Gold weakened slightly on Thursday (September 11), but held near record highs well above $3,600, as a modest dollar recovery and profit-taking weighed on prices, while investors awaited US consumer inflation data due later in the day. Spot gold fell 0.3% to $3,629.23 an ounce, as of 08:11 GMT. Bullion hit a record high of $3,673.95 on Tuesday. US gold futures for December delivery fell 0.4% to $3,666.70. The US dollar index rose 0.2% to a near one-week high against a basket of major currencies, making dollar-priced gold more expensive for overseas buyers. "Gold appears to be under some...
Aussie dips near 0.6280 amid trade gloom,RBA likely to cut rates to 4.1%, capping Aussie gains.Markets await US labor data for fresh momentum,Soft Trade Balance data from Australia also affected the Aussie.The Australian Dollar (AUD) softens to around 0.6280 in Thursday's American session, tallying nearly 0.30% losses. Expectations of a Reserve Bank of Australia (RBA) rate cut and revived United States (US)-China tariff anxieties hamper the pair's upside. Meanwhile, attention shifts to the United States labor market report on Friday, with the Aussie bracing for further volatility.On the...
Oil prices rose on Thursday after a sharp overnight decline as traders cautiously assessed escalating U.S.-China trade tensions, while data showing higher U.S. crude inventories reflected weak demand. At 9:10 a.m. ET (14:10 GMT), Brent crude futures were up 0.7% at $75.16 a barrel, while WTI crude futures expiring in March were up 0.8% at $71.61 a barrel. Sentiment had improved on Thursday after Saudi Aramco (TADAWUL:2222), the world's top oil exporter, detailed a sharp increase in prices for Asian buyers. "This is consistent with the strength we have seen in the physical Middle East...
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, jumped higher ahead of the US (US) trading session on Thursday (6/2), trading slightly above 108.00 at the time of writing. The move came after comments from US President Donald Trump expressing his intention to take over Gaza and reach a nuclear deal with Iran. In addition, a plan to end the war in Ukraine may be put forward this week or next by the Trump administration as well. On the economic data front, comments from US Treasury Secretary Scott Bessent sparked some support in US...
Gold prices were steady on Thursday after a five-session rally to an all-time high as trade tensions between the world's two largest economies raised concerns about economic growth and uncertainty over the future direction of U.S. interest rates. Spot gold edged up 0.1 percent to $2,867.93 an ounce by 1214 GMT after hitting an all-time high of $2,882.16 on Wednesday. U.S. gold futures were flat at 2,892.20. (Newsmaker23) Source: Reuters
EUR/USD corrected near 1.0360 in the late European session on Thursday. The major currency pair declined as the US dollar (USD) strengthened after a sharp decline in the last three trading days. The US Dollar Index (DXY), which tracks the greenback against six major currencies, recovered near 108.00 from a weekly low of 107.30. The US dollar recovery appears to be a result of investors' caution ahead of the January Nonfarm Payrolls (NFP) data, due for release on Friday. The upbeat ADP Employment Change data for January has given a positive impression to the official employment data. ADP...
Bank of Japan (BOJ) board member Naoki Tamura's remarks on Thursday (Feb. 6) have boosted the yen, as he suggested interest rates should reach at least 1% in the second half of the fiscal year starting in April 2025. Tamura, known for his hawkish stance, indicated that the BOJ should act in response to rising inflationary pressures from rising raw material and labor costs. Tamura's remarks have fueled market expectations of a near-term rate hike, with the yen strengthening against the dollar, which fell to a two-month low of 151.81 yen. Furthermore, the yield on the two-year Japanese...
The dollar edged up on Thursday, but stayed close to recent lows, as traders weighed receding trade war risks and looked ahead to Friday's key U.S. data, while sterling dipped ahead of the Bank of England's policy decision. The yen touched an eight-week top versus the U.S. dollar after a Bank of Japan policy board member advocated continued interest rate hikes, but pared the gains and was broadly flat in European trade. The dollar rose against a basket of peers to 108, but still hovered near the lowest level since the start of last week, with investors beginning to entertain prospects that...
Oil prices edged up on Thursday after Saudi Arabia's state oil company raised its March crude prices sharply, but the gains barely dented the previous day's slide in benchmark Brent crude. Brent crude futures rose 28 cents, or 0.4%, to $74.89 a barrel by 0952 GMT. U.S. West Texas Intermediate crude was up 35 cents, or 0.5%, at $71.38. Oil prices had plunged by more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signalled weaker demand while investors also weighed up the implications of a new round of U.S.-China trade tariffs, including duties on energy...
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....