The US Dollar (USD) continues to face an intense selling pressure, with the US Dollar Index (DXY) sliding to near 99.50. The USD Index has extended its losing streak for the third trading day amid escalating trade war between the United States (US) and China. Last week, Donald Trump announced a 90-day pause on reciprocal tariffs on all of its trading partners, except China. The situation worsened after Trump raised reciprocal levies on China to 125% for imposing significant counter-tariffs on the US. The 90-day reciprocal tariff pause was a big relief for all associated nations, which led...
OPEC cut forecasts for global oil demand growth slightly this year and next as President Donald Trump's tariff onslaught takes a toll on consumption, while remaining more bullish than other forecasters. The cartel lowered demand growth projections for 2025 and 2026 by about 100,000 barrels a day, projecting an expansion of 1.3 million barrels a day — or approximately 1% — for each year, according to a report from its secretariat in Vienna. Despite the downgrades, the estimates from OPEC remain considerably higher than many others in the industry — a recurring feature of its research....
Gold price started the week with a small bearish gap but managed to regain its traction during the Asian trading hours. After touching a new record-high of $3,245, XAU/USD entered a consolidation phase and declined toward $3,200. At the time of press, the pair was trading at $3,208, losing about 1% on the day. Gold price retreats as risk mood improves Gold gained nearly 2% on Friday as safe-haven flows dominated the action in financial markets after China announced that they raised additional tariffs on US imports to 125% from 84% in retaliation. Late Friday, US President Donald Trump's...
The Pound Sterling (GBP) extends its winning streak for the fifth trading day against the US Dollar (USD) at the start of the week. The GBP/USD pair jumps to near 1.3200 in Monday's North American session as investors have dumped the US Dollar on the tit-for-tat tariff announcement between the United States (US) and China. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, declines to near 99.00, the lowest level seen in three years. US President Donald Trump's announcement of a 90-day pause on reciprocal tariffs last week has significantly...
WTI crude oil futures hovered around $61 per barrel on Monday, fluctuating as news of potential looser restrictions on Iranian crude clashed with a temporary U.S. tariff reprieve. US-Iran nuclear talks, described as "constructive," raised hopes for higher Iranian oil exports, putting downward pressure on prices. However, OPEC revised its 2025–26 demand growth forecast down by 100,000 bpd, reflecting weaker consumption due to U.S. tariffs, though it still anticipates growth of 1.3 million bpd annually. Although President Donald Trump granted exclusions from steep tariffs on tech products...