The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near two-week low amid easing US-China trade tensions as traders hope for US-China trade deal after US President Donald Trump's comments Risk sentiment is improving as Trump said early Thursday that there is a "very good probability that the United States will reach a deal with China, but the agreement must align with its conditions. Optimism surrounding tariff lift the Greenback and weakens demand for traditional safe-haven assets like Gold as it makes...
Oil prices take breather after selloff on supply worriesOil prices edged higher on Thursday, steadying slightly after sharp losses on the previous day driven by signs Saudi Arabia could produce more, and as the U.S. economy contracted in the first quarter. Brent crude futures rose 16 cents, or 0.3%, to $61.22 a barrel. U.S. West Texas Intermediate crude futures climbed 6 cents or 0.1%, to $58.27. WTI closed at its lowest since March 2021 on Wednesday. Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further...
The Japanese Yen (JPY) snaps a two-day losing streak against its American counterpart as traders opt to move to the sidelines and wait for the crucial Bank of Japan (BoJ) policy decision this Thursday. Moreover, the updated economic projections and BoJ Governor Kazuo Ueda's comments at the post-meeting press conference will be scrutinized for cues about the likely timing of the next interest rate hike. This, in turn, will play a key role in determining the next leg of a directional move for the JPY. Heading into the key central bank event risk, hopes for the potential de-escalation of the...
The dollar sloughed off weak U.S. data to steady on Thursday as investors focused on signs the trade war may be cooling down, and looked ahead to U.S. jobs data due on Friday. The yen ticked about 0.2% lower to 143.29 per dollar after the Bank of Japan left interest rates at 0.5%, as expected. The dollar notched its largest monthly fall for 2-1/2 years through April, as President Donald Trump's flip-flopping tariffs hit growth expectations and rattled confidence. But it has come off lows as Trump has suspended much of the hit and hinted at deals, including with China, which has the highest...
Silver remains under heavy selling pressure for the third straight day on Thursday.Silver (XAG/USD) drifts lower for the third straight day also marking the fourth day of a negative move in the previous five and drops to over a two-week low during the Asian session on Thursday. The white metal, however, shows some resilience below the $32.00 mark, though the technical setup supports prospects for an extension of a one-week-old downtrend.Geopolitical 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....