The U.S. dollar drifted lower Thursday on growing expectations of further interest rate cuts by the Federal Reserve this year, while signs of French political accord helped the euro. At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 98.342, headed for a weekly decline of 0.3%. More Fed cuts ahead?Market participants are becoming increasingly convinced that the U.S. central bank will follow last month's interest rate cut with more monetary easing as data points to growth slowing in the world's largest...
Silver (XAG/USD) prices fell for the third straight day, trading around $30.60 per troy ounce during the Asian session on Tuesday (12/11). The precious metals sector, including Silver, faced pressure due to reduced demand for safe-haven assets. Traders are increasingly turning to riskier assets as markets assess the potential impact of US President-elect Trump's fiscal policy and monetary strategy. The possibility of tariffs being implemented early in Trump's term could lead to inflation, which in turn could cause the Federal Reserve (Fed) to delay its expected easing measures in the coming...
The Japanese Yen (JPY) fell again in Asia to levels below 154.00 against the US currency, although there was no follow-through buying amid uncertainty over the Bank of Japan's (BOJ) rate hike plans. Japan's fragile minority government is expected to make it difficult for the BOJ to tighten its monetary policy. Moreover, the BOJ's Summary of Opinions from its October meeting revealed that policymakers were divided on whether to raise interest rates again. This, coupled with concerns over President-elect Donald Trump's tariffs returning, supported the JPY. Meanwhile, Trump's expansionary...
The Australian dollar depreciated past $0.656 on Tuesday(12/11), sliding toward its weakest levels in three months as the greenback continued to dominate on expectations that US economic outperformance and aggressive trade practices under a Trump presidency could drive up inflation. Additionally, weak economic data and a disappointing stimulus package from China, a key trading partner, added further pressure. The Australian dollar is often seen as a liquid proxy for the Chinese yuan, and its decline reflects ongoing concerns about China's economic outlook. Domestically, Australia's consumer...
West Texas Intermediate (WTI), the US crude oil benchmark, was trading around $68.00 on Tuesday (11/12). WTI prices moved lower amid concerns that the Trump administration will trigger a tariff-led trade war and concerns about demand growth in China. Donald Trump's victory in the US presidential election may continue to affect WTI prices. Trump has announced his intention to impose blanket tariffs ranging from 10% to 20% on all imports and additional tariffs on up to 60% of products imported from China. A renewed trade war with China is also likely to hurt economic growth in China, delaying...
Bullion prices were steady after falling 2.5% in the previous session. The dollar gauge rose to its highest in a year, with markets expecting more gains related to Trump's trade tariffs and solid U.S. economic growth. A stronger dollar makes commodities priced in the currency more expensive for most buyers. The precious metal has fallen more than 4% since last week's election, as hedge funds unwound bullish bets and exchange-traded fund flows became less supportive amid a broad rotation into U.S. equities. The selling was also "partly technical" after a break below its 50-day moving average...
Harga perak (XAG/USD) melanjutkan penurunannya baru-baru ini berada di area $30-an per troy ons pada Selasa (12/11) yang merupakan level terendah dalam hampir dua bulan karena lonjakan baru dalam sentimen risiko menekan permintaan. Sementara prospek kebijakan fiskal ekspansif di AS menjelang masa jabatan kedua Donald Trump mendorong investor untuk beralih dari aset aman ke ekuitas dan mata uang dolar AS, sehingga menekan perak. Sebaliknya, Tiongkok menahan diri untuk tidak menciptakan aliran stimulus fiskal baru dan memilih untuk merestrukturisasi utang publik dalam langkah-langkah fiskal...
Oil extended declines as a soft outlook for demand in China, the world's largest crude importer, continued to plague the market. West Texas Intermediate retreated 3.3% to settle near $68 a barrel, while Brent settled below $72. Data over the weekend showed anemic Chinese consumer inflation in October and another decline in factory-gate prices. The dollar climbed further, making commodities priced in the currency less appealing. The retreat in crude prices comes alongside weakness in key market indicators. The nearest WTI futures contract traded at its...
Gold fell to a near two-month low on Monday as the dollar continued to rally following Donald Trump's win in the U.S. presidential election. Gold for December delivery was last seen down US$74.90 to US$2,619.00 per ounce, the lowest since Sept.19. The drop comes as the dollar rose to the highest since July, with the ICE dollar index last seen up 0.58 points to 105.58. The currency's rally began after Trump defeated Vice-President Kamala Harris in the Nov. 5 election and comes despite a second cut to U.S. interest rates on Thursday by the Federal Reserve. "An eventful week that saw...
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....