Gold's price (XAU/USD) sees losses accelerate going into Friday with a near 3% loss since it printed a new all-time high at $2,956 on Monday. The precious metal currently trades at $2,860 at the time of writing, after United States (US) President Donald Trump reiterated that tariffs for Mexico and Canada will start on March 4, while China will see an additional 10%, raising the total rates to20% on imports into the US. This dampens hopes markets still had for a possible delay in the implementation of these tariffs. Meanwhile, China is set to retaliate and it is ready to hit back at Trump's...
Gold's price (XAU/USD) is getting knocked out and is facing a substantial 3% loss since it printed a new all-time high at $2,956 on Monday at the start of this week. The precious metal currently trades at $2,860 at the time of writing, after United States (US) President Donald Trump reiterated that tariffs for Mexico and Canada will start on March 4, while China will see an additional 10%, raising the total rates to20% on imports into the US. This dampens hopes markets still had for a possible delay in the implementation of these tariffs. Meanwhile, the US Personal Consumption Expenditures...
Oil prices are down over 1% on Friday and were headed for their first monthly drop since November, as markets braced for Washington's tariff threats and Iraq's decision to resume oil exports from the Kurdistan region. Uncertainty surrounding OPEC's production resumption plans in April and ongoing peace talks to end the war in Ukraine also weighed on investor sentiment. The more active May Brent crude futures slipped 88 cents, or 1.20%, to $72.69 a barrel by 1212 GMT. U.S. West Texas Intermediate crude futures were at $69.36 a barrel, down 99 cents, or 1.41%. Front-month Brent, which...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is flat and orbits around 107.30 at the time of writing on Friday and tries to keep a hold on that level. Markets got shaken up again overnight as United States (US) President Donald Trump confirmed that tariffs for Canada and Mexico are going into effect on March 4. Meanwhile, China will face an additional 10% levy on the same day. On the economic data front, all eyes on Friday were on the Personal Consumption Expenditures (PCE) data for January. In the second reading of the US...
The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, held firm above 107.00 on Friday after January Personal Consumption Expenditures (PCE) inflation data matched estimates, easing concerns over an unexpected spike in inflation. The greenback held onto its recent gains as President Donald Trump reiterated that tariffs on Canada, Mexico and China will be implemented on March 4. Meanwhile, risk sentiment improved with US equity markets erasing earlier losses and moving higher. Daily Market Movers Summary: US dollar holds firm after PCE report The...