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 rose to a record amid concerns about a widening trade war after President Donald Trump pushed ahead with US tariffs on all auto imports. Bullion gained as much as 0.9% on Friday to top $3,085 an ounce, beating the previous record set a day earlier. It was on track for a fourth weekly gain, with prices supported by growing haven demand. Trump on Thursday signed a proclamation to slap a 25% tariff on auto imports and pledged harsher punishment on Europe and Canada if they join forces "to do economic harm" to the US. Markets are also bracing for a fresh wave of trade...
The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, before the release of personal income, spending and price data for February at 8:30 am ET. The final University of Michigan consumer sentiment reading for March is due to be released at 10:00 am ET at the same time as state unemployment data for February. The Kansas City Federal Reserve's services reading for March follows at 11:00 am ET and updates to the Atlanta and St. Louis Fed's gross domestic product growth Nowcast estimates are due around midday. Fed Governor Michael Barr is...
Oil prices retreated on Friday amid tariff-related demand concerns, but headed for a third weekly gain on a tightening global supply outlook after the U.S. placed more pressure on Venezuelan and Iranian oil trade. Brent crude futures lost 31 cents, or 0.4%, at $73.72 a barrel at 0742 GMT, falling for the first time after daily gains of seven consecutive sessions. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, to $69.59 a barrel. The downward corrections mirrored broader risk assets sell-offs on Friday, as the latest tariff salvo from U.S. President Donald Trump...
Gold price (XAU/USD) retains its bullish bias through the first half of the European session on Friday and touches a fresh all-time peak, around the $3,086 region in the last hour. 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, and their effect on the global economy. 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. Furthermore,...
The USD/CHF pair traded in the positive territory near 0.8825 during the early European session on Friday (3/28). The greenback moved higher as traders assessed how severe the tariffs scheduled to be announced by US President Donald Trump next week are likely to impact the global economy. The US Personal Consumption Expenditures (PCE) data for February will be in focus on Friday. Growing optimism that Trump will be flexible on tariffs could boost risk sentiment and the US Dollar (USD). Trump said on Monday that auto tariffs would be implemented soon, but not all threatened duties will be...
Oil prices eased slightly but held near one-month highs on Friday as they headed for a third weekly gain as the outlook for global supplies tightened after the U.S. imposed tariffs on countries buying Venezuelan oil and restricted trade in Iranian oil. Brent crude futures fell 14 cents, or 0.2%, to $73.89 a barrel. U.S. West Texas Intermediate crude futures fell 12 cents, or 0.2%, to $69.80 a barrel by 0431 GMT. The moves were small compared with gains of more than 2% for both contracts so far this week. Oil prices have risen more than 7% since hitting multi-month lows in early March. The...
Silver (XAG/USD) prices fell after rising more than 2% in the previous session, trading near $34.30 per troy ounce during Asian trading hours on Friday (3/28). Despite the decline, safe-haven demand for Silver remained strong amid rising risk aversion, driven by escalating trade tensions ahead of new US tariffs next week. US President Donald Trump recently imposed a 25% tariff on foreign-made cars and auto parts, prompting threats of retaliation from the European Union and Canada. This has raised concerns about a wider trade dispute and potential global economic impact. Silver, a...
Gold rose to a record high as concerns about a widening trade war remained top of mind for investors, after President Donald Trump pushed ahead with U.S. tariffs on all auto imports. Bullion rose as much as 0.7% on Friday to an all-time high of more than $3,077 an ounce, beating a previous record set on Thursday. Gold is on track for a fourth weekly gain, with prices supported by rising demand for safe-haven assets. Trump on Thursday signed a proclamation to impose 25% tariffs on auto imports and vowed tougher penalties on the EU and Canada if they join forces "to do economic harm" to the...
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....