Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs data outweighed August's Consumer Price Index (CPI) report as the number of Americans filing for unemployment benefits rose. XAU/USD trades at $3,635 after hitting a daily high of $3,649. Bullion edges lower after soft CPI and higher Jobless Claims boost easing odds The US Bureau of Labor Statistics (BLS) revealed that inflation remained steady on the consumer side, with headline CPI standing...
Silver prices hit their highest since late October on Friday, latching on to factors that drove gold to successive record highs, with some analysts suggesting investors in the metal may aim to challenge a 10-year high just shy of $35 per ounce. However some analysts were cautious on the market's trajectory, given higher volatility in silver and a failure to reach similar dizzying heights as gold in 2024. Spot silver was last up 2% at $33 per ounce, having hit its highest level since late October at $33.41. The white metal scaled a more than 10-year peak of $34.87 per ounce on October 22....
The GBP/USD pair trades with mild gains near 1.2585 during the early Asian session on Monday. The major pair edges higher amid the upbeat UK Gross Domestic Product (GDP) report and weaker US Retail Sales data. The US market will be closed on Monday in observance of President's Day. US Retail Sales posted the biggest drop in nearly two years, dragging the Greenback lower. Retail Sales dropped 0.9% in January after an upwardly revised 0.7% increase in December, the Commerce Department's Census Bureau reported Friday. This figure came in weaker than the estimation of a 0.1% decline. On a...
Japanese Yen bulls retain control amid rising bets for additional BoJ rate hikesThe Japanese Yen attracts strong follow-through buying in reaction to the upbeat Q4 GDP.Optimism over the delay of Trump's reciprocal tariffs provides an additional boost to the JPY.The USD languishes near a two-month low and further contributes to the USD/JPY pair's slide. Japanese Yen bulls retain control amid rising bets for additional BoJ rate hikes The Japanese Yen attracts strong follow-through buying in reaction to the upbeat Q4 GDP.Optimism over the delay of Trump's reciprocal tariffs provides an...
The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third straight day on Monday, supported by US President Donald Trump's decision to delay the implementation of reciprocal tariffsThe AUD/USD pair also appreciates as the US Dollar (USD) weakens as disappointing US retail sales report has reignited speculation that the Federal Reserve (Fed) may cut interest rates later this year, despite ongoing inflation concerns. The upside of the AUD/USD pair could be restrained amid rising speculation of the Reserve Bank of Australia (RBA) rate cut on Tuesday....
The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third straight day on Monday, supported by US President Donald Trump's decision to delay the implementation of reciprocal tariffsThe AUD/USD pair also appreciates as the US Dollar (USD) weakens as disappointing US retail sales report has reignited speculation that the Federal Reserve (Fed) may cut interest rates later this year, despite ongoing inflation concerns. The upside of the AUD/USD pair could be restrained amid rising speculation of the Reserve Bank of Australia (RBA) rate cut on Tuesday....
The dollar index remained below 107 on Monday, hovering at its lowest level in over two months, as weak US economic data increased expectations of further Federal Reserve interest rate cuts. On Friday, data showed that US retail sales fell 0.9% in January, significantly worse than the anticipated 0.1% decline, with consumer spending likely impacted by severe weather and wildfires in California. While both CPI and PPI came in above forecasts, the PPI components feeding into the Fed's preferred inflation gauge, the PCE index, showed signs of cooling. The dollar also weakened as President...
West Texas Intermediate (WTI) Oil price rebounds from losses in the previous session, trading around $70.60 per barrel during Monday's Asian hours. However, crude Oil prices faced headwinds as optimism surrounding a potential peace deal between Russia and Ukraine eased supply concerns. The possible removal of sanctions on Moscow could boost global energy supplies. According to BBC sources, Trump administration officials are scheduled to meet with their Russian counterparts in Saudi Arabia on Tuesday to discuss a potential peace agreement. This meeting marks a significant step in restoring...
EUR/USD halts its four-day winning streak, hovering around 1.0490 during Asian trading hours. Liquidity during the North American session may remain thin as all major US financial markets will be closed on Monday for the federal holiday, Presidents' Day. The EUR/USD pair gained ground recently due to delays in implementing US President Donald Trump's reciprocal tariffs, which are taking longer than analysts had anticipated. Additionally, disappointing US economic data has pressured the US Dollar (USD), providing further support for the EUR/USD pair. A weaker-than-expected US retail sales...
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....