The Gold price (XAU/USD) edges lower to around $3,630 during the early Asian session on Friday. The precious metal retreats from a record high on some profit-taking. Nonetheless, the rising bets of the US Federal Reserve (Fed) rate cut in the upcoming meeting might cap its downside. Traders await the University of Michigan Consumer Sentiment Index data, which is due later on Friday. A modest rebound in the US Dollar (USD) and a wave of profit-taking weigh on the USD-denominated commodity price as traders continue to assess the US inflation reports, which will help shape the next steps in...
Risk aversion is driving markets on Monday, as markets brace for the reintroduction of April's "Liberation Day" tariffs and the Aussie Dollar dives on a mix of fears of higher levies on exports to the US and a generalised disruption of global trade. Australia's economy is strongly dependent on international trade, and the uncertainty about the global trade outlook is hurting confidence in its currency. The AUD/USD accelerated its decline today and is losing about 0.9% in its third consecutive bearish day. Risk-sensitive currencies suffer with US tariffs loomingInvestors are rushing for...
The Pound Sterling (GBP) drops to near 1.3600 against the US Dollar (USD) during European trading hours on Monday. The GBP/USD pair declines as the US Dollar trades calmly, with investors awaiting trade-related headlines in the countdown to the United States (US) tariff deadline on July 9. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades 0.35% higher at near 97.35. US Treasury Secretary Scott Bessent expressed confidence in an interview with CNN over the weekend that Washington will announce several deals in a couple of days, New York Times...
The US Dollar is one of the best performers among major currencies on Monday. Investors' risk-averse sentiment amid growing concerns about global trade, as the US is likely to announce tariffs on imports today, The US Dollar Index (DXY), which measures the value of the Greenback against a basket of the most traded currencies, has climbed to the upper range of the 96.00s, putting some distance from last week's long-term lows, right below 96.00 and approaching a key resistance level, at 97.00. US tariffs have boosted risk aversionTrump said on the Weekend that he will send letters on Monday...
Gold price (XAU/USD) touches a fresh daily low during the early part of the European session on Monday, with bears now awaiting a sustained break below the $3,300 mark before positioning for deeper losses. The US Dollar (USD) regains positive traction and moves back closer to last week's swing high, which, in turn, is seen as a key factor undermining the commodity. However, bets that the Federal Reserve (Fed) will resume its rate-cutting cycle in the near future should keep a lid on the USD and lend support to the non-yielding yellow metal. Furthermore, concerns that US President Donald...
Silver (XAG/USD) prices are currently holding below the psychological level of $37.00, trading around $36.70 per troy ounce in Asia, after halting a three-day rally in a row. Although demand for safe-haven assets has strengthened amid geopolitical tensions—especially the ongoing conflict in Gaza and President Donald Trump's threat of additional tariffs on pro-BRICS countries—silver prices are still being pressured by a stronger US dollar and easing expectations of a rate cut by the Federal Reserve. Tariff uncertainty keeps investors on the sidelines, but non-yielding assets such as silver...
Gold prices experienced a slight decline at the beginning of this week, amid rising geopolitical tensions and changes in US trade policy. The decline occurred after US President Donald Trump hinted that he would impose an additional 10% tariff on countries that side with the BRICS group. The threat encouraged the strengthening of the US dollar, which in turn pressured gold prices. Gold bullion fell by 0.9%, trading near $3,306 per ounce. Investors are now monitoring the direction of US trade policy ahead of the tariff deadline on July 9. Treasury Secretary Scott Bessent signaled a possible...
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 slid as much as 1.6% toward $67 a barrel after falling 0.7% on Friday, and West Texas Intermediate was below $66. The group led by Saudi Arabia decided on Saturday to increase supply by 548,000 barrels a day, putting OPEC+ on track to unwind its most recent output cuts a year earlier than planned. Alliance officials cited summer demand as one reason for their optimism that the extra barrels could be...
The Australian Dollar (AUD) loses ground against the US Dollar (USD) on Monday, continuing its losing streak for the third successive session. The AUD/USD pair depreciates due to renewed tariff concerns as US President Donald Trump may send out 12 or 15 letters on tariffs later in the day, with expecting that trade deals or letters with most nations will be done by July 9. ANZ Job Advertisements increased by 1.8% in June after a decline of 1.2% in May. The data presents the number of job advertisements in the major metropolitan newspapers and on the internet sites in Australia. The...
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....