Gold trimmed losses after US inflation and labor market data strengthened bets that the Federal Reserve will cut interest rates next week. Consumer prices excluding food and energy rose 3.1% last month from a year earlier, in line with analysts' expectations, according to a Bureau of Labor Statistics report released Thursday (September 11). Separate data showed US initial jobless claims jumped to their highest level in nearly four years. The mixed data bolstered traders' confidence that the US central bank will lower borrowing costs at its two-day meeting ending September 17. Treasury bond...
The Australian Dollar (AUD) weakened further against the US Dollar (USD) on Tuesday following the release of US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surged across the board, pushing AUD/USD to 0.6510 during the American trading session. US Consumer Price Index (CPI) rose 0.3% in June from the previous month, slightly above the 0.2% consensusand 2.7% YoY, surpassing May's 2.4% print. It marked the fastest pace since January and signaled that underlying price pressures remain sticky despite the Fed's tightening efforts. The data prompted a sharp...
The Swiss Franc (CHF) weakens against the US Dollar (USD) on Tuesday, as traders flock to the Greenback in response to hotter-than-expected US inflation data. The Consumer Price Index (CPI) figures reignited bets that the Federal Reserve may delay its first interest rate cut, boosting US Treasury yields and driving broad-based demand for the US Dollar, with USD/CHF climbing above the 0.8000 mark for the first time since late June. At the time of writing, the USD/CHF pair is trading near 0.8021, up over 0.50% on the day. The latest US inflation data showed that prices continued to rise in...
The US dollar index initially dipped but later rebounded to trade above 98.4 on Tuesday, as the CPI report did little to shift market expectations regarding the Fed's next policy moves. Headline inflation rose in line with expectations on both an annual and monthly basis, while core inflation came in softer than forecast, suggesting price pressures, particularly those stemming from recently imposed tariffs, were limited for now. Following the data, traders modestly increased their expectations for interest rate cuts, but markets are still pricing in two reductions in the federal funds rate...
Gold prices weakened slightly on Tuesday (July 15th) as market participants awaited tariff updates, while inflation reports showed a long-anticipated increase in US consumer prices last month. Spot gold prices fell 0.2% to $3,336.99 an ounce, as of 9:40 a.m. EDT (1:40 p.m. GMT). US gold futures fell 0.4% to $3,345. The US dollar strengthened 0.2%, making gold more expensive for holders of other currencies. "I think the market continues to focus on tariffs, which is keeping gold strong. I remain bullish on gold, even though we're in the range that's been in place since mid-May," said Peter...
Oil prices were little changed on Tuesday (July 15) after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end its war in Ukraine and avoid sanctions eased immediate supply concerns. Brent crude rose 1 cent to $69.22 a barrel at 12:01 GMT. U.S. West Texas Intermediate crude fell 7 cents to $66.91. "The focus is on Donald Trump. There were concerns he might soon impose sanctions on Russia, and now he's given another 50 days," said UBS commodities analyst Giovanni Staunovo. "Concerns about imminent additional tightening in the market have eased. That's the main news." Oil...
The US dollar (USD) traded slightly weaker on Tuesday (July 15th) as investors prepared for the highly anticipated release of the US Consumer Price Index (CPI). With market participants repositioning ahead of key inflation data, the greenback struggled to maintain its gains from the previous day. The US Dollar Index (DXY) traded slightly lower, holding near the psychological 98.00 level during the European session. Although the index remains supported, it faces key technical resistance at current levels, preventing traders from placing aggressive bets. The broader market mood remains...
Oil prices plummeted on Tuesday (July 15) after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end its war in Ukraine and avoid sanctions eased existing supply concerns. Brent crude futures fell 56 cents, or 0.8%, to $68.65 a barrel at 07:36 GMT, while U.S. West Texas Intermediate crude fell 62 cents, or 0.9%, to $66.36. "The focus was on Donald Trump, there were concerns he might soon impose sanctions on Russia, and now he's given another 50 days," said Giovanni Staunovo, a commodities analyst at UBS. "Concerns about imminent additional tightening in the market have...
Gold prices rose on Tuesday (July 15th) as concerns over a global trade war fueled demand for safe-haven assets, while investors awaited key US inflation data. Spot gold rose 0.5% to $3,361.39 per ounce, as of 08:16 GMT. US gold futures rose 0.3% to $3,370.40. The US dollar (.DXY), opened in a new tab, fell 0.1%, making gold cheaper for buyers holding other currencies. "Gold strengthened as bullish investors looked to capitalize on the slightly weaker dollar today," said Han Tan, chief market analyst at Nemo.Money. "Gold is enjoying a multitude of supporting factors, ranging from...
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....