The dollar index remained near a four-month low of 103.7 on Friday, marking its fifth straight session of declines, the longest losing streak in nearly a year. Traders were analyzing the payrolls report, which showed that the labor market showed few signs of weakness. The U.S. economy added 151,000 payrolls, slightly lower than the 160,000 expected, the unemployment rate unexpectedly edged up to 4.1% and wage growth eased to 0.3%, as expected. Meanwhile, federal government employment declined by 10,000, but the full impact of the DOGE layoffs has yet to materialize. Additionally, ongoing...
Gold prices edged up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report that showed weaker-than-expected job growth in February, suggesting the Federal Reserve will cut interest rates this year. Spot gold was up 0.3% at $2,918.11 an ounce by 9:24 a.m. (1424 GMT). Bullion has gained more than 2% so far this week, as U.S. President Donald Trump's ever-changing tariff policies fueled uncertainty. U.S. gold futures were steady at $2,925. The U.S. dollar index was on track for its worst weekly performance since Nov. 4, making dollar-priced bullion cheaper for...
Oil rose on Friday but remained on track for its biggest weekly decline since late last year as U.S. President Donald Trump's tariffs on major trading partners injected volatility and uncertainty into global markets. Brent crude futures rose near $70 a barrel on Friday, helped by a falling dollar and potential U.S. plans to replenish its strategic oil reserves, but are still down more than 3% this week. Trump signed an order Thursday to cut tariffs on Mexico and Canada covered by the trade pact through April 2, just days after the tariffs went into effect. (Newsmaker23) Source: Bloomberg
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, had its worst week in more than a year, down more than 3.5% since Monday and trading near 103.70 at the time of writing on Friday (07/3). The greenback is undergoing a regime change where the US Dollar is no longer favored by traders. The interest rate differential between the Federal Reserve (Fed) and other central banks is set to narrow after Fed Governor Christopher Waller said on Thursday that there could be two to three rate cuts this year. On the economic data front, all eyes...