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...
Oil prices were down 1% on Monday on fears that U.S. tariffs on Canada, Mexico and China would slow economies around the world and slash energy demand while OPEC+ ramps up its supply. Brent crude oil futures futures settled at $69.28 a barrel, down $1.08, or 1.5%. U.S. West Texas Intermediate futures settled at $66.03 a barrel, shedding $1.01, 1.5%. Last week marked WTI's seventh consecutive weekly decline, the longest losing streak since November 2023, while Brent fell for a third consecutive week. U.S. President Donald Trump's protectionist policies have roiled markets across the world,...
WTI crude oil futures fell to the $66.5 per barrel mark on Monday, near the six-month low of $66.3 from two sessions prior amid the outlook of weaker demand and ample supply. US President Donald Trump and Treasury Secretary Scott Bessent signaled that the US could have a period of economic hardship in the medium term due the their unleashing of trade wars with Canada, China, and Mexico, in addition to pledges of aggressive cuts in public spending. In China, fresh data showed that both consumer and producer prices fell more than expected in February, raising concerns that consumption for...
USD/CHF pair posts a fresh three-month low around 0.8760 at the start of the week. The pair weakens as the safe-haven demand of the Swiss Franc (CHF) increases amid deepening concerns over the United States (US) economic outlook. Investors see the US economy to face economic turbulence in the near term as the "America First" agenda of President Donald Trump is expected to result in a slowdown in the overall demand. On Friday, Trump said in an interview with Fox News that there is a period of "transition", because what we are doing is very "big".Fears of a US growth slowdown have prompted...
Oil prices held steady on Monday as concerns over the impact of U.S. tariff uncertainty and rising output from OPEC+ producers weighed on prices while potential sanctions on Iranian oil exports provided some support. Brent crude was up 9 cents at $70.45 a barrel by 1310 GMT. U.S. West Texas Intermediate crude was at $67.19, up 15 cents. Last week marked WTI's seventh straight weekly loss, its longest losing streak since November 2023, while Brent fell for a third straight week. U.S. President Donald Trump's protectionist policies have rattled markets around the world, imposing and then...
Gold eased on Monday as a slight rise in the U.S. dollar dented safe-haven demand amid trade war concerns, while investors awaited inflation data this week for clues on the Federal Reserve's next interest rate decision. Spot gold fell 0.2% to $2,905.05 an ounce by 1201 GMT, while U.S. gold futures were steady at $2,911.60. The dollar index (.DXY), opens a new tab , pared losses slightly after hitting a more than four-month low on Friday. Quantitative Commodity Research analyst Peter Fertig said the dollar's strength was weighing on bullion and he expects further correction below...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, traded in a very mixed pattern on Monday (3/10) and held above a four-month low of 103.50 set on Friday. Traders are considering the latest comments from US President Donald Trump, who commented on the US economy during a Fox News interview over the weekend. The president said the US economy is in a transition period, which is accompanied by some pain, while markets have questioned in recent days whether the US economy is not in a recession. On the economic data front,...
The pound (GBP) underperformed its peers at the start of the week as Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann dismissed the need for a "gradual and cautious" approach to monetary policy easing, as guided by the majority of BoE officials at the February monetary policy meeting and testimony to the Parliamentary Treasury Committee on Wednesday, due to deepening economic volatility around the world in a speech on Thursday. Mann argued against a moderate monetary expansion approach amid significant volatility in global markets. She also said that the basic...
EUR/USD is trading firmly around 1.0850 after recovering from early losses in the European session on Monday (3/10). The major currency pair strengthened as the US Dollar (USD) struggled to gain ground after last week's sharp decline. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, traded vulnerable near a fresh four-month low of 103.50. The outlook for the US Dollar remains uncertain as investors grow concerned about how US President Donald Trump's 'America first' policies will shape the economy. On Friday, comments from the President in an...
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....