The U.S. dollar rose on Friday, a day after falling on a surge in U.S. jobless claims and modest inflation, as investors expected the Federal Reserve to cut interest rates next week after a roughly nine-month hiatus. The greenback rose 0.3% to 147.66 yen, on track for its largest percentage gain in 10 days, after rising for three straight weeks. The dollar firmed earlier on Friday after a U.S.-Japanese joint statement affirmed exchange rates should be "market determined" and that excess volatility and disorderly moves in exchange rates were undesirable. The dollar index was up 0.1% at...
Gold (XAU) price retreats as the week begins, down 0.70% and falls below the $2,900 figure as investors' fears of a recession in the United States (US) grow amid controversial trade policies implemented by the US President Donald Trump. At the time of writing, the XAU/USD pair trades at $2,890 after hitting a daily high of $2,918. Wall Street continued to edge lower, depicting a dismal market sentiment due to the ongoing economic slowdown. On Friday, Trump appeared in an interview and said, "There is a period of transition, because what we're doing is very big. …We're bringing wealth back...
The US Dollar (USD) remains under pressure on Monday, with DXY hovering around 103.95, struggling to find traction after last week's steep decline. Federal Reserve (Fed) Chair Jerome Powell's latest remarks on Friday reassured markets that the central bank sees no urgent need to adjust policy at the moment, though economic uncertainties are growing. Meanwhile, the Nasdaq is facing heavy market losses, down 3.3%, as investors remain cautious ahead of key United States (US) inflation data due midweek.Fed in focus as CPI loomsMarket participants are bracing for the release of February's...
Oil prices were down 1% on Monday on fears that U.S. tariffs on Canada, Mexico and China would slow economies around the world and slash energy demand while OPEC+ ramps up its supply. Brent crude oil futures futures settled at $69.28 a barrel, down $1.08, or 1.5%. U.S. West Texas Intermediate futures settled at $66.03 a barrel, shedding $1.01, 1.5%. Last week marked WTI's seventh consecutive weekly decline, the longest losing streak since November 2023, while Brent fell for a third consecutive week. U.S. President Donald Trump's protectionist policies have roiled markets across the world,...
WTI crude oil futures fell to the $66.5 per barrel mark on Monday, near the six-month low of $66.3 from two sessions prior amid the outlook of weaker demand and ample supply. US President Donald Trump and Treasury Secretary Scott Bessent signaled that the US could have a period of economic hardship in the medium term due the their unleashing of trade wars with Canada, China, and Mexico, in addition to pledges of aggressive cuts in public spending. In China, fresh data showed that both consumer and producer prices fell more than expected in February, raising concerns that consumption for...
USD/CHF pair posts a fresh three-month low around 0.8760 at the start of the week. The pair weakens as the safe-haven demand of the Swiss Franc (CHF) increases amid deepening concerns over the United States (US) economic outlook. Investors see the US economy to face economic turbulence in the near term as the "America First" agenda of President Donald Trump is expected to result in a slowdown in the overall demand. On Friday, Trump said in an interview with Fox News that there is a period of "transition", because what we are doing is very "big".Fears of a US growth slowdown have prompted...
Oil prices held steady on Monday as concerns over the impact of U.S. tariff uncertainty and rising output from OPEC+ producers weighed on prices while potential sanctions on Iranian oil exports provided some support. Brent crude was up 9 cents at $70.45 a barrel by 1310 GMT. U.S. West Texas Intermediate crude was at $67.19, up 15 cents. Last week marked WTI's seventh straight weekly loss, its longest losing streak since November 2023, while Brent fell for a third straight week. U.S. President Donald Trump's protectionist policies have rattled markets around the world, imposing and then...
Gold eased on Monday as a slight rise in the U.S. dollar dented safe-haven demand amid trade war concerns, while investors awaited inflation data this week for clues on the Federal Reserve's next interest rate decision. Spot gold fell 0.2% to $2,905.05 an ounce by 1201 GMT, while U.S. gold futures were steady at $2,911.60. The dollar index (.DXY), opens a new tab , pared losses slightly after hitting a more than four-month low on Friday. Quantitative Commodity Research analyst Peter Fertig said the dollar's strength was weighing on bullion and he expects further correction below...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, traded in a very mixed pattern on Monday (3/10) and held above a four-month low of 103.50 set on Friday. Traders are considering the latest comments from US President Donald Trump, who commented on the US economy during a Fox News interview over the weekend. The president said the US economy is in a transition period, which is accompanied by some pain, while markets have questioned in recent days whether the US economy is not in a recession. On the economic data front,...
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....