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...
EUR/USD corrects to near 1.1030 during European trading hours on Friday after posting a fresh six-month high at 1.1145 the previous day. The major currency pair retraces as the US Dollar (USD) rebounds after United States (US) President Donald Trump's tariffs-driven sell-off and ahead of the Nonfarm Payrolls (NFP) data for March and Federal Reserve (Fed) Chair Jerome Powell's speech due to in the North American session. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, recovers above 102.00 from its six-month low of around 101.25. Economists expect...
The dollar index trimmed early gains to trade flat around 102 on Friday, hovering near six-month lows after a sharp 1.7% drop the previous day, as traders weighed escalating trade tensions. China's finance minister announced a 34% tariff on all US imports, matching the levy imposed by President Trump on Wednesday. Rising concerns over the economic fallout, including higher prices, slower growth, and a potential recession, have fueled speculation of more aggressive Federal Reserve rate cuts. Traders now see a 50% chance of four 25bps cuts this year, up from three earlier in the week, with...
Gold price (XAU/USD) maintains its offered tone through the first half of the European session on Friday and currently trades below the $3,100 mark, down for the second successive day. The downtick lacks any obvious fundamental catalyst and could be attributed to some repositioning trade ahead of the crucial US monthly employment details, or the Nonfarm Payrolls (NFP) report. In the meantime, worries about the potential economic fallout from US President Donald Trump's sweeping reciprocal tariffs might act as a tailwind for the safe-haven Gold price. Moreover, bets that the Federal...
Oil prices were down nearly 2% on Friday, and on track for the worst week in months over U.S. President Donald Trump's new tariffs, stoking concerns that a global trade war could hurt oil demand. Brent futures fell $1.28 to $68.86 a barrel by 0703 GMT, while U.S. West Texas Intermediate crude futures fell $1.29 to $65.66. Brent was on course for its biggest weekly loss in percentage terms since the week ended October 14, and WTI since the week ended January 21. While the highly anticipated tariff announcement by Trump on Wednesday sank crude prices, the impact was more severe elsewhere....
Silver prices dropped to around $31.50 per ounce on Friday, bringing weekly losses to nearly 8% as global trade and economic worries triggered a widespread selloff across financial markets. The decline followed US President Donald Trump's announcement of a 10% baseline tariff on all imports, with higher levies targeting major economies including China (54%), the EU (20%), Japan (24%), and India (27%). Affected nations have vowed to retaliate, stoking fears of a tariff-driven global economic slowdown. Equities and commodities bore the brunt of the selloff, while investors shifted toward...
Gold price (XAU/USD) struggles to capitalize on the previous day's late rebound from the $3,054 area, or a one-week low, and attracts fresh sellers during the Asian session on Friday. However, the risk-off mood, fueled by growing market concerns that US President Donald Trump's reciprocal tariffs could dent global economic growth and trigger a recession in the US, helps limit losses for the safe-haven precious metal.Meanwhile, expectations that the Federal Reserve (Fed) will resume its rate-cutting cycle soon on the back of a tariffs-driven US economic slowdown keep the US Dollar (USD)...
The EUR/USD pair trades in positive territory for the third consecutive day around 1.1080 during the early European session on Friday bolstered by the broader US Dollar weakness. Investors await the German Factory Orders and US employment report, which will be published later on Friday. US President Donald Trump on Wednesday unveiled sweeping global tariffs of at least 10% on goods imported from most US trading partners. The Trump administration plans to impose a 20% tariff on EU goods and higher duties on some of the country's biggest trading partners. The tariffs will take effect on April...
The U.S. dollar sank on Friday and the safe-haven yen strengthened towards a six-month peak, as traders weighed the fallout from President Donald Trump's aggressive and far-reaching new tariff measures. The dollar slipped toward a six-month trough against the euro prior to the release of a crucial monthly U.S. payrolls report later in the day that will offer clues to the health of the economy and the outlook for monetary easing. Traders now predict four quarter-point interest rate cuts from the Federal Reserve in the remainder of this year, and reduced the odds of further Bank of Japan...
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....