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...
Silver (XAG/USD) price continues to show strength for the fifth straight session, trading around $32.30 per troy ounce during the Asian session on Tuesday (4/15). The daily chart technical analysis shows a developing bullish trend, with the grey metal moving up within an ascending channel pattern. Silver price remains above the nine-day and 50-day Exponential Moving Averages (EMA), indicating strong near-term momentum. Furthermore, the 14-day Relative Strength Index (RSI) is at the 50 level, reinforcing the active bullish bias. On the upside, the XAG/USD pair may target the upper boundary...
The GBP/USD pair attracted buyers for the sixth straight day and climbed above the 1.3200 mark, hitting a fresh high since October 2024 during the Asian session on Tuesday (4/15). Moreover, the bearish sentiment surrounding the US Dollar (USD) suggests that the path of least resistance for spot prices remains upwards. Investors remain concerned about the potential economic impact of the escalating US-China trade war. In fact, China increased its tariffs on US imports to 125% on Friday in retaliation for US President Donald Trump's decision to raise duties on Chinese goods to an...
EUR/USD continued to decline for the second straight session, trading near 1.1350 during Asian hours on Tuesday (4/15). The pair weakened as the US dollar (USD) tried to regain stability amid growing concerns over stagflation. Early on Tuesday, Atlanta Fed President Raphael Bostic commented that the Federal Reserve still has a long way to go to bring inflation down to its 2% target. His remarks dampened market expectations for further rate cuts in the near term. In a shift from its previous outlook, Deutsche Bank now anticipates a 25 basis point rate cut in December—the first cut forecast...
Oil prices edged up in Asian trade on Tuesday, helped by the prospect of a temporary halt to President Donald Trump's auto tariffs and a pick-up in Chinese crude imports, as markets eyed U.S.-Iran nuclear talks for clues on the demand outlook. At 10:05 p.m. ET (02:05 GMT), Brent crude futures expiring in June were up 0.2% at $65.02 a barrel, while West Texas Intermediate crude futures rose 0.3% to $61.25 a barrel. Both contracts closed little changed on Monday and remained near four-year lows hit last week. "The market is digesting fast-moving policy developments on the tariff front,...
Gold gained on Tuesday amid continued uncertainty over US President Donald Trump's tariff plans and their impact on the global economy. Spot gold was up 0.4% at $3,221.70 an ounce, as of 0245 GMT. Bullion hit a record high of $3,245.42 on Monday. US gold futures were up 0.4% at $3,237.60. "Gold continues to strengthen today… on continued investor demand for defensive assets to reduce portfolio volatility as the US appears to be setting the stage for more tariffs to come," said IG market strategist Yeap Jun Rong. The US is continuing its probe into pharmaceutical and semiconductor imports...
The dollar was steady on Tuesday but remained close to a three-year low against the euro and a six-month low versus the yen hit last week as investors struggled to make sense of a flurry of U.S. tariffs. However, currency markets were much calmer in early Asian hours after last week's turmoil that hit the dollar hard despite a surge in Treasury yields, highlighting shaky investor confidence in the greenback and U.S. assets. The dollar was up 0.27% at 143.53 yen but remained close to a six-month low of 142.05 hit on Friday. The euro was down 0.22% at $1.1324, just below a three-year high of...
The Japanese Yen (JPY) moved lower during the Asian session on Tuesday (4/15), which, along with a modest uptick in the US Dollar (USD), lifted the USD/JPY pair closer to the mid-143.00s. US President Donald Trump's suspension of tariffs on major consumer electronics and hints that he may temporarily exempt the auto industry from the 25% levy remained supportive of the upbeat market mood. This, in turn, was seen denting demand for traditional safe-haven assets, including the JPY. However, the rapidly escalating US-China trade war and persistent concerns about the potential economic impact...
The Australian Dollar (AUD) strengthened for the fifth straight session against the US Dollar (USD) on Tuesday (15/4). The AUD/USD pair continued to gain momentum after US President Donald Trump exempted key technology products from his new "reciprocal" tariffs, boosting global risk sentiment. The exemptions covered goods largely manufactured in China—such as smartphones, computers, semiconductors, solar cells, and flat-panel displays—which provided a boost to the AUD, as China remains Australia's largest trading partner and a major consumer of its commodities. The minutes from the Reserve...
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....