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...
Oil prices edged up on Wednesday after U.S. government data showed a draw in fuel inventories, but the Federal Reserve's decision to hold interest rates steady capped gains. Brent crude futures settled up 22 cents, or 0.31%, to $70.78 a barrel. U.S. West Texas Intermediate crude (WTI) closed 26 cents, or 0.39%, higher at $67.16. U.S. crude stocks rose by 1.7 million barrels last week to 437 million barrels, U.S. government data showed, exceeding the 512,000-barrel rise analysts had expected. However, distillate inventories, which include diesel and heating oil, fell by 2.8 million barrels...
Gold prices rallied sharply and hit a new all-time high of $3,052 on Wednesday as US Federal Reserve (Fed) Chair Jerome Powell spoke following the Fed's decision to hold rates unchanged. At the time of writing, the XAU/USD trades volatile within the $3,035-$3,050 range, up more than 0.20%. The Fed decided to keep rates unchanged at the 4.25%-4.50% range and tweaked its balance sheet, which is expected to run off in April. The Fed acknowledged that labor market conditions remain solid but noted that inflation remains "somewhat" elevated, reaffirming its commitment to monitoring risks to both...
Gold prices inched up on Wednesday as rising concerns over U.S. President Donald Trump's tariff plans and the Middle East boosted interest in the safe-haven asset, even as investors awaited the Federal Reserve's policy decision later in the day. Spot gold gained 0.2% to $3,039.38 an ounce as of 1202 GMT, after hitting an all-time peak of $3,045.24 earlier in the session. U.S. gold futures added 0.2% to $3,046.70. "Rising tensions in the Middle East are driving renewed safe-haven demand, with gold prices likely to gain further support as the April 2 deadline for U.S. universal tariffs...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, rose and recovered above 103.50 at the time of writing on Wednesday (3/19) as the US Dollar (USD) strengthened against most major currencies. The surge in the Greenback followed a sharp surge of more than 5% in the USD against the Turkish Lira (TRY) after headlines emerged that authorities had detained Istanbul Mayor Ekrem Imamoglu, a key political rival of President Tayyip Erdogan, on charges including corruption and aiding a terrorist group. On the economic data front,...
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv halt attacks on each other's energy infrastructure, a move that analysts said could eventually pave the way for Russian oil to enter global markets. Brent crude futures fell 11 cents, or 0.16%, to $69.97 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.18%, to $66.78. Russian President Vladimir Putin on Tuesday agreed to halt attacks on Ukrainian energy facilities but stopped short of a full 30-day ceasefire that Trump had sought. "Crude...
EUR/USD fell sharply to just below 1.0900 during the European session on Wednesday (3/19) after posting a fresh five-month high near 1.0955 the previous day. The major currency pair weakened as the US Dollar (USD) performed strongly ahead of the Federal Reserve (Fed) interest rate decision at 18:00 GMT. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, jumped to near 103.70 after hitting a five-month low around 103.20 on Tuesday. According to the CME FedWatch tool, the Fed is almost certain to keep the benchmark lending rate unchanged in the...
The USD/CHF pair drew bids near a three-month low of 0.8750 during European trading hours on Wednesday (3/19). The Swiss franc pair strengthened as the US dollar (USD) rallied ahead of the outcome of the Federal Reserve's (Fed) two-day monetary policy meeting at 18:00 GMT. The US Dollar Index (DXY), which measures the greenback against six major currencies, recovered near 103.70 from a five-month low of 103.20 hit the previous day. Investors expect the Fed to leave interest rates unchanged in the 4.25%-4.50% range for the second straight day as officials take time to gain clarity on US...
The US Dollar Index (DXY), a measure of the value of the US Dollar (USD) against a basket of six major currencies, attracted some buyers around 103.50 during the early European session on Wednesday (3/19). Traders are preparing for the Federal Reserve's (Fed) interest rate decision later on Wednesday, with no change in interest rates expected. Fed officials' fresh economic projections will be closely watched as they could provide some clues on how policymakers view the possible impact of US President Donald Trump's administration's policies. Technically, the bearish outlook for the DXY...
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....