Silver price (XAG/USD) extends its winning streak for the third successive session, marking a fresh 14-year high at $42.17 during the Asian hours on Friday. The precious Silver attracts buyers as market expectations for three Federal Reserve (Fed) rate cuts this year increase after US Weekly Initial Jobless Claims climbed to their highest since October 2021. The increased jobless claims, along with last week's weak Nonfarm Payrolls report, overshadow a hotter-than-expected consumer inflation reading. It's worth noting that when interest rates are low, investors often turn to non-yielding...
The Australian Dollar (AUD) remains subdued against the US Dollar (USD) for the fourth consecutive day on Wednesday. The AUD/USD pair remains under pressure after Australia's monthly Consumer Price Index (CPI) showed a 2.5% year-over-year rise in January, matching December's increase. This fell short of market expectations for 2.6% growth. China's Commerce Ministry announced on Wednesday that the country's International Trade Representative and Vice Minister of Commerce, Wang Shouwen, met with US business leaders. The discussions focused primarily on tariffs, though no further details were...
USD/JPY pair rebounds to near 149.30 during the Asian trading hours on Wednesday. However, the global risk-off sentiment and rising bet of more interest-rate hikes from the Bank of Japan (BoJ) might boost the Japanese Yen (JPY) and cap the upside for the pair. The BOJ is anticipated to raise rates from 0.50% to 0.75% this year, which could influence investor sentiment and support the JPY. Overnight index swaps are fully pricing an increase in borrowing costs by September and pricing in a 50% odd move as soon as June, according to Bloomberg. Japan's Services Producer Pricing Index (PPI)...
The Gold price (XAU/USD) recovers some lost ground after reaching a one-week low in the previous session. The uncertainty and ongoing fears of instability around US President Donald Trump's tariff plans provide some support to the yellow metal, a traditional safe-haven asset. Nonetheless, analysts believe that Trump's plans for higher tariffs have raised inflation worries at the US Federal Reserve (Fed), which might convince the US central bank to keep interest rates higher for longer. This, in turn, might cap the upside for the precious metal as higher interest rates tarnish non-yielding...
The U.S. dollar sagged near an 11-week low against its major peers on Wednesday, under pressure from sliding short-term Treasury yields after a run of weak economic data. The safe-haven yen strengthened towards its highest level since October with investor sentiment fragile amid the threat of new rounds of tariffs from the administration of U.S. President Donald Trump, whereas the Canadian dollar hovered near a two-week trough with additional levies due to hit next week. "U.S. data flow on net is now disappointing expectations, calling into question the U.S. exceptionalism narrative that...
Gold edges higher in early Asian trade likely due to a technical recovery after front-month Comex gold futures fell sharply overnight. However, demand for safe-haven assets could keep gold prices near record levels, FlowCommunity's Ruben Ferreira says in an email. Market volatility has increased after U.S. President Trump said tariffs on Mexico and Canada were set to move forward next week, the head of Portuguese Operations says. This has damped hopes for an easing in trade tensions and could drive more bullish sentiment for the precious metal, Ferreira adds. Spot gold is 0.2% higher at...
Silver prices plunged over 1.80% on Tuesday (25/2), which saw the grey metal hit an intraday peak of $32.48, before dipping below the $32.00 mark on risk aversion and traders booking profits amid uncertainty over US trade policy. XAG/USD was trading at $31.73 unchanged as Wednesday's Asian session began. (Newsmaker23) Source: FXstreet
Oil prices plunged about 2% to their lowest in two months on Tuesday as weak economic news from the U.S. and Germany fueled concerns about slowing energy demand, along with signs from some countries that oil production would increase. Brent crude futures fell $1.76, or 2.4%, to settle at $73.02 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.77, or 2.5%, to settle at $68.93. That was the lowest close for Brent since Dec. 23 and WTI since Dec. 10. U.S. data showed consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February, with 12-month inflation...
Gold prices fell to their lowest in more than a week on Tuesday, as investors booked profits after hitting a record high in the previous session on lingering concerns about instability surrounding U.S. President Donald Trump's tariff plans. Spot gold fell 1.4% to $2,909.59 an ounce by 1:46 a.m. (1846 GMT), after hitting its lowest since Feb. 17 earlier in the session. It hit a high of $2,956.15 on Monday. U.S. gold futures settled 1.5% lower at $2,918.80. "You're seeing profit-taking and people looking to get out and rebuild positions at lower prices," said Bob Haberkorn, senior market...
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....