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 futures rise close to all-time records on strong safe-haven demand. Futures are up 0.4% at $3,238.40 a troy ounce, close to Friday's record high of $3,263/oz. The precious metal has also gained on reports of the Czech central bank further boosting holdings, alongside the Chinese central bank's higher gold import quotas for commercial banks. With central banks keeping up gold purchases, a continuation of the support seen throughout 2024, the precious metal's next leg higher is being supported by incremental purchases from the investment community, SP Angel analysts say in a note. ETF...
The AUD/USD pair extends its winnings streak for the fifth trading day on Tuesday and revisits the monthly high of 0.6380. The Aussie pair performs strongly in the last few trading days even though the intensifying trade war between the United States (US) and China has dampened the outlook of the Australian economy. Historically, the Australian Dollar (AUD) underperforms when the economic outlook of China deteriorates, given the high dependence of the Australian economy on its exports to the Asian giant. US President Donald Trump has declared a 90-day pause on the execution of reciprocal...
Oil prices inched down on Tuesday after the International Energy Agency followed OPEC in slashing its oil demand forecast, though price falls were limited by U.S. President Donald Trump's suggestion of some new tariff exemptions. Brent crude futures were down 50 cents, or 0.8%, at $64.38 per barrel by 1005 GMT. U.S. West Texas Intermediate crude also dipped 50 cents, or 0.8%, to $61.03 a barrel. Vacillating U.S. trade policies have created uncertainty for global oil markets and prompted OPEC on Monday to lower its demand outlook. The IEA also cut its forecasts on Tuesday for global oil...
Gold prices rose on Tuesday, as investors turned to the safe-haven asset amid continued uncertainty surrounding U.S. President Donald Trump's tariff plans, which could heighten an ongoing trade war and slow global economic growth. Spot gold was up 0.7% at $3,230.48 an ounce, as of 0815 GMT. Bullion hit a record high of $3,245.42 on Monday. U.S. gold futures rose 0.6% to $3,245.70. "The environment remains supportive for higher gold prices, but the journey towards higher prices will not be a straight line, there will likely be some temporary setbacks," said UBS analyst Giovanni...
The dollar held steady on Tuesday, trading near a three-year low against the euro and a six-month trough against the yen, as investors trying to make sense of the constant changes to President Donald Trump'stariffs remained wary of U.S. assets. Much of the volatility that hit the dollar last week and sent Treasury yields soaring appeared to have abated somewhat on Tuesday, although investor sentiment was still fragile. The euro , which has been one of the biggest beneficiaries of this month's dumping of U.S. assets, was a touch weaker on the day at $1.1336, narrowly below last week's...
The pound rose above $1.32, a six-month high, as markets responded to easing trade fears and shifting Bank of England (BoE) expectations. Hopes that Trump might delay auto tariffs helped UK exporters, especially car parts makers reliant on US trade, lifting sentiment for sterling. On the other hand, the BoE is seen as likely to cut rates soon — with markets nearly fully pricing in a rate cut in May — as UK firms shed jobs ahead of tax hikes and higher wage costs. While private-sector wage growth remains high at 5.9%, employment fell sharply in March, hinting at economic weakness. A...
Oil prices rose after a sluggish session on Monday, with traders monitoring the latest U.S. moves in the trade war and the prospect of easing curbs on Iranian crude. Brent traded around $65 a barrel after rising 0.2% on Monday, while West Texas Intermediate held near $62. Wall Street regained some calm on Monday, with stocks and bonds gaining after a tumultuous week amid President Donald Trump's disruptive tariff policies. "Macro sentiment has stabilized for now, and crude oil is on a slow path to recovery," said Huang Wanzhe, an analyst at Dadi Futures. "With the first wave of ‘tariff...
Gold prices fell slightly in Asian trade on Tuesday, but remained near recent peaks as safe-haven demand remained buoyed by uncertainty over U.S. plans for trade tariffs. Gold prices have fallen in recent sessions as exemptions for electronics imports from high U.S. tariffs on China helped boost some risk sentiment. President Donald Trump on Monday also flagged the possibility of more exemptions. But Trump's 145% tariffs on China, coupled with Beijing's 125% tariffs, have largely remained in place, signaling a bitter trade war between the world's largest economies. The idea has kept gold...
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....