The US dollar weakened on Friday after a surge in jobless claims and a moderate rise in inflation made markets increasingly confident that the Fed would cut interest rates next week—and possibly further thereafter. The dollar index stood at 97.585, heading for a second straight weekly decline after snapping a two-day rally on Thursday.Thursday's data showed the largest weekly increase in jobless claims in four years, overshadowing the August CPI release, which rose the fastest in seven months but remained moderate and in line with expectations. Some market participants called the current...
Gold price (XAU/USD) holds onto gains near the weekly high around $3,365 during the European trading session on Thursday. The yellow metal trades firmly ahead of the United States (USD) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT. Investors will closely monitor the US NFP data as a few Federal Reserve (Fed) officials have expressed concerns regarding the labor market strength. Also, market experts believe that US business owners are reluctant for fresh hiring amid uncertainty surrounding the tariff policy imposed by President Donald Trump after his return to...
Oil prices fell on Thursday after gaining 3% in the previous session as investors are wary higher U.S. tariffs may be reinstated, which could cause lower fuel demand, and as major producers are expected to announce an output hike. Brent crude futures fell 45 cents, or 0.65%, to $68.66 a barrel by 0645 GMT. U.S. West Texas Intermediate crude declined 44 cents, or 0.66%, to $67.01 a barrel Both contracts rose to their highest in one week on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog, raising concerns the lingering dispute over the Middle East producer's nuclear...
The British pound edged higher toward $1.37, partially recovering from Wednesday's decline, as markets reacted positively to Prime Minister Keir Starmer's strong backing of Chancellor Rachel Reeves. Starmer defended Reeves amid speculation about her future, attributing her emotional moment to a "personal matter" and affirming she would remain chancellor "for a very long time to come." His remarks helped ease investor concerns that a potential replacement might be less committed to fiscal discipline and more inclined toward increased borrowing. Meanwhile, traders also digested comments from...
Silver price revisits two-week high near $36.80 during European trading hours on Thursday. The white metal trades firmly ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT. The US official employment data will significantly influence market expectations for the Federal Reserve's (Fed) monetary policy outlook as officials have lately warned of downside labor market risks. Economists expect US employers to have added 110K fresh workers, fewer than 139K in May. The Unemployment Rate is estimated to have accelerated to 4.3% from the prior...
Gold prices were little changed on Thursday as investors held back from making significant bets, awaiting U.S. payroll data later in the day for insight into the Federal Reserve's policy direction. Spot gold held steady at $3,357.96 per ounce as of 0601 GMT, while U.S. gold futures edged up 0.2% to $3,369.10. Gold appears to be consolidating at present within the $3,320 to $3,360 range, with the market adopting a wait-and-see approach rather than taking significant positions ahead of U.S. non-farm payroll and ISM Services PMI data, OANDA senior market analyst Kelvin Wong said. Data...
The trading action in financial markets turns subdued early Thursday as investors gear up for the key June employment report from the US, which will feature Unemployment Rate, Nonfarm Payrolls and wage inflation figures. The US economic calendar will also offer weekly Jobless Claims data and the Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) report for June. After starting the day on a bullish note on Wednesday, the US Dollar (USD) lost its recovery momentum in the American session to end the day with small gains. The data published by Automatic Data...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, remains on the defensive near 96.70 during the early Asian session on Thursday. All eyes will be on the release of highly-anticipated US Nonfarm Payrolls (NFP) data for June, which is due later on Thursday. The Greenback edges lower after the ADP National Employment Report showed US private payrolls fell for the first time in more than two years in June. US private-sector payrolls decreased 33,000 in June after a downwardly revised 29,000 gain in May. This figure came...
Gold eased after a three-day gain, before pivotal US jobs data due later Thursday that may shape the outlook for the Federal Reserve's monetary easing path. Bullion traded near $3,345 an ounce after gaining more than 2% earlier this week, as markets shifted focus to the incoming payrolls report that's forecast to show 106,000 jobs were added to the economy in June, which would mark the fewest in four months. Separate data from ADP Research on Wednesday showed employment at US companies fell for the first time in over two years, prompting traders to boost bets on at least two rate cuts...
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....