The EUR/USD pair lost ground early in the European session and retreated to levels near 1.1700, amid volatile and volatile trading on Friday. Comments from ECB official Olly Rehn, who warned of downside risks to inflation, failed to support the euro (EUR), which remained weighed down by a stronger US dollar. On Thursday, the ECB maintained its Deposit Facility rate at 2%, and President Christine Lagarde said that "risks to economic growth have become more balanced." These comments dampened market expectations of further rate cuts in the near future and provided a significant boost to the...
Silver rose above $31 per ounce at the start of March, driven by a weaker dollar and safe-haven buying amid concerns over shifting US trade policy. Last week, US President Donald Trump announced that tariffs on Canadian and Mexican imports were set to take effect Tuesday, along with an additional 10% duty on Chinese shipments, bringing the cumulative tariff on China to 20%. In response, reports indicated that Beijing was preparing to impose countermeasures against US imports. Meanwhile, ongoing supply and demand uncertainties continued to weigh on sentiment. Hecla Mining, the largest US...
Gold prices were largely unchanged in Asian trading on Tuesday, supported by safe-haven demand as U.S. President Donald Trump's tariffs on Mexico and Canada came into effect. Spot Gold was steady at $2,892.98 per ounce, while Gold Futures expiring in April gained 0.1% to $2,903.87 an ounce by 00:23 ET (05:23 GMT). Gold steady as Trump tariffs on Mexico, Canada come into effect At 5:01 GMT on Tuesday, President Trump's administration implemented 25% tariffs on imports from Mexico and Canada, aiming to address concerns over illegal immigration and drug trafficking. Trump also signed an...
Oil prices continued to fall in on Tuesday after U.S. President Donald Trump paused military aid to Ukraine and as markets braced for U.S. tariffs on Canada, Mexico and China to take effect. Brent futures fell 54 cents, or 0.75%, to $71.08 a barrel by 0149 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.53%, to $68.01. The pause to all U.S. military aid to Ukraine confirmed by a White House official on Monday followed Trump's Oval Office clash with Ukrainian President Volodymyr Zelenskiy last week. The market has viewed the growing distance between the White House...
USD/CHF remains under pressure for the second consecutive day, hovering around 0.8960 during Tuesday's Asian session. The pair may decline further as the safe-haven Swiss Franc (CHF) strengthens amid escalating risk-off sentiment driven by growing concerns over a global tariff war. On Monday, the White House confirmed that President Trump signed an order raising tariffs on Chinese imports to 20%, while similar measures for Mexico and Canada are still pending. Trump also reiterated that reciprocal tariffs will take effect on April 2 for countries imposing duties on US goods. In response,...
Gold steadied around $2,880 per ounce on Tuesday, with investors assessing the economic outlook as U.S. President Donald Trump prepares to impose tariffs on key trade partners. On Monday, Trump confirmed that 25% tariffs on imports from Mexico and Canada would start later today, along with a doubling of China levies to 20%.He also reiterated that reciprocal tariffs would take effect on April 2 on countries that impose duties on U.S. products. These reignited fears of a global trade war that already showed signs of rising inflation and slowing economic growth — both of which support gold's...
The Japanese Yen (JPY) attracts some follow-through buying for the second straight day on Tuesday and moves back closer to a multi-month peak touched against its American counterpart last week. The hawkish sentiment surrounding the Bank of Japan's (BoJ) policy outlook continues to underpin the JPY. Moreover, concerns about the potential economic fallout from US President Donald Trump's tariff policies temper investors' appetite for riskier assets and further benefit the safe-haven JPY. Adding to this, Trump's threat to Japan over currency depreciation, along with subdued US Dollar (USD)...
The dollar index remained around 106.5 on Tuesday, after losing nearly 1% in the previous session, pressured by a strengthening euro and sterling amid growing hopes for a Ukraine peace deal. European leaders, led by the UK and France, pledged increased fiscal spending and announced plans to present a Ukraine peace proposal to the US. Concerns about the US economy and expectations of further interest rate cuts by the Federal Reserve also weighed on the dollar. The latest ISM report showed that US manufacturing slowed more than expected in February, driven by easing demand, slower production,...
EUR/USD continues its upward momentum for the second consecutive session, trading around 1.0490 during Asian hours on Tuesday. The Euro (EUR) is benefiting from improved market sentiment as hopes for a potential Ukraine peace deal reduce demand for safe-haven assets. European leaders, alongside Ukrainian President Volodymyr Zelenskyy and UK Prime Minister Keir Starmer, have agreed to draft a structured peace plan to be presented to the United States (US), bolstering risk appetite. According to Bloomberg, citing a defense official on Monday, the United States has halted all ongoing military...
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....