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...
Gold fell to the lowest in a month as traders booked profits after a volatile week that saw prices whipsaw in the wake of Donald Trump's presidential election win and a Federal Reserve interest-rate cut. Bullion slumped by as much as 2.6% to $2,614.14 an ounce on Monday, the lowest intraday level since Oct. 10. That followed last week's 1.9% drop after Trump's victory spurred rallies in equity markets and the greenback. Strength in the S&P 500 Index and the US dollar "is frequently associated with a negative gold response as the USD is seen as moving higher for ‘good'...
Gold dropped on Monday, after a volatile week which saw prices whipsaw as the dollar surged in the wake of Donald Trump's election win a day before the Federal Reserve cut interest rates. Bullion traded near $2,665 an ounce after falling almost 2% last week. The precious metal received support from US central bank easing, but was buffeted as investors weighed the likely impact of the tax cuts, trade tariffs and looser regulations that Trump is pledging. While gold may benefit from demand as a hedge against inflationary pressures resulting from those policies, Wall Street economists...
Oil prices extended declines on Monday as the threat of a supply disruption from a U.S. storm eased and after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. 2 oil consumer.Brent crude futures dropped 19 cents, or 0.3%, to $73.68 a barrel by 0104 GMT while U.S. West Texas Intermediate crude futures were at $70.13 a barrel, down 25 cents, or 0.4%. Both benchmarks fell more than 2% last Friday. Beijing's stimulus package announced at the National People's Congress (NPC) standing committee meeting on Friday fell short of market expectations, IG...
Gold edged lower following a volatile week, in which it was whipsawed by a surging dollar in the wake of Donald Trump's election win and then a Federal Reserve rate cut. Bullion traded near $2,680 an ounce after falling almost 2% last week. The precious metal received support from the Fed reduction, but was buffeted as investors weighed the likely impact of tax cuts, trade tariffs and looser regulations that Trump is pledging. While gold may benefit from demand as a hedge against inflationary pressures resulting from those policies, Wall Street economists now see fewer Fed...
Gold (XAU/USD) fell about half a percent to trade around $2,680 on Friday (08/11), extending a short-term bearish trend that has been in place since it ended on Halloween. The decline came amid market expectations that President-elect Donald Trump's economic policies will be positive for the US Dollar (USD), as higher tariffs and tax cuts could keep interest rates high, supporting foreign capital inflows into the US currency. This, in turn, is expected to pressure Gold lower as it is mostly priced and traded in USD. Gold also won a bid as there was no mention at all of how the US...
Gold fell at the end of a volatile week's trading, as investors assessed the path ahead for US rates and the implications of Donald Trump's election victory. Bullion declined by as much as 1% Friday, on track for its biggest weekly fall since May. The precious metal had gained Thursday, after the Fed cut rates by a quarter point, even as Chair Jerome Powell said he didn't rule "out or in" a further cut in December, noting recent indicators suggested the economy was still expanding solidly. Thursday's gain partially helped to retrace Wednesday's 3% rout, when...
The U.S. dollar was steady on Friday, set to end a volatile week with modest gains as traders digested the implications of a new Trump presidency and a compliant Federal Reserve. At 4:30 a.m. ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was flat at 104.372. The index is on track for a gain of just 0.2% this week, even after rising 1.5% on Wednesday after Donald Trump's election victory, when it posted its biggest one-day gain since September 2022. The dollar jumped to a four-month high on Wednesday as traders braced for a new Trump...
Gold prices fell on Friday but held around $2,700 as markets reacted to the implications of Donald Trump's presidency and the Fed's latest interest rate decision. The Fed cut interest rates by 25 basis points as expected on Thursday, while signaling a cautious and considered stance on any further rate cuts. However, markets are pricing in higher rates from the Fed, as the new US president's policies—focused on raising tariffs, cutting taxes and deregulation—are expected to widen deficits and fuel inflation. Meanwhile, demand for gold remains strong. The World Gold Council reported that...
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....