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 British Pound (GBP) depreciated against the US Dollar (USD) after the Bank of England (BoE) decided to keep rates unchanged and warned about interest rate cuts due to "a lot of economic uncertainty at the moment," said BoE Governor Andrew Bailey. At the time of writing, GBP/USD is trading at 1.2964, down 0.29%. Sterling falls 0.29% as Bailey warns of economic uncertainty, dissent emerges within BoETraders are still digesting the BoE's decision, which wasn't unanimous, with Monetary Policy Committee (MPC) member Swati Dhingra being the dissenter, with her voting for a 25 basis points...
Gold price retreats on Thursday as bulls take a breather following the Federal Reserve's (Fed) latest monetary policy decision and an escalation of hostilities in the Middle East. The XAU/USD trades at $3,042, down over 0.19%. Market sentiment turned negative, while the Greenback stages a recovery as depicted by the US Dollar Index (DXY), which tracks a basket of six currencies against the buck. Gold traders failed to drive prices higher, even though the Fed held rates unchanged at the 4.25%–4.50% range for the second consecutive meeting. Officials added that they will slow down the pace...
The USD/JPY pair moves higher to near 149.00 in North American trading hours on Thursday. The pair gains as the US Dollar (USD) rallies sharply in the aftermath of the Federal Reserve's (Fed) monetary policy outcome. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, jumps to near 104.00 after attracting significant bids near the five-month low of 103.20. On Wednesday, the Fed kept interest rates unchanged in the range of 4.25%-4.50%, as expected, for the second time in a row. The central bank also maintained its forecast of two interest rate cuts...
Oil prices rose on Thursday after the United States issued new Iran-related sanctions and renewed tensions in the Middle East countered strength in the dollar. Brent crude futures were up $1.03, or 1.46%, to $71.83 a barrel at 12:13 p.m. EDT (1613 GMT). The U.S. West Texas Intermediate crude (WTI) contract for April, expiring on Thursday, rose $1.07 to $68.23. The more actively traded WTI May contract rose 99 cents, or 1.48%, to $67.90, having risen more than $1 during the session. The U.S. on Thursday issued new Iran-related sanctions, targeting entities including for the first time a...
The AUD/USD pair plummets to near 0.6280 during North American trading hours on Thursday. The Aussie pair faces an intense sell-off as the Australian Dollar (AUD) underperforms its peers due to weak employment data for February.The Australian Bureau of Statistics reported that the labor force unexpectedly witnessed a massive lay-off. Australian employers fired 52.8K workers, while economists expected a fresh addition of 30K. In January, the economy added 30.5K payrolls, downwardly revised from 44K. The Unemployment Rate remains steady at 4.1%, as expectedWeak employment data has resulted in...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, rallies above 104.00 on Thursday after the weekly jobcless claims data. Borrowing costs were kept unchanged overnight by the Federal Reserve (Fed), and projected two interest rate cuts for 2025. During Wednesday's Fed meeting, Chairman Jerome Powell said that any tariff-driven bump in inflation will be "transitory." However, he added later that it will be very challenging to say with confidence how much inflation stems from tariffs versus other factors. He also said recession odds...
Gold (XAU/USD) price managed to reach an all-time high of $3,057 before dropping nearly 0.50% to around $3,041 at the time of writing on Thursday (3/20). Despite selling pressure from profit-taking, the previous uptick came after the Federal Reserve (Fed) interest rate decision overnight, where the central bank kept interest rates unchanged in the range of 4.25%-4.50%. Fed Chairman Jerome Powell reiterated that tariffs should only delay the time to achieve inflation targets. Meanwhile, on the geopolitical front, tensions are rising in Gaza and Turkey. Israel continues its attacks on Gaza...
Oil prices were little changed on Thursday, as a higher-than-expected drawdown in U.S. fuel inventories and fresh tensions in the Middle East offset a stronger dollar. Brent crude was up 8 cents, or 0.11%, at $70.86 a barrel by 1251 GMT, while U.S. West Texas Intermediate (WTI) crude for April delivery rose 4 cents to $67.20. The more actively traded May WTI contract rose 5 cents, or 0.07%, to $66.96. U.S. government data showed a larger-than-expected drawdown last week in distillate inventories, which include diesel and heating oil, which fell by 2.8 million barrels, more than 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....