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 was steady in early Asian trading after hitting an all-time high overnight. "A series of economic and geopolitical factors have fueled this surge," Antonio Di Giacomo of XS.com said in an email. "Among them, the new tariff measures announced by US President Trump stand out, as they have created uncertainty in international markets," said financial market analyst for Latam. The protectionist stance has heightened trade tensions and prompted investors to seek refuge in safe-haven assets such as gold, the analyst added. Spot gold was little changed at $3,055.52/oz. (Newsmaker23) Source:...
Oil is headed for a third weekly gain as the market braces for more tariffs from the Trump administration set to take effect early next week. West Texas Intermediate crude futures were steady below $70 a barrel, while Brent settled near $74 on Thursday. So-called reciprocal levies and duties on buyers of Venezuelan crude and gas are scheduled to take effect on April 2, the latest in a series of U.S. tariffs that have rattled global markets. Oil has been trending higher since early March as investors weighed supply disruptions caused by President Donald Trump's sanctions and levies, with...
The USD/JPY pair posts a fresh three-week high near 151.00 during North American trading hours on Thursday. The pair strengthens amid significant weakness in the Japanese Yen (JPY). The Yen underperforms even though traders remain confident that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ hawkish bets have been driven by expectations of more wage hikes ahead. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4% this year.Though investors have underpinned the US Dollar (USD) against the Japanese Yen, it is...
EUR/USD jumps to near 1.0800 in North American trading hours on Thursday. The major currency pair gains after a six-day losing streak despite deepening fears of a potential trade war between the United States (US) and the Eurozone. Fears of a trade war have escalated as the European Union (EU) prepares to announce retaliatory tariffs on the US against 25% auto tariffs imposed by President Donald Trump on Wednesday, which will come into effect on April 2. "I can't tell you exact timings for when our potential response to these still not implemented actions will come, but I can assure you...
Gold price uptrend continued on Thursday with the yellow metal hitting a new record high of $3,059 amid uncertainty over trade policies enacted by US President Donald Trump, which escalated the trade war by imposing tariffs on automobiles. The XAU/USD trades at $3,051, up more than 1%. Tariffs continue to drive price action, following Trump's announcement of 25% duties on cars and automotive parts not manufactured in the United States (US). As uncertainty rises, Bullion traders bought the precious metal, which extended its gains past $3,050.Consequently, risk appetite deteriorated with Wall...
The Australian Dollar (AUD) trades steady around the region 0.6300 against the US Dollar (USD) during Thursday's American session. The pair consolidates recent gains despite renewed weakness in the US Dollar, which faces selling pressure after tariff-related developments and market caution ahead of Friday's PCE inflation release. The AUD/USD pair trades within a tight range, reflecting market indecision but holding ground as optimism over China's stimulus pledges provides underlying support. Daily digest market movers: Australian Dollar holds steady as tariff tension weighs on USDThe...
Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world's economy. Brent crude futures gained 24 cents, or 0.3%, to settle at $74.03 a barrel. U.S. West Texas Intermediate crude futures rose 27 cents to $69.92. On Wednesday, oil prices rose about 1% to their highest since February. Market participants were weighing escalating trade war risks. U.S. President Donald Trump unveiled his plan on Wednesday to implement 25% tariffs on imported cars and light trucks effective next week, while those...
Gold price (XAU/USD) jumped higher on Thursday, gained over 1.00% at one point before fading back to $3,046 at the time of writing. The pop in the precious metal was infused by United States President Donald Trump, who issued fresh new tariffs. Trump signed a proclamation for a 25% tariff on auto imports on Wednesday. The squeeze in Gold prices accelerates just hours ahead of the US trading session on Thursday. In addition, President Trump suggested that further and mounting tariffs can be imposed on the European Union and Canada if both territories work together to "do the US economy...
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....