EUR/USD held its mid-point on Wednesday, holding near the 1.1300 level after the Federal Reserve's (Fed) latest interest rate announcement came in line with traders' expectations, albeit with a fresh set of "wait and see" warnings from Fed Chair Jerome Powell. The economic calendar on the European side remains mid-level this week, leaving Fiber traders to sit back and digest the increasingly cautious Fed. Fed's Powell: The right thing to do is to wait for more clarity The Fed's recent interest rate announcement highlighted that while US employment and economic activity remain strong,...
Silver prices rose more than 1% to near $33 an ounce on Thursday (08/05), recovering losses from the previous session as investors sought refuge in safe-haven assets amid ongoing economic and trade uncertainty. The recovery followed the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected. However, Chairman Jerome Powell was cautious, highlighting rising risks to inflation and employment, and downplaying the possibility of a preemptive rate cut to mitigate the potential economic impact of new tariffs. On the trade front, President Donald Trump announced via...
Oil prices rose on Thursday after falling more than $1 in the previous session, supported by hopes for a breakthrough in upcoming trade talks between the US and China, the world's two largest oil consumers. Brent crude futures rose 51 cents, or 0.8%, to $61.63 a barrel, while U.S. West Texas Intermediate crude futures rose 57 cents, or 1%, to $58.64 a barrel by 0420 GMT. "Optimism surrounding the US-China trade talks later this week is a major factor supporting the oil market recovery," said independent market analyst Tina Teng. "Signs of an easing trade war have boosted market sentiment,...
Gold extended its recent decline to around $3,360 per ounce on Thursday, as a cautious outlook on US interest rates weighed on the appeal of the non-yielding asset. The Federal Reserve held its benchmark rate steady as expected and warned of rising risks of both inflation and unemployment, reinforcing its cautious stance on future rate changes. Fed Chair Jerome Powell also stated that the central bank is not considering a preemptive rate cut in response to potential economic fallout from tariffs. Meanwhile, uncertainty surrounding US-China trade talks helped limit further losses. President...
Oil rose on Thursday after falling more than $1 in the previous session, supported by hopes of a breakthrough in looming trade talks between the U.S. and China, the world's two largest oil consumers. Brent crude futures were up 10 cents, or 0.2%, at $61.22 a barrel, while U.S. West Texas Intermediate crude rose 13 cents, or 0.2% to $58.20 a barrel at 0632 GMT. "Optimism around the U.S. and China trade talks this weekend is a primary factor supporting the rebound in the oil market," said independent market analyst Tina Teng. "Signs of a de-escalating trade war improved market sentiment,...