Meanwhile, the hawkish BOJ expectations...
Oil steadied after a modest decline on Tuesday as expectations of a supply glut and a trade war between the world's two largest economies weighed on the demand outlook. West Texas Intermediate crude futures were trading above $61 a barrel, with Brent crude closing near $65 in the previous session. The International Energy Agency on Tuesday cut its forecast for global oil consumption this year and next as trade tensions escalated. The supply build is likely to be more than enough to meet consumption, it said in a monthly report. Crude prices remain near four-year lows, after a sharp drop...
Gold prices ended Tuesday's session on a higher note as traders bought the precious metal amid uncertainty over US President Donald Trump's tariff plans, which have kept market participants on edge. XAU/USD was trading at $3,240 per troy ounce, up more than 6.50%. The precious metal rose sharply towards the end of the New York session on Tuesday as US Treasury yields continued to fall for a second straight day. Concerns that US President Trump will start imposing tariffs on pharmaceuticals soured the market mood. Keeping the trade war in the air, China ordered its domestic airlines to halt...
The Australian Dollar (AUD/USD) gave up its earlier strength on Tuesday, falling from session highs near 0.6340 to trade closer to the 0.6280 area during North American hours. The reversal came as the US Dollar Index (DXY) attempted a modest bounce off its three-year low near the 99.00 mark. This shift in tone followed remarks from US officials suggesting reduced recession risks and progress on trade negotiations with Europe, though concerns remain over the unresolved US-China tariff fight.USD sentiment fluctuates on mixed economic signalsKevin Hassett from the US National Economic Council...
Oil prices were little changed on Tuesday as investors digested the latest headlines on U.S. President Donald Trump's on-again, off-again tariffs and tried to figure how much the U.S.-China trade war could reduce global economic growth and oil demand. Brent crude futures fell 21 cents, or 0.3%, to settle at $64.67 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 20 cents, or 0.3%, to settle at $61.33. Vacillating U.S. trade policies have created uncertainty for global oil markets and prompted the Organization of the Petroleum Exporting Countries to lower its demand outlook...
Sterling rallies despite unchanged UK unemployment at 4.4% as strong wage growth complicates BoE's easing path.The US Dollar Index drops over 5% in three weeks as safe-haven demand fades and tariff risks grow.UK inflation data and Powell's speech are in focus; the UK remains exempt from US tariffs for now.The Pound Sterling (GBP) rose and refreshed six-month highs against the US Dollar (USD) on Tuesday as the financial markets' narrative remains linked to the US imposing tariffs. Cable shrugged off soft United Kingdom (UK) jobs data; hence, GBP/USD rallied 0.36% and is trading at...
The US Dollar (USD) gains temporary ground after stabilizing near its recent lows, with the US Dollar Index (DXY) rebounding from its three-year low of 99.00 to 100.00 during North American trading hours on Tuesday.However, the recovery move could be short-lived as financial market participants remain concerned over United States (US) President Donald Trump's erratic tariff announcements, which have led them to doubt the structural attractiveness of the US Dollar. Analysts at Commerzbank said, "With every U-turn in Trump's 'dealmaking', the US president destroys further planning security...
Oil prices fell Tuesday after the International Energy Agency cut its oil demand forecast, although losses have been curbed by a potential pause of U.S. tariffs on the auto sector. At 09:00 ET (13:00 GMT), Brent Oil Futures expiring in June slipped 0.8% to $64.37 per barrel, and West Texas Intermediate WTI crude futures dropped 0.8% to $61.04 per barrel. IEA cuts global oil demand growth The IEA cut its forecasts earlier Tuesday for global oil demand growth to 730,000 barrels per day (bpd) this year from 1.03 million bpd, and to 690,000 bpd next year, citing escalating trade tensions. On...
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....