Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs data outweighed August's Consumer Price Index (CPI) report as the number of Americans filing for unemployment benefits rose. XAU/USD trades at $3,635 after hitting a daily high of $3,649. Bullion edges lower after soft CPI and higher Jobless Claims boost easing odds The US Bureau of Labor Statistics (BLS) revealed that inflation remained steady on the consumer side, with headline CPI standing...
The US Dollar (USD) holds its footing on Thursday after a weak start to the day, as investors digest fresh tariff threats from US President Donald Trump. The Greenback slipped during Asian trading hours and retraced some of this week's gains. It also came under pressure from a sharp drop in Treasury yields, driven by strong demand in Wednesday's 10-year note auction and signals in the June Federal Open Market Committee (FOMC) Meeting Minutes that interest rates could be lowered later this year. The US Dollar Index (DXY), which measures the value of the Greenback against a basket of six...
The AUD/USD climbs to near 0.6570 during the European trading session on Thursday. The Aussie pair continues to perform strongly from Tuesday when the Reserve Bank of Australia (RBA) surprisingly kept interest rates steady at 3.85%, citing officials need confidence that inflationary pressures are on the 2.5% path. "The Board judged that it could wait for a little more information to confirm that inflation remains on track to reach 2.5% on a sustainable basis," the board said in a statement, Reuters reported. The unexpected move to hold interest rates steady by the RBA led to a sharp upside...
The EUR/USD pair holds gains on Thursday, but the pair has pulled back from intra-day highs. Investors' concerns about the uncertain outlook for international trade are weighing on risk appetite, although a somewhat softer US Dollar, following the minutes of the last Federal Reserve (Fed) meeting, keeps the pair supported. The Euro (EUR) met buyers right below 1.1700 on Wednesday, paring some losses and returning to the mid-range of the 1.1700s, as the pair trades at 1.1740 at the time of writing. From a wider perspective, however, the bearish structure from the July 1 highs remains in...
The Pound Sterling (GBP) ticks up to near 1.3600 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges higher as the US Dollar (USD) struggles to hold over a week-long recovery move amid uncertainty surrounding trade discussions between the United States (US) and its trading partners. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls slightly to near 97.40. So far, the US has announced trade agreements with the United Kingdom (UK) and Vietnam, and a limited deal with China....
The USD/JPY pair trades sideways around 146.30 during the European trading session on Thursday. The pair consolidates as investors await fresh news regarding trade talks between the United States (US) and Japan. Earlier this week, US President Trump imposed 25% tariffs on imports from Japan, which will come into effect on August 1. The size of tariffs was lower than what Trump announced at the start of month, while stating that Tokyo behaves stiffly over agriculture imports from Washington and disparity over automotive trade. "We've dealt with Japan. I'm not sure if we're going to make a...
Silver prices climbed above $36.50 per ounce on Thursday, snapping a three-day losing streak as a softer US dollar and a sharp decline in Treasury yields boosted demand for precious metals. The moves followed minutes from the Federal Reserve's latest meeting, which showed most policymakers were open to cutting interest rates later this year. Investors also navigated evolving global trade dynamics, with US President Donald Trump sending letters dictating new tariff rates on a total of 21 countries. Moreover, Trump announced a 50% levy on Brazilian goods effective August 1, citing unfair...
Gold prices rose marginally in Asian trade on Thursday and remained largely within a recently established trading range, while U.S. copper prices extended their rally after President Donald Trump confirmed his plans to tariff the red metal. Broader metal prices gained ground as the dollar fell amid mixed signals on just when the Federal Reserve will cut interest rates further. But the greenback still maintained a bulk of its recent rebound from three-year lows. Spot gold rose 0.3% to $3,323.72 an ounce, while gold futures for September rose 0.3% to $3,332.45/oz by 01:34 ET (05:34...
The USD/CHF pair rebounds a few pips from a fresh weekly low touched during the Asian session on Thursday and for now, seems to have stalled this week's slide from the vicinity of the 0.8000 psychological mark. Spot prices, however, lack bullish conviction and currently trade around the 0.7940 region, unchanged for the day amid mixed cues. Asian stocks tracked the overnight move up in the US equity markets, which, in turn, undermines demand for the safe-haven Swiss Franc (CHF). The US Dollar (USD), on the other hand, draws some support from diminishing odds for a rate cut by the Federal...
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....