EUR/USD trades lower to near the 10-day low of 1.0815 in Friday's North American session. The major currency pair faces selling pressure as the US Dollar (USD) strengthens after the Federal Reserve (Fed) expressed in the policy meeting on Wednesday that interest rate cuts are not on the table in the current scenario. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rises to near 104.15. On Wednesday, the Fed kept interest rates steady in the range of 4.25%-4.50% for the second time in a row, as expected. Fed Chair Jerome Powell said in the press...
The AUD/USD pair struggles to capitalize on the overnight bounce from the 0.6270 area or a one-week low and meets with a fresh supply on Friday. Spot prices remain depressed below the 0.6300 mark through the first of the European session and could slide further amid a goodish pickup in the US Dollar (USD) demand. The Federal Reserve (Fed) maintained its forecast for two 25 basis points rate cuts in 2025 at the end of March policy meeting on Wednesday and gave a bump higher to its inflation projection. The outlook assists the Greenback to build on its modest recovery from a multi-month low...
The USD/CHF pair flattens around 0.8820 during North American trading hours on Friday. The Swiss Franc pair trades sideways even though the US Dollar (USD) exhibits strength amid expectations that the Federal Reserve (Fed) will not cut its key borrowing rates in the near term. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rises to near 104.00.Fed officials have stated that they are not in a hurry to move to interest rate cuts as they struggle to interpret the outcome of United States (US) President Donald Trump's economic policies. In Friday's...
Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply. Brent crude futures rose 16 cents, or 0.2%, to settle at $72.16 a barrel. U.S. West Texas Intermediate crude futures rose 21 cents, or 0.3%, to $68.28. On a weekly basis, Brent rose 2.1% and WTI about 1.6%, their biggest gains since the first week of the year. On Thursday, the U.S. Treasury announced new Iran-related sanctions, which for the first time targeted an independent...
Gold price retreats for the second straight day yet is poised to finish the week in the green amid broad US Dollar (USD) strength and traders booking profits ahead of the weekend. The XAU/USD trades at $3,019, down 0.81%. Market mood remains downbeat, yet US equities are trimming some of their previous losses. Bullion remains defensive as the Greenback seems to have found its foot with the US Dollar Index (DXY) standing at 104.05, up 0.24%. The lack of a catalyst keeps traders focused on the main driver of the markets, President Donald Trump's trade policies. Aside from this, even Federal...