The Australian Dollar (AUD) trades steady around the region 0.6300 against the US Dollar (USD) during Thursday's American session. The pair consolidates recent gains despite renewed weakness in the US Dollar, which faces selling pressure after tariff-related developments and market caution ahead of Friday's PCE inflation release. The AUD/USD pair trades within a tight range, reflecting market indecision but holding ground as optimism over China's stimulus pledges provides underlying support. Daily digest market movers: Australian Dollar holds steady as tariff tension weighs on USDThe...
Gold price uptrend continued on Thursday with the yellow metal hitting a new record high of $3,059 amid uncertainty over trade policies enacted by US President Donald Trump, which escalated the trade war by imposing tariffs on automobiles. The XAU/USD trades at $3,051, up more than 1%. Tariffs continue to drive price action, following Trump's announcement of 25% duties on cars and automotive parts not manufactured in the United States (US). As uncertainty rises, Bullion traders bought the precious metal, which extended its gains past $3,050.Consequently, risk appetite deteriorated with Wall...
EUR/USD jumps to near 1.0800 in North American trading hours on Thursday. The major currency pair gains after a six-day losing streak despite deepening fears of a potential trade war between the United States (US) and the Eurozone. Fears of a trade war have escalated as the European Union (EU) prepares to announce retaliatory tariffs on the US against 25% auto tariffs imposed by President Donald Trump on Wednesday, which will come into effect on April 2. "I can't tell you exact timings for when our potential response to these still not implemented actions will come, but I can assure you...
The USD/JPY pair posts a fresh three-week high near 151.00 during North American trading hours on Thursday. The pair strengthens amid significant weakness in the Japanese Yen (JPY). The Yen underperforms even though traders remain confident that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ hawkish bets have been driven by expectations of more wage hikes ahead. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4% this year.Though investors have underpinned the US Dollar (USD) against the Japanese Yen, it is...
Oil is headed for a third weekly gain as the market braces for more tariffs from the Trump administration set to take effect early next week. West Texas Intermediate crude futures were steady below $70 a barrel, while Brent settled near $74 on Thursday. So-called reciprocal levies and duties on buyers of Venezuelan crude and gas are scheduled to take effect on April 2, the latest in a series of U.S. tariffs that have rattled global markets. Oil has been trending higher since early March as investors weighed supply disruptions caused by President Donald Trump's sanctions and levies, with...