Oil prices continued to fall after U.S. President Donald Trump and his counterpart Vladimir Putin agreed to talks to end the war in Ukraine, raising speculation that risks to Russian supplies could be easing. Brent fell below $75 a barrel after dropping 2.4% on Wednesday, its biggest drop in more than two months, while West Texas Intermediate neared $71. Trump said negotiations would begin soon, and that he might meet Putin in Saudi Arabia "very soon," according to a social media post. "I'm much more skeptical that negotiations will happen sooner rather than later," said Wayne Gordon,...
Gold price (XAU/USD) builds on the previous day's bounce from the $2,864 region touched in reaction to hotter US consumer inflation figures and gains positive traction for the second straight day on Thursday. The momentum lifts the precious metal to the $2,920 area during the Asian session and is sponsored by a combination of factors. Investors remain worried that US President Donald Trump's new levies on commodity imports and reciprocal tariffs would spark a global trade war, which continues to underpin the safe-haven Gold price. Apart from this, the emergence of fresh US Dollar (USD)...
The USD/CHF pair weakens to near 0.9110, snapping the fifth-day winning streak during the early European session on Thursday. The concerns about US President Donald Trump's trade tariff and weakening of the US Dollar (USD) drag the pair lower. Investors brace for the US weekly Initial Jobless Claims and Producer Price Index (PPI), which are due later on Thursday. Fed Chair Jerome Powell on Wednesday emphasized that the central bank is in no rush to cut interest rates during a second congressional hearing this week but said that there has been "great progress" on inflation. The USD weakens...
The EUR/USD pair continues its upward momentum for the third straight session, hovering around 1.0430 during Asian trading hours on Thursday. Investors await Germany's Final Harmonized Index of Consumer Prices (HICP) data, set for release later in the day. The headline German HICP inflation is expected to remain steady at 2.8% year-over-year in January.However, concerns over a potential global trade war are weighing on the risk-sensitive EUR/USD pair. The White House indicated late Wednesday that US President Donald Trump could announce his reciprocal tariff plan before meeting Indian Prime...
Gold price (XAU/USD) sticks to modest intraday gains through the first half of the European session on Thursday, though it lacks follow-through and remains below the record high touched earlier this week. Investors remain worried that US President Donald Trump's trade tariffs might trigger a global trade war, which continues to act as a tailwind for the safe-haven bullion. Apart from this, a fresh leg down in the US Treasury bond yields drags the US Dollar (USD) to the weekly low and turns out to be another factor that benefits the commodity. Moreover, expectations that Trump's...