The U.S. dollar clawed back some ground in Asian trading on Tuesday following five days of selling, ahead of the return of U.S. traders from the Labor Day holiday. The dollar index was last up 0.2% at 97.873, having touched its lowest since July 28 on Monday. Gold hit an all-time high. "Capital markets across equities and credit are still optimistic on the U.S., which suggests that foreign holders of U.S. assets are not in retreat," analysts from DBS wrote in a client note. Traders have sold the greenback as U.S. President Donald Trump's attacks on the Federal Reserve, including his...
GBP/USD retraces its recent gains from the previous session, trading around 1.3520 during the Asian hours on Tuesday. The pair depreciates as the US Dollar (USD) gains ground, driven by persistent inflationary pressures in the United States (US), which heightened uncertainty over potential Federal Reserve (Fed) rate cuts. Traders will likely observe the August ISM Manufacturing Purchasing Managers Index (PMI) later in the day. Furthermore, traders will also observe upcoming labor market data this week that could shape the US Federal Reserve's (Fed) policy decision in September. Key reports...
Silver price (XAG/USD) trades near $40.85 per troy ounce, the highest since September 2011, which was marked during the Asian hours on Tuesday. The precious metals like Silver attract buyers amid increased safe-haven demand, driven by US Federal Reserve (Fed) independence concerns, uncertainty surrounding Fed policy outlook, and US President Donald Trump's tariffs. United States (US) July's Personal Consumption Expenditures (PCE) Price Index signaled persistent inflationary pressures and heightened uncertainty over potential Fed rate cuts. However, traders are now pricing in more than 89%...
The Australian dollar weakened to around $0.654 on Tuesday, snapping a five-session winning streak, as investors paused amid a mix of domestic economic signals. Notably, Australia's current account deficit narrowed to over one-year low in Q2 2025, coming in better than market expectations. Moreover, manufacturing activity jumped to a near three-year high in August 2025, marking the eighth consecutive month above the 50-point expansion threshold. Meanwhile, business inventories saw their weakest expansion since the contraction in Q3 2024. In the housing sector, private house approvals...