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 EUR/USD tanks and breaks below 1.08 after the March preliminary United States (US) Purchase Manager's Index (PMI) reading came in stronger on the Services sector than expected. Overall, the pair is expected to stay around 1.08 for now after United States (US) officials commented on Monday that the upcoming reciprocal tariffs will rather be targeted by sector and country, not at all simply broad-based as US President Donald Trump had originally announced. Meanwhile, on the economic data front, the preliminary Purchasing Managers Index (PMI) for March is being released on Monday. In the...
The Pound Sterling (GBP) is trimming some of its earlier gains versus the US Dollar (USD) on Monday and begins the week on an upbeat mood after Flash PMIs in both sides of the Atlantic came mixed. At the time of writing, GBP/USD trades at 1.2933, up 0.16%. Sterling trims early strength but stays afloat above 1.29, traders digest PMIs and brace for UK CPI, US PCEThe market mood improved as traders seemed relieved that the United States (US) reciprocal tariffs will be targetted to certain countries. Data-wise, S&P Global revealed that manufacturing activity in the US deteriorated...
The US dollar index rose above the 104.3 mark, reaching its highest level since March 4, as investors assessed the latest PMI data and awaited further clarity on President Trump's trade policies ahead of the April 2 deadline for his reciprocal tariffs. The latest survey revealed that US business activity picked up in March, with a significant rebound in the service sector offsetting a renewed decline in manufacturing output. However, business expectations for the year ahead fell to their second-lowest level since October 2022, driven by concerns over demand, tariffs, and broader policy...
Oil prices climbed in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. Brent crude futures rose 36 cents, or 0.5%, to $72.52 a barrel by 1004 GMT. U.S. West Texas Intermediate crude was up 40 cents, or 0.6%, at $68.68. "Crude remains rangebound as traders continued to weigh the impact of new U.S. tariffs, the risk of an economic slowdown, as well as increased OPEC+ supply from next month and the prospect of stepped-up U.S. sanctions...
Gold's price (XAU/USD) stabilizes near $3,030 at the time of writing on Monday as traders assess fresh tariff headlines over the weekend. News emerging that the Trump administration will ease off on the broad scope of tariffs being imposed on April 2 brings sighs of relief in markets. Instead, United States (US) President Donald Trump is said to be looking for more specifically targeted tariffs on specific sectors per country or region. This helps ease the fear of broad reciprocal tariffs. The idea behind these tariffs is to get companies to reshore back to the US. However, a 25% tariff...
US Dollar (USD) inched higher as 2 Apr reciprocal tariff deadline draws nearer. Officials said that Trump will announce widespread reciprocal tariffs on nations or blocs but is set to exclude some. DXY was last at 104 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. USD may continue to be better bid in the near term "As of now, Trump administration is not planning separate, sectoral-specific tariffs to be unveiled at the same event. It was also mentioned that only countries that don't have tariffs on the US, and with whom the US has a trade surplus, will not be tariffed...
Oil prices inched up on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against ceasefire talks aimed at ending the Russia-Ukraine war, which could lead to an increase in Russian supplies to global markets. Brent crude futures gained 4 cents at $72.2 a barrel by 0735 GMT. U.S. West Texas Intermediate crude rose 8 cents, or 0.1%, to $68.36. Prices fell earlier in the day. Both benchmarks settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised...
Silver prices climbed above $33.10 per ounce on Monday, snapping a three-day losing streak, as safe-haven demand increased amid geopolitical tensions and economic uncertainty in the US. Investors closely monitored US-led efforts to end the Russia-Ukraine war, while fighting in the Middle East escalated following Israeli airstrikes on a Gaza hospital on Sunday, which killed five people. Silver also gained support from a weaker US dollar, as concerns grew that President Donald Trump's tariffs could slow economic growth. This, in turn, might push the Federal Reserve to cut interest rates...
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....