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 Australian Dollar (AUD) remains steady against the US Dollar (USD) following the release of China's economic data on Monday. Additionally, the AUD/USD pair gained ground as the US Dollar (USD) edges lower ahead of Retail Sales data release later in the North American session. China's retail sales grew by 4% year-over-year in January-February, improving from December's 3.7% increase. Meanwhile, industrial production rose 5.9% YoY during the same period, exceeding the 5.3% forecast but slightly lower than the previous reading of 6.2%. The AUD could gain ground as China unveiled a special...
Gold edges higher in the early Asian session, underpinned by ongoing global trade tensions. "Tariff concerns that risk higher inflation and slower economic growth are spurring demand for safe-haven assets like gold," ING's Ewa Manthey says in a research report. "We see uncertainty over trade and tariffs continuing to buoy gold prices - and if trade tensions intensify and we see more retaliatory measures, safe-haven demand for gold will continue," the commodities strategist adds. Spot gold is 0.2% higher at $2,989.79/oz. Source: Marketwatch
Oil rose for a second day after China, the world's biggest importer, said it would take steps to revive consumption by boosting incomes. Brent crude climbed above $71 a barrel after advancing 1% on Friday, with West Texas Intermediate near $68. Beijing will also give details on policies to stabilize stock and real estate markets, lift wages and boost the nation's birth rate, state-run news agency Xinhua reported. Crude has fallen more than 10% from this year's high in January, as US President Donald Trump's escalating trade war, an OPEC+ decision to increase supply...
The Pound Sterling (GBP) registers back-to-back bearish days, dropping some 0.14% on Friday against the Greenback after economic data from the United Kingdom (UK) revealed that the Gross Domestic Product (GDP) contracted. Despite this, GBP/USD is trading above the 1.2900 figure, poised to finish the day near this level.GBP/USD pressured after UK GDP miss while rising US inflation expectations complicate Fed's next moveRecently, data from the University of Michigan (UoM) showed that Consumer Sentiment in March deteriorated, from 64.7 to 57.9, below forecast of 63.1. Notably, inflation...
Oil prices rebounded by 1% on Friday to end the week nearly unchanged as investors weighed the diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies to Western markets. Brent crude futures settled 70 cents, or 1%, higher at $70.58 a barrel, after falling 1.5% in the previous session. U.S. West Texas Intermediate crude (WTI) (CLc1) closed at $67.18 a barrel, up 63 cents, or 1%, after losing 1.7% on Thursday. Both benchmarks ended the week little changed from last Friday, when Brent settled at $70.36 and WTI at $67.04. "Brent oil has...
Gold broke through the key $3,000 barrier on Friday for the first time as investors piled on to a historic rally in the safe-haven asset to seek cover from economic uncertainty sparked by U.S. President Donald Trump's tariff war. Spot gold hit an all-time high of $3,004.86 earlier in the session, before easing 0.1% to $2,986.26 as of 02:01 p.m. ET (1801 GMT) on profit taking. U.S. gold futures settled 0.3% higher at $3,001.10. Gold's surge past the $3,000 milestone was driven by "beleaguered investors seeking the ultimate safe-haven asset given Trump's tumult on stock markets," said Tai...
Gold (XAU/USD) prices had earlier hit an all-time high of $3,004, before falling back below $3,000, still posting a weekly gain of over 2.5% for now at the time of writing on Friday (3/14). The inflow and additional demand for Bullion came after US President Donald Trump retaliated against European tariffs, saying he would impose a 200% tariff on wine and champagne from the region. This has spooked market participants into believing that all bets are off and that US President Trump will not back down or ease his stance on tariffs, raising more concerns about growth and demand for riskier...
Oil prices rebounded on Friday after falling more than 1% in the previous session, partly as the prospect of an end to the Ukraine war that could bring more Russian energy supplies back to Western markets faded. Brent crude futures were up 54 cents, or 0.77%, at $70.42 a barrel by 1055 GMT, after closing 1.5% lower in the previous session. U.S. West Texas Intermediate crude futures were at $67.13 a barrel, up 58 cents, or 0.87%, after closing down 1.7% on Thursday. Prices are expected to end the week more or less flat from Friday, when Brent closed at $70.36 and WTI at $67.04. "Brent 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....