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 slipped on Thursday as markets weighed macroeconomic concerns, including the risk that tariff wars between the U.S. and other countries could hurt global demand. Brent futures were down 54 cents, or 0.8%, at $70.41 a barrel at 11:28 a.m. EDT (1525 GMT). U.S. West Texas Intermediate crude futures fell 63 cents, or 0.9%, to $67.05 a barrel. The International Energy Agency reported that global oil supply could exceed demand by around 600,000 barrels per day this year, with U.S.-led supply growth and global demand now expected to rise by just 1.03 million bpd, off last month's...
Gold prices surged sharply on Thursday (3/13) and surpassed its previous record high of $2,954 despite high US Treasury yields and a stronger US Dollar. At the time of writing, XAU/USD surpassed $2,960, and hit an all-time high of $2,971 per troy ounce. Earlier, the US Bureau of Labor Statistics (BLS) revealed that prices paid by producers maintained the "status quo." PPI in February increased by 3.2% YoY, below the 3.3% estimate and down from January's 3.7%. Core PPI increased by 3.4% YoY for the same period, below the 3.5% estimate. At the same time, Initial Jobless Claims for the week...
Oil prices fell slightly in early US trading on Thursday, easing after recovering from recent lows, as sentiment remained strained amid concerns over a US recession and high production. Crude prices rebounded from more than three-year lows this week, boosted in part by a weak reading on US inflation, along with a weaker dollar. Data showing a much larger than expected drawdown in US gasoline inventories also helped ease some concerns about slowing demand. Oil is still on track to fall sharply so far in 2025, however, as traders worry about weakening demand in major economies amid a US-led...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is back below 104.00 after briefly rising on lower PPI figures. Markets await comments from US diplomats visiting Russia to discuss a ceasefire deal, which has been greenlit by Ukraine. Meanwhile, US President Donald Trump has threatened Europe with 200% tariffs on all wine and champagne coming from the region. On the economic front, a slew of data is due out this Thursday at 12:30 GMT. In addition to the weekly US Initial Jobless Claims, the US Producer Price Index (PPI)...
Gold traded higher on Thursday (3/13) even as the dollar strengthened after another report showed U.S. inflation eased last month. Gold for April delivery was last seen up $6.20 at $2,953.00 an ounce. The gains came as the U.S. Bureau of Labor Statistics reported the February Producer Price Index (PPI), a measure of wholesale prices, rose at an annualized pace of 3.2% in February, down from 3.7% a month earlier and below the FactSet consensus estimate for a reading of 3.3%. The core PPI, which excludes volatile food and energy prices, fell 0.1% from January, down from a 0.5% gain...
Silver (XAG/USD) price is trading near a monthly high of $33.40 during North American trading hours on Thursday (3/13). The white metal is gaining as easing US consumer and producer inflation pressures pave the way for the Federal Reserve (Fed) to cut interest rates at its June policy meeting. The US Producer Price Index (PPI) report showed that headline and core producer inflation slowed at a faster-than-expected pace to 3.2% and 3.4%, respectively, in the 12 months to February. The headline PPI remained flat month-on-month while the core figure declined by 0.1%. On Wednesday, the US...
Gold prices traded near their highest levels on Thursday, boosted by safe-haven demand amid tariff concerns and a U.S. inflation report that reinforced expectations of future interest rate cuts. Spot gold was up 0.5% at $2,946.68 an ounce, as of 1131 GMT. Bullion hit a record high of $2,956.15 on Feb. 24 amid uncertainty over U.S. tariffs. U.S. gold futures were up 0.3% at $2,956. "Gold prices continue to be supported by the prospect of a tariff-driven economic slowdown, which could potentially accelerate expectations of a U.S. Fed rate cut," said Ole Hansen, head of commodity strategy at...
EUR/USD corrected near 1.0860 during European trading hours on Thursday (3/13). The major currency pair fell as the Euro (EUR) faced slight pressure on a new escalation in a potential tariff war between the European Union (EU) and the United States (US). On Wednesday, US President Donald Trump said that he would respond to the EU's proposed retaliatory tariffs on 26 billion Euros worth of US goods. Trump's comments came just before a meeting with Irish Prime Minister Micheál Martin, after which he said that "there is a big deficit that we have with Ireland and with other countries" and...
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....