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 Gold price (XAU/USD) holds positive ground around $3,215 after hitting an all-time high of $3,219 during the Asian trading hours on Friday. The weakening of the US Dollar (USD) and escalating trade war between the United States (US) and China provides some support to the precious metal, a traditional safe haven asset. Data released by the US Bureau of Labor Statistics (BLS) on Thursday revealed that US consumer prices unexpectedly fell in March, but inflation risks are tilted to the upside after US President Donald Trump doubled down on China tariffs. The US CPI inflation eased to 2.4%...
Gold rose to a new record high as concerns about the impact of tariffs on the global economy drove investors to safe havens. Bullion edged higher in early Asian trade on Friday to above $3,190 an ounce. That surpassed a previous record set in the previous session, when it closed more than 3% higher for a second straight day. Gold's safe-haven status has been underscored this week, with President Donald Trump's fluctuating messaging on his tariff agenda triggering panic selling in stocks, bonds and the U.S. dollar, as fears of a global recession hit Wall Street. Risks and uncertainty remain...
The US Dollar Index (DXY) traded near the 101 area on Thursday (10/4), continuing to decline after failing to maintain the recovery momentum from the beginning of the week. This movement occurred as new tariff measures confirmed by the White House raised the effective tariff on Chinese imports to 145%. Federal Reserve (Fed) officials, including President Jeff Schmid and Lorie Logan, warned that this trade action risks worsening inflation and labor market dynamics. On the technical side, the MACD continues to signal selling pressure, while the Relative Strength Index hovers just above the...
The Australian dollar (AUD) continued its rally on Thursday (10/4), climbing towards the 0.6240 zone during the American session. The currency pair built on its recent strength as the US Dollar Index (DXY) slumped further towards multi-month lows near the 101 area. The move came after the market digested the White House's confirmation of a 145% tariff on Chinese goods, combined with the Federal Reserve's (Fed) cautious tone. Despite the greenback's decline, the technical backdrop for AUD/USD remains tilted to the downside, with several key indicators continuing to flash bearish signals,...
Oil prices fell more than $2 a barrel on Thursday, erasing the last session's rally, as investors reassessed a planned pause in broad U.S. tariffs and turned their attention to the deepening trade war between Washington and Beijing. U.S. West Texas Intermediate crude fell $2.28, or 3.7%, to settle at $60.07 a barrel. Brent crude fell $2.15, or 3.3%, to settle at $63.33 a barrel. Both contracts had risen more than $2 a barrel on Wednesday after U.S. President Donald Trump halted the heavy tariffs he had announced on dozens of U.S. trading partners a week ago, marking an abrupt change of...
Gold prices surged above $3,172 an ounce on Thursday, hitting a new record high, as a weaker dollar and escalating trade tensions between the U.S. and China boosted demand for the safe-haven metal. The surge followed President Trump's decision to raise tariffs on Chinese goods to 125%, up from 104%, even as he temporarily eased duties on other countries. The dollar index fell more than 1%, making gold more affordable for buyers using other currencies. Meanwhile, U.S. consumer prices unexpectedly fell in March, but inflation concerns remained high amid the new tariffs. As a result, traders...
Gold prices rose more than 1% on Thursday, extending the previous session's sharp gains, as a weaker dollar and escalating trade tensions between the US and China prompted investors to turn to the safe-haven appeal of the precious metal. Spot gold rose 1.6% to $3,132.29 an ounce by 9:29 a.m. ET (1329 GMT), after rising more than 3% on Wednesday. US gold futures rose 2.3% to $3,150.20. US President Donald Trump said on Wednesday he would temporarily lower tariffs on dozens of countries, but raised tariffs on China to 125% from 104%. "Gold is regaining its appeal as a safe haven and is back...
Oil extended a volatile run as investors assessed abrupt shifts in US trade policy, with futures returning to losses following a relief rally on Wednesday. Brent fell near $64 a barrel after a choppy session that saw prices hit a four-year low before ultimately posting the biggest one-day gain since October. With markets in turmoil, President Donald Trump announced a 90-day halt on higher tariffs against dozens of nations, but he also raised duties on China to 125%. "With a lot of uncertainty still existing, the prospect for a major rebound in crude is not...
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....