Gold prices edged up on Tuesday as investors awaited further clarity on US-China trade talks and awaited key US inflation data due later in the week that could provide insight into the Federal Reserve's future interest rate decision. Spot gold was up 0.2% at $3,333.89 an ounce, as of 0818 GMT, after dropping as low as $3,301.54 earlier in the session. US gold futures were steady at $3,354.70. "Gold prices found a bottom amid dip buying although the rally lacked conviction. Fiscal concerns and Fed rate cut bets were the catalysts for the recovery," said Jigar Trivedi, senior commodities...
The US dollar was virtually flat against the Swiss franc on Tuesday (6/10). The pair hesitated above 0.8200, in the middle of a two-week trading range, with investors watching from the sidelines, awaiting news from the US-China trade negotiations. The world's two leading economies are expected to resume their talks for a second day, aimed at ironing out differences on thorny issues such as rare earths or chip trade, as their respective economies begin to show the scars of their tough tariff policies. Comments from US President Donald Trump, highlighting positive reports received from US...
The pound (GBP) faced sharp selling pressure against other currencies on Tuesday (10/6) after the UK Office for National Statistics (ONS) reported that the labour market contracted in the three months to April. The data showed that the economy added 89,000 new jobs, down from the 112,000 seen in the quarter ended March. The ILO Unemployment Rate rose to 4.6%, as expected, from the previous reading of 4.5%. This is the highest unemployment rate seen since July 2021. Slower job growth in the UK reflects the impact of increased employer contributions to social security schemes. UK Chancellor...
The U.S. dollar strengthened on Tuesday as talks between Beijing and Washington continued for a second day, raising investor hopes of an easing in trade tensions, while sterling fell as U.K. jobs data showed a weaker labor market. Officials from the world's two largest economies are meeting in London to try to defuse a dispute that has widened from tariffs to restrictions on rare earths. "Unlike the Geneva talks (held in May), where tariff relief provided an easy win, the London talks are now tackling thornier issues such as export controls on chips, rare earths and student visas," said...
EUR/USD is trading slightly lower on Tuesday (6/10). The pair has dropped to just below 1.1400 at the time of writing, still within the range of the past few days, with investors reluctant to place any major directional bets as US and Chinese representatives continue to discuss trade issues. Positive statements from some officials, namely US President Donald Trump's assertion that he got a "good report" from the meeting, have helped keep market sentiment buoyant and have provided some support to the US Dollar (USD). However, traders are likely to remain on the sidelines, waiting for news...