The US Dollar is featuring a moderate recovery on Thursday, paring some losses after the previous two days' reversal. The pair, however, remains trading near long-term lows, with upside attempts capped below the 0.8000 psychological level. The Greenback extended losses on Wednesday after the minutes of the latest Federal Reserve's Monetary Policy Meeting revealed a deep division among policymakers, with the majority of the MPC showing willingness to reduce borrowing costs in the next months. Traders ramped up expectations of an at least 25 basis point rate cut in September, according to...
Oil prices edged lower on Thursday as investors weighed the potential impact of U.S. President Donald Trump's tariffs on global economic growth. Brent crude futures were down 17 cents, or 0.24%, at $70.02 a barrel by 1100 GMT. U.S. West Texas Intermediate crude fell 24 cents, or 0.35%, to $68.14 a barrel. On Wednesday, Trump threatened Brazil, Latin America's largest economy, with a punitive 50% tariff on exports to the U.S., after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva. He has also announced plans for tariffs on copper, semiconductors and pharmaceuticals...
The US dollar (USD) held its ground on Thursday (July 10th) after a weak start to the day, as investors digested new tariff threats from US President Donald Trump. The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, strengthened slightly during American trading hours following stronger-than-expected weekly jobs data. At the time of writing, the index was hovering around 97.75, a level last seen on June 25th, marking a new weekly high after rebounding from a daily low of 97.27. The greenback weakened during Asian trading hours and retraced some...
Gold prices were little changed on Thursday (July 10) as a stronger U.S. dollar offset the impact of U.S. President Donald Trump's latest tariffs, prompting buying by investors seeking protection from geopolitical risks. Spot gold prices rose 0.2% to $3,318.56 an ounce at 11:03 a.m. ET (1603 GMT). U.S. gold futures rose 0.2% to $3,328.30. The U.S. dollar index rose 0.2%. Gold tends to lose traction when the U.S. dollar strengthens, as it becomes more expensive for investors holding other currencies. "Unless there's a major geopolitical escalation, I don't see gold breaking above $3,400. In...
Gold prices were little changed on Thursday (July 10) as a stronger U.S. dollar offset the impact of U.S. President Donald Trump's latest tariffs, prompting buying by investors seeking protection from geopolitical risks. Spot gold rose 0.1% to $3,317.44 an ounce at 1:50 PM ET (17:50 GMT). U.S. gold futures closed 0.1% higher at $3,325.7. The U.S. dollar index rose 0.2%. Gold tends to lose traction when the U.S. dollar strengthens, as it becomes more expensive for investors holding other currencies. "Unless there's a major geopolitical escalation, I don't see gold breaking above $3,400. In...