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 Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades around 103.00 at the time of writing on Tuesday, after some comments from Secretary Scott Bessent. Over the past few days, the overall risk-off sentiment had rather devalued the Greenback substantially, though since the strong Nonfarm Payrolls (NFP) released on Friday, the DXY has been climbing back. The question will be if the index can hold on to this recovery when more US data comes in. On the economic calendar front, some light data is set to be published. The National...
Oil prices steadied on Tuesday but remained near four-year lows as a recovery in equity markets was outweighed by recession fears exacerbated by trade conflict between the United States and China, the world's two biggest economies. Brent futures were up 24 cents, or 0.4%, at $64.45 a barrel at 1224 GMT. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5%, to $61.01. The two benchmarks had slumped by 14% and 15% respectively on Monday after U.S. President Donald Trump's April 2 announcement of "reciprocal tariffs" on all imports. On Tuesday Beijing vowed not to bow to what it...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades above 103.20 at the time of writing on Tuesday, slightly lower in the day while risk on is trying to take over market sentiment. Over the past few days, the overall risk-off sentiment had rather devalued the Greenback substantially, though since the strong Nonfarm Payrolls (NFP) released on Friday, the DXY has been climbing back. The question will be if the index can hold on to this recovery when more US data comes in. On the economic calendar front, some light data is set to...
The Pound Sterling (GBP) bounces back to near 1.2800 against the US Dollar (USD) in Tuesday's European session from over a month's low of 1.2708 posted on Monday. The GBP/USD pair recovers as the US Dollar resumes its downside move after a short-lived recovery in the last two trading days. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, tumbles to near 102.90. The Greenback remains on the backfoot as traders have become increasingly confident that the Federal Reserve (Fed) could reduce interest rates earlier this year to offset fears of potential...
Silver prices stabilized above $30 per ounce on Tuesday, following a bout of heightened volatility as investors continued to navigate shifting global trade dynamics and their impact on economic and inflation expectations. The metal came under pressure last week amid broad risk-off sentiment, as fears of a tariff-induced global recession triggered a wave of liquidations across asset classes. However, sentiment has since improved slightly after US President Donald Trump signaled a willingness to engage in trade negotiations with key partners, raising hopes for a potential easing of global...
Oil prices were up around 1% on Tuesday, rebounding from a near four-year low in the previous session on concerns that U.S. tariffs might depress demand and lead to a global recession, though analysts warned downside risks remain. Brent futures were up 66 cents, or 1%, at $64.87 per barrel, while U.S. West Texas Intermediate crude futures rose 67 cents, or 1.1%, to $61.37, at 0650 GMT. As of Monday, Brent and WTI had slumped 14% and 15% respectively following U.S. President Donald Trump's April 2 announcement of "reciprocal tariffs" on all imports. Oil prices recouped some of those losses...
Gold prices rose in Asian trading on Tuesday, rebounding from a three-week low as investors sought safety amid escalating trade tensions between the U.S. and China. As of 02:12 ET (06:12 GMT), Spot Gold rose 0.7% to $3,002.68 per ounce. Gold fell below $3,000 per ounce in the previous session to hit its lowest level since March 13 as investors liquidated their positions to cover losses in other financial markets. "Gold is traditionally a safe haven, but sometimes investors sell it along with other asset classes to cover losses elsewhere," ING analysts said in a note. Gold Futures...
Japanese Yen (JPY) trims a part of modest intraday gains against its American counterpart, though the near-term bias still seems tilted in favor of bullish traders. Concerns that harsher US reciprocal tariffs could negatively impact Japan's economy, along with a slight improvement in the global risk sentiment, act as a headwind for the safe-haven JPY. However, the growing market acceptance that the Bank of Japan (BoJ) will continue raising interest rates in 2025, amid signs of broadening inflation, might hold back the JPY bears from placing aggressive bets. Meanwhile, US President Donald...
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....