The USD/JPY pair attracts some buyers to around 149.75 during the Asian trading hours on Tuesday. The US Dollar (USD) gains ground as traders await more cues from US President Donald Trump's speech. Later on Wednesday, the US ISM Services Purchasing Managers Index (PMI) for February will be in the spotlight. Meanwhile, the US Dollar Index (DXY), a measure of the USD's value relative to its most significant trading partners' currencies, currently trades around 105.75, adding 0.18% on the day. However, the upside for the Greenback might be limited amid concerns over slowing economic growth...
Gold eased below $2,910 per ounce on Wednesday, pausing recent gains as rising US Treasury yields pressured prices. Still, the metal remained relatively near its record highs, supported by safe-haven demand amid implementation of US tariffs. Trump's 25% levies on Mexican and Canadian imports took effect Tuesday, alongside a hike in Chinese duties to 20%, escalating trade tensions and prompting retaliation. However, US Commerce Secretary Howard Lutnick suggested possible tariff relief for Canada and Mexico. Further boosting gold's safety appeal, the US paused military aid to Ukraine amid...
The GBP/USD pair trades with mild gains to near 1.2790 during the early European trading hours on Wednesday. The US Dollar (USD) hovered near a three-month low amid concerns over slowing US economic growth and the impact of tariffs. "Fears about weaker U.S. and global economic activity are manifesting in the markets, with cyclicals driving the sell-off," said Kyle Rodda, senior financial markets analyst at capital.com. Additionally, Trump's 25% levies on Mexican and Canadian imports took effect on Tuesday, alongside a hike in Chinese duties to 20% Investors will take more cues from the US...
Oil prices fell for a third session on Wednesday as plans by major producers to raise output in April combined with concerns that U.S. tariffs on Canada, Mexico and China will slow economic growth and hit fuel demand. Brent futures fell 24 cents, or 0.3%, to $70.80 a barrel at 0500 GMT. U.S. West Texas Intermediate (WTI) crude slipped 58 cents, or 0.9%, to $67.68 a barrel. In the previous session, the contracts settled at close to multi-month lows. "Unfavourable supply-demand dynamics have created a double whammy, with tariff uncertainties posing downside risks to global growth, and in...
Silver price (XAG/USD) extends its upside to around $32.15 during the early European session on Tuesday. The white metal edges higher amid uncertainty and trade war worries, which boost the safe-haven demand. Technically, the bullish trend of Silver remains in play as the commodity is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI), which stands above the midline near 55.00, displaying bullish momentum in the near term. The first upside target for white metal emerges at...