The AUD/USD pair trades on a flat note near 0.6275 during the early Asian session on Wednesday. The markets turn cautious ahead of US President Donald Trump's announcement of reciprocal tariffs. Also, the US March ADP Employment Change will be published. Trump is set to implement tariffs on US trading partners on Wednesday, potentially adding more tariffs on Chinese goods. Trump has already placed a total of 20% tariffs on all Chinese imports since taking office in January, blaming Beijing for failing to do enough to curb the flow of chemicals used to make the deadly drug fentanyl into the...
Silver prices fell to $33.8 per ounce, retreating from a five-month high of $34.58 reached on March 28th, as investors braced for President Donald Trump's announcement of reciprocal tariffs set to take effect Wednesday. Market participants weighed concerns over an escalating global trade war, which could weaken industrial demand for silver, against its safe-haven appeal amid growing fears of an economic slowdown. Over the weekend, Trump reaffirmed plans to impose reciprocal tariffs on all countries and reportedly urged his advisers to take a more aggressive trade stance. Meanwhile, US...
Oil prices steadied in thin trading on Wednesday after falling in the previous session on concerns that new U.S. tariffs, set to be unveiled at 2000 GMT, may deepen a global trade war that could limit crude demand. Brent futures gained 1 cent to $74.50 a barrel by 0346 GMT after slipping 0.4% on Tuesday. U.S. West Texas Intermediate crude futures rose 3 cents to $71.23 after dropping 0.4%. Prices settled at their highest in five weeks on Monday. The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the...
Gold rose above $3,130 per ounce on Wednesday, climbing back toward record levels reached in the previous session, driven by risk aversion as markets braced for additional US tariffs that could escalate the global trade war. The White House did not disclose details on the tariffs' scope but said they would take effect immediately after being unveiled. President Trump also hinted the duties would impact many countries, raising concerns about broad economic fallout. Additionally, gold was supported by expectations of interest rate cuts, central bank buying, and strong demand for gold-backed...
Gold prices inched lower in Asian trading on Wednesday after hitting an all-time high in the previous session, as traders awaited specific details on U.S. President Donald Trump's April 2 tariffs. XAU/USD inched 0.3% lower to $3,116.24 per ounce by 00:57 ET (04:57 GMT), after rising by 0.4% in early Asian trading. It reached a record high of $3149.03 on Tuesday. Gold Futures expiring in June were largely unchanged at $3,146.06 an ounce. The yellow metal had hit consecutive fresh record-highs in the last four sessions, but traders were cautious on the day of Trump tariffs, leading...