US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by...
Silver prices climbed above $33 per ounce on Friday and were on track to rise about 3% for the week, driven by heightened demand for safe-haven assets amid growing concerns over the US fiscal outlook. Investor anxiety was stoked by President Trump's new budget bill—which includes significant tax cuts and expanded defense spending—raising fears of worsening deficits and an expanding national debt. Adding to the bullish tone, Federal Reserve Governor Christopher Waller suggested that the Fed still sees scope for interest rate cuts later this year, depending on the outcome of ongoing tariff...
EUR/USD recovers its recent losses posted in the previous session, trading around 1.1310 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) struggles due to a drop in US Treasury yields, which continue to depreciate after the 30-year US bond yield pulled back from 5.15%, the highest in 19 months. US President Donald Trump's "One Big Beautiful Bill" passed the US House of Representatives and is on its way to the Senate floor, which has raised concerns regarding the increase in the fiscal deficit in the United States (US). However, the EUR/USD pair registered...
Gold price (XAU/USD) regains positive traction following the previous day's pullback from a two-week high and trades above the $3,300 mark during the Asian session on Friday. Worries about the worsening US fiscal situations, renewed US-China trade tensions, and persistent geopolitical risks turn out to be key factors that continue to act as a tailwind for the safe-haven bullion. Apart from this, the emergence of fresh US Dollar (USD) selling lends additional support to the commodity. The initial market reaction to Thursday's mostly upbeat US economic data turned out to be short-lived amid...
Oil prices extended declines in Asian trading on Friday and were on track for weekly losses, as renewed oversupply concerns emerged following a report that OPEC+ may be considering another increase in production levels. As of 21:36 ET (01:36 GMT), Brent Oil Futures expiring in July fell 0.5% to $64.11 per barrel, while West Texas Intermediate (WTI) crude futures also lost 0.5% to $60.92 per barrel. Both contracts were on track to decline nearly 2% for the week. OPEC+ reportedly weighs production hike againThe Organization of Petroleum Exporting Countries and allies, collectively known as...
Gold price (XAU/USD) lacks any firm intraday direction on Friday and seesaws between tepid gains/minor losses, around the $3,300 mark during the Asian session on Friday. The XAU/USD bears, however, seem reluctant to place aggressive bets and positioning for an extension of the previous day's pullback from over a two-week high on the back of US fiscal concerns. Apart from this, renewed US-China trade tensions and persistent geopolitical risks should continue to act as a tailwind for the safe-haven bullion. Meanwhile, the initial market reaction to Thursday's mostly upbeat US economic data...