The USD/CHF pair continues to decline from its seven-month high of 0.9080, as the US Dollar Index (DXY) hovers near 108.30 after retreating from a multi-year high of 108.58 reached on Tuesday. During European trading hours on Thursday, the USD/CHF pair trades around 0.9050.Traders will likely observe the US weekly Initial Jobless Claims and S&P Global Manufacturing PMI for December, scheduled to be released later in the North American session.However, the downside of the US Dollar could be limited by growing expectations that the US Federal Reserve (Fed) will adopt a slow and cautious...
Gold (XAU/USD) prices extended intraday gains near $2,650 in the North American open on Thursday after the New Year holiday. The precious metal gained as its appeal as a safe-haven asset increased, with investors focused on President-elect Donald Trump taking office on January 20. Trump's expected incoming policies, such as higher import tariffs and lower taxes, would be a boon for Gold. Higher import tariffs would lead to a potential global trade war and lower taxes would increase inflationary pressures in the United States (US). Gold tends to outperform amid economic uncertainty as a...
The U.S. dollar weakened on Thursday as traders headed into the new year, but the greenback remained close to a two-year high seen earlier in the week and is likely to remain supported in the near term given a more hawkish Fed stance and expectations for the incoming Trump administration. At 4:45 AM ET (09:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% lower at 108.215, but remained close to a two-year high hit on Tuesday. Dollar to remain in demand in 2025 The index rose 7% in 2024 as traders sharply cut expectations for a...
Silver (XAG/USD) prices kicked off 2025 on a strong note. The white metal gained nearly 1.50% in the European session on Thursday and rose near $29.40. The asset gained as the US Treasury yield rally stalled after surging more than 10% in the past four weeks The 10-year US Treasury yield dipped near 4.55%. Lower yields on interest-bearing assets suggest a lower opportunity cost for non-yielding assets, such as Silver, which increases its appeal. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, traded sideways near a more than...