Silver (XAG/USD) edges lower after testing the three-week top during the Asian session on Friday and currently trades around the mid-$33.00s, down 0.30% for the day. The technical setup, however, warrants caution before positioning for any meaningful depreciating move. This week's breakout above the $33.00 round figure, representing the top end of a multi-day-old range and the 61.8% Fibonacci retracement level of the March-April downfall, was seen as a key trigger for bullish traders. Moreover, oscillators on the daily chart have been gaining positive traction and are still far from being...
Gold price (XAU/USD) attracts some sellers following an uptick to the $3,370-3,371 area during the Asian session on Friday and reverses a part of the previous day's positive move. Hopes for a potential de-escalation of trade war between the US and China remain supportive of a positive risk tone, which, in turn, is seen undermining the safe-haven precious metal. Apart from this, the emergence of some US Dollar (USD) buying turns out to be another factor exerting downward pressure on the commodity. Meanwhile, Federal Reserve (Fed) officials showed willingness for potential interest rate cuts,...
The Japanese Yen (JPY) continues losing ground through the Asian session on Friday and drops to a nearly two-week low against its American counterpart in the last hour. Hopes for the potential de-escalation of trade war between the US and China remain supportive of a positive risk tone, which, in turn, is seen denting demand for the safe-haven JPY. Adding to this, the emergence of some US Dollar (USD) buying lifts the USD/JPY pair further beyond mid-143.00s. Meanwhile, government data showed that consumer inflation in Tokyo Japan's capital city – accelerated sharply in April and reaffirms...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges higher to near 99.75 during the early European session on Friday amid positive developments in negotiations with allies India, Japan and South Korea. Investors brace for the final reading of the US Michigan Consumer Sentiment, which is due later on Friday. US Treasury Secretary Scott Bessent has suggested that India is likely to become the first country to finalise a bilateral trade agreement with the US to avoid Trump's reciprocal tariffs on Indian exports....
Oil prices rose for a second session on Friday buoyed by potential de-escalation of the U.S.-China trade war, but the market was headed for a weekly decline amid concerns about oversupply. Brent crude futures gained 43 cents to $66.98 a barrel by 0433 GMT, on track to fall 1.4% for the week. U.S. West Texas Intermediate (WTI) crude rose 42 cents to $63.21 a barrel but was set to decline 2.3% for the week. "For today, oil prices are slightly up as the market responds to signs of easing tensions around Trump's tariffs and a potential shift in the Fed's policy stance, contributing to a...