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 fell slightly from a record as markets digested the latest U.S. trade news from President Donald Trump, who has turned to safe havens amid growing confusion over his tariff agenda. Bullion fell as much as 0.8% in early trading on Monday — following a more than 6% gain last week that saw it trade above $3,245 an ounce for the first time. The decline came after a modest reprieve for the dollar from its recent rout, following a U.S. pause on reciprocal tariffs on smartphones, computers and other electronics. However, the recovery stalled after Trump on Sunday signaled separate duties on...
The US dollar index (DXY) continued its slide on Friday, falling near the 100 area after hitting a fresh three-year low earlier in the day. The downtrend reflects a broad decline in investor confidence as fresh data and central bank comments paint a grim picture for the US economy. The University of Michigan sentiment index fell in April, while the Producer Price Index came in below estimates, adding to market fears of disinflation. Several Federal Reserve officials have flagged rising inflation expectations as a risk, even as near-term economic data hints at weakening demand. Technically,...
WTI crude prices rose 2.4% to settle at $61.50 a barrel on Friday, after U.S. Energy Secretary Chris Wright hinted the U.S. may block Iranian oil exports in a bid to pressure Tehran over its nuclear program. However, concerns over the U.S.-China trade dispute continue to weigh on demand expectations. China announced a sharp increase in tariffs on U.S. goods to 125%, while the White House confirmed total U.S. tariffs on Chinese imports now stand at 145%. In response, the U.S. Energy Information Administration cut its global oil demand forecast, warning that prolonged trade tensions could hurt...
Gold prices continued their rally for the third straight day on Friday (11/4) with the yellow metal hitting a new all-time high of $3,245. The gain of over 2% was recorded amid the escalating trade war between the US and China and its impact on the global economy. At the time of writing, XAU/USD was trading at $3,233. During the North American session, China imposed 125% tariffs on the US in retaliation for US President Donald Trump's decision to raise its import duties to 145% on Chinese products. Hence, investors seeking safety pushed the Bullion prices higher, driven by a weaker...
Oil prices were heading for their second straight weekly fall on Friday against a backdrop of investor concern over recession sparked by the burgeoning trade war between the United States and China. Brent crude futures were down 25 cents on the day, or 0.39%, at $63.08 a barrel by 1312 GMT while U.S. West Texas Intermediate crude fell 30 cents, or 0.50%, to $59.77. Brent and WTI are poised to register weekly declines of 3.8% and 3.5%, respectively, having both lost about 11% last week. Brent dipped below $60 a barrel at one point this week for its lowest since February 2021. "China's...
Gold traded at a fresh record high early on Friday as the dollar continued to plunge amid an escalating tariff between the United States and China, while another U.S. inflation measure weakened last month. Gold for June delivery was last seen up US$69.30 to US$3,246.80 per ounce, rising off Thursday's record close of US$3,177.50. The rise comes as investors seek a safe haven with China and the United States continuing a tariff battle. China on Friday hiked its tariff on U.S. imports to 125%, a day after U.S. President Donald Trump raised levies on Chinese goods to 145%. The heightened...
The U.S. dollar slumped further Friday, falling to an almost two-year low, on weakening confidence in the American economy as the trade war between the two largest economies in the world escalated, with China once more raising the tariffs on U.S. goods. At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, dropped 1.2% to 99.430, falling below the 100 level for the first time since July 2023. Dollar slumps to near two-year low U.S. President Donald Trump's pausing of widespread tariffs for 90 days helped the dollar, and global...
Oil prices rise in early trade on a softer U.S. dollar, but are still on course for a weekly loss as traders worry President Trump's trade war with China will weigh on global economic growth. Brent crude is up 1.4% at $64.18 a barrel, while WTI rises 1.4% to $60.93 a barrel. The dollar index--which measures the greenback against a half-dozen currencies--fell below 100, making commodities cheaper for holders of other currencies. Still, the crude benchmarks are poised to drop for a second straight week after Trump said tariffs on China add up to 145%, further raising concerns over 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....