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...
Gold prices have topped $3,000 an ounce for the first time, driven higher by massive central bank spending, fragile economies around the world and President Donald Trump's efforts to rewrite the rules of global trade by imposing tariffs on strategic allies and rivals. Bullion prices rose as much as 0.4% to $3,001.20 an ounce on Friday. The move through the psychological $3,000 level underscores gold's centuries-long role as a store of value in turbulent times and as a gauge of fear in markets. In the past quarter-century, prices have risen 10-fold, even outperforming the S&P 500, the...
Here's what you need to know on Friday, March 14: The US Dollar (USD) held steady in European morning trading on Friday (3/14), with the USD Index holding in positive territory near 104.00 after posting modest gains for two straight days. The US economic docket will feature the University of Michigan's preliminary Consumer Sentiment Index data for March ahead of the weekend. Senate Democratic Leader Chuck Schumer announced late Thursday that he plans to vote to keep the government open as the chamber prepares to debate a stopgap GOP bill to continue funding the government on Friday. US...
Silver (XAG/USD) prices extended its upward momentum for the fourth straight day, trading around $33.90 per troy ounce during European trading hours on Friday (3/14). The precious metal benefited from rising safe-haven demand amid escalating global trade tensions. Market concerns escalated after US President Donald Trump threatened 200% tariffs on European wine, champagne and other spirits in response to the EU's 50% tariffs on American whiskey. Silver, a non-interest-bearing asset, gained support from rising expectations of a Federal Reserve (Fed) interest rate cut following weak US...
Gold hit an all-time high on Friday, boosted by uncertainty over U.S. tariffs, trade tensions and growing expectations of monetary easing by the Federal Reserve. Spot gold fell 0.1% to $2,984.71 an ounce by 0701 GMT. Earlier in the session, safe-haven bullion hit a record high of $2,993.80 and held near the key $3,000 milestone. Bullion is on track for a second straight weekly gain, up 2.5% so far. U.S. gold futures rose 0.2% to $2,997.50. "The market's risk-off stance reflects investors' expectations that trade tensions are likely to worsen before easing, and is turning to safe-haven...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against six major currencies, extends its winning streak for a third consecutive day amid improved Treasury yields. The DXY is trading near 104.00 with 2- and 10-year yields on US Treasury bonds standing at 3.96% and 4.29%, respectively, during Asian hours on Friday. The Greenback strengthened after better-than-expected jobless claims and weaker-than-anticipated Producer Price Index (PPI) data released on Thursday. Traders now await the preliminary Michigan Consumer Sentiment Index for March, set for release in the North American...
Gold price (XAU/USD) extends its consolidative price move near the all-time peak touched the Asian session on Friday. Positive comments out of the White House and from Canadian officials, along with reports that there will be enough Democratic votes to avoid a US government shutdown, boost investors' confidence. This is evident from a generally positive tone around the equity markets, which, along with some follow-through US Dollar (USD) buying for the third straight day, acts as a headwind for the safe-haven precious metal. However, the growing market acceptance that the Federal Reserve...
Oil prices rebounded on Friday to recover some of their more than 1% losses in the previous session, partly due to diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies. Brent crude futures rose 46 cents, or 0.7%, to $70.34 a barrel by 0406 GMT after settling 1.5% lower in the previous session. U.S. West Texas Intermediate crude was at $67.03 a barrel, up 48 cents, or 0.7%, after closing down 1.7% on Thursday. Russian President Vladimir Putin said on Thursday that Moscow supported a U.S. proposal for a ceasefire in Ukraine in principle,...
GBP/USD continues its decline for the second straight session, trading near 1.2940 during Friday's Asian session. The pair faces challenges as the Pound Sterling (GBP) struggles amid weakened risk sentiment, exacerbated by concerns over global trade after US President Donald Trump threatened a 200% tariff on European wines and champagne, unsettling markets. Traders now await the UK's monthly Gross Domestic Product (GDP) and factory data for January, set for release on Friday. Investors will closely watch the UK GDP figures as the Bank of England (BoE) has expressed concerns over 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....