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 price (XAU/USD) regains positive traction following the previous day's failed attempt to surpass the $3,022-3,023 hurdle and retakes the $3,000 psychological mark during the Asian session on Wednesday. Persistent worries about escalating trade tensions and fears of a recession continue to prompt investors to take refuge in the traditional safe-haven bullion. Apart from this, bets for multiple rate cuts by the Federal Reserve (Fed) this year and some follow-through US Dollar (USD) selling for the second straight day turn out to be key factors that underpin the non-yielding yellow...
The Silver price (XAG/USD) recovers some lost ground to around $29.85 during the Asian trading hours on Wednesday. Analysts believe the recent correction could be a setup for a strong rebound amid rising trade tensions and recession fears. Traders brace for the FOMC Minutes, which are due later on Wednesday. US President Donald Trump said late Tuesday that he wasn't considering a pause on his plan to impose sweeping additional tariffs on dozens of countries despite contact from trade partners seeking to avoid the levies. However, he hinted that he could be open to some...
The euro gained on Tuesday following a report that German political parties have agreed to form a coalition, while the U.S. dollar weakened against major currencies and China's offshore yuan hit a record low. Germany's conservatives under chancellor-designate Friedrich Merz reached a deal on Tuesday with the center-left Social Democrats (SPD) to form a government, NTV reported. However, two people familiar with the matter denied to Reuters that a deal had been reached. Investors have been focused on the trade dispute sparked by President Donald Trump's massive tariffs that have roiled...
The US Dollar Index (DXY), which tracks the US dollar against a basket of six major currencies, traded near the 103.00 region during Tuesday's (09/04) session. Momentum picked up after upbeat labor market data last week helped the index bounce off recent lows. Investors cheered remarks from US Trade Representative (USTR) Jamieson Greer, who told the Senate Finance Committee that the US is engaged in tariff discussions with nearly 50 countries. However, selling pressure resumed after the US confirmed additional tariffs will take effect on April 9 against China. Daily market digest: US...
Oil prices fell more than $1 a barrel on Tuesday, trading at their lowest in four years, as recession fears exacerbated by the trade conflict between the U.S. and China, the world's two largest economies, offset a recovery in stock markets. Brent crude futures were down $1.39, or 2.16%, at $62.82 a barrel. U.S. West Texas Intermediate crude futures were down $1.12, or 1.85%, at $59.58. Brent crude futures fell more than $2 a barrel during the session. The two benchmarks had fallen 14% and 15%, respectively, on Monday following U.S. President Donald Trump's April 2 announcement of...
Gold prices pared early gains to trade barely changed at $2,980 an ounce on Tuesday, as rising Treasury yields reduced the appeal of non-yielding assets such as bullion. Trade war concerns intensified after a White House official confirmed that the U.S. would go ahead with tariffs of up to 104 percent on Chinese imports, set to take effect at midnight. Earlier in the session, markets were buoyed by optimism over potential progress in tariff negotiations. Treasury Secretary Bessent said that more than 70 countries have been in contact with the White House, with some promising trade deals...
Silver (XAG) prices rose near $30.50 during North American trading hours on Tuesday (04/08). The white metal gained as its appeal as a safe haven has increased, with traders increasingly concerned about the outlook for trade relations between the United States (US) and China. Earlier in the day, a spokesperson for China's Ministry of Commerce warned that US President Donald Trump's threat of new tariffs was a "mistake on top of a mistake" and that China would "fight to the end" to protect its interests. The statement from Beijing came after Trump threatened to increase tariffs on China to...
Gold prices rose back above $3,000 per ounce on Tuesday as a weaker U.S. dollar and escalating trade tensions between the world's two largest economies lifted demand for the safe-haven asset. Spot gold was up 0.8% at $3,007.21 an ounce by 08:44 a.m. ET (1244 GMT), moving away from a more than three-week low touched on Monday in a pullback from last week's record high of $3,167.57. U.S. gold futures gained 1.6% to $3,021.90. "Despite falling for three consecutive sessions, gold remains bullish with trade tensions and the prospect of lower U.S. interest rates boosting its allure," said...
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....