The AUD/USD pair added to Tuesday's uptick and trespassed the 0.6300 hurdle despite a decent rebound in the Greenback. The pair extended gains on Wednesday, supported by softening United States (US) inflation data, which bolstered expectations that the Federal Reserve (Fed) may adjust interest rates sooner than previously anticipated. While the US Dollar (USD) attempted a recovery, risk sentiment remained favorable for the Australian Dollar (AUD), opening the door for a potential test of the monthly highs near 0.6360.Australian Dollar extends gains as US CPI weakensThe US Consumer Price...
Oil steadied, after the biggest gain in two weeks, as easing US inflation aided broader financial market sentiment. West Texas Intermediate traded below $68 a barrel after jumping 2.2% on Wednesday, with Brent crude closing near $71. US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months. Crude has tumbled from a high in mid-January, with some of the biggest oil traders getting...
Gold edges higher in the early Asian session. EU and Canada unveiled retaliatory tariffs against the U.S. on Wednesday, further increasing prospects of a global trade war after the U.S. imposed levies on global steel and aluminum imports. Such prospects could enhance the safe-haven appeal of the precious metal. There's uncertainty over the impact of tariffs on the U.S. economy amid talk of a recession, XS.com's Samer Hasn says in an email. Market turmoil has also deepened due to President Trump's repeated "start-and-stop" over tariffs, Hasn adds. Spot gold is 0.1% higher at...
The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) for the third consecutive session, despite weaker Consumer Inflation Expectations data released on Thursday. Consumer expectations of future inflation during the next 12 months fell to 3.6% in March, down from 4.6% in February—the highest level since April 2024. The AUD/USD pair rises as the US Dollar faces headwinds amid ongoing tariff uncertainty from US President Donald Trump and growing concerns over a potential US recession. However, the pair's gains may be capped after Trump ruled out exempting Australia...
Gold rose to around $2,940 per ounce on Thursday, approaching record levels, as escalating global trade tensions continued to fuel safe-haven demand. On Wednesday, President Donald Trump warned of additional tariffs on EU goods after the EU and Canada retaliated against existing US trade barriers. Commerce Secretary Howard Lutnick also said that Trump would impose trade protections on copper as well. Meanwhile, both headline and core US inflation came in below expectations, reassuring investors about disinflation progress and giving the Federal Reserve more flexibility for a less...