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...
The pound (GBP) underperformed its peers at the start of the week as Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann dismissed the need for a "gradual and cautious" approach to monetary policy easing, as guided by the majority of BoE officials at the February monetary policy meeting and testimony to the Parliamentary Treasury Committee on Wednesday, due to deepening economic volatility around the world in a speech on Thursday. Mann argued against a moderate monetary expansion approach amid significant volatility in global markets. She also said that the basic...
EUR/USD is trading firmly around 1.0850 after recovering from early losses in the European session on Monday (3/10). The major currency pair strengthened as the US Dollar (USD) struggled to gain ground after last week's sharp decline. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, traded vulnerable near a fresh four-month low of 103.50. The outlook for the US Dollar remains uncertain as investors grow concerned about how US President Donald Trump's 'America first' policies will shape the economy. On Friday, comments from the President in an...
Gold's price (XAU/USD) stabilizes and consolidates within a tight range near the $2,900 level at the start of the week. Traders are mulling over comments from United States (US) President Donald Trump after an interview on Fox News over the weekend. When asked about the US economy, President Trump said that the economy is in a 'transition' phase, while markets have already floated the idea that the US economy is in a recession scenario. Meanwhile, Federal Reserve (Fed) Chairman Jerome Powell issued some remarks on Friday before the Fed's blackout period started. That blackout period...
The dollar weakened on Monday and traded near a four-month low against major currencies as concerns over a global trade war unsettled investors, lifting the safe-haven yen and Swiss franc. The market has been fixated on trade tensions since U.S. President Donald Trump imposed tariffs on major trading partners only to delay some of them for a month amid growing signs and concerns of a U.S. economic slowdown. That has caused investors to lose confidence in the U.S. economy, which has outperformed its peers. In currency futures, investors have cut their net long dollar position to $15.3...
Oil prices fell on Monday as concerns about the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers, cooled investor appetite for riskier assets. Brent crude was down 6 cents at $70.30 a barrel by 0720 GMT after closing up 90 cents on Friday. U.S. West Texas Intermediate crude was at $66.96 a barrel, down 8 cents after closing up 68 cents in the previous session. WTI fell for a seventh straight week, its longest losing streak since November 2023, while Brent fell for a third straight week after U.S. President Donald Trump...
Gold rose on Monday, supported by a weaker dollar and safe-haven inflows amid concerns about an escalating global trade war, while investors awaited further signals to gauge the Federal Reserve's interest rate stance. Spot gold was up 0.1% at $2,914.00 an ounce by 0701 GMT, while U.S. gold futures were up 0.2% at $2,920.10. The dollar index (.DXY), opens a new tab , hovered near a four-month low hit last week, making dollar-priced bullion cheaper for overseas buyers. "There are increasing downside risks to growth, while U.S. foreign policy is also a source of uncertainty, which adds to...
The Japanese Yen (JPY) remains on the front foot against its American counterpart through the Asian session on Monday, with the USD/JPY pair holding just above the lowest level since October touched in the aftermath of weaker US jobs report on Friday. Data released during the Asian session on Monday showed that the base pay in Japan surged to a 32-year high in January, while real cash earnings fell 1.8% on the back of persistent inflation. This comes on top of a growing confidence that bumper wage hikes seen last year will continue this year and backs the case for further interest rate...
Gold price (XAU/USD) continues with its struggle to gain any meaningful traction during the Asian session on Monday and remains confined in a familiar range held over the past week or so. The downside, however, remains cushioned amid fears of a global trade conflict, which continues to offer support to the safe-haven bullion. Furthermore, the growing acceptance that the Federal Reserve (Fed) will cut interest rates multiple times this year, bolstered by Friday's weaker US jobs data, turns out to be another factor acting as a tailwind for the non-yielding yellow metal. Apart from this,...
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....