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...
Oil fluctuated as the market weighed Donald Trump's mixed remarks about the threat of fresh penalties on Russian crude if his counterpart Vladimir Putin refuses a ceasefire with Ukraine. Trump told reporters on Air Force One that he doesn't think Putin will "go back on his word," which appeared to take some of the edge off his criticism earlier Sunday, when NBC News reported him as saying he was "very angry" at the Russian president and would consider "secondary tariffs." Brent's June contract was little changed below $73 a barrel after a marginal gain at the open, while...
The Silver price (XAG/USD) attracts some buyers to around $34.35 during the early European session on Monday. Potential trade wars and ongoing geopolitical tensions boost the safe-haven flows, benefitting the white metal. Traders are worried ahead of a new round of reciprocal levies that the White House is due to announce on Wednesday. Trump said late Sunday that the administration is hurrying to determine the specifics of its new tariff agenda ahead of its self-imposed deadline of Wednesday, considering possibilities after promising to remake the American economy with a slew of new levies....
Gold started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concerns of a global trade war. Bullion gained as much as 0.8% to top $3,110 an ounce, beating the previous all-time high set on Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand amid a risk-off mood for markets. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while traders also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up about 18%...
The yen strengthens slightly against other G-10 and Asian currencies in the morning session amid risk-off sentiment spurred by looming U.S. tariffs. "We judge that President Trump's tariff regime will be more disruptive to the global economy than markets are currently pricing," say three members of CBA's Global Economic & Markets Research. Risks are tilted to a sharp decline in global equities and a weaker USD/JPY, the members say in a research report. USD/JPY could soon sustainably break below support at 148.13, they add. USD/JPY edges 0.2% lower to 149.56; risk-sensitive AUD/JPY is...
Oil steadied as investors weighed the fallout from President Donald Trump's threat of fresh penalties on Russian crude if a ceasefire with Ukraine could not be reached. Brent's June contract was little changed near $73 a barrel, while West Texas Intermediate was above $69. In comments reported by NBC News on Sunday, Trump said he was "very angry" with his counterpart Vladimir Putin and raised the prospect of secondary tariffs. The US president later told reporters on Air Force One that he wasn't implementing oil sanctions right now. Russia is one of the world's...
Gold started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concern of a global trade war. Bullion edged higher to top $3,093 an ounce, beating the previous all-time high set on Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while markets are also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up about 17% this year in a run that's seen it...
Gold clings to daily gains and trades near the record-high it set above $3,080 earlier in the day. Although the data from the US showed that core PCE inflation rose at a stronger pace than expected in February, it failed to boost the USD.The anti-risk flow is evident from a generally weaker tone around the equity markets, which, in turn, is seen driving safe-haven flows toward the precious metal. The global risk sentiment continues to be undermined by worries over US President Donald Trump's auto tariffs announced on Wednesday, the uncertainty about impending reciprocal tariffs next week,...
Oil prices were set for a third weekly gain on Friday as the U.S. ramped up pressure on Venezuela and Iran, though worries over whether Washington's tariff war could curb demand weighed on markets. Brent crude futures were flat at $74.03 a barrel at 1235 GMT and U.S. West Texas Intermediate crude futures were up 1 cent at $69.93 a barrel. Both contracts have gained about 2.5% so far this week, and have risen around 7% since hitting multi-month lows in early March. The main driver of the price rally has been the shifting landscape of global oil sanctions, BMI analysts wrote in a market...
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....