Silver held around $41/oz, near a 14-year peak, as the market awaited the US Consumer Price Index (CPI) release, which could determine the size of the Fed's interest rate cut next week. Wednesday's US Consumer Price Index (PPI) data fell 0.1% month-on-month (July revised down from +0.7%), missing the +0.3% forecast. Market participants had already priced in a 25 bps cut, with a 50 bps chance of around 8%. Safe haven demand also supported after President Donald Trump pushed the EU to consider tariffs of up to 100% on China and India to pressure Russia. On the industrial side, demand for...
Oil prices jumped on Monday after US President Donald Trump imposed tariffs on Canada, Mexico and China, raising concerns about disruptions to crude supplies from the two biggest suppliers to the US, but the prospect of lower fuel demand capped gains. U.S. West Texas Intermediate crude futures were at $73.89 a barrel, up $1.36, or 1.88%, by 0656 GMT, after hitting their highest since Jan. 24 at $75.18 a barrel earlier in the session. Brent crude futures rose 73 cents, or 0.96%, to $76.40 a barrel, after hitting a high of $77.34. Trump on Saturday ordered sweeping tariffs on goods from...
The US Dollar (USD) strengthened on the first trading day of February as markets cautiously responded to US President Donald Trump's tariff announcement. Later in the European session, January inflation data from the Eurozone will be closely watched by investors. In the second half of the day, the US economic calendar will feature the ISM Manufacturing PMI data for January. Meanwhile, market participants will be watching for headlines surrounding the Trump administration's trade policies. Trump announced on Saturday that they would impose tariffs of 25% on Mexican and Canadian imports and...
The USD/CHF pair extended its rally to near 0.9165 during early European trading hours on Monday (3/2). The US dollar (USD) surged after US President Donald Trump's massive tariffs triggered a trade war. The greenback strengthened by up to 0.60% against the Swiss franc (CHF), hitting a peak not seen since May 2024. The move came after Trump imposed 25% tariffs on imports from Mexico and Canada on Saturday, as well as new levies of 10% on Chinese products. However, the Wall Street Journal reported on Monday, citing unnamed sources, that the Chinese government is preparing an opening offer...
Silver (XAG/USD) price fell near $30.90 during the early European trading hours on Monday (03/1). Growing fears of a global trade war following US President Donald Trump's massive tariff measures boosted the US Dollar (USD) across the board and exerted selling pressure on the white metal. According to the 4-hour chart, the bullish outlook for the white metal remains intact, with the price holding above the key 100-period Exponential Moving Average (EMA). However, the Relative Strength Index (RSI) is hovering around the midline, suggesting that further consolidation cannot be ruled out. The...
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the sixth consecutive session on Monday. The AUD/USD pair dropped around 2% amid risk-off sentiment following US President Donald Trump's decision to impose import tariffs on China, one of Australia's key trading partners. On Saturday, the US announced plans to implement 25% tariffs on Canadian and Mexican goods, while Chinese exports would face a 10% tariff, according to Bloomberg. These tariffs, set to take effect on Tuesday, will remain in place until the fentanyl overdose crisis is "resolved." In...
Gold price (XAU/USD) trims a part of its heavy Asian session losses and currently trades around the $2,785 region, still down nearly 0.60% for the day. US President Donald Trump's decision to impose tariffs on Canada, Mexico, and China lifts the US Dollar (USD) back closer to over a two-year high. This turns out to be a key factor that drags the commodity away from the all-time peak, around the $2,717 region touched on Friday. That said, bets that the Federal Reserve (Fed) will lower borrowing costs twice by the end of 2025, along with concerns about the potential economic fallout from...
The dollar index surged over 1% to around 109.8 on Monday, approaching two-year highs after President Donald Trump imposed sweeping tariffs on key trading partners over the weekend, raising concerns about a potential resurgence in inflation. The US introduced 25% tariffs on goods from Mexico and Canada and a 10% levy on imports from China. In retaliation, Canada announced its own tariffs, Mexico indicated it would explore levies on US imports, and China stated it would file a lawsuit with the WTO. In response to the tariff news, traders scaled back their bets on Federal Reserve interest...
The Japanese Yen (JPY) drifts lower against its American counterpart for the second straight day on Monday and moves away from over a one-month high touched last week. Concerns about the economic fallout from US President Donald Trump's trade tariffs to a large extent, overshadow the hawkish Bank of Japan (BoJ) Summary of Opinions and undermine the JPY. Apart from this, a broad-based US Dollar (USD) rally pushes the USD/JPY pair to the 156.00 neighborhood, or a four-day top during the Asian session. Meanwhile, a rise in Tokyo's core inflation by the fastest annual pace in nearly a year...
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....