The GBP/USD pair trades with mild gains to near 1.2790 during the early European trading hours on Wednesday. The US Dollar (USD) hovered near a three-month low amid concerns over slowing US economic growth and the impact of tariffs. "Fears about weaker U.S. and global economic activity are manifesting in the markets, with cyclicals driving the sell-off," said Kyle Rodda, senior financial markets analyst at capital.com. Additionally, Trump's 25% levies on Mexican and Canadian imports took effect on Tuesday, alongside a hike in Chinese duties to 20% Investors will take more cues from the US...
Gold eased below $2,910 per ounce on Wednesday, pausing recent gains as rising US Treasury yields pressured prices. Still, the metal remained relatively near its record highs, supported by safe-haven demand amid implementation of US tariffs. Trump's 25% levies on Mexican and Canadian imports took effect Tuesday, alongside a hike in Chinese duties to 20%, escalating trade tensions and prompting retaliation. However, US Commerce Secretary Howard Lutnick suggested possible tariff relief for Canada and Mexico. Further boosting gold's safety appeal, the US paused military aid to Ukraine amid...
The USD/JPY pair attracts some buyers to around 149.75 during the Asian trading hours on Tuesday. The US Dollar (USD) gains ground as traders await more cues from US President Donald Trump's speech. Later on Wednesday, the US ISM Services Purchasing Managers Index (PMI) for February will be in the spotlight. Meanwhile, the US Dollar Index (DXY), a measure of the USD's value relative to its most significant trading partners' currencies, currently trades around 105.75, adding 0.18% on the day. However, the upside for the Greenback might be limited amid concerns over slowing economic growth...
The Australian dollar slipped below $0.625 on Wednesday, reversing a two-day rally despite stronger-than-expected economic growth data. Australia's economy grew by 0.6% in the fourth quarter, up from 0.3% in the previous quarter and surpassing market expectations of 0.5%. On the monetary policy front, RBA Deputy Governor Andrew Hauser noted that the central bank is closely monitoring the impact of the escalating global trade war on domestic inflation. He emphasized that it's too early to declare victory over inflation and called for a cautious approach to further interest rate...