GBP/USD rebounds from session lows and trades marginally higher on the day above 1.3550. The renewed selling pressure surrounding the USD following the inflation and Jobless Claims data help the pair gain traction in the American session. Although the US Dollar (USD) came under bearish pressure with the immediate reaction to the weaker-than-expected Producer Price Index (PPI) data for August on Wednesday, the cautious market stance helped the currency find support and made it difficult for GBP/USD to gain traction. During a meeting of government ministers on Wednesday, Britain's finance...
Brent crude rose 0.8% to settle at $70.1 a barrel on Tuesday, hitting a two-week high, as investors weighed the impact of new U.S. tariffs and a larger-than-expected OPEC+ output increase in August. President Trump's announcement of tariffs on 14 countries raised concerns about global economic growth and oil demand, although tightening production of middle distillates and ongoing Houthi attacks on cargo ships provided support to prices. OPEC+ agreed on Saturday to raise output by 548,000 barrels per day in August, a fourth straight monthly increase and larger than analysts had...
Gold prices fell more than 1% on Tuesday, as optimism over a trade deal between the U.S. and its trading partners weighed on safe-haven flows, with a stronger U.S. dollar and rising Treasury yields adding further pressure. Spot gold fell 0.8% to $3,307.16 an ounce, as of 1:49 p.m. EDT (1749 GMT), after hitting its lowest in more than a week earlier in the session. U.S. gold futures settled 0.8% lower at $3,316.9. The benchmark 10-year Treasury yield hit its highest in more than two weeks, making non-yielding bullion less attractive, while the dollar, opens new tab , edged up 0.1%. Asia's...
Oil prices held near two-week highs on Tuesday as investors assessed the latest developments in U.S. tariffs and a bigger-than-expected increase in OPEC+ output for August. Brent crude futures rose 29 cents, or 0.4%, to $69.87 a barrel by 11:07 a.m. EDT (1507 GMT), while U.S. West Texas Intermediate (WTI) crude rose 11 cents, or 0.2%, to $68.04. That put both benchmarks on track for their highest closes since June 23 for a second straight day. Major Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of much higher tariffs...
Gold fell as investors analyzed President Donald Trump's decision to delay the start of increased tariffs on some trading partners, while insisting that the new deadline is final. The precious metal fell as much as 1.5%, with investors awaiting more details on the president's approach to negotiations, following this week's move to delay the imposition of all tariffs from April 2 to August 1, effectively giving each affected country an extra three weeks to reach a deal. "Tariffs will start being paid on august 1, 2025. There has been no change to this date, and there will be none," Trump...
The US dollar strengthened again on Tuesday (08/07) after falling earlier in the day, as market sentiment stabilized following US President Donald Trump's executive order extending the tariff deadline to August 1 from July 9. US President Trump posted a trade warning letter on his social media platform, Truth Social, on Monday night, addressed to 14 countries, including Japan and South Korea. The letter warned of the possibility of new "reciprocal" tariffs taking effect on August 1. The news had boosted demand for the US dollar as investors turned to safe-haven assets. However, with the...
Sterling falls to a two-week low against the dollar as the U.S. currency recovers and U.K. fiscal concerns mount. The dollar rises on hopes for trade deals as the President Trump confirmed a three-week extension to the deadline for trade negotiations until August 1. In the U.K., the Labour government recently made major concessions to its welfare reforms following a backlash from party MPs. Efforts to rein in special educational needs spending face a similar fate, Monex Europe analysts say in a note. That sets up another political fight in the coming weeks that could weigh further on...
Oil prices steadied Tuesday as investors assessed the impact of President Donald Trump's tariff hikes on key trade partners as well as lingering oversupply concerns from rising OPEC+ output. At 08:35 ET (12:35 GMT), Brent Oil Futures expiring in September rose 0.1% to $69.66 per barrel, while West Texas Intermediate (WTI) crude futures dropped 0.1% to $67.90 per barrel. Trump starts sending tariff letters; S. Korea, Japan face 25% levyU.S. President Donald Trump on Monday escalated his global trade campaign by notifying 14 countries that sharply higher tariffs will take effect on August 1....
Gold (XAU/USD) remains in a well-defined range between $3,320 and $3,350 at the time of writing on Tuesday, amid a looming tariff deadline and potential trade deals. US President Donald Trump's consistent tariff threats have temporarily muted demand for the yellow metal while supporting the demand for the Greenback. The president has announced new tariffs on countries, with Japan at 25% and South Korea at 30% standing out. He has also given a new deadline, August 1, instead of July 9. The yellow metal is down 0.43% intraday, and the lack of conviction reflects ongoing indecision amid...
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....