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...
Gold prices extended declines in Asian trading on Wednesday, as the U.S. administration reduced the impact of auto tariffs amid signs of easing trade tensions, while investors cautiously awaited key U.S. data to gauge the Federal Reserve's rate outlook. Despite the dip, gold was set for its fourth consecutive monthly rise, with a nearly 6% jump in April so far. As of 02:30 ET (06:30 GMT), Spot Gold fell 0.4% to $3,305.10 per ounce, while Gold Futures expiring in June lost 0.6% to $3,314.94 an ounce.President Trump signed two orders on Tuesday to ease the impact of auto tariffs, offering...
The EUR/USD pair recovers a few pips from the vicinity of the mix-1.1300s, or the Asian session low, though it lacks any follow-through amid a modest US Dollar (USD) uptick. Spot prices currently trade around the 1.1375 area and remain confined in a familiar range held over the past week or so. The USD attracts buyers for the second straight day amid some repositioning trade ahead of this week's key US macro data. The shared currency, on the other hand, is undermined by dovish signals from the European Central Bank (ECB), which turns out to be another factor acting as a headwind for the...
The USD/CHF pair posts modest losses around 0.6410 during the early European session on Wednesday. The uncertainty surrounding trade policy continues to boost the safe-haven flows, supporting the Swiss Franc (CHF). The Swiss KOF Leading Indicator for April is due later on Wednesday. China exempted some US imports from its 125% tariffs last week, although China quickly knocked down US President Donald Trump's assertion that trade talks between the two countries were underway. On Monday, US Treasury Secretary Scott Bessent said that key trade partners have made "very good" offers to avoid US...
Gold price (XAU/USD) trades with a negative bias for the second consecutive day, though it lacks bearish conviction and holds above the $3,300 mark during the Asian session on Wednesday. The global equity markets continue to rise amid signs of easing US-China trade tensions and US President Donald Trump's decision to give flexibility on tariffs to US carmakers. This, along with a modest US Dollar (USD) uptick, is seen as a key factor undermining demand for the safe-haven precious metal. Meanwhile, Trump's rapidly shifting stance on trade policies has been received poorly by investors and...
The Japanese Yen (JPY) trades with a negative bias against its American counterpart for the second straight day on Wednesday as a positive risk tone seems to undermine demand for traditional safe-haven assets. US President Donald Trump signed an order to ease the impact of new tariffs on the auto industry, which, along with signs of further trade deals, boosts investors' confidence. Apart from this, disappointing domestic data turns out to be another factor weighing on the JPY. Any meaningful JPY depreciation, however, seems elusive as traders might opt to move to the sidelines ahead of the...