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...
The Pound Sterling (GBP) starts the week on a slightly positive note. The British currency ticks up as market experts have pared bets supporting a higher number of interest rate cuts by the Bank of England (BoE) for the remainder of the year. According to a report from Reuters, a number of Wall Street brokerage houses have reassessed their BoE rate cut expectations, following the release of the hotter-than-projected United Kingdom (UK) Consumer Price Index (CPI) data for June and lesser-than-expected weakness in the labor market data for the three months ending in May. Analysts at Bank of...
Oil prices dipped slightly on Monday, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while U.S. tariffs ensure demand concerns remain. Brent crude futures dropped 38 cents, or 0.55%, to $68.90 a barrel by 0925 GMT after settling 0.35% down on Friday. U.S. West Texas Intermediate crude declined 30 cents, or 0.45%, to $67.04 after a 0.3% decline in the previous session. The European Union on Friday approved the 18th package of sanctions against Russia over the war in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products...
ECB and PMIs in focus this week,The focus in Europe will be on Thursday's European Central Bank meeting. We doubt ECB President Christine Lagarde will shake things up too much ahead of the central bank's summer break, although there may be some continued concerns over recent euro strength and particularly the direction of tariffs. The mood music on EU tariffs seems poor at the moment, and the kink in the EUR/USD FX options implied volatility curve in the two-week tenor suggests investors are again wary of the new 1 August tariff deadline." "In addition to the ECB this week, we have the...
Silver prices climbed toward $38.5 per ounce on Monday, building on recent gains as the US dollar and Treasury yields retreated amid growing expectations for a Federal Reserve rate cut. Fed Governor Christopher Waller reiterated his support for easing in July, pointing to a weakening labor market and declining inflation risks. He also downplayed the inflationary impact of tariffs, calling it temporary, and said there are no signs of rising inflation expectations, giving the Fed room to act. Additional support for silver came from China, where the industry ministry pledged to stabilize...
Gold prices climbed on Monday, supported by a weaker dollar as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the Federal Reserve's policy meeting scheduled for next week. Spot gold was up 0.6% at $3,368.39 per ounce, as of 0534 GMT. U.S. gold futures rose 0.5% to $3,376. "Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large," KCM Trade Chief Market Analyst Tim Waterer said. "The closer we move towards the key August 1 deadline without...
Oil prices were little changed on Monday as traders assess the impact of new European sanctions on Russian oil supplies while they also worry about tariffs possibly weakening fuel demand as Middle East producers are raising output. Brent crude futures climbed 6 cents to $69.34 a barrel by 0344 GMT after settling 0.35% lower on Friday. U.S. West Texas Intermediate crude was at $67.51 a barrel, up 17 cents, following a 0.30% decline in the previous session. The European Union approved on Friday the 18th package of sanctions against Russia over the conflict in Ukraine, which also targeted...
Gold prices were little changed on Monday as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the U.S. Federal Reserve's policy meeting scheduled for next week. Spot gold held its ground at $3,352.19 per ounce, as of 0250 GMT. U.S. gold futures were steady at $3,358.70. "Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large," KCM Trade Chief Market Analyst Tim Waterer said. "The closer we move towards the key August 1 deadline without any...
The Australian dollar depreciated past $0.65 on Monday, extending losses from the previous week, as market sentiment remained subdued ahead of this week's release of the RBA meeting minutes and a speech by Governor Michele Bullock. This followed the RBA's unexpected decision to leave its benchmark interest rate unchanged at 3.85%, contrary to widespread expectations of a 25 bps cut. Nevertheless, economists anticipate a gradual shift toward monetary easing later this year, with current forecasts indicating that the cash rate could decline to around 3.1% by early 2026, supported by a stable...
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....