Gold is trading steadily in early Asian trade. Prices remain supported as investors continue to turn to the safe-haven asset as a hedge against uncertainty, given the continued global trade tensions, says Bas Kooijman, CEO and asset manager of DHF Capital S.A. in a note. However, if trade developments lead to inflationary pressures, it could prompt the Fed to remain cautious and hold rates for longer, which could limit gold's rally, Kooijman says. Geopolitical risks around the Russia-Ukraine conflict could fuel risk-off sentiment and sustain gold's upward price trend in the short term,...
Oil prices rose sharply in Asian trade on Thursday, rebounding from multi-year lows as the U.S. offering some concessions on recent tariffs helped lift risk appetite. But traders remained on edge over increased U.S. trade tariffs on China, Canada, and Mexico, as well as growing expectations of higher oil supplies, after the Organization of Petroleum Exporting Countries and allies (OPEC+) agreed to increase production this week. Hopes of more stimulus measures in top importer China offered some support to oil markets, although the country's economic outlook remained clouded by a brewing...
The dollar index fell to around 104 on Thursday, reaching its lowest level in four months, as a stronger euro and the ongoing fallout from President Donald Trump's tariffs weighed on the currency. Trump recently granted a one-month exemption for US automakers from his 25% tariffs on Canada and Mexico and expressed openness to further concessions. However, new US tariffs on Canada, Mexico, and China have led to retaliatory measures from those countries, raising concerns of an escalating trade war that could impede US economic growth. On the data front, traders are awaiting Friday's monthly...
The Japanese yen traded near 149 per dollar on Thursday, staying close to its strongest levels in five months. The currency gained from a broad weakness in the dollar, which came under pressure from a strengthening euro and the fallout from President Donald Trump's tariffs. Trump granted tariff concessions for certain automakers, while his latest tariffs prompted retaliatory measures from the affected countries—both of which were bearish for the dollar. Domestically, Bank of Japan Deputy Governor Shinichi Uchida remarked this week that the central bank could raise interest rates further...
The Australian Dollar (AUD) holds ground for the fourth consecutive day on Thursday. The AUD/USD pair gains ground as the US Dollar (USD) remains subdued amid improved risk sentiment, following another shift in US President Donald Trump's tariff strategy. The White House announced on Wednesday that President Trump is temporarily exempting automakers from newly imposed import tariffs on Mexico and Canada for one month. Additionally, Trump is considering excluding certain agricultural products from tariffs on Canada and Mexico, according to a Bloomberg reporter on X late Wednesday. Source:...