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 USD/JPY pair is falling significantly to near 149.70 during North American trading hours on Tuesday. The pair tumbles as the Japanese Yen (JPY) outperforms its peers on expectations that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ Governor Kazuo Ueda signaled on Monday that monetary policy adjustments would become appropriate if the central bank achieves its 2% inflation target. Meanwhile, optimism about more wage hikes has also boosted BoJ hawkish bets. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4%...
The Pound Sterling (GBP) is advancing against the US Dollar (USD) on Tuesday due to an upbeat market mood as traders are relieved of United States (US) reciprocal tariffs, which are expected to be targeted on some of the US trading partners. This weakened the Greenback as seen by GBP/USD trading at 1.2950, up 0.22%. Sterling edges higher to 1.2950 amid calm markets, though looming inflation data and budget risks cap gainsThe economic docket is empty on both sides of the Atlantic, with traders eyeing the release of United Kingdom (UK) inflation figures on Wednesday and the UK Spring Budget....
Oil prices fell on Tuesday after Ukraine's President Volodymyr Zelenskiy agreed to a truce with Russia covering the Black Sea and energy infrastructure, though crude losses were limited by the prospect of global supply tightening due to threatened U.S. tariffs on countries buying Venezuelan production. Brent crude futures were down 15 cents, or 0.21%, at $72.85 a barrel by 1:14 pm ET (1714 GMT). U.S. West Texas Intermediate crude fell 25 cents, or 0.36%, to $68.86. Zelenskiy said the truce was effective immediately on Tuesday but added that he would seek more weapons from U.S. President...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading softer after markets digest headlines from the United States (US) President Donald Trump and his Vice President JD Vance. The index trades slightly above 104.00 at the time of writing os Tuesday, while markets assess two main stories. The first market driver comes from United States (US) President Donald Trump, who issued "secondary tariffs" of 25% on all goods from countries that still buy Oil from Venezuela. Trump eased off on the size and broadness of reciprocal...
Gold's price (XAU/USD) stabilises near $3,025 at the time of writing on Tuesday while markets are mulling tariff headlines from United States (US) President Donald Trump. The president issued an executive order on Monday to impose "secondary tariffs" of 25% on all imports from those countries buying Oil from Venezuela, which would mean a sharp rise in levies on goods from China and India. On Monday, Trump said reciprocal tariffs will be eased off for countries meeting US requests on reshoring their businesses and factories. He went further and said tariffs on cars, aluminum and...
Oil prices rose on Tuesday for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains. Brent crude futures were up 46 cents, or 0.6%, at $73.46 a barrel by 1023 GMT. U.S. West Texas Intermediate crude climbed 41 cents, also 0.6%, to $69.52. Both benchmarks rose more than 1% on Monday after U.S. President Donald Trump announced a 25% tariff on countries importing oil and gas from Venezuela. Oil is Venezuela's main export and China, which is...
The Pound Sterling (GBP) trades with caution against its major peers on Tuesday. The British currency struggles as United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves is prepared to unveil the Spring Statement on Wednesday. It would be interesting to watch how Reeves will promote economic prosperity, given his pledge of no more taxes and the maintenance of fiscal rules. After the Autumn Budget, Chancellor Reeves told at the Confederation of British Industry (CBI) conference in November that public services have to survive on their own means. Reeves clarified that the government...
The Australian Dollar (AUD) remained steady after Australian Treasurer Jim Chalmers presented the 2025/26 budget and the Treasury's key economic forecasts before Parliament on Tuesday, including new tax cuts, with two rounds totaling approximately A$17.1 billion. Australia's budget deficit is projected at A$27.6 billion for 2024-25 and A$42.1 billion for 2025-26. Australia's GDP is expected to grow by 2.25% in fiscal year 2026 and 2.5% in fiscal year 2027. The tax cuts are likely aimed at bolstering political support. The AUD finds support as investors anticipate the Reserve Bank of...
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....