The US dollar held steady on Wednesday (September 10th) ahead of US inflation data this week that could help shape the Federal Reserve's policy outlook, while tense geopolitical conditions supported currencies like the Swiss franc. Last week's employment data showed that the US economy created far fewer jobs than expected last year, making a Fed interest rate cut next week seem a certainty. However, this did not shake confidence in equity markets, where stocks are trading at record highs, nor did it have a direct impact on the dollar itself, although investors are considering the...
The EUR/USD pair fluctuates near a one-month low and is on track for its first monthly decline since December of last year. The euro remains weak, weighed down by negative reactions to the trade deal between the European Union (EU) and the United States (US). Investors are also eyeing the latest second-quarter GDP figures from major European economies, with France growing higher than expected and Germany recording a mild contraction. Eurozone Gross Domestic Product (GDP) figures and the Federal Reserve's interest rate decision are due soon. The euro (EUR) posted a slight recovery from a...
Silver prices held around $38 per ounce on Wednesday, hovering near two-week lows as investors remained cautious ahead of the Federal Reserve's policy announcement. The Fed is widely expected to keep interest rates unchanged, though markets are closely watching for signals of a possible rate cut in September. President Donald Trump has continued pressuring the Fed to lower borrowing costs. Fed Governors Christopher Waller and Michelle Bowman, both seen as potential successors to Fed Chair Jerome Powell. are expected to dissent at this month's meeting. Meanwhile, trade tensions persisted...
Oil prices took a breather in Asian trade on Wednesday after the previous session's spike of more than 3%, as investors awaited developments from U.S. President Donald Trump's tighter deadline for Russia to end the war in Ukraine. Most active Brent crude futures rose 8 cents, or 0.12%, to $71.81 a barrel by 0419 GMT, while U.S. West Texas Intermediate crude gained 8 cents, or 0.12%, to $69.29 a barrel. The Brent crude September contract expiring on Wednesday was up 18 cents at $72.69 per barrel. Both contracts had settled on Tuesday at their highest since June 20. On Tuesday, Trump said...
Gold prices edged up on Wednesday, supported by lower Treasury yields and a slight pullback in the dollar, while investors await the Federal Reserve's policy decision later in the day for guidance on the monetary policy trajectory. Spot gold was up 0.1% at $3,328.65 per ounce as of 0422 GMT. U.S. gold futures rose 0.1% to $3,326.10. "There could be a chance that the Fed may start to tilt towards the dovish side of the pendulum, and that is being portrayed on the Treasury yields," OANDA senior market analyst Kelvin Wong said, adding that dollar strength has also eased for now. The U.S....
The Japanese Yen (JPY) edges higher against the retreating US Dollar (USD) during the Asian session on Wednesday and moves away from a one-week low touched the previous day. The upside for the JPY, however, seems limited as traders might opt to move to the sidelines ahead of key central bank events. The Federal Reserve (Fed) will announce its decision at the end of a two-day meeting later today. This will be followed by the Bank of Japan (BoJ) policy update on Thursday. Given that both central banks are expected to keep interest rates steady, investors will look for cues about the policy...
Gold hovered around $3,320 an ounce on Wednesday, staying near a three-week low as easing trade tensions reduced the metal's safe-haven appeal. The US–EU agreement, which imposed a 15% tariff on most European goods, helped avert a broader trade conflict. With additional ongoing talks with Canada, South Korea, and others, investors are increasingly optimistic that further escalations can be avoided. Meanwhile, the US and China are continuing discussions to extend a tariff truce set to expire in two weeks, with President Trump expected to make the final decision on any extension. Investors...
The Australian dollar edged higher to above $0.651 on Wednesday, ending its four-session losing streak, as a weaker US dollar outweighed soft domestic inflation figures. The greenback eased ahead of the Federal Reserve's policy decision, with expectations for a rate hold, though markets remained cautious about any signals hinting at a possible cut in September. In Australia, consumer prices rose at the slowest pace in over four years in Q2, with headline CPI at 0.7% QoQ and 2.1% YoY, and core inflation easing to a three-year low of 2.7% YoY—both below forecasts and within the RBA's 2–3%...
Gold is steady ahead of the FOMC decision due later today. While the FOMC is widely expected to leave rates unchanged, the focus will be on whether Fed Chair Powell offers any hint of a September rate cut in his press conference. Investors are turning their attention to the FOMC meeting and a slew U.S. economic data, DHF Capital's Bas Kooijman says in an email. A dovish shift in Fed rhetoric or any unexpected softness in data could support the precious metal, the CEO and asset manager says. Spot gold is little changed at $3,326.78/oz. Source: Marketwatch
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....