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 Pound Sterling (GBP) is retreating during the North American session against the US Dollar (USD) after hitting a four-and-a-half-month high at 1.3000 before trimming earlier gains. At the time of writing, the GBP/USD trades at 1.2975, down 0.12%. Pound trims gains as traders brace for central bank decisionsEconomic data continues to be overlooked as traders digest United States (US) President Donald Trump's protectionist policies aimed at reducing the trade deficit. Earlier, US Industrial Production in February expanded 0.7% MoM, exceeding estimates of 0.2% and January's 0.3% print,...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, fell again and traded under pressure around 103.25 at the time of writing on Tuesday (3/18), nearing a five-month low at a level not seen since October. The move came after several headlines, rising geopolitical uncertainty, and significant events that occurred throughout the day. Any headline could act as a catalyst to push the DXY to a near six-month low and below the 103.00 level. On the geopolitical front, a high-stakes meeting between US President Donald Trump and...
Gold futures surged to a new record high on a weaker U.S. dollar and rising tensions in the Middle East. Gold futures rose 1% to $3,037.60 an ounce, beating Friday's previous record high of $3,017.10 an ounce. The U.S. dollar has been under downward pressure due to weak economic data and concerns about the pace of U.S. growth, alongside the growing burden of public debt, Linh Tran of XS.com said in a note. At the same time, geopolitical tensions continue to rise in the Middle East. The Israel-Hamas conflict escalated dramatically early Tuesday when Israel launched a series of attacks on...
The silver market is facing increasing pressure as trade war fears escalate, with higher interest rates on borrowing the metal adding to signs of global dislocation. A surge in rental rates for the precious metal has been the latest warning sign, with concerns growing over the impact of further tariffs from US President Donald Trump. That has prompted a rush to ship silver to the US in a bid to capture a premium in New York, which could put pressure on London. The precious metals gold and silver have been in a bearish spiral this year, as Trump has challenged the global trade order. That...
The pound rose above $1.30 for the first time since November on bets UK interest rates will stay above those of other major currencies this year. Sterling rose 0.1% on Tuesday to $1.3001, also supported by a broadly weaker dollar amid concerns about U.S. economic growth and uncertainty over the outlook for trade tariffs. The currency has gained nearly 4% this quarter. The Bank of England meets this week and is widely expected to keep interest rates unchanged at 4.5%, as rising inflation and geopolitical uncertainty support a gradual pace of easing. Traders see the BOE lowering borrowing...
Gold price (XAU/USD) retains its bullish bias through the early European session on Tuesday and currently trades around the $3,010 area or the all-time peak. Persistent uncertainty over US President Donald Trump's policies, US recession fears, and geopolitical risks continue to push the safe-haven precious metal higher for the second straight day. This also marks the fifth day of a positive move for the commodity in the previous six and is further fueled by expectations that the Federal Reserve (Fed) will lower borrowing costs several times this year. The XAU/USD bulls, meanwhile, seem...
The Japanese Yen (JPY) extends its steady intraday descent through the early European session on Tuesday, lifting the USD/JPY pair to a fresh two-week high, around the 149.85 region in the last hour. The global risk sentiment remains well supported by the optimism over China's stimulus measures and hopes for a Ukraine peak deal, which, in turn, is seen undermining the safe-haven JPY. Apart from this, a modest US Dollar (USD) recovery from a multi-month low touched on Monday lends additional support to the currency pair. Meanwhile, the markets have been pricing in the possibility that the...
Silver price (XAG/USD) extends its upside to around $33.90, its highest level since October 30, 2024, during the Asian trading hours on Tuesday, bolstered by the weaker US Dollar (USD). The escalating geopolitical tensions in the Middle East, economic uncertainty and growing industrial demand provide some support to the white metal. The mounting fears of a recession in the United States (US) and persistent uncertainty over trade relations weigh on investor sentiment, boosting safe-haven assets like Silver. Late Monday, US President Donald Trump said that he would be imposing both broad...
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....