EUR/USD recovers its recent losses posted in the previous session, trading around 1.1310 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) struggles due to a drop in US Treasury yields, which continue to depreciate after the 30-year US bond yield pulled back from 5.15%, the highest in 19 months. US President Donald Trump's "One Big Beautiful Bill" passed the US House of Representatives and is on its way to the Senate floor, which has raised concerns regarding the increase in the fiscal deficit in the United States (US). However, the EUR/USD pair registered...
Silver prices climbed above $33 per ounce on Friday and were on track to rise about 3% for the week, driven by heightened demand for safe-haven assets amid growing concerns over the US fiscal outlook. Investor anxiety was stoked by President Trump's new budget bill—which includes significant tax cuts and expanded defense spending—raising fears of worsening deficits and an expanding national debt. Adding to the bullish tone, Federal Reserve Governor Christopher Waller suggested that the Fed still sees scope for interest rate cuts later this year, depending on the outcome of ongoing tariff...
Gold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal. The spending bill from United States (US) President Donald Trump passed through the House of Representatives on Thursday and is now on its way to the Senate. Traders are worried that the spending bill will only add more US debt, while income from tariffs remains to be seen as enough to provide funding for all the spending. The best place to track these concerns is the US 30-year benchmark rate. Yields in that...
The Pound Sterling (GBP) posts a fresh three-year high near 1.3500 against the US Dollar (USD) in European trading hours on Friday, following the release of the stronger-than-projected United Kingdom (UK) Retail Sales data for April. The Office for National Statistics (ONS) reported that Retail Sales, a key measure of consumer spending, rose at a robust pace of 1.2% on the month, compared to estimates of 0.2% and the 0.1% growth seen in March, revised lower from 0.4%. On year, the consumer spending measure grew by 5%, faster than expectations of 4.5% and the prior release of...
Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by rising expectations of another large OPEC+ output increase for July. Brent futures fell 22 cents, or 0.3%, to $64.22 a barrel by 0919 GMT. U.S. West Texas Intermediate crude futures lost 21 cents, or 0.3%, to $60.99. Both contracts are set to lose about 2% on the week following two weeks of gains. OPEC+ which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, is holding meetings next week expected to yield another...