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 US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has fallen to 107.50 so far on Thursday. The knee-jerk reaction comes after stronger-than-expected US Consumer Price Index (CPI) data for January was released on Wednesday, which pushed the US Dollar higher. However, the turnaround came in the US trading session when United States (US) President Donald Trump and Russian President Vladimir Putin agreed over the phone to start peace talks with Ukraine. The economic calendar is focusing on US producer figures on Thursday....
WTI crude oil futures fell by around 1% to $70.5 per barrel on Thursday, nearing a seven-week low, driven by optimism that peace talks between Russia and Ukraine, encouraged by President Trump, could lead to the easing of sanctions on Russian oil exports. Trump confirmed that talks would begin immediately and hinted at a possible meeting with Putin in Saudi Arabia, fueling speculation that the disruption to Moscow's oil supply could end. Meanwhile, concerns over Trump's threat of imposing new reciprocal tariffs on US trade partners added to market anxiety, potentially reducing economic...
Gold's price (XAU/USD) is rallying after traders bought Wednesday's dip and are driving prices back up to $2,920 at the time of writing on Thursday, while Bullion traders shrugging off the United States (US) Consumer Price Index (CPI) data for January released on Wednesday. Traders are also ignoring the possibility of a peace deal formation with United States (US) President Donald Trump and Russian President Vladimir Putin, who have spoken on the phone to outline a meeting soon to work out the broad strokes of a peace deal. Despite these quite substantial tail risks, Gold is rallying again,...
The dollar dropped versus most major peers as geopolitical developments increased appetite for riskier assets. The Bloomberg Dollar Spot Index halves a 0.3% drop which came at the back of hopes for a solution to the war in Ukraine; investors also awaiting clarity around possible reciprocal tariffs. The euro led Group-of-10 gains earlier as it rose by as much as 0.6% to $1.0440, one-week high; while it pares gains, it's still headed for a third daily advance, longest winning streak this year. USD/CHF down 0.7% to 0.9071, lowest since Feb. 7; Switzerland's inflation rate...
Oil fell for a second day after President Trump and his Russian counterpart Vladimir Putin agreed to talks on ending the war in Ukraine, prompting speculation that impediments to Moscow's supplies may ease. Global benchmark Brent dropped below $75 a barrel after falling 2.4% on Wednesday, the most in more than two months. Trump said negotiations would start immediately, and that he would probably meet with Putin in Saudi Arabia in the "not-too-distant future." Elsewhere, the International Energy Agency again cut its projections for a global oil surplus this year, citing...
Gold price (XAU/USD) sticks to modest intraday gains through the first half of the European session on Thursday, though it lacks follow-through and remains below the record high touched earlier this week. Investors remain worried that US President Donald Trump's trade tariffs might trigger a global trade war, which continues to act as a tailwind for the safe-haven bullion. Apart from this, a fresh leg down in the US Treasury bond yields drags the US Dollar (USD) to the weekly low and turns out to be another factor that benefits the commodity. Moreover, expectations that Trump's...
The EUR/USD pair continues its upward momentum for the third straight session, hovering around 1.0430 during Asian trading hours on Thursday. Investors await Germany's Final Harmonized Index of Consumer Prices (HICP) data, set for release later in the day. The headline German HICP inflation is expected to remain steady at 2.8% year-over-year in January.However, concerns over a potential global trade war are weighing on the risk-sensitive EUR/USD pair. The White House indicated late Wednesday that US President Donald Trump could announce his reciprocal tariff plan before meeting Indian Prime...
The USD/CHF pair weakens to near 0.9110, snapping the fifth-day winning streak during the early European session on Thursday. The concerns about US President Donald Trump's trade tariff and weakening of the US Dollar (USD) drag the pair lower. Investors brace for the US weekly Initial Jobless Claims and Producer Price Index (PPI), which are due later on Thursday. Fed Chair Jerome Powell on Wednesday emphasized that the central bank is in no rush to cut interest rates during a second congressional hearing this week but said that there has been "great progress" on inflation. The USD weakens...
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....