Silver held around $41/oz, near a 14-year peak, as the market awaited the US Consumer Price Index (CPI) release, which could determine the size of the Fed's interest rate cut next week. Wednesday's US Consumer Price Index (PPI) data fell 0.1% month-on-month (July revised down from +0.7%), missing the +0.3% forecast. Market participants had already priced in a 25 bps cut, with a 50 bps chance of around 8%. Safe haven demand also supported after President Donald Trump pushed the EU to consider tariffs of up to 100% on China and India to pressure Russia. On the industrial side, demand for...
Gold (XAU/USD is undergoing a modest pullback on Wednesday, as markets assess the implications of a United States (US)–Japan trade agreement and remain cautious ahead of further developments in the European Union (EU)–US negotiations. Despite the correction, XAU/USD is holding above the $3,400 mark, supported by lingering tariff risks and broader policy uncertainty. Attention now turns to incoming US economic data for near-term direction. The June Existing Home Sales report, on Wednesday, will provide insight into consumer resilience and housing market trends amid elevated interest...
The U.S. dollar steadied Wednesday after a three-day decline, but the safe haven is still near its lowest level in two weeks with risk sentiment enhanced by the U.S.-Japan trade deal. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely unchanged at 97.110, just above its weakest level since July 10. The index has lost well over 6% since the start of the global trade uncertainty prompted by U.S. President Donald Trump's "Liberation Day" tariff announcement on April 2. Dollar near recent lows Trump's announcement of...
Gold price (XAU/USD) trades firmly above $3,400 during the European trading session on Wednesday, the highest level seen in over five weeks. The precious metal strengthens as global trade tensions continue to persist even as the United States (US) has confirmed a trade agreement with Japan. On Tuesday, US President Donald Trump announced through a post on Truth.Social that Washington has reached a deal with Tokyo in which the baseline tariff on imports from Japan will be 15%, lower than 25% imposed at the start of this month. Escalating trade worries between the US and the European Union...
The Pound Sterling (GBP) gains against its peers, except antipodeans, on Wednesday. The British currency attracts bids even as United Kingdom (UK) fiscal risks have resurfaced, following the government borrowings report from the Office for National Statistics (ONS) on Tuesday. The report showed that the administration raised the second-highest amount of funds since 1993 in order to mitigate the increase in debt costs, which accelerated due to higher inflation. Mounting UK borrowings pave the way for tax increases by the administration in its upcoming Autumn Statement. Meanwhile, investors...
USD/CHF holds ground after registering losses in the previous three successive sessions, trading around 0.7920 during the European hours on Wednesday. The pair holds ground as the US Dollar (USD) remains steady amid improving market sentiment, driven by latest trade developments. United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products. President Trump also said during a meeting with the Philippines'...
Gold eased on Wednesday as risk appetite improved after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline, though a soft dollar and lower Treasury yields capped losses for greenback-priced bullion. Spot gold was down 0.2% at $3,422.95 per ounce, as of 0459 GMT, after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.2% to $3,436.10. Trump said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. U.S. and Chinese officials...
The GBP/USD pair extends the rally to near 1.3525 during the early European session on Wednesday. The US Dollar (USD) remains weak against the Pound Sterling (GBP) as impending US President Donald Trump's tariff deadline looms. Investors will keep an eye on the preliminary reading of UK Purchasing Managers Index (PMI) reports, which are due later on Thursday. Uncertainty over tariff policy and concerns over the Federal Reserve (Fed) independence weigh on the Greenback. Investors brace for Trump's tariffs on top trading partners to take effect next month on one hand and bet that Trump will...
Silver price (XAG/USD) edges lower after reaching $39.39, the highest since September 2011, and currently trading around $39.20 per troy ounce during the Asian session on Wednesday. The price of Silver comes under pressure due to dampened safe-haven demand, driven by a wave of trade deals. United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products. President Trump said during a meeting with the...
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....