The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve interest rate cut. Labor Department data showed that nonfarm payrolls increased by only 22,000 jobs last month, far short of the 75,000 positions estimated by economists polled by Reuters. The dollar fell across the board following the report. It weakened 0.70% to 147.44 against the Japanese yen , but was still on track for the second straight week...
Oil prices fell slightly in trade on Tuesday, losing some ground after pledges of more stimulus in top importer China and heightened geopolitical tensions in Syria sparked strong gains. Anticipation of more economic signals from China and the U.S. in the coming days also kept traders to the sidelines, as did caution over a monthly report from the OPEC. Brent oil futures expiring in February fell 0.2% to $72.0 a barrel, while West Texas Intermediate crude futures fell 0.2% to $67.96 a barrel by 20:44 ET (01:44 GMT). Oil prices rose over 1% on Monday after China's top political body...
Gold futures rise on safe-haven demand and central-bank purchases. Futures are up 0.5% at $2,699.30 a troy ounce. The precious metal found support from heightened geopolitical tensions, bolstering its appeal as a safe-haven asset, says Ricardo Evangelista, senior analyst at ActivTrades. China's central bank said it has resumed gold purchases after a six-month hiatus, adding further support, Evangelista writes. Expectations that the Federal Reserve will cut U.S. interest rates later this month have solidified among traders, boosting the appeal of non-interest bearing bullion and completing...
The Pound Sterling (GBP) consolidates in a tight range near 1.2750 against the US Dollar (USD) in Tuesday's European session. The GBP/USD pair trades sideways as investors focus on the United States (US) Consumer Price Index (CPI) data for November, which will be published on Wednesday. Economists expect the annual headline inflation to have accelerated to 2.7% from the October reading of 2.6%. In the same period, the core CPI which excludes volatile food and energy prices is expected to have risen steadily by 3.3%. The month-on-month headline and core CPI are estimated to have grown...
Oil prices slipped on Tuesday as concerns eased about the fallout from the overthrow of Syria's president, despite support from China's plan to ramp up policy stimulus - a potential boost to demand from the world's biggest crude buyer. Brent crude futures fell 24 cents to $71.90 per barrel at 1009 GMT. U.S. West Texas Intermediate was down 28 cents at $68.09. Both benchmarks had risen more than 1% on Monday. In Syria, rebels were working to form a government and restore order after the ouster of President Bashar al-Assad, with the country's banks and oil sector set to resume work on...
EUR/USD slides to near 1.0530 in Tuesday's European session as investors turn cautious ahead of the European Central Bank (ECB) monetary policy meeting, which will be announced on Thursday. Traders have priced in a 25-basis points (bps) reduction in the Deposit Facility Rate to 3%. This would be the third interest rate cut decision by the ECB in a row. Market experts assume that a slew of factors, including Donald Trump's victory in the United States (US) Presidential elections, political turmoil in France and Germany, and a sharp slowdown in the Eurozone business activity compelled...
Reserve Bank of Australia (RBA) Governor Michele Bullock is due to address a press conference and respond to media questions as part of a new reporting format for the central bank that started this year. The RBA maintained the benchmark interest rate at 4.35% for the ninth straight meeting earlier this Tuesday. The central bank, however, softened its hawkish tone, hinting at a dovish pivot early next year. This section below was published at 03:30 GMT to cover the Reserve Bank of Australia's monetary policy announcements and the initial market reaction. The Reserve Bank of Australia (RBA)...
The Australian dollar weakened past $0.64 on Tuesday, reversing gains from the previous session, after the Reserve Bank of Australia kept its policy rate unchanged at 4.35% for the ninth straight meeting. However, the slightly more dovish tone from the central bank in its policy statement fueled market expectations of an earlier rate cut than previously anticipated. Last week, data showed Australia's economy grew just 0.3% quarter-on-quarter in the three months to September, lower than the 0.4% growth expected by markets. In addition, business confidence in Australia weakened sharply in...
Gold rose above $2,660 an ounce on Tuesday, rising for a second straight session, supported by a shift in Chinese policy and geopolitical risks in the Middle East. China's ruling Politburo on Monday announced plans to ease monetary policy for the first time in 14 years to stimulate the economy, boosting market sentiment across commodities. In addition, China's central bank added gold to its reserves for the first time in seven months, bolstering demand for the precious metal. Geopolitical tensions in the Middle East, particularly the fall of the Syrian government, also added further...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....