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 dollar strengthened on Thursday after the Federal Reserve signaled it was in no rush to cut interest rates further this year due to uncertainty over U.S. tariffs, while the pound remained weak after the Bank of England kept interest rates steady. The Swiss franc weakened slightly after the Swiss National Bank cut its policy rate to 0.25%, while the Swedish crown weakened after its central bank kept rates unchanged. U.S. policymakers project two quarter-point interest rate cuts are likely later this year, the same median forecast as three months ago, even as they forecast slower...
EUR/USD slumped near 1.0830 as the US Dollar (USD) strengthened, while investors digested the gloomy outlook for the US economy under President Donald Trump, anticipated by the Federal Reserve (Fed). The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, rose near 104.00. On Wednesday, the Fed left its key lending rate unchanged in a range of 4.25%-4.50%, as expected, for the second straight day and stuck to its guidance for two rate cuts this year as projected in its December policy meeting. The Fed said it was in no rush to adjust monetary policy...
Oil prices rose on Thursday, boosted by a strong demand outlook in the United States after fuel inventories fell more than expected, and a weaker U.S. dollar. Brent crude futures rose 34 cents, or 0.5%, to $71.12 a barrel by 0745 GMT, their highest since March 3. U.S. West Texas Intermediate (WTI) crude rose 42 cents, or 0.6%, to $67.58. U.S. government data showed a larger-than-expected draw last week in distillate inventories, which include diesel and heating oil, which fell by 2.8 million barrels, more than the 300,000-barrel draw expected in a Reuters poll. [EIA/S] "The U.S. oil...
Gold hit an all-time high on Thursday as the U.S. Federal Reserve hinted at two possible interest rate cuts this year, adding to bullion's appeal amid ongoing geopolitical and economic tensions. Spot gold was steady at $3,047.1 an ounce by 0700 GMT, after hitting a record high of $3,057.21 earlier in the session. U.S. gold futures rose 0.4% to $3,054.10. Gold is being driven by "a lot of market uncertainty, geopolitical tensions, a weaker U.S. dollar and expectations that interest rates will be cut later," said Dick Poon, general manager at Heraeus Metals Hong Kong Ltd. On Wednesday, the...
The Japanese Yen (JPY) maintained its bid tone through the first half of the European session on Thursday (3/20) amid bets that the Bank of Japan (BoJ) will continue to raise interest rates this year, as strong wage growth could boost consumer spending. This, in turn, could contribute to a pickup in inflation and give the BoJ some room to tighten its policy further. The resulting narrowing of interest rate differentials between Japan and its peers continued to support the lower-yielding JPY. Furthermore, uncertainty over US President Donald Trump's trade policies and geopolitical risks...
Gold prices rose to record highs in Asian trade on Thursday, benefiting from a softer dollar as the Federal Reserve still signaled at least two more interest rate cuts this year. The yellow metal extended a run of recent gains, as it continued to benefit from heightened safe haven demand due to the collapse of the Israel-Hamas ceasefire, sluggish Russia-Ukraine peace negotiations, and increased uncertainty over the U.S. economy under President Donald Trump. Spot gold rose 0.2% to a record high of $2,057.36 an ounce, while gold futures expiring in April hit a peak of $3,065.09 an...
Gold hovered around $3,050 per ounce on Thursday, a fresh record, supported by rising US rate cut expectations and strong safe-haven demand. The Federal Reserve noted increased economic uncertainty but still expects to cut rates by 50 bps this year, matching its December projection and boosting non-yielding gold. Meanwhile, tensions in the Middle East escalated as Israel launched "targeted ground activities" in Gaza, retaking part of a key area after an airstrike ended a two-month ceasefire with Hamas. The US also kept striking Houthi targets in Yemen after Red Sea attacks, with Trump...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.20 during the early Asian session on Thursday. The WTI price edges higher amid the ongoing geopolitical tensions in the Middle East. However, the Federal Reserve's (Fed) decision to hold interest rates steady might cap the upside for WTI price. The Israeli military resumed ground operations in the central and southern Gaza Strip. US President Donald Trump threatened to continue his country's attack on Yemen's Houthis and said he would hold Iran responsible for any attacks carried out by the group that has...
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....