The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on Tuesday, September 9. The preliminary revision will cover the 12-month period through March 2025 before the final benchmark revision is reported within the employment report of February 2026. "Official establishment survey estimates are not updated based on this preliminary benchmark revision. The final benchmark revision will be incorporated into official estimates with the publication of the January 2026 Employment Situation news release in...
The US Dollar (DXY) continues its downward spiral on Tuesday, with DXY hovering near 103.40 as trade tensions escalate. United States (US) President Donald Trump's decision to hike tariffs on Canadian steel and aluminum to 50% rattled markets, adding further pressure on the Greenback. Meanwhile, in Europe, Germany's Green coalition voiced support for a defense spending bill, providing an additional boost to the Euro (EUR). US equities erased earlier gains, with the Dow Jones down over 1%, reflecting broader market concerns.Trade dispute and policy shiftsThe US-Canada trade rift intensified...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, hit a low not seen since October 2024. The index was trading above 103.50 at the time of writing on Tuesday. The greenback faced headwinds on early European comments from Germany's Green coalition, who were said to be back on track to reach a deal on a German defense spending bill. This pushed the US Dollar (USD) lower and supported the Euro (EUR). On the economic data front, the US JOLTS Job Openings report for January will be the main focus. Traders are already gripped by recession fears,...
Oil prices rose 1% on Tuesday, helped by a weaker U.S. dollar, although gains were capped by growing concerns about a U.S. slowdown and the impact of trade tariffs on global economic growth. Brent crude futures were up 73 cents, or 1.05%, at $70.01 a barrel by 1116 GMT after falling in early trading. U.S. West Texas Intermediate crude futures were up 66 cents, or 1%, at $66.69 a barrel after also falling earlier. Both benchmarks closed 1.5% lower in the previous session. The dollar index (.DXY), opens new tab , hit a four-month low, making oil cheaper for overseas buyers. Investors are...
Gold prices rose on Tuesday, supported by safe-haven inflows as trade war concerns dampened risk sentiment in broader markets, while attention was on US inflation data. Spot gold rose 0.8% to $2,912.88 an ounce by 1031 GMT after hitting its lowest since March 3 in the previous session. US gold futures rose 0.6% to $2,917.90. The dollar index (.DXY), opens a new tab, hit a four-month low, making bullion cheaper for overseas buyers. US President Donald Trump's volatile trade policies — imposing and delaying tariffs on Canada and Mexico, while raising duties on Chinese goods — have rattled...
The euro hit a fresh four-month peak against the dollar on Tuesday on hopes a German defense spending deal could be reached by the end of the week, while the dollar index slumped to its lowest since October on U.S. recession fears. German Green Party co-leader Franziska Brantner said in an interview with Bloomberg News that her party was ready to negotiate a deal to boost state borrowing to boost defense spending and revive growth. That lifted the euro to $1.09205 against the dollar in early European trading, its highest since November. It was last up 0.7%. "The market really liked the...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...