The Australian dollar (AUD) extended its gains for the second straight session on Tuesday (3/25). However, the AUD/USD pair faces downward pressure amid a stronger US dollar (USD). Strong S&P Services PMI data and cautious comments from the Fed likely fueled the greenback's gains. The AUD is supported as investors anticipate the Reserve Bank of Australia (RBA) to leave rates unchanged in April, following its first rate cut in four years in February. Additionally, expectations of Chinese stimulus continue to bolster the Australian economy, given the strong trade ties between the two...
The Japanese Yen (JPY) weakened against its US counterpart for the fourth straight day, pushing the USD/JPY pair to the 151.00 range, or a three-week high during the Asian session on Tuesday (3/25). Global risk sentiment remained supported by hopes that US President Donald Trump's so-called tit-for-tat tariffs would be narrower and less stringent than previously feared. Additionally, optimism over a possible Russia-Ukraine peace deal and reports that China is considering including services in a subsidy program to stimulate consumption further boosted investor confidence, weakening the...
Silver (XAG/USD) prices snapped a four-day losing streak, trading around $33.10 per troy ounce during Asian market hours on Tuesday (3/25). The recovery was driven by increased demand for safe-haven assets amid rising geopolitical tensions. The United Nations (UN) announced on Monday that it would reduce its international staff in Gaza by about a third after Israeli airstrikes killed hundreds of civilians, including UN personnel. After a two-month ceasefire brought relative calm to the 18-month war, Israel resumed a full-scale air and ground campaign against Hamas on Tuesday. Palestinian...
Gold (XAU/USD) prices struggled to gain any meaningful traction during the Asian session on Tuesday (March 25), albeit held above the psychological $3,000 mark amid mixed fundamental cues. The US Dollar (USD) held on to its recent recovery from multi-month lows and hovered near three-week highs touched on Monday. Moreover, the upbeat market mood, supported by hopes for less disruptive US trade tariffs, a Russia-Ukraine peace deal, and optimism over Chinese stimulus, acted as a headwind for the safe-haven precious metal. Meanwhile, growing acceptance that the Federal Reserve (Fed) will soon...
GBP/USD held steady around 1.2920 during the Asian session on Tuesday (3/25) after a surge in the previous session. However, the pair held steady amid a US Dollar (USD) correction. The greenback strengthened, supported by strong S&P Services PMI data and cautious remarks from Federal Reserve officials. The S&P Global Services PMI jumped to 54.3 in March, the highest in three months, up from 51.0 in February and surpassing market expectations of 50.8. The services sector rebounded sharply from a 15-month low, while the Composite PMI rose to 53.5, marking its strongest expansion since...