The U.S. dollar drifted lower Thursday on growing expectations of further interest rate cuts by the Federal Reserve this year, while signs of French political accord helped the euro. At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 98.342, headed for a weekly decline of 0.3%. More Fed cuts ahead?Market participants are becoming increasingly convinced that the U.S. central bank will follow last month's interest rate cut with more monetary easing as data points to growth slowing in the world's largest...
Oil prices rose on Monday (October 13th) after assurances that US President Donald Trump would meet with Chinese President Xi Jinping by the end of October. This eased escalating trade tensions between the world's two largest economies, which had pushed crude prices to a five-month low on Friday. Brent crude closed up 59 cents, or 0.9%, at $63.32 per barrel, while US West Texas Intermediate crude also closed up 59 cents, or 1%, at $59.49 per barrel. Both contracts fell about 4% on Friday, hitting their lowest levels since May, after Trump threatened to cancel the meeting with Xi and impose...
Gold broke through $4,100 an ounce for the first time on Monday (October 13), hitting a new record high amid renewed U.S.-China trade tensions and expectations of a U.S. interest rate cut, while silver also rose to an all-time high. Spot gold rose 2.2% to $4,106.48 an ounce, as of 1:47 p.m. ET (1747 GMT), after hitting a record $4,116.77. U.S. December gold futures closed 3.3% higher at $4,133. Gold has gained 56% this year and topped $4,000 for the first time last week, driven by factors including geopolitical and economic uncertainty, expectations of a U.S. interest rate cut, and robust...
Bearish signs are emerging in the oil market after US President Donald Trump's latest tariff threats sparked fears of an imminent oversupply. The West Texas Intermediate crude oil timeframe beginning in February 2026 and the following months has shifted into contango, a structure in which prices near that point trade at a discount to older prices. The repricing that began late last week dashed hopes that the market could avoid a long-anticipated oversupply, just as new US tariff threats against China are hurting demand prospects for the world's two largest crude importers. The crude oil...
Gold broke through $4,100 an ounce for the first time on Monday (October 13), hitting a new record high amid re-escalating U.S.-China trade tensions and expectations of a U.S. interest rate cut, while silver also rose to an all-time high. Spot gold rose 2.1% to $4,099.55 an ounce, as of 10:50 a.m. ET (1450 GMT), after hitting a record $4,103.58. U.S. gold futures for December delivery rose 3% to $4,120.10. Gold has surged 56% this year and topped $4,000 for the first time last week, driven by factors including geopolitical and economic uncertainty, expectations of a U.S. interest rate cut,...
Silver hit its highest level in decades as a historic short squeeze in London intensified, with the renewed price surge adding urgency to the global rush for bullion that could ease the supply-demand mismatch. Spot silver rose 3.7% to above $52 an ounce, surpassing last week's peak, while gold traded near $4,100, extending its eight-week winning streak. Platinum and palladium also surged, amid signs that market stress caused by surging investor demand is spreading to other precious metals. Concerns about a lack of liquidity in London pushed silver near its highest level since 1980, a price...
Gold (XAU/USD) continues its record-breaking rally on Monday, setting fresh all-time highs around $4,085 as fears of a revived US-China trade war boosts safe-haven demand. At the time of writing, XAU/USD is trading around $4,078, up nearly 1.50% on the day, as the metal pushes deeper into uncharted territory and extends its winning streak for a ninth consecutive week. Escalating trade frictions rippled through global markets late Friday after US President Donald Trump stunned investors by announcing plans to impose 100% tariffs on all Chinese imports starting November 1. The move followed...
The US Dollar found support at the 98.80 area after retreating from the mid-range of the 99.00s on Friday, following Trump's threat to impose 100% tariffs on China. The Index pared losses on Monday but is struggling to consolidate above the 99.00 level with most currencies trading in a choppy and volatile manner:the US President Donald Trump spooked investors on Friday, announcing 100% levies on Chinese exports in retaliation for the restrictions on the rare earth trade, and tried to cool things off on Sunday with a softer post on social media playing down that possibility. Investors,...
The Australian dollar (AUD) strengthened to around 0.6530 against the US dollar (USD) in the Asian session on Monday, after falling more than 1% in the previous trading session. This strengthening occurred amid the release of China's September trade balance data, which showed a surplus of CNY645.47 billion, down from the previous CNY732.7 billion. China's exports and imports both grew strongly, indicating continued solid trade activity in Australia's major partner. However, the AUD/USD's rise was still overshadowed by trade tensions between the US and China, after President Donald Trump...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....