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 US Dollar (USD) continues to face an intense selling pressure, with the US Dollar Index (DXY) sliding to near 99.50. The USD Index has extended its losing streak for the third trading day amid escalating trade war between the United States (US) and China. Last week, Donald Trump announced a 90-day pause on reciprocal tariffs on all of its trading partners, except China. The situation worsened after Trump raised reciprocal levies on China to 125% for imposing significant counter-tariffs on the US. The 90-day reciprocal tariff pause was a big relief for all associated nations, which led...
EUR/USD jumps to near 1.1400 in Monday's European session. The major currency pair aims to reclaim the over-three-year high of 1.1474, which it posted on Friday. The pair demonstrates sheer strength as the US Dollar (USD) continues to dive amid growing fears of United States (US) stagflation, a situation in which inflation increases, the economy deteriorates, and employment cools down. The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, sees more downside below the recent lows of 99.00. Financial market participants are anticipating US stagflation...
Oil prices edged higher on Monday after U.S. exclusions on some tariffs and Chinese data showing a sharp rebound in crude imports in March, but gains were capped by concerns that the trade war between the United States and China could weaken global economic growth and dent fuel demand. Brent crude futures rose by 8 cents, or 0.12%, to $64.84 a barrel by 0822 GMT. U.S. West Texas Intermediate crude was up 10 cents, or 0.16%, at $61.60. "The news about the exemptions on tariffs has helped lift sentiment across markets," said Harry Tchilinguirian, global head of research at Onyx Capital...
Gold price (XAU/USD) retreats after touching a fresh record high earlier this Monday and trades with a mild negative bias around the $3,220 area during the first half of the European session. A positive tone around the equity markets prompts some profit-taking around the precious metal amid slightly overbought conditions on the daily chart. Any meaningful corrective decline, however, still seems elusive in the wake of a sharp escalation in US-China trade tensions, which might continue to act as a tailwind for the safe-haven bullion. Meanwhile, investors now seem convinced that the Federal...
Silver prices dipped to around $32 per ounce on Monday, snapping a three-day rally as easing trade tensions reduced demand for safe-haven assets. The pullback followed US President Donald Trump's decision to exempt key technology products from his newly announced "reciprocal" tariffs, lifting global market sentiment. China's Commerce Ministry welcomed the exemptions as a "small step," while urging the US to fully remove the broader 145% levy on Chinese goods. Markets are now focused on upcoming trade negotiations between the US and major partners, including Japan, India, and South...
Oil steadied above a four-year low as traders weighed the latest U.S. moves in a trade war, as well as "constructive" talks between Washington and Tehran. Brent traded below $65 a barrel after a week of losses while West Texas Intermediate neared $62. While President Donald Trump paused tariffs on some electronics, he also indicated that specific tariffs would be announced in due course. Meanwhile, easing tensions with Iran could offer the prospect of increased supply. The weekend talks in Oman marked the first high-level engagement since 2022, and signaled renewed efforts to resolve a...
As U.S. President Donald Trump escalates his tariff war on the world, gold has been rallying alongside it to a series of record highs. The precious metal hit a new peak of $3,245.28 an ounce on April 11 and has gained 28% since bottoming out at $2,536.71 on Nov. 14, shortly after Trump's victory that returned him to the White House to begin his second term in January. In some ways, gold is doing what it's supposed to do. It's offering investors a safe haven from the chaos that has engulfed many financial markets since Trump's ill-fated "Liberation Day" tariff announcement on April 2. The...
The USD/CHF pair moved higher in early Asian trading on Monday (4/14), holding around the 0.8170 level after posting losses in the last two consecutive sessions. Market participants are eyeing the release of Swiss Producer and Import Prices for March, due later today. However, the USD/CHF pair's gains may be restrained as the Swiss Franc (CHF) continues to receive support from safe-haven demand amid escalating trade tensions between the United States and China. The renewed friction has rekindled fears of a global recession, prompting investors to move away from US assets. Late last week, a...
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....