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...
USD/CHF loses ground as the US Dollar weakens for the third consecutive session on Wednesday.Safe-haven demand for the Swiss Franc rises due to escalating US-China trade tensions.Traders await Thursday's Swiss Unemployment Rate to gain further insight into the labor market.USD/CHF continues its decline for the second straight day, trading near 0.9030 during European hours on Wednesday. This downturn is primarily driven by a weaker US Dollar (USD), which is undergoing a technical correction. The US Dollar Index (DXY), which tracks the USD against six major currencies, remains under pressure...
DXY remains under pressure, testing 107.35 support despite upbeat ADP and S&P Global PMI data.ISM Services PMI disappoints, signaling weaker-than-expected service sector growth and moderating price pressures.US 10-year yield rebounds, hovering around 4.40% after touching a yearly low.The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of currencies, struggled to recover losses on Wednesday and declined against most major peers. Despite stronger than expected ADP Employment and S&P Global PMI data, the ISM Services PMI fell short of forecasts, casting doubt...
Aussie nears 0.6300 amid cautious optimism on Wednesday.Investors eye possible February rate cut from RBA.Mid-tier US data came in mixed and weighed on the USD.The Australian Dollar (AUD/USD) edges toward 0.6300, buoyed by mixed United States data that softened the Greenback and lifted broader risk assets. Nonetheless, anticipation of a dovish Reserve Bank of Australia (RBA) move next month tempers upside potential. Ongoing US-China trade tensions further cloud the outlook, restraining a more decisive rally in the Aussie.President Donald Trump's additional tariff on Chinese imports remains...
Silver price gives up a majority of intraday gains after the release of the upbeat US private employment data for January.Strong labor demand would force the Fed to maintain the status quo for longer.Investors expect the trade war would be limited between the US and China.Silver price (XAG/USD) surrenders almost its entire intraday gains and falls back to near $32.00 in Wednesday's North American session. The white metal faces selling pressure as the US Dollar (USD) attempts to gain ground on the back of upbeat United States (US) ADP Employment Change data for January. The US Dollar Index...
Gold rose further to surpass the $2,860 per ounce mark in February, a fresh record, tracking the gains for US Treasuries amid growing expectations of lower interest rates and lingering concerns of geopolitical risk and barriers to global trade. US services sector activity tracked by the ISM rose less than expected in January and prices faced by firms decelerated. Consequently, rate traders increased positions that reflect two rate cuts by the Federal Reserve this year, aligning with the last FOMC projections. Also, the ECB and the BoC lowered rates with the latter ending quantitative...
Iran's President Masoud Pezeshkian has called for solidarity among OPEC members in response to potential U.S. sanctions that could target the country's oil exports. This appeal came after U.S. President Donald Trump announced intentions to renew his "maximum pressure" campaign on Iran, which could significantly impact global oil supply. At a meeting with OPEC Secretary General Haitham Al Ghais, Pezeshkian stressed the importance of unity within the organization to withstand possible U.S. sanctions. The Iranian president highlighted that collaborative efforts could prevent the U.S. from...
EUR/USD struggles to extend its upside move above 1.0430 in Wednesday's North American session. The upside move in the major currency pair appears to be stalling as the US Dollar (USD) strives to gain ground after the release of upbeat United States (US) ADP Employment Change for January. The ADP Research Institute reported that the private sector hired 183K workers in January, higher than estimates of 150K and the prior release of 176K, revised significantly higher from 122K. Upbeat private employment is expected to boost market expectations that the Federal Reserve (Fed) will keep...
Gold rose to a new record high, as trade war concerns boosted haven demand and there were signs of continued short-term tightness in the market. Bullion rose as much as 1.2% to above $2,877 an ounce on Wednesday. Prices have been supported by concerns about the impact of trade tensions, particularly between the U.S. and China. The market is also waiting to see if there will be a ripple effect for U.S. monetary policy if tariffs rekindle inflation. There are signs of rising demand for gold as primary dealers look to shift the metal to the U.S. before any tariffs are imposed. So-called...
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....