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...
The Australian Dollar (AUD) strengthens for the second consecutive day on Friday, driven by US President Donald Trump's decision to postpone the implementation of reciprocal tariffs. Additionally, the AUD/USD pair appreciates as the US Dollar (USD) weakens amid falling US yields across the curve, despite ongoing concerns about a global trade war. Investors now await the release of US Retail Sales data later in the day. The AUD may face headwinds as expectations of a Reserve Bank of Australia (RBA) rate cut remain intact following fresh inflation outlook data. Consumer inflation expectations...
Oil steadied as the market digested the fallout from President Donald Trump's order of potential reciprocal tariffs on US trading partners.Brent was near $75 a barrel after a modest decline on Thursday, while West Texas Intermediate was above $71 a barrel. The US president signed a measure to propose new levies on a country-by-country basis. It could take weeks or months to complete, but raised the prospect of more trade tensions.Tariffs on crude from Canada and Mexico are set to start next month, alongside a levy on steel, but the US oil industry is confident it can win exemptions from the...
Gold edges higher in the early morning Asian session, supported by prospects of more U.S. tariffs which could spur safe-haven demand for the precious metal. President Trump on Thursday ordered federal agencies to explore how to adjust U.S. tariffs to match those of other countries. This is raising prospects of a global trade war, ANZ Research analysts say in a research report. Demand for gold has surged as investors seek to protect themselves against the impact of such a damaging economic event, the analysts say. Spot gold is 0.1% higher at $2,930.92/oz. Source : Dow Jones Newswires
Silver prices strengthened for the second straight day, posting a gain of over 0.48%. It is trading at $32.37 per troy ounce and is set to test the key resistance level at $32.64, a swing high on February 7. Tariffs are the name of the game and the most important driver during the North American session. US President Donald Trump has ordered advisers to draft ‘reciprocal' tariffs on US trading partners. From a technical perspective, Silver is trending higher but will face stiff resistance at $32.64. The Relative Strength Index (RSI) shows that buyers are gathering steam, and if they break...
GBP/USD strengthened on Thursday (2/13), rising more than nine-tenths of a percent to touch the 1.2560 region after economic data came out generally better than expected on both sides of the Atlantic. UK Gross Domestic Product (GDP) beat market forecasts, and US Producer Price Index (PPI) inflation figures eased investor concerns after a surge in consumer inflation this week. US President Donald Trump unveiled his latest idea for raising tax revenues in the face of sharp administrative tax cuts. "Reciprocal tariffs," a plan to impose fees on countries that impose tariffs on US goods, are...
Gold prices rose on Thursday as U.S. President Donald Trump announced plans to impose reciprocal tariffs on countries that tax U.S. imports, raising concerns about global trade. Spot gold rose 0.4% to $2,915.76 an ounce, resuming its record high of $2,942.70 hit on Tuesday. U.S. gold futures settled 0.6% higher at $2,945.40. Trump announced a roadmap on Thursday to impose reciprocal tariffs on any country that imposes duties on U.S. imports. U.S. producer prices rose sharply in January, providing further evidence of rising inflation and reinforcing financial market expectations that the...
Oil prices were mostly steady on Thursday, paring losses of more than 1% earlier in the session, as a potential peace deal between Russia and Ukraine continued to exert downward pressure, but expectations of a pause in new U.S. tariffs fueled optimism. Brent crude was down 17 cents, or 0.2%, at $75.01 a barrel by 11:15 a.m. CST (1715 GMT), while U.S. West Texas Intermediate (WTI) crude was down 1 cent, or 0.1%, at $71.38. U.S. President Donald Trump said in a social media post that he planned to announce reciprocal tariffs on Thursday, which could target any country that imposes duties on...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has fallen to 107.50 so far on Thursday. The knee-jerk reaction comes after stronger-than-expected US Consumer Price Index (CPI) data for January was released on Wednesday, which pushed the US Dollar higher. However, the turnaround came in the US trading session when United States (US) President Donald Trump and Russian President Vladimir Putin agreed over the phone to start peace talks with Ukraine. The economic calendar is focusing on US producer figures on Thursday....
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....