Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated after the Nasdaq 100 rose 0.7% and the S&P 500 gained 0.4%. In the bond market, the 10-year US Treasury yield held steady at around 4.15%. Oil stabilized after two days of declines, and shares of several US retailers rose as a US Supreme Court appearance that appeared skeptical of broad tariffs raised hopes that tariffs could be lifted. The return of buyers came after a brief decline that fueled concerns about overvaluation. Private data...
Gold price tumbled on Tuesday, down more than 0.40% following the release of the latest inflation report in the United States (US), which boosted the US Dollar to the detriment of the precious metal. Comments by US President Donald Trump and risk aversion, instead of driving Bullion prices higher, weighed on the precious metal, which trades at $3,329 after hitting a daily peak of $3,366. The market mood is mixed, with US equities fluctuating between gains and losses following the release of the June Consumer Price Index (CPI). Headline and core figures on an annual basis rose, signaling...
The Australian Dollar (AUD) weakened further against the US Dollar (USD) on Tuesday following the release of US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surged across the board, pushing AUD/USD to 0.6510 during the American trading session. US Consumer Price Index (CPI) rose 0.3% in June from the previous month, slightly above the 0.2% consensusand 2.7% YoY, surpassing May's 2.4% print. It marked the fastest pace since January and signaled that underlying price pressures remain sticky despite the Fed's tightening efforts. The data prompted a sharp...
The Swiss Franc (CHF) weakens against the US Dollar (USD) on Tuesday, as traders flock to the Greenback in response to hotter-than-expected US inflation data. The Consumer Price Index (CPI) figures reignited bets that the Federal Reserve may delay its first interest rate cut, boosting US Treasury yields and driving broad-based demand for the US Dollar, with USD/CHF climbing above the 0.8000 mark for the first time since late June. At the time of writing, the USD/CHF pair is trading near 0.8021, up over 0.50% on the day. The latest US inflation data showed that prices continued to rise in...
The US dollar index initially dipped but later rebounded to trade above 98.4 on Tuesday, as the CPI report did little to shift market expectations regarding the Fed's next policy moves. Headline inflation rose in line with expectations on both an annual and monthly basis, while core inflation came in softer than forecast, suggesting price pressures, particularly those stemming from recently imposed tariffs, were limited for now. Following the data, traders modestly increased their expectations for interest rate cuts, but markets are still pricing in two reductions in the federal funds rate...
Gold prices weakened slightly on Tuesday (July 15th) as market participants awaited tariff updates, while inflation reports showed a long-anticipated increase in US consumer prices last month. Spot gold prices fell 0.2% to $3,336.99 an ounce, as of 9:40 a.m. EDT (1:40 p.m. GMT). US gold futures fell 0.4% to $3,345. The US dollar strengthened 0.2%, making gold more expensive for holders of other currencies. "I think the market continues to focus on tariffs, which is keeping gold strong. I remain bullish on gold, even though we're in the range that's been in place since mid-May," said Peter...