Gold's price (XAU/USD) stabilizes and trades near $2,910 at the time of writing on Wednesday, following a 1.3% drop the previous day after markets got spooked by weak US consumer confidence data and more realistic tariff threats from President Trump's administration. Meanwhile, United States (US) yields have plunged substantially, with markets projecting a 25 basis points (bps) rate cut in June from the Federal Reserve (Fed). This is supportive for the precious metal and should see price action bottoming out from here. Markets are looking forward to March 4, when tariffs on Mexico and...
Oil prices held around two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support. Brent crude rose 16 cents, or 0.2%, to $73.18 a barrel by 0926 GMT. U.S. West Texas Intermediate crude oil futures were up 20 cents, or 0.3%, at $69.13. Prospects for a peace deal between Russia and Ukraine are improving, ING commodities strategists said in a note on Wednesday, adding that the market was also watching for potential implications of a minerals deal between the U.S. and Ukraine. "This...
The Pound Sterling (GBP) declines to near 1.2640 against the US Dollar (USD) in European trading hours on Wednesday. The GBP/USD pair faces selling pressure as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, has shown a strong recovery move after sliding to near the 11-week low of 106.10 earlier in the day. The Greenback bounces back strongly as bond yields gain ground after a five-day losing streak. 10-year US Treasury yields recover to near 4.33% after posting a fresh more than two-month low near 4.28% during the Asian session.US bond yields...
USD/CHF pair edges higher to near 0.8950, snapping the four-day losing streak on Wednesday during the early European trading hours. The US Dollar (USD) recovers from an 11-week low despite weak US economic data and tariff worries from US President Donald Trump. The cautious stance from the US Federal Reserve (Fed) helps limit the USD's losses. Richmond Fed President Thomas Barkin said late Tuesday that he will follow a wait-and-see approach regarding central bank interest rate policy until it is clear inflation is returning to the Fed's 2% goal. Meanwhile, Chicago Fed President Austan...