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...
The Pound Sterling (GBP) trades lower against its major peers on Tuesday. The British currency remains on the back foot due to the overhang of mounting fiscal risks in the United Kingdom (UK) following the presentation of a higher welfare spending bill by the Labour government before the House of Commons last week. The welfare bill announced showed an increase in the standard allowance for Universal Credit (UC), which is expected to raise the debt financial burden by £4.8 billion by fiscal year 2029-2030.. This led to investors dumping UK gilts as the bill raised financial...
Oil slipped as traders weighed the impact of President Donald Trump's latest wave of tariff threats and fresh attacks on Red Sea shipping. Brent traded near $69 a barrel, after jumping almost 2% on Monday. The US unveiled a slew of letters warning key trading partners of high tariff rates. Meanwhile, another ship in the Red Sea was under attack. "Traders are watching Trump's new tariff threats and global growth risks, which could soften demand," said Haris Khurshid, chief investment officer at Karobaar Capital LP. "Looking ahead, we should be paying attention to...
The dollar fell versus most major peers as investors mulled how the latest tariffs would affect the US economy and those of its trading partners. The Australian dollar led gains following the RBA's policy decision. The Bloomberg Dollar Index drops as much as 0.3%, snapping Monday's 0.5% advance as traders gameplanned what rates from 25% to 40% on goods from Japan to Malaysia would do to regional trade and growth. Trump has imposed 25% on goods from Japan and South Korea, beginning Aug. 1. AUD/USD rallies as much as 1% to 0.6558 after Australia's central bank surprised investors and...
The EUR/USD pair is trimming some of Monday's losses on Tuesday, although it maintains the bearish trend from last week's highs intact. Investors are keeping a cautious mood as US President Donald Trump announced new tariffs on a batch of countries, bringing global trade concerns back to the forefront. The Euro (EUR) bounced up from nearly two-week lows at 1.1690 during Tuesday's Asian session, and is trading at 1.1740 at the time of writing, with upside attempts capped below a previous support area at 1.1750 so far. The Eurozone was not among the recipients of Trump's tariff letters and...
Silver prices held firm around $36.80 per ounce on Tuesday, hovering near 13-year highs as markets assessed the latest US trade policy moves. President Donald Trump announced updated tariff rates on 14 countries that have not reached trade agreements with Washington, including major exporters such as Japan and South Korea, both of which will face 25% levies. Trump also signed an executive order extending the reciprocal tariff deadline to August 1 from July 9, providing additional time for negotiations. He further warned of a potential 10% tariff on countries aligning with what he called...
The Japanese Yen (JPY) sticks to its negative bias through the early European session on Tuesday amid worries that US President Donald Trump's trade tariffs could further complicate the Bank of Japan's (BoJ) path to normalising monetary policy. Adding to this, signs of stability in the global risk sentiment turn out to be another factor that undermines the JPY's safe-haven status and assists the USD/JPY pair to hold steady above the 146.00 round figure. Meanwhile, concerns about the economic impact of Trump's tariffs and geopolitical risks stemming from fresh conflicts in the Middle East...
Gold price (XAU/USD) sticks to modest intraday losses through the early European session on Tuesday, though it lacks follow-through selling amid a combination of diverging forces. Investors now seem convinced that the Federal Reserve (Fed) will keep interest rates steady amid expectations that US President Donald Trump's tariffs would underpin US inflation. This, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal. However, worries about the potential economic fallout from Trump's trade tariffs and US fiscal concerns fail to assist the US Dollar (USD) in...
Oil slipped for the third time in four days as investors focused on the fallout from a wave of US trade levies and a decision by OPEC+ to restore more of the group's idled capacity. Brent dipped toward $69 a barrel and West Texas Intermediate was below $68. President Donald Trump threatened new tariff rates on trading partners, while suggesting that he was still open to negotiations. The duties on countries including Japan and South Korea won't take effect until at least Aug. 1. President Donald Trump unveiled the first in a wave of promised letters that threaten to impose...
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....