The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from the European Central Bank (ECB), released earlier on the day, has provided additional support to the common currency. The Euro (EUR) has turned positive on the daily chart and returned above the 1.1700 level. The pair remains above Friday's high, at 1.1675, and also above the top of a bearish channel from July 1 highs, which suggests that further appreciation is likely. The ECB's survey...
Oil prices edged up on Thursday, held in check by threatened U.S. tariffs on Canadian and Mexican crude imports that could take effect this weekend. Brent crude futures settled 29 cents, or 0.4%, higher at $76.87 a barrel. U.S. crude futures finished at $72.73 a barrel, up 11 cents, or 0.2% higher than Wednesday, when they settled at their lowest level this year so far. "We're getting close to the deadline and people are getting nervous," said Phil Flynn, senior analyst with Price Futures Group. U.S. President Donald Trump has threatened to impose a 25% tariff as early as Saturday on...
USD/CHF steadies after two consecutive days of gains, trading around 0.9070 during the Asian session on Thursday. This decline is mainly attributed to a weaker US Dollar (USD). The US Dollar Index (DXY), which tracks the Greenback against six major currencies, hovers slightly below the 108.00 mark at the time of writing. Traders are awaiting the release of the US fourth-quarter Gross Domestic Product (GDP) growth data, scheduled for Thursday. The market consensus expects a slowdown in annualized GDP growth, with a forecast of 2.6%, down from the previous 3.1%. Inflationary concerns persist,...
XAU/USD trades dangerously close to its record high in the $2,790 region as the latest macroeconomic developments put pressure on the US Dollar (USD). Ahead of Wall Street's opening, the European Central Bank (ECB) announced its decision on monetary policy. The ECB lowered key rates by 25 basis points (bps) each, as expected. With this decision, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility stood at 2.9%, 3.15% and 2.75%, respectively. The accompanying statement and the subsequent President Christine...
The USD/JPY pair dipped near 154.30 during the European session on Thursday (1/30). The asset weakened as the Japanese Yen (JPY) performed strongly across the board amid growing expectations that the Bank of Japan (BOJ) will continue to raise interest rates this year. BoJ hawkish bets have been rising on the assumption that Japan's spring wage negotiations will result in another strong hike this year. On Thursday, BOJ Deputy Governor Ryozo Himino also said that the central bank "will raise interest rates if the economy and prices move in line with expectations." Meanwhile, the US Dollar...
The US Dollar Index (DXY), which tracks the US dollar against a basket of six major currencies, was trading flat around 108.00 at the time of writing on Thursday (30/1). All eyes are now on the European Central Bank (ECB), where a 25 basis point (bps) interest rate cut is expected. After a somewhat hawkish pause from the Federal Reserve (Fed), markets are keen to see if the ECB will comment on the US political situation with Donald Trump back in office. That is something that Fed Chair Jerome Powell did not do. He refused to comment on any questions that referred to President Donald Trump....
West Texas Intermediate (WTI) crude prices continued to decline for a second straight session, trading around $72.20 a barrel during early European hours on Thursday (1/30). Investors remained cautious as uncertainty looms over US trade policy, following conflicting statements from the White House regarding President Donald Trump's proposed tariffs on Canada and Mexico—two of the United States' main crude suppliers. White House spokeswoman Karoline Leavitt confirmed on Tuesday that Trump remains committed to imposing tariffs on Canada and Mexico as planned on Saturday. On Wednesday, Trump's...
The Australian Dollar (AUD) continued its decline against the US Dollar (USD) for the fourth straight day on Thursday (30/1). However, the AUD/USD pair strengthened after the release of the Export Price Index. Data from the Australian Bureau of Statistics showed export prices rose by 3.6% quarter-on-quarter in Q4 2024, reversing a 4.3% decline in Q3 and marking the first increase since Q4 2023. The Australian Import Price Index rose by 0.2% QoQ in Q4 2024, bouncing back from a 1.4% decline in Q3 and beating market expectations of a 1.5% decline. The rise was mainly driven by surging Gold...
The GBP/USD pair is trading with modest gains around 1.2445 during the early European trading hours on Thursday (1/30). A modest pullback in the greenback is providing some support to the major currency pair. Investors will be looking closely at the US Gross Domestic Product (GDP) data for the fourth quarter (Q4), due on Thursday. In addition, weekly Initial Jobless Claims and Pending Home Sales will be published. According to the daily chart, the bearish outlook for GBP/USD remains intact, with the price holding below the important 100-day Exponential Moving Average (EMA). However, 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....