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...
EUR/USD climbs post-Fed, as policymakers keep rates unchanged but hint at a slower balance sheet runoff starting in April.Inflation remains "somewhat" elevated, with the Fed revising PCE and Core PCE higher, while GDP and unemployment estimates were lowered. Fed Governor Waller dissents, favoring an unchanged pace of balance sheet reduction, as markets digest mixed policy signals.The EUR/USD spkied on Wednesday after the US Federal Reserve decided to keep interest rates unchanged despite adopting a slightly hawkish approach to the future path of interest rates. At the time of writing, the...
USD/JPY hovers near 149.37, little changed after the Fed keeps rates unchanged but slows balance sheet reduction.Inflation remains "somewhat" elevated, with the Fed revising PCE and Core PCE higher, while GDP and unemployment estimates were lowered.Fed Governor Waller dissents, favoring an unchanged pace of balance sheet reduction as markets digest mixed policy signals.The USD/JPY pair climbs on Wednesday after the Federal Open Market Committee's (FOMC) decision to keep rates unchanged. Even though officials turned cautious on rates, the US Dollar (USD) failed to rally sharply. The pair...
The AUD/USD pair initially fell below 0.6330 following the Federal Reserve's (Fed) monetary policy decision but later trimmed part of its losses as the US Dollar (USD) lost ground post-Powell's press conference. The Fed left interest rates unchanged at 4.5%, reinforcing a cautious approach amid inflation and economic uncertainties. The latest FOMC dot plot signaled a gradual policy easing ahead, with the median rate forecast for 2025 revised down to 3.375% from 3.875%. GDP expectations were also adjusted lower to 1.7% from 2.1%, while unemployment projections rose to 4.4%, indicating...
Oil prices edged up on Wednesday after U.S. government data showed a draw in fuel inventories, but the Federal Reserve's decision to hold interest rates steady capped gains. Brent crude futures settled up 22 cents, or 0.31%, to $70.78 a barrel. U.S. West Texas Intermediate crude (WTI) closed 26 cents, or 0.39%, higher at $67.16. U.S. crude stocks rose by 1.7 million barrels last week to 437 million barrels, U.S. government data showed, exceeding the 512,000-barrel rise analysts had expected. However, distillate inventories, which include diesel and heating oil, fell by 2.8 million barrels...
Gold prices rallied sharply and hit a new all-time high of $3,052 on Wednesday as US Federal Reserve (Fed) Chair Jerome Powell spoke following the Fed's decision to hold rates unchanged. At the time of writing, the XAU/USD trades volatile within the $3,035-$3,050 range, up more than 0.20%. The Fed decided to keep rates unchanged at the 4.25%-4.50% range and tweaked its balance sheet, which is expected to run off in April. The Fed acknowledged that labor market conditions remain solid but noted that inflation remains "somewhat" elevated, reaffirming its commitment to monitoring risks to both...
Gold prices inched up on Wednesday as rising concerns over U.S. President Donald Trump's tariff plans and the Middle East boosted interest in the safe-haven asset, even as investors awaited the Federal Reserve's policy decision later in the day. Spot gold gained 0.2% to $3,039.38 an ounce as of 1202 GMT, after hitting an all-time peak of $3,045.24 earlier in the session. U.S. gold futures added 0.2% to $3,046.70. "Rising tensions in the Middle East are driving renewed safe-haven demand, with gold prices likely to gain further support as the April 2 deadline for U.S. universal tariffs...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, rose and recovered above 103.50 at the time of writing on Wednesday (3/19) as the US Dollar (USD) strengthened against most major currencies. The surge in the Greenback followed a sharp surge of more than 5% in the USD against the Turkish Lira (TRY) after headlines emerged that authorities had detained Istanbul Mayor Ekrem Imamoglu, a key political rival of President Tayyip Erdogan, on charges including corruption and aiding a terrorist group. On the economic data front,...
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv halt attacks on each other's energy infrastructure, a move that analysts said could eventually pave the way for Russian oil to enter global markets. Brent crude futures fell 11 cents, or 0.16%, to $69.97 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.18%, to $66.78. Russian President Vladimir Putin on Tuesday agreed to halt attacks on Ukrainian energy facilities but stopped short of a full 30-day ceasefire that Trump had sought. "Crude...
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....