Gold prices (XAU/USD) held steady on Friday (4/18) after falling from an all-time high of $3,358 as investors booked profits during the long Easter holiday. Significant uncertainty over US President Donald Trump's tariffs on imports into the US and ongoing geopolitical tensions could support gold prices, which are known as safe-haven assets. On the other hand, Federal Reserve (Fed) Chairman Jerome Powell was hawkish, reducing the chances of a Fed rate cut in June. This, in turn, could lift the Greenback and weigh on USD-denominated commodity prices. Powell said that a weak economy and high...
West Texas Intermediate (WTI), the US crude benchmark, was trading around $63.50 during the Asian session on Friday (4/18). WTI prices rose to a two-week high amid hopes for a trade deal between the United States and the European Union and new US sanctions on Iran. Trading volumes are likely to be light on Good Friday. US President Donald Trump and Italian Prime Minister Giorgia Meloni met in Washington, signaling hopes for a resolution to the trade dispute that has strained US-European relations. "We're not going to have much trouble making a deal with Europe or anybody else, because we...
USD/CHF edged lower during Asian trading hours on Friday (4/18), hovering around 0.8180, after posting gains in the previous session. The currency pair came under pressure as the US dollar weakened amid growing concerns over the economic impact of US tariffs. Market activity remained subdued due to the Good Friday holiday. Federal Reserve Chairman Jerome Powell warned that persistent inflation coupled with a slowing economy could jeopardize the Fed's dual mandate, raising the specter of stagflation. Sentiment was further dented after former President Trump criticized Powell's recent...
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is remaining below 99.50 during the early European hours on Friday. The Greenback remains subdued amid growing concerns over the economic impact of tariffs on the United States (US). Market participants are closely monitoring developments in US trade negotiations, although trading activity is expected to be subdued due to the Good Friday holiday. However, the US Dollar gained some support after hawkish remarks from Federal Reserve Chair Jerome Powell, who cautioned that a sluggish...
Silver prices (XAG/USD) broadly unchanged on Friday, according to FXStreet data. Silver trades at $32.56 per troy ounceGeopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment...