Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer tone made the market a little more willing to take risks, thus easing the pressure to buy gold as a safe haven. However, the big picture hasn't changed: gold remains in high territory because the world remains filled with uncertainty. Trade wars could resurface at any time, geopolitical tensions haven't completely subsided, and investors are...
The Australian Dollar (AUD) trades steady around the region 0.6300 against the US Dollar (USD) during Thursday's American session. The pair consolidates recent gains despite renewed weakness in the US Dollar, which faces selling pressure after tariff-related developments and market caution ahead of Friday's PCE inflation release. The AUD/USD pair trades within a tight range, reflecting market indecision but holding ground as optimism over China's stimulus pledges provides underlying support. Daily digest market movers: Australian Dollar holds steady as tariff tension weighs on USDThe...
Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world's economy. Brent crude futures gained 24 cents, or 0.3%, to settle at $74.03 a barrel. U.S. West Texas Intermediate crude futures rose 27 cents to $69.92. On Wednesday, oil prices rose about 1% to their highest since February. Market participants were weighing escalating trade war risks. U.S. President Donald Trump unveiled his plan on Wednesday to implement 25% tariffs on imported cars and light trucks effective next week, while those...
Gold price (XAU/USD) jumped higher on Thursday, gained over 1.00% at one point before fading back to $3,046 at the time of writing. The pop in the precious metal was infused by United States President Donald Trump, who issued fresh new tariffs. Trump signed a proclamation for a 25% tariff on auto imports on Wednesday. The squeeze in Gold prices accelerates just hours ahead of the US trading session on Thursday. In addition, President Trump suggested that further and mounting tariffs can be imposed on the European Union and Canada if both territories work together to "do the US economy...
The Pound Sterling (GBP) rises during the North American session against the Greenback even though US President Donald Trump enacted automotive tariffs on all cars made outside the United States (US). Initially, risk appetite deteriorated, but it has improved. Therefore, high-beta currencies like the Sterling advance, with GBP/USD trading near 1.2930, up 0.35%. GBP/USD rises as risk appetite rebounds, while UK seeks carve-out from new US trade measuresOn Wednesday, Trump announced 25% duties on imported automobiles, effective April 2. He said that he would announce additional tariffs next...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, lacks a substantial catalyst and might be flatlining going into Friday's PCE data, trading around 104.35 at the time of writing. The DXY edged higher overnight on the back of tariff comments from United States (US) President Donald Trump. An additional 25% levy on all auto imports was issued to come into effect on April 3 and countries such as Canada and the European Union were threatened with more tariffs if they look to team up in their response to the US. On the economic data...
Citi released its latest currency analysis, projecting a moderate strengthening of the Swiss Franc (CHF) against the US Dollar (USD) while anticipating a slight weakening against the Euro (EUR). The financial services company indicated that the Swiss National Bank's (SNB) monetary easing and the growing interest rate differential with the US and the eurozone are unlikely to significantly depress the CHF. Nonetheless, these measures could help to curb any substantial appreciation of the currency. Citi's currency strategists foresee the CHF trading within a core range of CHF0.85 to CHF0.90...
Gold climbed to another record high early on Thursday as the dollar weakened after U.S. President Donald Trump said he will impose 25% tariffs on auto imports into the United States. Gold for June delivery was last seen up US$37.60 to US$3,089.90 per ounce, rising above Tuesday's record close of US$3,044.00. Trump's impulsive tariffs threats are boosting safe-haven demand for gold, as global equity markets are roiled by the levies, which promise to boost inflation and slow global growth. "Ongoing uncertainty around tariffs after Trump's auto tariff announcement and the broader April...
Crude prices have climbed to one-month highs on heightening geopolitical risks and supply concerns, but Citigroup (NYSE:C) sees the likelihood of a lower trading range through most of 2025. At 08:30 ET (12:30 GMT), the benchmark Brent contract slipped 0.2% lower to $72.93 per barrel, after having risen back to levels around $74 a barrel on heightened geopolitical risks of U.S. policies that could hit Venezuela and Iran's oil exports. This reverses the oil sell-off in early March that took prices down to $69 a barrel, when the Organization of Petroleum Exporting Countries and allies, known...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....