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 AUD/USD pair added to Tuesday's uptick and trespassed the 0.6300 hurdle despite a decent rebound in the Greenback. The pair extended gains on Wednesday, supported by softening United States (US) inflation data, which bolstered expectations that the Federal Reserve (Fed) may adjust interest rates sooner than previously anticipated. While the US Dollar (USD) attempted a recovery, risk sentiment remained favorable for the Australian Dollar (AUD), opening the door for a potential test of the monthly highs near 0.6360.Australian Dollar extends gains as US CPI weakensThe US Consumer Price...
Gold price rises late in the North American session, unfazed by high US Treasury bond yields and a stronger US Dollar on Wednesday. At the time of writing, XAU/USD trades with gains of 0.63% and changes hands at $2,933 after a US inflation report that was softer than projected. The US Bureau of Labor Statistics (BLS) revealed that consumer inflation in the United States (US) edged lower in February. Nevertheless, investors remain skeptical of the improvement as aggressive tariffs on US imports could trigger a second round of inflation.February's data increased the odds that the Federal...
The US Dollar steadies on Wednesday, with DXY hovering around 103.50 as traders digest the latest Consumer Price Index (CPI) data. The February inflation report showed both headline and core figures cooling faster than anticipated, reinforcing expectations of softer price pressures ahead of recently imposed United States (US) tariffs. US President Donald Trump was also on the wires, and markets are assessing his words.The latest CPI report showed inflation decelerating in February, with both monthly and yearly figures coming in below expectations.Monthly headline inflation registered at...
Oil prices jumped on Wednesday, extending earlier gains that were powered by a weaker U.S. dollar, although persistent concerns over the impact of tariffs on global demand limited the uptick. By 11:00 ET (15:00 GMT), Brent futures had gained 1.8% to $70.83 per barrel, while U.S. West Texas Intermediate crude futures had climbed by 2.1% to $67.65 a barrel. The greenback hovered around a five-month low against several major currency pairs, with investors pouring through trade tensions and a possible Russia-Ukraine ceasefire deal. A weakening in the dollar can provide a lift for oil prices...
Oil prices rose as the U.S. cut its forecast for a global glut and slower-than-expected inflation supported riskier assets. Brent crude rose above $70 a barrel after a modest gain on Tuesday, while West Texas Intermediate topped $67. U.S. consumer prices rose at the slowest pace in four months in February, offering some relief after months of stalled progress in taming inflation. Meanwhile, the Energy Information Administration cut its forecast for a surplus this year and halved its outlook for a supply glut by 2026, citing the prospect of reduced flows from Iran and Venezuela....
Gold prices as a safe-haven asset held steady on Wednesday, helped by tariff uncertainty and a cooler inflation report that kept bets for a US interest rate cut intact. Spot gold rose 0.1% to $2,917.93 an ounce by 1258 GMT. US gold futures edged up 0.1% to $2,923.80. Data showed that the US consumer price index rose 0.2% last month after rising 0.5% in January. However, the increase was likely temporary against the backdrop of aggressive import tariffs that are expected to raise the cost of most goods in the coming months. "Gold has been resilient but stuck in a range in recent weeks;...
The dollar struggled to recover from a five-month low against major currencies on Wednesday, as traders digested U.S.-EU retaliatory tariffs and a potential Russia-Ukraine truce, while awaiting U.S. inflation data amid concerns about the economy. President Donald Trump's unpredictable trade policy announcements have rattled markets and prompted retaliatory tariffs from trading partners, escalating a global trade war. The European Union will impose retaliatory tariffs on 26 billion euros ($28.39 billion) worth of U.S. goods starting in April, the European Commission said on Wednesday, in...
The pound (GBP) traded subdued against the other major currencies on Wednesday (12/3) as investors looked for fresh cues on next week's Bank of England (BoE) monetary policy meeting. Traders are confident that the BoE will keep interest rates unchanged at 4.5% as a number of officials have been guiding a ‘gradual and cautious' approach to monetary easing. Last week, four BoE policymakers, including Governor Andrew Bailey, guided for a gradual path to "unwinding monetary policy restraint" as persistent inflation is unlikely to fade "on its own". Contrary to them, BoE member Catherine Mann...
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....